Global Smart Inhaler Technology Market – Industry Trends and Forecast to 2029

Global Smart Inhaler Market, By Product (Dry Powder Inhaler (DPI), Based Smart Inhalers, Metered Dose Inhaler (MDI), Based Smart Inhalers), Disease Indication (Chronic Obstructive Pulmonary Disease (COPD), Asthma), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, E-Commerce)– Industry Trends and Forecast to 2029

Market Analysis and Size

The smart inhaler technology industry has been observing optimum development in recent years and is probable to remain even in upcoming years. The growth of smart inhaler technology ’s industry size can be attributed to rising investments in research and development activities, entry of new players, product novelty, technological advances, actual allocation of resources, and rising competition amongst business competitors to expand its local as well as customer base.

Data Bridge Market Research analyses that the smart inhaler technology market which was USD 57.61 billion in 2021, would rocket up to USD 196.29 billion by 2029, and is expected to undergo a CAGR of 16.56% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Smart inhalers are devices intended to connect to the mobile application through Bluetooth to properly manage chronic respiratory disorders and improve patient lifestyle. The surge in the demand for smart inhalers has amplified exponentially due to the rising prevalence of respiratory diseases such as asthma, cystic fibrosis, chronic obstructive pulmonary disorders, amongst others. Smart inhalers are an upgradation over the conventional inhalers. They include the usage of linking technology and usage of sensors through which the general system collects and stores information concerning the habits and requirements of the patient. This connectivity technology aids in informing the patients of the need for replenishing the inhalers and when to take the medication, even increasing the quantity as per the condition of the patient.

Report Scope and Market Segmentation

Smart Inhaler Technology Market Dynamics

Drivers

• Increasing worldwide demand for digital healthcare solutions

 Since changing traditional medical protocols and increasing penetration of IoT in the healthcare and medical devices sector. Moreover, the increasing geriatric population coupled with the surge in respiratory disease incidences is driving the growth of smart inhalers crosswise the world.

• Worldwide demand for smart inhalers is increasing

On account of growing air pollution at an upsetting rate and the pulmonary disorders caused due to it. For instance, Air pollution kills an estimated 7 million people worldwide every year from acquaintance to fine particles in polluted air that main to diseases such as stroke, heart disease, lung cancer, chronic obstructive pulmonary diseases, and respiratory infections, including pneumonia.

Rise in the levels of pollution worldwide which has resulted in the increase of populace susceptible to chronic obstructive pulmonary diseases acts as the vital factor escalating the market growth, also rising prevalence Of COPD and asthma, increase in population vulnerable to indoor air pollutants, increase in air pollution, rising alliance between pharma and digital health companies and rising occurrence of respiratory diseases are the major factors among others driving the smart inhalers market.

Opportunities

Growth of the smart inhaler technology market is the advancement in medical technology, the need to control the surging treatment cost linked with respiratory disorders. After drugs to surgeries, to other medical procedures, nothing costs less than a few lakhs. Smart inhalers are measured a promising novelty that monitors medication adherence based on the type of respiratory disease. Thus, refining the patient’s outcome and reducing the treatment costs. 

Restraints/Challenges
Though, some of the restraints in the market include a lack of awareness and the overall high cost of inhalers. In addition to this, the apprehensions related to misusing data and data privacy are obstructing the growth of this market all over the world. However, misusing data and data privacy and general high cost of asthma and COPD treatment are the main factors among others which will obstruct the market growth, and will further challenge the growth of smart inhaler technology market in the forecast period 2022-2029. However, certain factors such as the high cost of the smart inhalers and the availability of additional manual inhalers may pose a slight hurdle for developing the smart inhaler technology market.

This smart inhaler technology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the smart Inhaler Technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Smart Inhaler Technology Market

The COVID-19 outbreak has caused disorder on worldwide financial and social systems. The disease has entered several industries' value and supply chains, including the smart inhaler technology market. The government imposed lockdowns in several locations. We will study the impact of the COVID-19 pandemic on the global market, looking at both demand and supply. The COVID-19 pandemic's short- and long-term impacts would be explored to deliver a summary. This would help build business plans for all market participants, including manufacturers, vendors, traders, distributors, and end-users, during and after the epidemic.

Recent Development

• In 2019, Lupin publicized launching “ADHERO,” which is a connected smart device for metered dose inhalers and promises to ensure better adherence to breath therapy for COPD treatment.
• In August 2020, Propeller Health cooperated with Novartis to connect the Propeller digital health platform to Enerzair® and Atectura® Breezhaler to treat uncontrolled asthma and started the distribution of the product in Japan.
• In June 2020, Aptar Pharma united with Lupin Limited to launch India’s first connected device for metered-dose nebulizers (MDI) called ADHERO.

Global Smart Inhaler Technology Market Scope

The smart inhaler technology market is segmented on the basis of type, price range, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Products

• Inhalers

Dry Powder Inhalers

Metered Dose Inhalers

• Nebulizers

On the basis of products the smart inhalers market is divided into inhalers and nebulizers.

The inhalers are further divided into dry powder inhalers and metered dose inhalers.

Indication

• Asthma
• COPD

On the basis of indication the smart inhalers market is segmented into asthma and COPD.

Distribution channels

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

On the basis of distribution channels, the smart inhalers market is divided into hospital pharmacies, retail pharmacies and online pharmacies.

 Smart Inhaler Technology Market Regional Analysis/Insights

The smart Inhaler technology market is analysed and market size insights and trends are provided by country, type, price range, application and end user as referenced above.

The countries covered in the smart Inhaler technology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the smart inhalers market due to growing per capita income, rising prevalence Of COPD and asthma, growth in population susceptible to indoor air pollutants, increase in air pollution, rising collaboration between pharma and digital health companies and rising prevalence of respiratory diseases in this region.

 Asia-Pacific is the expected region in terms of development in smart inhalers market due to rising need to rising healthcare expenditure and an cumulative number of product growth in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The smart inhaler technology market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for smart Inhaler Technology market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the smart inhaler technology market. The data is available for historic period 2010-2020.

Competitive Landscape and Smart Inhaler Technology Market Share Analysis

The smart inhaler technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to smart inhaler technology market.

Some of the major players operating in the smart inhaler technology market are:

• Adherium (US)
• AstraZeneca (U.K)
• Boehringer Ingelheim International GmbH (Germany)
• Cohero Health, Inc. (US)
• GSK Group of Companies (U.K)
• Teva Pharmaceutical Industries Limited (Israel)
• Vectura Group Ltd. (UK) Propeller Health (US)
• Novartis AG (Switzerland)
• OPKO Health Inc. (US)
• AptarGroup, Inc. (US)
• Sensirion AG (Switzerland)