Global smart inhaler market
According to Inkwood Research, the global smart inhaler market is expected to register a CAGR of 31.66% in terms of revenue during the forecast period 2019-2028.
“Browse through 31 market data tables and 41 figures spread across 163 pages, along with a detailed TOC of Global Smart Inhalers Market Forecast 2019-2028.”
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Inhalers are devices used to deliver medication by inhalation. The drugs used in the inhalers are glucocorticoids, insulin, anti-cholinergics and beta-agonists. They are used for the treatment and prevention of respiratory diseases such as COPD and asthma. Smart inhalers involve sensors attached as a clip to the inhalers that monitor the correct dose taking and inhaling technique of the medicine. The data thus acquired is shared with healthcare professionals.
Data sharing is done through Bluetooth technology and platforms like Hailie. Hailie systems are a type of sensors attached to the inhaler to track health and compliance rates. Smart inhalers have reportedly increased adherence rates in patients with asthma and COPD.
Rise of Chronic Respiratory Diseases Propel Global Market
Diseases that affect the airways and other parts of the lungs are called chronic respiratory diseases. According to a 2018 report, these diseases affect more than one billion people worldwide. Respiratory symptoms are both major indicators and causes of physician visits to primary health care centers. Asthma, allergic rhinitis, sleep apnea, tuberculosis, chronic obstructive pulmonary disease (COPD), are among the preventable chronic respiratory disorders. Among these, asthma is one of the main diseases affecting children, the elderly and adults. The prevalence of asthma, which is severe in nature, is observed more in the Middle East, Africa and Latin America, compared to Europe, Asia-Pacific and North America.
Smoking is cited as the root cause of respiratory diseases, particularly chronic obstructive pulmonary disease (COPD). The other reason lagging behind is the growing environmental pollution in industrial areas and metropolitan cities. While many initiatives are being implemented to combat COPD, the growth of the geriatric population is seen as a major challenge in the coming years. These diseases are responsible for increasing hospitalization rates in low- and middle-income countries.
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The smart nebulizer is on its way to becoming the most important product with the highest CAGR
Smart nebulizers are machines that turn liquid asthma medication into gas or mist, which is inhaled by the patient. They are either electric or battery powered. The mist is inhaled through a face mask or mouthpiece. They come in various shapes and sizes, and are heavy and loud. Therefore, they had to be plugged in during the process. It is ideal for patients who need routine treatment for asthma and COPD at home. Also, it is one of the conventional methods used to administer a medical aerosol.
Smart nebulizer is further classified into pneumatic nebulizer, ultrasonic nebulizer and mesh nebulizer. In terms of portability, it is separated into tabletop nebulizer and portable nebulizer. Pneumatic nebulizer is the most commonly used device, and it is highly demanded and preferred due to its improved suitability for all types of drugs. The growing demand is also attributed to the efficiency of drug delivery and ease of handling.
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Asia-Pacific is expected to take the lead with the highest CAGR by 2028
The major countries propelling the growth of the Asia-Pacific market are Japan, India, China, South Korea, Vietnam, Thailand, Australia, and New Zealand. The Asia-Pacific region is seen as a potential market for smart inhalers. This is due to the rapid development of healthcare infrastructure, increasing disposable income and growing awareness of the benefits of smart inhalers. Both China and India are experiencing rapid economic developments, along with a large population, which will provide plenty of growth opportunities for the market under consideration.
The market is expected to encompass several opportunities for new businesses. The market also has the presence of many small and large companies, and is therefore fragmented. Competition between players is considered strong. Some of the well-established companies in the market include Adherium Limited, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, Novartis AG, Teva Pharmaceutical Industries Limited, etc.
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