Smart Inhalers Market By Product (Inhalers And Nebulizers, Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs)), Indication (Asthma And COPD), End User (Patients And R And D)
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Smart inhalers are clip-on sensors, also known as connected inhalers, which are attached to the traditional inhalers. They are used to track the medication, dosage, and time taken for each dose.
Linked wirelessly to the cloud, smart inhalers are a part of “Internet of Things,” thus providing correct use of the medication, improved adherence to the inhaler, and better health outcomes. Doctors and patients can easily benefit from the use of smart inhalers as they monitor the dosage and provide reminders at the time of the dose, which can be recorded for understanding the patient’s daily routine.
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The world smart inhalers market is analyzed under three different scenarios, namely, moderate growth, rapid growth, and diminishing growth. Under the moderate growth scenario, smart inhalers market is estimated to reach $191 million by 2022, growing at a CAGR of 63.3% during 2016 to 2022.
Market growth is attributed to the rapid increase in the incidence of respiratory diseases, rise in air pollution, and growth in healthcare burden, due to higher cases of asthma and COPD. In addition, expected increase in adherence to smart inhalers is another major factor for the growth of smart inhalers market.
However, limited availability of smart inhalers, high cost of asthma and COPD treatment, and resistance towards adoption of smart inhalers are expected to hinder the market growth.
The market is segmented on the basis of product, indication, end user, and geography. By product, it is segmented into inhalers and nebulizers.
Inhalers dominates the market, which is further divided into dry powder inhalers (DPIs) and metered dose inhalers (MDIs). Based on indication, smart inhalers are bifurcated into asthma and COPD.
On the basis of end user, it is divided into patients and R&D. In terms of geography, the market is analyzed into North America, Europe, Asia-Pacific, and LAMEA.
North America was the leading revenue-generating region, whereas Asia-Pacific is projected to grow at the highest CAGR of 65.3%, owing to rise in demand for smart inhalers and increase in COPD and asthma cases.
Companies have adopted product approval and clinical trials as their key development strategies. Increase in focus on clinical trials is mainly for the development of innovative technologies in the field of smart inhalers.
In March 2016, Adherium received a product approval to sell its “SmartTurbo” and “SmartTouch” devices in Canada, thereby expanding its product portfolio.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the estimated revenues generated by smart inhalers as well as major geographies during the forecast period.
- The report presents three different market scenarios for smart inhalers, both for value and volume, based on rapid growth, diminishing growth, and moderate growth scenarios.
- Quantitative analysis of the current market and estimations from 2016 to 2022 is presented to help the manufacturers of smart inhalers to analyze the market.
- Entire projections presented in the report highlight the market potential, both in terms of value and volume.
- The report conducts extensive analysis of the market by closely following key product positioning and monitoring the top contenders within the market framework.
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