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The Smart Inhalers Market size will reach USD 2 Bn and the expected CAGR will be 23.5% during the forecast period 2023-2032. The growth and evolution of the smart inhalers market is influenced by a set of important factors, which together determine the dynamics and future trend of this market. A basic factor is the more frequent occurrence of breathing problems like asthma and COPD (Chronic obstructive pulmonary disease). In view of the rapidly increasing prevalence of these diseases worldwide, we require better management and monitoring systems which would raise the need for smart inhalers to meet this requirement. These gadgets enable patients to utilize more advanced functions like dose tracking and medication reminders, helping in the compliance to their inhalation regimens of medication.
Digital innovation is the key driver for the development of this market. The incorporation of sensors, connectivity, and data analytics into the inhaler devices allows for the performance of real-time monitoring and instant feedback. Smart inhalers not only pull up the patient engagement but also communicates important data of healthcare workers for better treatment. The future of this kind of technology will bring along with it more technological advancements that make smart inhalers more usable and thus more effective.
In terms of smart inhalers, regulations play a pivotal role in influencing their market dynamics. The manufacturers likewise have to incorporate the regulatory standards and approvals to make sure the devices are safe and reliable. Regulation boosts trust and hence smart inhalers are accepted as a well-compliant and trusted healthcare product.
In fact, other economic factors contribute as well to the market dynamics in health care. Availability, reimbursement policy, and healthcare expenditure are the main factors which keep smart inhalers within the access of patients. Economic considerations will come into play and will undoubtedly affect the level of implementation of these technologies, mainly in those areas where financial concerns are vital for both healthcare providers and their patients.
Geographical differences add to complexity of market, as specific regions face different specific problems related to asthma. Respiratory diseases are much more common in certain regions than in others. This, in combination with the strain on the healthcare systems in different regions and different patient groups, will affect demand for smart inhalers. Firms within this sector tend to adjust their approach to meet the particular demand of various markets.
The competitive forces in the smart inhaler segment lead to the advancement of the technology as well as the growth of the market. The having of major brands, strategic partnerships, and market shares division are the influencers of product development and market penetration. Competition is a factor in the development of new options such as new features and functionalities of smart inhalers, offering a variety of choices to both doctors and patients.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 0.37Billion Billion |
| Growth Rate | 23.50% (2023-2032) |
Smart Inhalers Market Highlights:
Global Smart Inhalers Market Overview
Smart Inhalers Market Size was valued at USD 0.3 Billion in 2022. The Smart Inhalers Market industry is projected to grow from USD 0.37 Billion in 2023 to USD 2.00 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.50% during the forecast period (2023 - 2032).Rising frequency of respiratory disorders and rising acceptance of digital healthcare solutions are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
FDA has approved the first smart inhaler to be permitted by the FDA, which is Cohero Health’s Smart Inhaler, which was certified in April 2023. Patients using Smart Inhaler receive feedback on their inhalation techniques and adherence through sensor-based tracking of inhalation.
In June 2023, Phil Inc., a technology-oriented patient access platform company that revolutionizes the commercialization of life science products, announced a Teva Pharmaceuticals agreement to enable the prescription of Digihaler® products via the PhilRx Patient Access Platform. The only smart inhaler system with objective data on the use of inhalers for supporting informed treatment discussions between patients and doctors in asthma management is digihaler system from Teva.
The first European market for this device was the UK, where it was launched by Teva in July 2023. This digitally enabled inhaler is meant for patients with bronchial asthma and chronic obstructive pulmonary disorder (COPD).
On behalf of H&T Presspart customers, U.K.-based research lab OzUK Limited and H&T Presspart partnered to bring generic MDIs for conventional Asthma/COPD applications into the market in Sept 2022. The market is divided into dry powdered inhalers (DPIs) and metered dose inhalers (MDIs) according to type.
