Global Smart Inhalers Market to Witness CAGR of 20.2% from 2023 to 2031, Anticipated to Reach US$ 54.5 Bn by 2031

WILMINGTON, DELAWARE, UNITED STATES, December 4, 2023 /EINPresswire.com/ -- The smart inhalers market is driven by factors such as increasing prevalence of respiratory diseases, rising demand for remote patient monitoring, and a focus on improving medication adherence. Additionally, the growing adoption of digital health solutions and advancements in sensor technology contribute to the market's growth by enhancing patient care and treatment outcomes.
Before COVID-19, the smart inhalers market showed gradual growth, primarily driven by the rising prevalence of respiratory ailments. However, post-COVID-19, the market witnessed a significant upswing. The pandemic emphasized the need for remote healthcare solutions, boosting smart inhaler adoption. These devices became vital for monitoring and managing respiratory conditions from a distance, aligning with the global healthcare shift toward digital and remote care solutions.

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Global Smart Inhalers Market Dynamics:
• Enhanced medication adherence is a significant driver in the smart inhalers market. Poor adherence to inhaler regimens remains a challenge in managing respiratory conditions. However, studies like the SMART (Study of Medication Adherence in Real Time) trial have shown that smart inhalers can significantly improve adherence rates, with patients using them correctly about 84% of the time, compared to just 30% with traditional inhalers. This has a direct impact on patient outcomes, reducing hospitalizations and healthcare costs.
• The increasing emphasis on remote patient monitoring is another key driver across the smart inhalers market. The COVID-19 pandemic augmented the implementation of telehealth and remote monitoring solutions. Smart inhalers, equipped with sensors and connectivity, allow healthcare providers to remotely track patients' inhaler use and respiratory health. This trend is supported by a study stating that the global telehealth market is expected to reach $560.22 billion by 2027, reflecting the growing importance of remote healthcare solutions.
• The rising prevalence of respiratory diseases, such as asthma and COPD, is a fundamental driver in the smart inhalers market. Globally, an estimated 339 million people suffer from asthma, and COPD is projected to be the third leading cause of death by 2030. With an aging population and increased urbanization, respiratory conditions are on the rise. Smart inhalers offer a proactive approach to managing these conditions. For instance, the global asthma management market is predicted to reach $4.17 billion by 2027, underscoring the demand for effective solutions like smart inhalers to manage respiratory health.
• The smart inhalers market is constantly evolving, with new technologies and treatments being developed all the time. New technologies, such as artificial intelligence (AI), machine learning (ML), and sensors, are being used to develop new and more advanced smart inhalers. These technologies are helping to improve the accuracy, efficiency, and usability of smart inhalers. Moreover, smart inhalers are being increasingly integrated with other digital health devices and platforms. This is making it easier for patients to manage their asthma and COPD and to share data with their healthcare providers.
• The Asia Pacific region exhibits highest growth rate in the smart inhalers market. This growth was driven by several factors, including a burgeoning population and an increasing burden of respiratory diseases. For example, India reported over 35 million asthma patients, necessitating innovative solutions like smart inhalers. Moreover, the region's efforts to improve healthcare infrastructure and accessibility further fueled the adoption of these advanced respiratory devices.

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Global Smart Inhalers Market: Competitive Scenario and Key Developments
o adherium
o AptarGroup, Inc.
o Cognita Labs, LLC
o GSK plc
o Novartis AG
o Opko Health Inc.
o Philip Morris Products S.A.
o Questex LLC
o ResMed
o Teva Pharmaceutical Industries Ltd.
o Other Industry Participants

In July 2023, Teva introduced a digitally-enhanced inhaler in the UK, marking the device's debut in a European market. The inhaler is designed for patients dealing with asthma and chronic obstructive pulmonary disorder (COPD).
In February 2022, Aptar Pharma unveiled HeroTracker Sense, an innovative digital respiratory health solution that converts a conventional metered dose inhaler (pMDI) into an intelligent connected healthcare device.

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Global Smart Inhalers Market:
By Product
o Dry Powdered Inhalers (DPIs)
o Metered Dose Inhalers (MDIs)
By Indication
o Asthma
o COPD
By Sales Channel
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

Consult with Our Expert:
Jay Reynolds
The Niche Research
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Jay Reynolds
The Niche Research
+1 302-232-5106
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