Global smart inhalers market is valued at approximately USD 16.4 Million in 2017 and is anticipated to grow with a healthy growth rate of more than 63.3 % over the forecast period 2018-2025. Technological advancements in smart inhalers are the major trend that is responsible for the wide adoption of smart inhalers globally.
Global smart inhalers market is mainly driven by the rising prevalence of respiratory diseases such as asthma and COPD. According to WHO, over 90 % of COPD (Chronic obstructive pulmonary disease) observed in middle- & low-income countries. The prevalence of COPD and asthma is rising due to several reasons such as the growing consumption of tobacco and cigarettes, rising aging population and growth of air pollutants. The prevalence rate of COPD is high in the United States. COPD is the third leading cause of death in the United States. Further, according to the Asthma Organization UK, in 2015 around 5.4 million people in the United Kingdom are presently receiving asthma treatment out of which 4.3 million are adults and rest 1.1 million are children. Moreover, in the United Kingdom, one in every 11 people is suffering from asthma. This clearly states that there is a high prevalence of respiratory diseases positively affects the demand for smart inhalers. However, lower acceptance in emerging economies is the major factor that impedes the growth of the global smart inhalers market.
On the basis of segmentation, the smart inhalers market is segmented into product, indication, and end-user. The product segment of global smart inhalers market is classified into inhalers and nebulizers of which inhalers dominates the major as inhalers are preferred as the first option of treatment, portability. Based on indication, the smart inhalers market is classified into asthma and COPD. On the basis of end-user, the market is classified into patients and research & development.
The regional analysis of smart inhalers market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America, and ROW. North America has occupied a major share in the global smart inhalers market. The major reasons for the dominance of North America are high awareness regarding asthma and COPD treatment, high technological innovations in the healthcare sector, high adoption of smart inhaler device and growing adoption of IoT in the healthcare industry. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of the Asia-Pacific region is witnessed owing to the growing population affected by respiratory diseases due to rising air pollution.
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The leading market players mainly include-
> Teva Pharmaceuticals Industries Ltd
> Vectura Group PLC
> AstraZeneca PLC
> Boehringer Ingelheim Gmbh
> Propeller Health
> Cohero Health LLC
> Adherium Limited
> Novartis AG
> Glaxo SmithKine PLC
> OPKO Health
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
o Metered Dose Inhalers
o Dry powder inhalers
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> North America
> Asia Pacific
o Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Smart Inhalers Market in Market Study:
> Key Consulting Companies & Advisors
> Large, medium-sized, and small enterprises
> Venture capitalists
> Value-Added Resellers (VARs)
> Third-party knowledge providers
> Investment bankers
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