Smart Inhalers Market Trends
- Rising prevalence of chronic respiratory diseases will drive market growth
Market CAGR for smart inhaler is being driven by the rising prevalence of chronic respiratory diseases. The rising prevalence of acute respiratory disorders such as COPD and asthma around the world is opening up a plethora of chances for the expansion of the smart inhalation device market. According to the Burden of Disease, the prevalence of COPD grew by an estimated 14.7% between 1990 and 2015, according to the Burden of Disease. Furthermore, there is a consistent shift in choice from traditional medication delivery systems to smart drug delivery equipment due to their higher benefits. One of the primary factors likely to drive their usage throughout the forecast period is the growing emphasis of preventative care. According to The Lancet Respiratory Medicine, usage of digital inhalers among asthmatic children in New Zealand grew by up to 84.0% between 2022 and 2032. As a result, such measures aided the expansion of the smart inhaler market over the predicted period.
With the use of Bluetooth, digital inhalers can be linked with smart phones, providing dosing remaining and dose monitoring procedures. Furthermore, these devices include patient education aids that reduce errors in dosage actions, resulting in lower hospitalization and treatment costs. For example, Propeller Health reported in 2016 that patients who used these types of inhalers saw a 60.0% decrease in doctor visits. Furthermore, rapidly expanding R&D activities are likely to provide more services to patients, driving the smart inhalation devices market by 2032.
Smart inhalers can nebulize with low drug amounts, higher aerosol generation efficiency, a predominantly fine-particle percentage reaching the peripheral lung, and a low residual volume. To offer patients with the best possible aerosol drug administration, smart inhalers' output rate, aerosol chamber, and reservoir sizes can be modified for different drugs. In ventilator-dependent patients, traditional and smart inhaler comparisons revealed equivalent medication delivery. Smart inhalers are more effective than traditional inhalers and can provide patients with higher pharmaceutical dosages.Because of the enhanced efficiency of smart inhalers, drug formulation dosages may need to be adjusted to avoid the development of undesirable effects due to overdosing.
The growing emphasis on individualized medication is another driver in the smart inhaler market. Because of technological improvements, healthcare providers can now employ sensors and wireless technologies to monitor patients' symptoms in real-time and tailor their treatment plans accordingly. Smart inhalers can assist patients in better managing their respiratory disorders by delivering real-time feedback and statistics on medicine usage. This can assist healthcare providers in tailoring treatment approaches to individual patient needs, resulting in better treatment outcomes and enhanced patient quality of life.
Smart Inhalers Market Segment Insights
Smart Inhalers Type Insights
The Smart Inhalers Market segmentation, based on type includes Dry Powder Inhaler and Metered Dose Inhaler. In 2022, the metered dosage inhaler segment was the market leader. Metered dose inhalers allow patients to adjust their dosage, allowing it to be used in home care settings. MDIs are effective and widely used among patients of all ages.
Smart Inhalers Application Insights
The Smart Inhalers Market segmentation, based on Application, includes Asthma, Chronic Obstructive Pulmonary Disease and Other. In 2022, the chronic obstructive pulmonary disease segment led the market, accounting for approximately 48.20% of the total.Patients with chronic obstructive pulmonary disease, which includes chronic bronchitis and emphysema, have difficulty breathing. Millions more people have COPD but have yet to be diagnosed or treated.
Smart Inhalers End-Use Industry Insights
The Smart Inhalers Market segmentation, based on end-use industry, includes Hospitals & Clinics, Respiratory Care Centers. In terms of revenue, the hospitals and clinics segment will hold the highest market share in the next years. This segment has previously dominated due to a high number of people visiting hospitals and clinics on a regular basis. The availability of numerous devices and trained experts in hospitals and clinics will prove to be the two primary reasons driving market expansion in this category.
Figure1: Smart Inhalers Market, by End-Use Industry, 2022&2032(USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Smart Inhalers Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Smart Inhalers Market area will dominate this market, because of the increased prevalence of chronic respiratory disorders, particularly among the elderly. The increasing investment in research and development of high-end and next-generation medical devices will result in a significant increase in market growth.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: SMART INHALERS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Smart Inhalers Market accounts for the second-largest market share because of the significant contribution of seasoned players in the field. Further, the German Smart Inhalers Market held the largest market share, and the UK Smart Inhalers Market was the fastest growing market in the European region
The Asia-Pacific Smart Inhalers Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing aging population, the incidence of CRDs, increased healthcare infrastructure, and rising government activities. Moreover, China’s Smart Inhalers Market held the largest market share, and the Indian Smart Inhalers Market was the fastest growing market in the Asia-Pacific region.
