Research report presented by UnivDatos, Emphasis on Product (Inhalers (Metered Dose Inhalers, Dry Powder Inhalers), Nebulizers), By Indication (Chronic Obstructive Pulmonary Disease (COPD), Asthma), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Channel), End-user (Hospitals & Clinics, Respiratory Care Centers, Others) and Geographical analysis (key regions and countries).
As per the research report, Global Smart Inhalers Market was valued at US$ 1,655.2 million in 2019 and is anticipated to reach US$ 4,563.1 million by 2026 displaying an elevated CAGR of 15.7% over the forecast period (2020-2026). Smart inhalers are inhalation devices that are used to deliver a variety of medications. 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. Due to the presence of sensors attached to the inhalers, which store data measuring the amount of dosage, increasing the drug's efficiency, the global smart inhalers market trends have gained traction in the healthcare industry due to cost-effectiveness and increased adherence to treatment by patients. The rapid rise in the incidence of respiratory diseases, the rise in air pollution, and the rise in healthcare burden, owing to higher cases of asthma and COPD, are all contributing to market growth. COPD is expected to be the third leading cause of death globally by 2030, following COPD and asthma. Other major factors driving this demand include better care choices, ease of use, and technical advances, as well as an improvement in patient adherence to smart inhalers. The lack of reimbursement for smart inhalers, as well as the limited availability of smart inhalers in developed regions, is expected to limit the global smart inhaler market's development.
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“Amongst product type, Inhalers dominated the global smart inhalers market, with 88.6% share and is projected to dominate the market by 2026.”
The study divides the global smart inhalers industry into two categories: inhalers (Metered Dose Inhalers, Dry Powder Inhalers) and nebulizers. Due to the high adoption of these devices, the market for metered-dose inhalers is expected to grow at a CAGR of 15.1% over the forecast period 2020-2026.
“Chronic Obstructive Pulmonary Disorder (COPD) indication segment is expected to dominate the use of smart inhalers in 2018, however Asthma indication would grow at highest CAGR growth”
The global smart inhalers market is divided into two categories based on indication: chronic obstructive pulmonary disease (COPD) and asthma. Since COPD is projected to be the third leading cause of death globally by 2030, it occupied the largest share and is expected to retain its supremacy during the forecast period 2020-2026. In 2018, the division brought in $ 835.5 million in sales.
“Hospital Pharmacies was the most preferred distribution channel for smart inhalers; however, Online Pharmacies are expected to witness high adoption during the analyzed period”
The study divides the global smart inhaler industry into Hospital Pharmacies, Retail Pharmacies, and Retail Pharmacies based on delivery channel. Hospital pharmacies became the most common medium of delivery in 2018, accounting for more than 70% of all sales.
“Amongst end-user, Hospitals & Clinics is anticipated to dominate the Global Smart Inhaler market by 2026.”
The global smart inhaler market is divided into three segments based on end-users: Hospitals & Clinics, Respiratory Care Centers, and Others. Hospitals and Clinics were the primary end-users of smart inhalers in 2018, and this trend is projected to continue over the forecast period. During the period 2020-2026, however, Respiratory Care Centre is projected to expand at a CAGR of 17.7%.
“North America represents as the largest market for smart inhaler globally, followed by Europe and Asia-Pacific”
The report also provides a global regional-level overview of the Smart Inhaler market, which includes major markets in North America (US, Canada, and Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and Rest of the World. North America brought in US$ 651.0 million in 2018 which is forecast to bring in US$ 1,904.8 million by 2026. The supremacy is due to a high incidence of respiratory diseases, a growing elderly population, and widespread public recognition.
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