Absolute Market Insights recent analysis of the Smart Inhaler Technology Market finds that the increasing demand from the The growth of the smart inhalers market is majorly driven due to rise in prevalence of COPD and asthma. is expected to witness maximum growth in the Smart Inhaler Technology Market during the forecast period. The global Market revenue stood at a value USD 118 Mn in the year 2021.
Market Synopsis
Smart inhalers are devices utilized for delivering a variety of drugs by inhalation. Anti-cholinergic, glucocorticoids, insulin, and beta-agonists are among the drugs used in inhalers for the treatment and prevention of respiratory diseases, such as asthma and chronic obstructive pulmonary disease (COPD). These inhalers are termed smart inhalers, owing to the sensors attached as a clip on to inhalers monitoring the right dose per intake and the technique used for inhaling the medication. The data acquired by the sensor is shared with the patient and healthcare professionals to track their inhaler usage. The data monitored is then shared using the Bluetooth technology to their mobile apps through an online platform and subsequently electronic health records (EHR) or electronic medical records (EMR) are maintained.
Smart Inhaler Technology Market on the basis of different parameters, such as forward/backward integration, economies of scale, the share of various distribution channels, various factors affecting consumer behaviour such as brand loyalty, price, and product availability among others, capital investments, regulatory landscape, production rights and patents, promotional strategies, and other customer preferences. This data is likely to help the industry stakeholders and stimulate the decision-making process.
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Smart Inhaler Technology Market is predicted to grow at a CAGR of roughly 25.10% during the forecast period.
- The Smart Inhaler Technology Market was estimated to be worth roughly 118 Mn in 2021 and is expected to reach USD 1,113.57 Mn by 2028; based on primary research.
- On the basis of region, is projected to dominate the worldwide Smart Inhaler Technology Market.
Market Dynamics:
Industry Analysis:
The report covers exhaustive analysis on the global Smart Inhaler Technology Market. Industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. It includes an extensive competitive landscape covering key players in the industry and their comparative study on the basis of different parameters such as company overview, product portfolio, market revenue, business, and marketing strategies. Moreover, the report covers a thorough analysis drivers, restraints, and opportunities considering regional growth factors, technological advancements, and availability of substitute, regulatory norms, and such other growth impacting factors.
Drivers:
Breathing-related diseases are on a rise due to several factors, majorly pollution and climatic changes. Presence of harmful allergens in the air along with pollutants is the reason why numerous people are being infected. The number of people suffering from asthma and other breathing disorders have found solace in various type of inhalers. These inhalers are easily available and are capable of providing instant relief, ultimately making life easier for the patients.Some smart inhalers feature sensors that can detect whether an individual is in a polluted or pollen-filled environment, send helpful reminders, and tell if one needs to check its inhaler technique. An individual does not require to keep their own records because they’re all designed to automatically measure how often one uses its inhaler.
Restraint:
As smart inhalers are wirelessly connected and keep a record of the patient’s data, the risk of data leakage and misuse of data increases significantly. As smart inhaler is a new device, its acceptance among patients as well as physicians is considerably low, which is expected to restrain the growth of the market.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pervasive might lead to a significant delay in the commercial roll-out of the packaging industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Quarterly Market Revenue Forecast 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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The Report on Smart Inhaler Technology Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America generates the highest amount of revenue for global smart inhaler technology market. Degrading lifestyle along with excessive low-quality/ less nutritional food is making more people more to chronic diseases like asthma. Deteriorating immune system due to unhealthy and sedentary lifestyle is impacting health of majority of Americans state several surveys, and this is immensely helping this market to grow in the region.
List of Prominent Players in Smart Inhaler Technology Market:
- Adherium
- Aptar Group Inc.
- Herotracker
- AstraZeneca Inc.
- Haler
- BreatheSuite Inc.
- Cognita Labs
- Findair Sp. Zo. O
- GlaxoSmithKline Plc
- Gets
- Novartis AG
- OPKO Health Inc.
- Next generation
- Philip Morris International Inc. (Vectura Group Plc)
- ResMed Inc.
- Sensirion AG
- Teva Pharmaceutical Industries Ltd.
- Other Market Participants
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Smart Inhaler Technology Market?
- How will the Smart Inhaler Technology Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Smart Inhaler Technology Market?
- What is the Smart Inhaler Technology Market drivers and restrictions?
- What will be the CAGR and size of the Smart Inhaler Technology Market throughout the forecast period?
This market titled Smart Inhaler Technology Market will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
Market Size Provided for Years: 2016-2028
Base Year: 2021
Historic Years: 2016-2020
Forecast Years: 2022-2028
Segmentation Covered:
- By Inhaler Type
- Breath-actuated MDIs (metered-dose inhalers),
- DPIs (dry powder inhalers),
- Propellant
- By Indication
- Asthma,
- COPD,
- Others
- By Distribution Channel
- Hospital Pharmacies,
- Retail Pharmacies, Online Pharmacies
- By End User
- Adults,
- Kids
Region & Counties Covered
- North America
- The U.S.
- Canada
- Mexico
- 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
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Report Coverage
- Market growth drivers
- restraints, opportunities
- Porter’s five forces analysis
- PEST analysis
- Value chain analysis
- Regulatory landscape
- Technology landscape
- Patent analysis
- Market attractiveness analysis by segments and Regional
- Company market share analysis
- COVID-19 impact analysis
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