Smart Inhalers Market

Market Study on Smart Inhalers: Online Sales to Increase at Fast Pace Over Coming Years

Smart Inhalers Market Segmented By DPI-based Smart Inhalers, MDI-based Smart Inhalers Type for Asthma and COPD Disease Indication

  • November-2021
  • PMRREP26881
  • 193 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Snapshot

Increasing instances of respiratory disorders have created a substantial market for respiratory inhalers and respiratory therapies. This revised analysis by Persistence Market Research predicts the global smart inhalers market to rake in revenue worth more than US$ 1 Bn by the end of 2031, which was just around US$ 120 Mn in 2020. Through 2031, sales of connected smart inhalers are slated to surge at a CAGR of 23.5%.

The global respiratory inhalers market was worth US$ 34 Bn in 2020, and smart inhalers accounted for a mere 0.3% share of that revenue, which is likely to increase substantially over the coming years. Increasing incidence of COPD and asthma have created a lucrative setting for the sale of inhaler devices, especially smart inhalers.

Smart Inhalers Market Size (2020)

US$ 120 Mn

Sales Forecast for Smart Inhalers (2031)

US$ 1 Bn (2031)

Market Growth Prediction for Decade

23.5% CAGR (2021-2031)

Leading Regional Market

North America

Find Out More about the Report Coverage

Companies

Company Profiles

  • OPKO Health, Inc.
  • AstraZeneca plc
  • GlaxoSmithKline
  • Propeller Health
  • Aptar Pharma
  • Novartis AG
  • Boehringer Ingelheim
  • Teva Pharmaceuticals
  • H&T Presspart Manufacturing Ltd.
  • Sensirion AG
  • Cohero Health, Inc.
  • Others.

Demand Analysis of Smart Inhalers (2016 to 2020) Vs Market Forecasts (2021 to 2031)

Incidence of respiratory disorders has increased over the past few decades, and this can be attributed to rising geriatric population and increased air pollution across the globe. Instances of asthma and COPD are also expected to rise substantially over the coming years, across regions.

Inhaled medication is one of the most preferred ways to deliver medication for respiratory disorders, and this gives inhaler devices utmost importance for respiratory therapies and treatment. Technological proliferation has increased substantially over the past decade, and smart technology is being integrated with more medical devices than ever before.

Digital inhalers provide multiple advantages over conventional inhalers and create a more efficient and affordable treatment solution for patients as well as providers. As such, over the decade, demand for smart inhalers is anticipated to rise at a stellar CAGR of 23.5%.

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How is Demand for Smart Inhalers Expected to Shape Up Over the Decade?

Use of digital inhalers is expected to increase over the next ten years as collaborations between digital and pharma firms increase. Manufacturers of smart inhalers are focusing on collaborations and mergers to combine the best of technologies to create the optimum smart inhaler product. Adoption of digital-improved products is expected to increase, and this trend would also propel demand for smart inhalers.

As awareness about the advantages of smart inhalers increases, demand for them is also expected to follow an upward trend. More healthcare professionals are refining their healthcare services with the inclusion of smart technology, and the same goes for smart inhalers as well. Smart inhalers increase medication adherence, provide cost-effective drug tracking and management, reduce treatment costs, and provide detailed insights on patient data to optimize treatment and reduce steroid use.

With these advantages being realized by populations across the globe, demand for smart inhalers is anticipated to be substantial by the end of this decade.

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What Challenges Do Smart Inhaler Manufacturers Have to Overcome?

While the advantages of smart inhalers make them a preferred choice over conventional inhalers, their adoption is limited by a number of factors. Lack of awareness is a major challenge that has to be overcome by manufacturers and suppliers as well. This lack of awareness is specific to developing nations with less developed healthcare infrastructure.

Limited availability of smart inhalers is also a factor that is restraining the potential of the market. Manufacturers of smart inhalers should focus on increasing their manufacturing and distribution capabilities across various geographies in order to overcome the gap in the supply and demand chain. Limited reimbursement for smart inhalers is also a factor restraining their adoption to a certain extent.

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Which Regions are Expected to be Significant Markets for Manufacturers of Smart Inhalers?

This research details the global smart inhaler sales across regions such as North America, Latin America, Europe, APAC, and MEA.

  • The smart inhalers market in North America is anticipated to have a dominant outlook over the forecast period, and this can be attributed to the developed healthcare infrastructure in the region and increased awareness about the benefits of smart inhalers.
  • Similarly, the European region is anticipated to see an increase in adoption of smart inhalers as the availability of these devices increases over time.
  • The market in the APAC region is predicted to rise at a high CAGR over the next ten years as healthcare expenditure and spending in the region increases with rising per capita income and developing healthcare infrastructure.
  • The market for smart inhalers in the MEA region is expected to see a relatively slow growth rate, with lack of awareness being a major obstructing factor.

smart-inhalers-market

Country-wise Analysis

Why is India Turning Out to Be a Lucrative Market for Smart Inhaler Sales?

