Global Smart Inhalers Market - 2022-2029

Market Overview

Smart Inhalers Market size was valued US$ 167.40 million in 2021 and is estimated to reach US$ 995.38 million by 2029, growing at a CAGR of 26.1% during the forecast period (2022-2029).

Smart inhalers are connected to multiple devices like mobiles, laptops, personal computers, etc., to monitor the patient's information related to respiratory diseases. Smart inhalers can be connected through mobile induction which helps patients and healthcare providers monitor important information like medication schedules and dosage reminders. Inhalers use Bluetooth technology to detect, remind patients about the inhaler's use and medication timing to take care of patients. Smart inhalers can improve patients' health to provide crucial for asthma and COPD information to keep their condition under control.

Market Dynamics

The global smart inhalers market is growing due to several factors such as rising demand for smart inhalers due to the increasing prevalence of Asthma, COPD due to a surge in air pollution and smoking habits, various new cost-effective product launches and novel technological advances.

Rising incidence of Asthma and various new technological advancements are expected to drive market growth.

The rising demand for smart inhalers drives the market due to the increasing prevalence of Asthma, COPD due to a surge in air pollution and smoking habits. According to the ODPHP Office of Disease Prevention and Health Promotion, in 2020, the estimated Asthma patients were over 339 million people globally among which 25 million are from United States, 14.8 million are diagnosed with COPD these are the most common disease among children and the geriatric population. This is a growing non-communicable disease owing to a surge in smoking habits and rising global air pollution. Smart inhalers can be connected via wireless technology through the mobile app & web platform, providing crucial for asthma collects data for doctors about each drug usage and information.

There is a rise in the launching and FDA clearance of new innovative technology implemented with patient monitoring and tracking Bluetooth enabled and app-based smart inhalers for Asthma and other respiratory diseases. On 23rd Jan 2020, the U.S. Food and Drugs Administration (FDA) has been cleared the smart inhaler cap from Cognita Labs, Known as CapMedic. The device can track patients' signals with a feedback mechanism and provide guidance to use inhalers correctly.

High cost associated with these smart inhalers is expected to hamper the market growth.

The global smart inhalers market can be restrained by the high cost of these smart inhalers. These inhalers keep the data records with themselves so the data can be misused and even there are chances of data leakage hence limiting the market growth.

Industry Analysis

The global smart inhalers market provides in-depth analysis of the market based on various industry factors such as Porter's Five Forces, Regulatory Analysis, Supply Chain Analysis, Pricing Analysis.

Segment Analysis

Type segment is expected to hold the largest market share in global smart inhalers market

The global smart inhalers market is segmented based on type, distribution channel, Indication, and region.

The global smart inhalers market is bifurcated into dry powder inhalers, nasal inhalers, metered-dose inhalers, and others in terms of types. This metered dose inhalers segment has the highest share due to the increasing new technology-based launching of smart inhalers by prominent players like Teva Pharmaceuticals, Novartis, Vectura Group, MannKind, Respirices, and Lupin. For instance, on 22nd Nov 2019, Lupin Company launched ADHERE as a smart device for metered-dose inhalers. This inhaler has the facility to connect with smartphone Indication via Bluetooth. It is a reusable smart device that tracks and sends reminders to the patient's daily medication usage and consumption patterns via smartphone through the "MyAdhero" app.

Similarly, dry powder inhalers and nasal inhalers are also growing faster due to a surge in the prevalence of respiratory diseases like Asthma, COPD, and many others across the globe with the population's surgeon. Dry powder inhalers are growing faster due to rising awareness of their advantages, like avoiding drug irritation and easy use.

Depending upon indication, the global smart inhalers market is divided into Asthma and chronic obstructive pulmonary disease (COPD). Among this Asthma, the segment has the largest share due to the increasing prevalence of Asthma disease around the globe due to the surge in people's smoking habits.

Similarly, the chronic obstructive pulmonary disease (COPD) segment is also growing faster with a surge in the global COPD disease burden. This is primarily due to increasing air pollution worldwide which propels this segmental growth during the forecast period.

