Published Date : January 2020
The smart inhaler market is projected to gain market revenue of US$ 4,563.1 million by 2026, growing at a CAGR of 15.72% during the forecast period 2020-2026. Owing to the rising adoption of Smart Inhaler services due to the rapid increase in the aging population along with respiratory disorders associated with them. Moreover, increasing incidence of respiratory diseases, the rise in air pollution, and growth in healthcare burden owing to higher cases of asthma and COPD. Better treatment options, ease of use, and technological advancements coupled with the increase in adherence rate of patients to smart inhalers are other major factors that drive this market. Healthcare is the fundamental necessity of every individual however; the soaring cost of healthcare makes it unaffordable for several people. Moreover, the lack of reimbursement and limited availability of smart inhalers in developing regions are expected to restrain the global smart inhalers' market growth. These inhalers Inhalers and nebulizers are bifurcated into metered-dose inhalers, dry powder inhalers and nebulizers.
Based on product type, the report bifurcates the global smart inhalers market into Inhaler (Metered Dose Inhalers, Dry Powder Inhalers) and nebulizers. The market of metered-dose inhalers is expected to grow tremendously at a CAGR of 15.1% during the forecast period 2020-2026, due to the high adoption of these devices. Based on indication, the global smart inhaler market is segmented into Chronic Obstructive Pulmonary Disorder (COPD) and asthma. The COPD occupied the largest share and is expected to maintain its dominance throughout the forecast period 2020-2026 owing to COPD is expected to be the third leading cause of death globally by 2030. The segment generated revenue of US$ 835.5 million in 2018. Chronic Obstructive Pulmonary Disease (COPD) is a general term that describes progressive respiratory diseases like emphysema and chronic bronchitis. Asthma is usually considered a separate respiratory disease, but sometimes it’s mistaken for COPD. According to the National Institutes of Health Trusted Source (NIH), around 24 million in America alone have COPD. Amongst the prevalence of COPD and asthma, COPD is expected to be the third leading cause of death globally by 2030. COPD is a life-threatening disease that accounts for about 5% of the yearly global deaths. Thus, the increasing prevalence of COPD will provide growth to the smart inhaler market over the forecast period.
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Based on Distribution Channel, the report bifurcates the market into Hospital Pharmacies, Retail Pharmacies and Online Pharmacies. In 2018, Hospital Pharmacies segment generated revenue of US$ 1,015.03 million, however, Online Pharmacies segment is expected to witness highest CAGR growth of 23.5% during the analyzed period. For in-depth understanding of the market adoption of Smart Inhaler, the industry is analyzed based on geographies and countries comprising North America (the U.S, Canada and rest of North America), Europe (Germany, Spain, the U.K., France, Italy and Rest of Europe), Asia-Pacific (Japan, India, China, Australia and Rest of Asia-Pacific), and Rest of the World. Further, the rise in geriatric population and age-related respiratory disorders such as COPD in North America as well as Asia-Pacific are estimated to fuel the Smart Inhaler market in both the regions in the upcoming years.
Boehringer Ingelheim, Cohero Health, Inc., Omron Corporation, Novartis, AstraZeneca, Teva Pharmaceuticals Industries Ltd., Vectura Group, GlaxoSmithKline, Adherium Limited, 3M are some of the prominent players operating in the Global Smart Inhaler market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Global Smart Inhaler Market Segmentation
Market Insights, by Product Type
Market Insights, by Indication
Market Insights, by Distribution Channel
Market Insights, by End-User
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