GLOBAL SMART INHALERS MARKET FORECAST 2019-2028
NEW YORK, June 30, 2020 /PRNewswire/ -- KEY FINDINGS
The global smart inhalers market is projected to garner considerable revenue, growing at a CAGR of 31.66%, during the forecast period of 2019 to 2028. The drivers facilitating the market growth include a high incidence of chronic respiratory diseases like Chronic Obstructive Pulmonary Disease (COPD) and asthma, an increase in air pollution, and indoor air pollutants. Moreover, the growing geriatric population has also contributed to market growth.
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MARKET INSIGHTS
Smart inhalers are used to deliver a variety of medications through inhalation.The drugs in the inhalers comprise glucocorticoids, anti-cholinergic, insulin, and beta-agonists for preventing and treating respiratory conditions like asthma and COPD.
The inhalers are called smart inhalers due to the sensors clipped on them, monitoring the right dose, with each intake.The data registered by the sensor is shared with the patient and healthcare professionals to measure and track the inhaler use.
The monitored information is then shared using Bluetooth technology to their mobile applications through a specific platform.The global smart inhalers market growth is propelled by the upsurge in the prevalence of COPD and asthma, which is caused by an increase in air pollution.
Therefore, the high rates of air pollution are anticipated to cause a rise in respiratory disorders, which stimulates market growth. However, expensive treatments and limited availability of inhalers, hinder the global smart inhalers market growth.
REGIONAL INSIGHTS
The geographical segmentation of the global smart inhalers market comprises Asia Pacific, Europe, North America, and the rest of the world.Asia Pacific is estimated to project the highest CAGR, in terms of revenue, across the forecast period.
Growing pollution rates in India, have led to a hike in the prevalence of respiratory diseases. This has significantly raised the demand for smart inhalers in the country, thereby propelling the market growth.
COMPETITIVE INSIGHTS
The global smart inhalers market is highly fragmented and comprises several large-scale and small-scale industries.Thus, intense competition is witnessed among participants.
Companies stimulating the market growth include, ResMed Inc (Propeller Health), Novartis AG, GlaxoSmithKline Plc, Teva Pharmaceutical Industries Limited, etc.
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Companies mentioned
1. 3M COMPANY
2. ADHERIUM LIMITED
3. AGILENT TECHNOLOGIES INC
4. ASTRAZENECA PLC
5. BOEHRINGER INGELHEIM GMBH
6. COHERO HEALTH INC
7. GLAXOSMITHKLINE PLC
8. KONINKLIJKE PHILIPS NV
9. NOVARTIS AG
10. OPKO HEALTH INC
11. RESMED INC (PROPELLER HEALTH)
12. TEVA PHARMACEUTICAL INDUSTRIES LIMITED
13. VECTURA GROUP PLC
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