Global Smart Inhalers Market By Product, By Indication, By End User, By Region: Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2023 – 2031
- Industry: Healthcare
- Report ID: TNR-110-937
- Number of Pages: 420
- Table/Charts : Yes
- November, 2023
- Base Year : 2024
- No. of Companies : 10+
- No. of Countries : 29
- Views : 10253
- Covid Impact Covered: Yes
- War Impact Covered: Yes
- Formats : PDF, Excel, PPT
Global Smart Inhalers Market was Worth US$ 13 Bn in 2022, Growing at an Estimated CAGR of 20.2% from 2023-2031.
Smart inhalers are advanced devices that combine traditional inhalers with digital technology to help manage respiratory conditions like asthma and COPD. They record medication usage, provide reminders, and transmit data to healthcare providers, enabling better treatment adherence and personalized care for patients.
In 2022, Metered Dose Inhalers (MDIs) maintained a dominant share of over 60.0% in the smart inhalers market. MDIs are well-received due to their efficiency and user-friendliness. They deliver medication in a precise, measured dose through a quick burst of spray, making them a popular choice for respiratory conditions like asthma and chronic obstructive pulmonary disease (COPD). Moreover, MDIs are typically designed for self-administration by patients through inhalation, adding to their convenience and ease of use.
Fixed-dose and metered delivery mechanism of MDIs ensure that patients receive the correct amount of medication with each puff, which is essential for managing chronic respiratory conditions effectively. This widespread adoption of MDIs in 2021 reflects their effectiveness in delivering medication and their acceptance among both healthcare providers and patients.
Global Smart Inhalers Market Revenue & Forecast, (US$ Million), 2015 – 2031
COVID-19 Impact Analysis on Global Smart Inhalers Market
Pre-COVID-19, the smart inhalers market was steadily growing due to increasing respiratory conditions and the demand for digital healthcare solutions. However, post-COVID-19, the market experienced accelerated growth. The pandemic underscored the importance of remote patient monitoring, driving the adoption of smart inhalers to enable healthcare providers to remotely track and manage patients with respiratory illnesses. The focus on reducing hospital visits and improving patient adherence to inhaler therapies led to greater acceptance of these advanced devices, shaping the market’s trajectory.
Report Coverage and Deliverables:
One key driver is the enhancement of medication adherence facilitated by smart inhalers. A study published in the Journal of Asthma found that patients using smart inhalers exhibited higher adherence rates (around 70%) compared to those using traditional inhalers (around 50%). Improved adherence translates to better disease management and reduced healthcare costs. This is crucial considering the annual economic burden of non-adherence to asthma medication in the US, estimated at $7.7 billion.
Smart inhalers’ ability to track usage and send reminders addresses this challenge, ultimately leading to better patient outcomes. A significant restraint is the cost and accessibility of smart inhalers market. While they offer advanced features and benefits, they tend to be more expensive than traditional inhalers. This cost differential can be a barrier for some patients, impacting their ability to access these devices. A study by The National Center for Biotechnology Information noted that inhaler cost was a factor in non-adherence. Moreover, the availability of smart inhalers can vary by region, limiting accessibility for patients in certain areas. Addressing affordability and ensuring equitable access remain challenges for the widespread adoption of smart inhalers.
In the global smart inhalers market by indication, asthma held the larger share in 2022 compared to COPD. It’s a more prevalent respiratory condition globally, affecting millions of individuals. The demand for smart inhalers in asthma management was significant, driven by the need for better control, adherence, and monitoring among asthma patients.
North America occupied major chunk of the revenue in the global smart inhalers market in 2022. The region was at the forefront of adopting digital healthcare solutions, and its well-established healthcare infrastructure facilitated the integration of smart inhalers into patient care. High healthcare expenditures and an aging population contributed to the market’s prominence.
Competitive Landscape: Global Smart Inhalers Market
- adherium
- AptarGroup, Inc.
- Cognita Labs, LLC
- GSK plc
- Novartis AG
- Opko Health Inc.
- Philip Morris Products S.A.
- Questex LLC
- ResMed
- Teva Pharmaceutical Industries Ltd.
- Other Industry Participants
Report Summary of Global Smart Inhalers Market
Report Specifications | Details |
Market Revenue in 2022 | US$ 13 Billion |
Market Size Forecast by 2031 | US$ 54.5 Billion |
Growth Rate (CAGR) | 20.2% |
Historic Data | 2015 – 2021 |
Base Year for Estimation | 2022 |
Forecast Period | 2023 – 2031 |
Report Inclusions | Market Size & Estimates, Market Dynamics, Competitive Scenario, Trends, Growth Factors, Market Determinants, Key Investment Segmentation, Product/Service/Solutions Benchmarking |
Segments Covered | By Product, By Indication, By End User |
Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Countries Covered | U.S., Canada, Mexico, Rest of North America, France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America |
Key Players | adherium, AptarGroup, Inc., Cognita Labs, LLC, GSK plc, Novartis AG, Opko Health Inc., Philip Morris Products S.A., Questex LLC, ResMed, Teva Pharmaceutical Industries Ltd., Other Industry Participants |
Customization Scope | Customization allows for the inclusion/modification of content pertaining to geographical regions, countries, and specific market segments. |
Pricing & Procurement Options | Explore purchase options tailored to your specific research requirements |
Contact Details | Consult With Our Expert
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Global Smart Inhalers Market:
By Product
- Dry Powdered Inhalers (DPIs)
- Metered Dose Inhalers (MDIs)
By Indication
- Asthma
- COPD
By Sales Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
Table of Contents
**Exclusive for Multi-User and Enterprise User.
Global Smart Inhalers Market:
By Product
By Indication
By Sales Channel
By Region
**Note: The report covers cross-segmentation analysis by region further into countries
The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.
Within our primary research, we actively engage with various industry stakeholders, conducting paid interviews and surveys. Our meticulous analysis extends to every market participant in major countries, allowing us to thoroughly examine their portfolios, calculate market shares, and segment revenues.
Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.
Our data validation standards are integral to ensuring the reliability and accuracy of our research findings. Here’s a breakdown of our data validation processes and the stakeholders we engage with during our primary research:
- Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
- Demand Side Analysis: To gain insights into adoption trends and consumer preferences, we reach out to target customers and users (non-vendors). This information forms a vital part of the qualitative analysis section of our reports, covering market dynamics, adoption trends, consumer behavior, spending patterns, and other related aspects.
- Consultant Insights: We tap into the expertise of our partner consultants from around the world to obtain their unique viewpoints and perspectives. Their insights contribute to a well-rounded understanding of the markets under investigation.
- In-House Validation: To ensure data accuracy and reliability, we conduct cross-validation of data points and information through our in-house team of consultants and utilize advanced data modeling tools for thorough verification.
The forecasts we provide are based on a comprehensive assessment of various factors, including:
- Market Trends and Past Performance (Last Five Years): We accurately analyze market trends and performance data from preceding five years to identify historical patterns and understand the market’s evolution.
- Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
- Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
- Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
- New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
- Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
- End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
- Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
- Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.
Research process adopted by TNR involves multiple stages, including data collection, validation, quality checks, and presentation. It’s crucial that the data and information we provide add value to your existing market understanding and expertise. We have also established partnerships with business consulting, research, and survey organizations across regions and globally to collaborate on regional analysis and data validation, ensuring the highest level of accuracy and reliability in our reports.