Smart Inhalers Market value to cross 260 million by 2025: Global Market Insights, Inc.

Asia Pacific Smart Inhalers Market is projected to secure over 12.5% CAGR from 2019 to 2025, driven by rising healthcare expenditure and increasing number of product development.

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North America smart inhalers market held more than USD 44 million in 2018 and will grow considerably during the analysis timeframe. The North America region is expected to hold significant share due to the continuous technological developments in respiratory disease management industry.  Furthermore, the growing per capita income is driving individuals to spend more on health care management. Due to the presence of established manufacturers, most of the smart inhalers are initially introduced in the U.S. market followed by other countries.

The retail pharmacies segment registered a growth rate of 11.7% over the forecast period. The smart inhalers developed by various companies are not directly accessible to the patients. Companies are majorly focusing on getting FDA approval for over the counter sales of smart inhalers for respiratory disease management. For instance, in July 2018, Adherium received the FDA approval for over-the-counter sales of Hailie sensor for use with Ventolin HFA, ProAir HFA, and Flovent HFA asthma inhalers. This will provide stronger partnerships between physicians and patients by making adherence to personal management plans easier and would further drive the segmental revenue.

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Chronic Obstructive Pulmonary Disease (COPD) segment of smart inhalers market held over a 57% revenue share in 2018 and is anticipated to hold moderate revenue share over the forecast period. COPD is caused by several environmental factors or is genetically acquired that generally requires constant care management. According to the WHO, around 3 million deaths were caused due to chronic obstructive pulmonary disease in 2015. COPD is a life-threatening disease that accounts for about 5% of the yearly global deaths. Thus, the increasing prevalence of COPD will provide segmental revenue growth over the forecast period.

The Smart Inhalers Market revenue is poised to surpass USD 260 million by 2025; according to a new research report by Global Market Insights, Inc. Presently, connected devices for COPD and asthma, particularly smart inhalers, which accurately track and monitor medication use are widely available in the North America region. The smart inhalers accurately collect the clinical data. The general respiratory inhalers lack the efficiency to adequately treat COPD and asthma. Physicians often lack the information and tools to understand the patient's state of health. This scenario recommends the importance of smart inhalers in the respiratory disease management industry to provide new ways of delivering patient self-management. The connected inhalers provide an advantage from the miniaturization of sensors to evaluate the volume of medication inhaled. For instance, Sensirion developed SDP3x differential pressure sensor, that can be integrated with MDI. This can successfully explore new applications in e-health and enable the smart inhaler device. Miniaturization also allows the development of user-friendly systems.

The treatment cost related to respiratory illnesses is regarded as a major issue for patients, payers, and prescribers. Currently, prominent respiratory pharmaceutical and digital health companies are forming strategic partnerships and collaborating to develop new products and pave way for the revolution in digital healthcare industry. Various smart inhalers are introduced to promote adherence by monitoring medication use based on respiratory diseases. Also, it is observed that there is a substantial opportunity for smart inhalers to reduce treatment costs and improve outcomes. The increasing medical adherence could significantly reduce the overall costs related to respiratory disease treatment and upsurge the adoption of smart inhalers. Furthermore, the healthcare professionals, particularly in the developed economies are inclined towards the adoption of smart inhalers for the delivery of drugs directly to the respiratory tract of patients to increase the efficacy of drug delivery and maintain track record.

Browse key industry insights spread across 190 pages with 169 market data tables & 8 figures & charts from the report, “Smart Inhalers Market Size By Product (Dry Powder Inhaler (DPI)- based smart inhalers, Metered Dose Inhaler (MDI)- based smart inhalers), By Disease Indication (Chronic Obstructive Pulmonary Disease (COPD), Asthma), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, e-commerce), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Brazil, Mexico, South Africa, Turkey, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:    

https://www.gminsights.com/industry-analysis/smart-inhalers-market

However, significant security risks and privacy issues are expected to hamper the growth of the v. The patient data collection and potential sharing of the information are of concern. The patient medical information could be later used inappropriately, that might lower the adoption and hampers the growth of the market.

The Dry Power Inhaler (DPI) segment of smart inhalers market was valued around 82 million in 2018 and will witness significant growth over the forthcoming years. DPI is a respiratory inhaler that delivers the medication to the lungs in the form of a dry powder. DPI-based smart inhalers are an alternative to MDI- based smart inhalers. DPI- based smart inhalers are designed to overcome the drawbacks of current DPI inhalers by providing patient real-time feedback. The device combines dry powder fluidization mechanism with and data logger and unique real-time feedback control indicating proper inhalation technique.

Notable business players operational in smart inhalers market include AstraZeneca plc, GlaxoSmithKline, Aptar Pharma, Novartis, Boehringer Ingelheim, Teva Pharmaceuticals,  H&T Presspart Manufacturing Ltd., Findair Sp. z o. o., Vectura Group, and  Zeolr Technologies Pvt Ltd. Established manufacturers are focusing on collaborating with digital and software companies to serve the targeted population. Furthermore, such collaborations also help players to launch their products more conveniently in the market. For instance, in February 2017, Propeller Health collaborated with Novartis to develop a custom add-on sensor for the Breezhaler inhaler. In July 2015, AstraZeneca formed a digital health partnership with the digital health company Adherium to develop smart inhalers.   

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Therapeutic Respiratory Devices Market By Product (OSA Devices [PAP Devices, Oxygen Concentrators, Adaptive Servo-ventilators], Ventilators [Adult, Neonatal], Inhalers [Nebulizers, MDI, DPI], Humidifiers [Heated Humidifiers, Passover Humidifiers, Integrated Humidifiers, Built-in Humidifiers, Standalone Humidifiers]), By End-use (Hospital, Homecare Settings), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2024

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Dry Powder Inhaler Market, By Product Type, By Distribution Channel, By Application Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, India, China, Australia, Japan, Mexico, Brazil, Saudi Arabia, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025

https://www.gminsights.com/industry-analysis/dry-powder-inhaler-market

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