Global Smart Inhalers Market Is Expected To Reach US$ 3,674.6 Mn by 2026
The latest market report published by Brisk Insights “Global Smart Inhalers Market - Growth, Future Prospects, Competitive Analysis, 2018 - 2026,” the global smart inhalers market was valued at US$ 1,006.6 Mn in 2017, and is expected to reach US$ 3,674.6 Mn by 2026, expanding at a CAGR of 15.7% from 2018 to 2026.
Market Insights
According to the research findings of World Health Organization (WHO), chronic obstructive pulmonary disease is responsible for 5% of global deaths annually. There is no permanent cure for chronic respiratory illness such as COPD, asthma and bronchitis. Immediate symptomatic relief provided by respiratory inhalation is the best possible cure, hence smart inhalers possess impressive market growth in the near future due to excellent patient adherence and compliance to the treatment regimen.
Metered dose inhalers (MDIs) are reigning the type segment for smart inhalers market. Excellent PK/PD profile achieved during the drug delivery and increasing demand in geriatric patients suffering with chronic illness drive the metered dose inhalers market growth. Dry powder inhalers have gained tremendous attraction in recent times due to the drug irritation and severe adverse effects caused by the propellants employed in MDIs. Nebulizers are widely employed in pediatric patients due to higher safety and efficacy associated with the drug delivery system.
Chronic obstructive pulmonary disease is currently leading the application segment for smart inhalers market. Rampant growth of smokers in developed countries and rising industrialization in developing nation has led to the rise of air pollution and exposure to occupational dust and fumes. Asthma will be the fastest growing market in the near future due to rising prevalence of hereditary asthma in children and requires immediate symptomatic relief due to constriction of respiratory muscles.
In the present scenario North America with a share of 38% is leading the regional segment for smart inhalers market. The key features that contributes towards its supremacy is rampant growth in tobacco smokers and domicile of major players such as Propeller Health, Cohero Health, 3M Healthcare etc. Europe accounts for 29% market share, on account of increasing number of pediatric patients suffering with asthma and strategic collaboration between pharmaceutical giants and software companies to provide smart inhaler system. Asia Pacific with a market share of 20% will be the fastest growing regional segment during the forecast period on account of increasing geriatric patients suffering with chronic pulmonary illness and emergence of local players exerting stringent competition to western giants in smart inhalers market.
Browse the full report Smart Inhalers Market - Growth, Future Prospects, Competitive Analysis, 2018 – 2026 at https://www.briskinsights.com/report/smart-inhalers-market
Companies in collaboration with pharmaceutical key players engaged in the development of smart inhalers are Amiko, Adherium Limited, Cohero Health, 3M Healthcare, Opko Health, Inc., Propeller Health, Philips Respironics, Sensirion AG, Teva Pharmaceutical Industries Limited and Vectura Group, Plc.
Key Market Movements:
• Increasing number of geriatric patients suffering with chronic respiratory illness
• Significant increase in the number of tobacco smokers and rising air pollution
• Recent launch of innovative smart apps and wireless services to enhance drug delivery and patient compliance