Smart Inhalers Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Smart Inhalers Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Smart Inhalersindustry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Smart Inhalers industry to benefit clients and increase the market sector. In recent years, the Smart Inhalers industry has offered some of the most significant advantages to medicine. Major players in the Smart Inhalers Market, including Gecko Health Innovations, Inc (US), GlaxoSmithKline (UK),Inspiro Medical (Israel),Propeller Health (US) and others, are attempting to increase market demand by investing in research and development operations.
AptarGroup, Inc. is a manufacturer of consumer dispensing packaging and drug delivery systems based in the United States. The company has manufacturing activities in 18 different countries. Werner Die & Stamping was founded in 1946 in Cary, Illinois, and was renamed AptarGroup in 1992. Aptar began by creating spray valves and pumps for consumer and home goods. Later on, the company began manufacturing nasal administration and pulmonary medication delivery devices such as nasal spray systems and metered-dose inhaler valves. In February 2022, Aptar Pharma has released Hero Tracker Sense, a digital respiratory health solution that converts a regular metered dosage inhaler (PMDI) into a smart linked healthcare device. Hero Tracker Sense is intended to help individuals suffering from chronic respiratory disorders around the world track their MD usage and enhance adherence to their recommended therapy.
Teva Pharmaceutical Industries Ltd. is a multinational Israeli pharmaceutical corporation headquartered in Tel Aviv, Israel. It mostly sells generic medications, but it also sells active pharmaceutical ingredients and, to a lesser extent, proprietary pharmaceuticals. Teva Pharmaceuticals was the largest generic medication manufacturer until it was briefly surpassed by Pfizer of the United States. Teva reclaimed the market top position after Pfizer broke off its generic medication division in a merger with Mylan, resulting in the formation of the new company Viatris at the end of 2020. Teva is the world's 18th largest pharmaceutical firm. In February 2020, Teva Respiratory, LLC, a subsidiary of Teva Pharmaceutical Industries Ltd., announced that the ArmonAir Dighaler (Inhalation Powder) has been approved by the US Food and Drug Administration. It is administered using Teva's Digihaler device. It is approved for the treatment of asthma in people aged 12 and up.
Key Companies in the Smart Inhalers market include
- AstraZeneca (UK)
- Adherium (New Zealand)
- Cohero Health (US)
- Gecko Health Innovations Inc (US)
- GlaxoSmithKline (UK)
- Inspiro Medical (Israel)
- Propeller Health (US)
Smart Inhalers Industry Developments
March 2020,Propeller and Novartis formed cooperation. This collaboration will aid in the treatment of asthma sufferers by utilizing the tracking platform provided by a propeller that is based on a digital sensor. Growth prospects will be presented to the company, and the company's product portfolio will be strengthened in the next years.
January 2023,Aseptika was awarded an Innovate UK Smart Award for developing a Smart Inhaler Tracker for patients with lung diseases. The Smart Award will assist the company in developing its third-generation smart inhaler tracker, which will include built-in 5G mobile connectivity.
February 2022,Astrazeneca and Honeywell collaborated to create next-generation respiratory inhalers with the propellant HFO-1234ze, which has 99.9% less warming potential than propellants currently used in respiratory treatments.
Smart Inhalers Market Segmentation
Smart Inhalers Market By Type Outlook
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Dry Powder Inhaler
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Metered Dose Inhaler
Smart Inhalers Market By Application Outlook
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Asthma
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Chronic Obstructive Pulmonary Disease
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Other
Smart Inhalers Market By End-Use Industry Outlook
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Hospitals & Clinics
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Respiratory Care Centers
Smart Inhalers Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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