Smart Inhalers - Nebulizers are expected to grow at the fastest rate due to technological advancements that result in their portability and ease of use
According to a new market report published by Stratistics MRC the Global Smart Inhalers market is accounted for $5.8 million in 2015 and is expected to reach $198.3 million by 2022 growing at a CAGR of 65.5% from 2015 to 2022. Increasing respiratory disorders, rise in air pollution, improved adherence to the inhaler are some of the factors boosting the market growth. However, lesser availability of smart inhalers, high expenditure of asthma and COPD treatment, and resistance towards adoption of smart inhalers are hindering the market growth.
Global Smart Inhalers market is classified by products type into inhalers, nebulizers, smater dry powder inhalers (DPIs) and metered dose inhalers (MDIs). Smart inhaler products comprise sensors that can be easily attached on the traditional inhalers and nebulizers. The inhalers segment accounted for major share of the overall market, as inhalers are preferred as first option of treatment, portability, and cost effectiveness leading to volume sales. However, nebulizers are expected to grow at the fastest rate due to technological advancements that result in their portability and ease of use.
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Global Smart Inhalers market is segmented by disorders into asthma and chronic obstructive pulmonary disease (COPD). COPD indication segment is expected to grow at the highest CAGR due to increase in COPD incidence rate and rise in adherence rate.
Global Smart Inhalers market is divided by end users into patients and research & development. Smart inhalers promote adherence to inhalers and also send timely reminders to patients to take their inhaler dose at the required time due to which it has emerged as a novel approach in asthma and COPD management.
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America accounted for the maximum revenue due to wider availability of smart inhalers coupled with wider government initiatives, growth in demand for advanced technology, and increase in use of mobile phones. Whereas, Asia-Pacific is projected to grow at a significant CAGR during the forecast period, due to rise in demand for smart inhalers and increase in cases of COPD and asthma. Asia-Pacific is the potential market for growth of smart inhalers due to high population base, high disposable incomes, and rise in patient awareness, and increase in prevalence of asthma and COPD.
The key players in the Smart Inhalers market include Propeller Health, Glenmark Pharmaceuticals, Qualcomm Life, Opko Health, Adherium Limited, GlaxoSmithKline plc, Novartis AG, AstraZeneca plc , Boehringer Ingelheim GmbH, 3M Drug Delivery Systems, Sensirion AG, Novartis AG, CoheroHealth, Crux Product Design Ltd, e-pill, LLC, Vectura Group plc, Teva Pharmaceutical Industries Ltd., OMRON Healthcare Europe B.V, Shenzhen Bi-Rich Medical Devices Co., Ltd, Inspiro Medical Ltd, TRI-MED, INC., PARI GmbH and Philips Respironics.
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