Smart Inhalers Market to Witness Significant Incremental Opportunity During 2022

Smart inhalers, also known as connected inhalers and sensors are predominantly used as clip-on sensors, which are fastened on top of a regular nebulizer for the treatment of chronic obstructive pulmonary disorder (COPD) and asthma. Smart inhaler technology is birthing as one of the most notable areas that pharmaceutical companies are engaged in order to push digital health. Smart inhalers help patients keep track of dosage of relievers or preventers that are administered at various intervals during the day. These smart devices can raise reminders and alerts for users based on previous pattern of dosage administration or based on inputs fed by users.

Global Smart Inhalers market is accounted for $5.8 million in 2015 and is expected to reach $198 million by 2022 growing at a CAGR of 65.5% from 2015 to 2022. Increasing respiratory disorders, rise in air pollution, improved adherence to the inhaler are some of the factors boosting the market growth. However, lesser availability of smart inhalers, high expenditure of asthma and COPD treatment, and resistance towards adoption of smart inhalers are hindering the market growth. North America is projected to be the leading revenue generating region, whereas Asia-Pacific is projected to grow at the highest rate, due to rise in demand for smart inhalers and increase in COPD and asthma instances.

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Smart Inhalers Market Segments:

By Product Type

Inhalers
Metered Dose Inhalers
Dry Powder Inhalers
Nebulizers

By Application

Asthma
COPD

By Distribution Channel

Hospitals
Retail Pharmacies
Online Pharmacies

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The revenue from North America smart inhalers market is expected to expand at a significant CAGR and is estimated to remain a dominant regional market for smart inhalers. This is majorly due to the rising per capita income in North America which is driving individuals to spend more on health care. This factor is expected to positively impact the growth in treatment options for respiratory disorders. Europe is also anticipated to be one of the leading regional markets for smart inhalers. India and China, along with other developing countries, have been preferable destinations for expenditure and investments. The prime driving factors in the region are rapid industrialization, infrastructural developments, and economic growth. The growth in these regions is paving way for substantial growth opportunities for smart inhaler manufacturers.

Some of the key players in global Smart Inhalers market are Propeller Health, Glenmark Pharmaceuticals, Qualcomm Life, Opko Health, Adherium Limited, GlaxoSmithKline plc, Novartis AG, AstraZeneca plc , Boehringer Ingelheim GmbH, 3M Drug Delivery Systems, Sensirion AG, Novartis AG, CoheroHealth, Crux Product Design Ltd, e-pill, LLC, Vectura Group plc, Teva Pharmaceutical Industries Ltd., OMRON Healthcare Europe B.V, Shenzhen Bi-Rich Medical Devices Co., Ltd, Inspiro Medical Ltd, TRI-MED, INC., PARI GmbH and Philips Respironics.

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