The Asia Pacific smart inhalers market is expected to reach US$ 1,539.97 Mn in 2027 from US$ 186.63 Mn in 2018
NEW YORK, Jan. 16, 2020 /PRNewswire/ -- The Asia Pacific smart inhalers market is expected to reach US$ 1,539.97 Mn in 2027 from US$ 186.63 Mn in 2018. The market is estimated to grow with a CAGR of 27.2% from 2019-2027.
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The growth of the smart inhalers market is primarily attributed to the growing geriatric population rising prevalence of COPD and asthma, along with rising awareness regarding the medical condition as well as the presence of supportive associations in the region.However, risks associated with cyber threats with smart inhalers are likely to pose a negative impact on market growth.
On the other hand, the development of growth in the Asia pacific healthcare market is likely to have a positive impact on the growth of the Europe smart inhalers market in the coming years.
With rapid urbanization there has been growth in various adverse factors that have led to the growth of respiratory diseases across the Asia Pacific. Some of the factors leading to growth in the number of asthma and COPD cases across the Asia Pacific are a rise in air pollution levels and increasing smoking habits.
The rise in air pollution levels has been a matter of rising concern in developed as well as developing economies.As per data published by the World Health Organization (WHO) released during May 2018, 9 out of 10 individuals are believed to breathe air containing high levels of pollutants.
Data published by WHO reveals that approximately 7 million people die every year due to exposure to fine particles present in polluted air, which penetrate deep into the lungs and the cardiovascular system.This leads to various diseases such as lung cancer, pneumonia, chronic obstructive pulmonary diseases and respiratory infections, among others.
In 2016 Among the 2.2 million air pollution-related deaths in Asia pacific region, 29% were due to heart disease, 27% stroke, 22% chronic obstructive pulmonary disease, 14% lung cancer and 8% pneumonia. Additionally increasing indirect effects of air pollution like growing climate change, because of transport is the fastest growing source of fossil-fuel emissions of carbon dioxide (CO2) which is a most significant contributor of climate change. In 2017 World Health Organization (WHO) held a member states consultation on addressing the health impact of air pollution in the western pacific region, and continues to take steps to improve the situation. Children living near roads with heavy-duty vehicle traffic have twice the risk of respiratory problems as those living near less congested streets. Hence, the rising levels of air pollution coupled are anticipated to drive the demand for the smart inhalers market during the forecast period.
In 2018, the inhalers segment held a largest market share of the smart inhalers market, by product.The inhalers is expected to dominate its market share in 2027 owing to the increasing mortality rate of asthma.
The inhalers segment is also anticipated to witness the fastest growth rate during the forecast period, 2019 to 2027.
Home-care setting segment a largest market share of the smart inhalers market, by end user in 2018.This segment is also expected to dominate the market in 2027.
As smart inhaler devices are connected digitally, enabling the patients to get advice from their physicians, even when situated far away. Home-care setting segment is also expected to grow at the fastest growth rate during the forecast period, 2019 to 2027.
Some of the major primary and secondary sources for smart inhalers included in the report are, GlaxoSmithKline plc, Adherium Ltd., Vectura Group plc, Novartis AG, Findair Sp. z o. o., Cohero Health, Crux Product Design Ltd, Teva Pharmaceuticals, 3M, Amiko Digital Health Limited, and others.
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