The smart inhalers market is set to reach from US$ 1,006.6 Mn in 2017 to US$ 3,674.6 Mn by 2026 at a compound annual growth rate (CAGR) of 15.7% during the forecast period from 2018 to 2026. Smart inhalers are mounted on respiratory inhalers and nebulizers and provides its services via wireless smart apps and cloud computing systems. They are useful in adjusting the inhaled dose and also reminds the patients regularly by sending alert messages to take medication on time, thereby optimally enhancing patient adherence and compliance with inhaled medications prescribed for chronic respiratory diseases such as COPD and asthma.

"Excellent drug pharmacokinetic/pharmacodynamic modeling and patient compliance drive the metered dose inhalers market growth"

Metered dose inhalers (MDIs) are supremely reigning the type segment for smart inhalers market. The inherent features associated with its formulation are excellent drug PK/PD profile and enhanced patient compliance. Availability of sensors to monitor and adjust the dose of API and increasing popularity in geriatric patients further fortify MDIs market growth. Dry powder inhalers will register excellent growth in the near future on account of rising public awareness related to the drug irritation and adverse effects caused by propellants employed in MDIs. Nebulizers are widely employed in infants due to high degree of safety and efficacy associated with the drug delivery system.

"Rampant growth in tobacco smoking population and increasing air pollution drive the COPD market growth"

In the present scenario chronic obstructive pulmonary disorders are leading the application segment for smart inhalers market. Rampant growth in tobacco smoking population and increasing air pollution together fortify the market growth of COPD. As per the statistics provided by World Health Organization (WHO) in 2016, approximately 251 million cases were reported worldwide suffering with COPD. The prevalence rate is higher in middle and low income countries owing to high exposure to occupational dust and fumes. There is no permanent cure for COPD, but effective medication with smart inhalers can improve the quality of life and lower the risk of death. Asthma holds the second position in the application segment for smart inhalers market. There are several triggering factors for asthma such as exposure to allergens, dust, smoking, allergic rhinitis and hereditary in most cases. Instant medication it the form of inhalers and nebulizers provide quick symptomatic relief in patients having asthma episodes.

"Rising prevalence of pulmonary disorders and increasing public health awareness drive the market growth in North America"

In the current scenario North America dominates the regional segment for smart inhalers market. It has a market share of 38% on account of major factors such as rising prevalence of chronic disease and rising public health awareness. According to the statistics provided by Center for Disease Control and Prevention (CDC), the age adjusted prevalence rate of COPD in the United States is 6.0%, with high prevalence reported in the female population. Domicile of key players such as 3M Healthcare, Propeller Health, Cohero Health etc., drive the market growth in North America region. Europe represents a market share of 29% and is currently the second largest regional segment for smart inhalers market. Strategic collaboration between government healthcare agencies and pharmaceutical giants and increasing number of children suffering with asthma propel the market growth in Europe. Asia Pacific represents 20% share in smart inhalers market. It will grow at a significant pace during the forecast period from 2018 to 2026 owing to the increasing geriatric population suffering with respiratory illness and emergence of local IT healthcare companies competing with major players to develop smart sensors and applications for respiratory inhalers.

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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Smart Inhalers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Smart Inhalers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Smart Inhalers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Smart Inhalers market?
• Which is the largest regional market for Smart Inhalers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Smart Inhalers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Smart Inhalers market worldwide?