Smart Inhalers Market Strategic Insights and Updates by 2031
The smart inhalers market size is projected to reach US$ 23.98 billion by 2031 from US$ 2.95 billion in 2023. The market is expected to register a CAGR of 29.9% during 2023–2031. Increasing acceptance of mobile health technology is likely to remain key trends in the market.
Smart Inhalers Market Analysis
The prevalence of asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and other respiratory diseases is increasing across the globe. For example, according to the World Health Organization (WHO), in 2022, the number of asthma-related deaths in 2019 was 455,000. In addition, the Burden of Disease Study in 2019 recorded 212.3 million cases of COPD worldwide, resulting in 3.3 million deaths. In addition, one of the major causes of respiratory diseases such as COPD and asthma is the rise in air pollution. Further, the Organization for Economic Co-operation and Development (OECD) estimates that global emissions of greenhouse gases are likely to grow by ~50% by 2050, primarily due to a 70% increase in CO2 emissions. Additionally, the beneficial effects on patients through combination therapy for asthma and COPD have increased, which has increased the demand for smart inhalers as they are one of the best ways to administer drugs. Hence, the growing prevalence of respiratory diseases among the global population is one of the factors driving the growth of the smart inhalers market.
Smart Inhalers Market Overview
Major factors driving the market growth includes rising cases of respiratory disorders, as well as growing adoption of generic inhalers. Additionally, increasing product development activities is likely to emerge as significant future trend in the market during the forecast period. However, lack of early diagnosis and high cost of inhalers is among the market deterrent factors.
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Smart Inhalers Market: Strategic Insights
Smart Inhalers Market
-
CAGR (2023 - 2031)
29.9%
-
Market Size 2023
US$ 2.95 Billion
-
Market Size 2031
US$ 23.98 Billion
Market Dynamics
GROWTH DRIVERS
- Growing Prevalence of Respiratory Diseases Among the Global Population Drives the Smart Inhalers Market
FUTURE TRENDS
- Rising Rate Of Tobacco Smokers Drives the Smart Inhalers Market
OPPORTUNITIES
- Increasing Product Development Activities wll be the trend the Smart Inhalers Market
Key Players
- GlaxoSmithKline plc
- Cohero Health Inc
- Crux Product Design Ltd
- Adherium Limited
- Novartis AG
- Vectura Group plc
- Findair Sp z o o
- Teva Pharmaceutical Industries Ltd
- 3M
- Amiko Digital Health Limited
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Product
- Nebulizers and Inhalers
Disorder
- Chronic Obstructive Pulmonary Disease
- Asthma
End User
- Home-Care Settings and Hospitals & Clinics
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Smart Inhalers Market: Strategic Insights
-
CAGR (2023 - 2031)29.9% -
Market Size 2023
US$ 2.95 Billion -
Market Size 2031
US$ 23.98 Billion
Market Dynamics
- Growing Prevalence of Respiratory Diseases Among the Global Population Drives the Smart Inhalers Market
- Rising Rate Of Tobacco Smokers Drives the Smart Inhalers Market
- Increasing Product Development Activities wll be the trend the Smart Inhalers Market
Key Players
- GlaxoSmithKline plc
- Cohero Health Inc
- Crux Product Design Ltd
- Adherium Limited
- Novartis AG
- Vectura Group plc
- Findair Sp z o o
- Teva Pharmaceutical Industries Ltd
- 3M
- Amiko Digital Health Limited
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Nebulizers and Inhalers
- Chronic Obstructive Pulmonary Disease
- Asthma
- Home-Care Settings and Hospitals & Clinics
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Smart Inhalers Market Drivers and Opportunities
Rising Rate Of Tobacco Smokers to Favor Market
As per the Action on Smoking and Health (ASH) Fact Sheet, in the UK in 2022, 12.9% of adults are smokers, with 14.6% of men and 11.2% of women smoking. This equates to around 6.4 million people in the population. The adult smoking rates by country in the UK in 2022 were as follows: England: 12.7%, Wales: 14.1%, Scotland: 13.9%, and Northern Ireland: 14.0%. Rising rate of tobacco smokers is major drivers of global smart inhalers market share.
