Smart Inhalers Market Size to Reach USD 1406 Million by 2026 - Valuates Reports

BANGALORE, India, July 1, 2020 /PRNewswire/ -- Smart inhalers, predominantly used as clip-on sensors, are fastened on top of a regular nebulizer to treat the chronic obstructive pulmonary disorder (COPD) and asthma. Moreover, the smart inhalers also help monitor the technique used for effectively inhaling the medicine compared to the normal inhalers. 

The global smart inhalers market size was valued at USD 34 Million in 2018 and is estimated to reach USD 1,406 Million by 2026, growing at a CAGR of 58.4% from 2019 to 2026.

This research includes the global market study of smart inhalers and the latest trends from 2019 to 2026 to recognize the prevailing opportunities and strategic evaluation. Global smart inhalers Market size and estimates are based on a comprehensive analysis of key industry developments. Strategic business planning is supported by a detailed study of global smart inhalers market share focused on innovative products.

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TRENDS INFLUENCING SMART INHALERS MARKET SIZE

The global demand for smart inhalers is powered by the growing incidence of people suffering from asthma and chronic obstructive pulmonary disorders and technical developments in creating improved tools and systems for inhaling.

The smart inhaler market is driven mainly by innovation, where the focus is on digital collaborations between pharmaceutical and tech companies. This continuous collaboration for R&D purposes is expected to increase the smart inhaler market size during the forecast period.

The treatment cost associated with respiratory disorders is considered a major issue for payers, patients, and prescribers. Smart inhalers are introduced as a novel approach to promoting adherence by monitoring medication use based on respiratory disorders. Smart inhalers have been successfully improving patient outcomes while reducing the significant financial costs associated with suboptimal medication adherence. These factors are, in turn, fuelling the growth of smart inhaler market size.

The lack of knowledge about the symptoms of COPD and asthma has left most people with respiratory conditions undiagnosed and often untreated. This is considered to be the primary factor that hampers business growth.

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SMART INHALER MARKET SHARE ANALYSIS

Due to factors such as improved healthcare services and facilities, a rise in the number of patients suffering from asthma and chronic obstructive pulmonary diseases, and growth in the geriatric population, North America is expected to hold the largest smart inhalers market share.

The Asia Pacific has vast untapped opportunities in the smart inhalers market as it has a growing population base combined with rising disposable incomes and increasing awareness about the use of digital devices for proper disease management.

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SMART INHALERS MARKET SEGMENTS:

By Product Type

• Inhalers
• Metered Dose Inhalers
• Dry Powder Inhalers
• Nebulizers.

By Application

• Asthma
• COPD.

By Distribution Channel

• Hospitals
• Retail Pharmacies
• Online Pharmacies.

Key Players :

• smart inhalers market include Adherium
• AstraZeneca
• Boehringer Ingelheim
• Cohero Health
• Glaxo Smith Kline
• Novartis International AG
• Opko Health
• ResMed, Inc
• Teva Pharmaceutical Industries Limited
• Vectura Group plc.

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SIMILAR REPORTS :

• Internet of Things in Healthcare Market Report

The global IoT in healthcare market size was valued at USD 113.75 Billion in 2019 and is expected to reach USD 332.67 Billion by 2027, registering a CAGR of 13.20% from 2020 to 2027.

The major factors that contribute toward the growth of the iot in healthcare market size are technological advances, increasing incidence rates of chronic diseases such as COPD, genetic diseases, respiratory diseases, and others, increased connectivity to high-speed internet, and implementation of favorable government regulatory policies. 

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• Nebulizers Market Report

The global Nebulizers market size is valued at 797 million USD in 2020 is expected to reach 1125.7 million USD by the end of 2026, growing at a CAGR of 5.0% during 2021-2026.

The rising consumption of alcohol, tobacco, ultra-processed products, including sugar-sweetened beverages, is a major cause behind the increasing prevalence of respiratory disease in North America. 

The Nebulizers Market size is expected to grow steadily during the forecast period due to the increasing incidence rate of chronic respiratory diseases, increasing demand for home healthcare devices, and the growing geriatric population. 

The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East & Africa, etc. The report lists the major manufacturers in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and leadership changes to stay ahead in the competition. 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-23H483/global-nebulizers

• Dry Powder Inhalers Market Report

The global Dry Powder Inhalers market size is valued at 3201.1 Million USD in 2020 is expected to reach 3632 Million USD by the end of 2026, growing at a CAGR of 1.8% during 2021-2026.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-0D2781/global-dry-powder-inhalers

• Digital Dose Inhaler Market Report

The global Digital Dose Inhaler market size is projected to reach USD 1384.4 Million by 2026, from USD 1244 Million in 2020, at a CAGR of 10.4%% during 2021-2026.

The rising geriatric population affected by respiratory disorders of both severe and mild forms, is the major factor predicted to increase the Digital Dose Inhaler market size during the forecast period. 

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-30O2380/impact-of-covid-19-outbreak-on-digital-inhalers-global

• Respiratory Inhalers Market Report

The global Respiratory Inhalers market size is projected to reach USD 29220 Million by 2026, from USD 28800 Million in 2020, at a CAGR of 1.3%% during 2021-2026.

North America held the largest Respiratory Inhalers market share of 35.1%. This widespread use of respiratory inhalers is majorly due to smoking tobacco, which is a key factor in COPD's development and progression. COPD was considered the third leading cause of death in the U.S. in 2017, with almost 6% of Americans diagnosed with the disease.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3U267/respiratory-inhalers

• Metered Dose Inhalers Market Report

The report consists of key market trends that are likely to impact the growth of the market over the forecast period. Evaluation of in-depth industry trends is included in the report, along with their product innovations and key market growth.

Furthermore, the report provides a detailed analysis of segments based on product type and applications so that the readers can better understand each segment that influences the Metered Dose Inhalers market growth.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-17E2043/global-metered-dose-inhalers

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