Report Details

Global Smart Inhaler Market Size, Share, Forecast Report, 2020-2027

The global smart inhaler market is expected to grow significantly during the forecast period. Smart inhalers are Bluetooth-enabled devices developed with the support of sensors in order to record health details at the time of therapy. They are connected with smart devices such as smartphones, which also facilitates the reminders for patients to develop regularity of the therapy and medicines. These devices are used for patients suffering critically with fatal diseases such as asthma which is growing with the high rate among geriatric as well as the young population.

Due to its digital transformation of health services, support for self-management, personalized approach to care, reduction in emergency admissions and enhanced patient's life, the adoption of smart inhalers has been growing. Smart inhalers are creating research opportunities for countries in order to develop a better healthcare solution for fatal diseases. As the number of respiratory problems is increasing across the globe, the development of smart respiratory devices is growing rapidly, which tends to drive the growth of the global smart inhaler industry.

Segmental Outlook

The global smart inhaler market is segmented on the product type, application, end-user, and region. On the basis of the product type, the market is segmented into a metered dosed smart inhalers and dry powder inhalers. Based on the applications, the market is classified into asthma and chronic obstructive pulmonary disease (COPD). On the basis, of end-user, the market is classified into hospitals and clinics and homecare.

Asthma Segment is Dominating the Global Smart Inhaler Market

Inhalers were primarily developed for the treatment of asthma; thereby, the increasing prevalence of asthma across the globe is marking its dominance in the global smart inhaler market. According to the Centers for Disease Control and Prevention (CDC), there are around 26 million asthmatics in the US, among which, nearly 18.9 million are adults and 7.1 million are children in 2017. Further, this figure is estimated to increase in the near future; thereby, reflecting the optimistic growth for the smart inhaler market.

Inhaled steroids are the major treatment to control asthma. The use of inhaled steroids leads to reduce the need for hospitalizations, fewer symptoms and flare-ups, and better asthma control. Moreover, with the introduction of smart inhalers, it becomes easy for patients to take proper medication and play an important role in the management of lung diseases. Smart inhalers use Bluetooth technology to detect the use of an inhaler and remind patients for taking medication and collect data to support guide care. The introduction of connected inhaler platforms is supporting the adoption of these inhalers for efficient management of asthma and COPD.

Regional Outlook

Geographically, the study of the global smart inhaler market covers the study of four major regions including North America (the US and Canada), Europe (Germany, UK, Italy, France, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), and Rest of the World (RoW). The US market in North America is estimated to dominate the global smart inhaler market due to several factors including investments in R&D, high healthcare expenditure, presence of key players, and increasing geriatric population with the prevalence of asthma and COPD.

Asia-Pacific to Exhibit the Fastest Growth Rate During the Forecast Period

Asia-Pacific is projected to exhibit the fastest growth in the global smart inhaler market over the forecast period. Increasing prevalence of asthmatic patients in the region, especially in China is one of the major factors contributing to the growth of the smart inhaler market. The growing demand for advanced healthcare facilities in emerging economies of the region along with an increasing focus of major market players towards the development of innovative products by collaborating with other market players in the region are some other factors that are significantly contributing to the market growth. Asia-Pacific comprises of large low- and middle-income population base, owing to which, the people generally adopt home-based care solutions. This, in turn, accelerates the growth of the smart inhalers as home care solutions for asthmatic patients in the region.

Market Players Outlook

Additionally, the market consists of several market players that are developing and marketing a variety of smart inhalers to serve a wide range of customers across the globe. Some of the key players of the market include GlaxoSmithKline PLC, Teva Pharmaceutical Industries Ltd., OPKO Health, Inc., ResMed, Inc., and Sensirion AG. In order to remain competitive in the market, these market players adopt various strategies such as mergers and acquisitions, product offering expansion, geographical expansion, partnerships and collaborations, and others. For instance, in 2019, ResMed Inc. announced the acquisition of Propeller Health, a digital therapeutics company providing connected health solutions for people living with COPD and asthma. Through this acquisition, ResMed strengthened its products offering in the global smart inhaler market.