Increasing Product Development Activities
With new medical knowledge and effective medicines, treatment with a wide range of asthma inhalers continues to advance. Rising use of ventilator combination therapies and increasing investments by major players in developing sophisticated ventilator inhalers are boosting the demand for respiratory inhalers. In addition to the numerous advantages of the device such as portability, convenience, and effectiveness, the growing number of developments is expected to strengthen the demand for smart inhalers in the coming years. A few of the major developments and approvals are listed below:
- In May 2024, Teva launched a digitally-enabled inhaler in the UK, marking its debut in the European market. The inhaler is intended for use by patients with chronic obstructive pulmonary disorder (COPD) and asthma.
- In March 2024, Berry Global introduced the BerryHaler, a dual chamber dry powder inhaler (DPI) with a dose counter. This new inhaler is designed to improve patient access to and support the effective delivery of combination drugs.
Thus, such growing advancements by various market players and product approvals are likely to catalyze the growth of the global smart inhalers market during the forecast period.
Smart Inhalers Market Report Segmentation Analysis
Key segments that contributed to the derivation of the smart inhalers market analysis are product, , disorder, and end user.
- Based on product, the smart inhalers market is bifurcated into nebulizers and inhalers. The inhalers segment held a larger market share in 2023.
- By disorder, the market is bifurcated into asthma and chronic obstructive pulmonary disease. The asthma segment held the larger share of the market in 2023.
- In terms of end user, the market is bifurcated into home-care settings and hospitals & clinics. The home-care settings segment held a significant share of the market in 2023.
Smart Inhalers Market Share Analysis by Geography
The geographic scope of the smart inhalers market report is mainly divided into five regions: North America, Asia Pacific, Middle East & Africa, Europe, and South & Central America.
North America has dominated the market. The US held the largest share of the market in this region in 2023, followed by Canada, owing to the increasing prevalence of COPD and asthma among people in the region. According to an article published in Merck Sharp & Dohme (MSD) Manual, ~16 million people suffer from COPD, which is a leading cause of death, claiming over 150,000 lives annually in the US. Thus, growing chronic respiratory disorder in the US are driving the growth of respiratory inhalers market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Smart Inhalers Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 2.95 Billion |
Market Size by 2031 | US$ 23.98 Billion |
Global CAGR (2023 - 2031) | 29.9% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Product
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Smart Inhalers Market News and Recent Developments
The smart inhalers market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart inhalers market are listed below:
- In February 2022, Aptar Pharma, a global leader in drug delivery systems, services and active material science solutions, announced the launch of HeroTracker Sense, a novel digital respiratory health solution that transforms a standard metered dose inhaler (pMDI) into a smart connected healthcare device. (Source: Aptar Pharma, Press Release, February 2022)
- In October 2021, BreatheSuite announced that it received 510(k) clearance from the FDA for its Metered-Dose Inhaler V1 device, which turns existing inhalers into smart inhalers for people with asthma and COPD. (Source: BreatheSuite, Press Release, October 2021)
Smart Inhalers Market Report Coverage and Deliverables
The “Smart Inhalers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Smart inhalers market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Smart inhalers market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Smart inhalers market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart inhalers market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Disorder, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The smart inhalers market is estimated to record a CAGR of 29.9% till 2031.
The smart inhalers market is expected to be valued at US$ 23.98 billion in 2031.
Increasing product development activities be the trend in the smart inhalers market
The smart inhalers market majorly consists of the players, including GlaxoSmithKline plc., Cohero Health, Inc., Crux Product Design Ltd, Adherium Limited, Novartis AG, Vectura Group plc, Findair Sp. z o. o., Teva Pharmaceutical Industries Ltd., 3M, and Amiko Digital Health Limited.
Factors such as increasing prevalence of respiratory diseases and rising rate of tobacco smokers propel the smart inhalers market.
The North America region held the largest share of in the smart inhalers market 2023.