The global smart inhalers are segmented into retail pharmacies, respiratory care centers, hospital pharmacies, and online pharmacies depending on the distribution channels. Among these, the retail pharmacies segment had the highest market share in 2019. This growth is anticipated due to the rise in pharmacies' retail shops, increasing awareness about non-communication diseases like Asthma, COPD, etc.

Similarly, the online pharmacies segment has the highest market share due to increased healthcare online consulting trends with the surge in online sales through portals like Flipkart, Amazon, etc. Furthermore, respiratory care centers and hospital pharmacies are also growing faster due to the increasing number of hospitals and respiratory centers worldwide, with the surge in the prevalence of respiratory diseases due to a surge in the global air pollution due to smoke.

Geographical Analysis

North America region holds the largest market share in the global smart inhalers market

By region, the global smart inhalers market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global smart inhalers market and expected to grow at the highest CAGR during the forecasted period due to the presence of advanced technology adoption and surge in prevalence of respiratory diseases followed by the European region. According to the American Lung Association, there are around 12.5 million people diagnosed with COPD. Estimated around 6.1 million children under 18 years were affected due to Asthma in North America, followed by Europe. This propels the smart inhalers demand in this region with increasing the number of leading players and the presence of advanced technology in this region. According to World Health Organisation, in 2019 Chronic pulmonary disease caused 3.23 million deaths making it third leading cause of worldwide deaths.

The Asia-Pacific region is expected to have positive market growth due to the growing prevalence of Asthma due to surging in smoking habits and increasing air pollution. Forum of International Respiratory Societies in 2022, has reported more than 65 million people are suffering from COPD, 3 million people dies every year with COPD and 1.6 million people dies from lung cancer every year. In China there are 300 million smokers with annual consumption of 2 trillion cigarettes, the highest tobacco consuming nation with a record of a single person dies every 30 seconds from tobacco use. Furthermore, increasing the adoption of advanced technology to prevent such respiratory disorders with smart inhalers with the surge in population will boost the market demand over the forecasted period.

Competitive Landscape

The global smart inhalers market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition Teva Pharmaceuticals, Novartis, Vectura Group, MannKind, Respironics, Orion Pharm, Hovione, AstraZeneca, OPKO Health Inc, Boehringer-Ingelheim, 3M, BreatheSuite Inc, Sunovion Pharmaceuticals, Aristopharma, GlaxoSmithKline and Cohero Health LLC are the leading market players with significant market share.

Major players receive new technology sensors and app-based advanced smart inhalers for curing respiratory diseases in the healthcare industry. For instance, on 22nd Jan 2020, BreatheSuite Inc Company had launched the world's first smart inhaler, which the FDA approved. BreatheSuite Inc's smart inhaler, named ProAir Digihaler, was launched in the United States market through an sNDA Indication. The ProAir Digihaler has a sensor used in real-time tracking, monitoring the patients, and collecting the syncs data through a mobile app.

Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 28th January 2020, Aptar Pharma, a leading drug delivery services and active packaging solutions Company has been partnered with Lupin Limited to launch India's first smart connected device for metered-dose inhalers (MDI) called ADHERO.

Key Companies to Watch

Teva Pharmaceuticals:

Overview: Teva Pharmaceuticals is Israel-based multinational pharmaceutical company, founded in 1901 and headquartered in Tel Aviv, Israel. It specializes in generic drugs (primary), active pharmaceutical ingredients and proprietary pharmaceuticals.

Product Portfolio:

AirDuo Digihaler: AirDuo Digihaler (fluticasone propionate and salmeterol) inhalation powder is used for asthma patient's treatment aged 12 years and older. It is only for patients uncontrolled on an inhaled corticosteroid (ICS).

Key Developments: In May 2022, Teva pharmaceuticals announced novel findings on the basis of latest clinical thresholds on SABA short acting beta agonist use that is useful for patients with asthma and potential of ProAir Digihaler inhalation powder (digital inhaler).

The global smart inhalers market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.