India has a healthcare infrastructure that is still developing and has a lot of potential, and this makes it a very lucrative market for smart inhalers as well. Being a developing economy, India is undergoing rapid industrialization and urbanization, which has increased the level of pollution in the nation, and this has subsequently driven up instances of respiratory disorders as well. Rise in asthma cases has spawned huge demand for asthma inhalers in the nation.

The nation is also seeing an increase in its geriatric population, which is more at risk of respiratory disorders. All these factors collectively make India a very lucrative market for smart inhalers. As awareness about smart inhalers increases and their benefits are realized, product adoption in India is expected to see a significant increase.

Why is Adoption of Smart Inhalers Expected to be High across the U.S.?

The U.S. has a developed and advanced healthcare infrastructure, which makes it a lucrative market for the adoption of smart medical technologies such as smart inhalers.

High demand and adoption of smart inhalers in the U.S. can mainly be attributed to the rising healthcare spending potential of the population. Awareness regarding new technologies such as smart inhalers is high in the nation, and this also favours the adoption of these connected inhaler devices.

Category-wise Insights

Which Distribution Channel Will Lead the Sales of Smart Inhalers?

As smart inhalers are not widely popular, their sales are limited to certain distribution channels, with their sales via hospital pharmacies being most significant. Availability of smart inhalers in hospital pharmacies is higher, and this is what is driving sales through this channel.

This, however, is expected to change as availability through online pharmacies is expected to increase substantially over the decade. This can be associated with rising popularity of online purchases and manufacturers targeting multiple geographies via online sales channels.

COVID-19 Pandemic Impact Analysis

The coronavirus outbreak of 2020 completely revolutionized the way the world approached healthcare and changed the workings of the healthcare industry in a way no one had ever expected. Prevalence of deadly respiratory diseases has created an emphasis on the early detection of these diseases before they become a widespread infection.

Adoption of smart inhalers is expected to see a rise in the post-pandemic era as healthcare professionals lean toward connected medical devices in order to ensure best treatment and consultation is delivered to patients, irrespective of the situation, because restrictions of the pandemic affected a lot of patients as they weren’t able to get consultations and treatments in physical presence. The pandemic showed how severe respiratory disorders and infections can get if not dealt with effectively and with the utmost attention.

Competitive Landscape

Key market participants are focusing on mergers and collaborations to increase their geographical presence. Manufacturers are focusing on creating awareness in underdeveloped regions and are employing various strategies to boost their sales in these regions.

  • In October 2020, Clin-e-cal, a digital health startup, raised over £130,000 on a crowdfunding platform named Crowdcube. The funding would be utilized in commercialization and scaling of the startup’s smart inhaler monitoring technology, which analyzes sound signals associated with smart inhalers and provides real-time feedback on inhalation techniques and also aids in tracking medical adherence.
  • In January 2020, Navia Life Care and Aptar Pharma announced a collaborative effort through which they would be launching the digital ecosystem of MyAdhero App. In collaboration with Lupin, Aptar Pharma has launched the first-of-its-kind connected device for MDI inhalers, and this app will be its technology platform.

More recent developments related to key manufacturers of smart inhalers have been also been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Smart Inhalers Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Middle East and Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • and GCC Countries

Key Market Segments Covered

  • Product Type
  • Disease Indication
  • Distribution Channel
  • Region

Key Companies Profiled

  • OPKO Health Inc.
  • AstraZeneca plc
  • GlaxoSmithKline
  • Propeller Health
  • Aptar Pharma
  • Novartis AG
  • Boehringer Ingelheim
  • Teva Pharmaceuticals
  • H&T Presspart Manufacturing Ltd.
  • Sensirion AG
  • Cohero Health Inc.

Pricing

Available upon Request

Key Segments Covered in Smart Inhalers Industry Research

By Product Type

  • DPI-based Smart Inhalers
  • MDI-based Smart Inhalers

By Disease Indication

  • Smart Inhalers for Asthma
  • Smart Inhalers for COPD

By Distribution Channel

  • Smart Inhalers Sold at Hospital Pharmacies
  • Smart Inhalers Sold at Retail Pharmacies
  • Smart Inhalers Sold through Online Pharmacies

Media Release

- FAQs -

As per this smart inhalers industry analysis, the market is predicted to surge at a CAGR of around 23.5% over the decade.

The market for smart inhalers in North America is expected to hold a dominant share in the global market landscape over the forecast period.

The global smart inhalers market was worth US$ 120 Mn in 2020.

India and China are expected to spearhead demand for smart inhalers in the APAC region.

Sales of smart inhalers via online pharmacies are anticipated to rise at the highest CAGR over the next ten years.

GlaxoSmithKline Plc., Teva Pharmaceutical Industries Ltd., Novartis AG, AstraZeneca plc, Boehringer Ingelheim International GmbH, Aptar Pharma (AptarGroup, Inc.), Propeller Health, and OPKO Health Inc. are major manufacturers of smart inhalers, and have been profiled in this research analysis.

Smart inhaler sales revenue is estimated to top US$ 1 Bn by the end of 2031.

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