Market Overview
The Global Smart Inhaler Technology Market is expected to reach a value of
USD 1.3 billion in 2023, and it is further anticipated to reach a market value of
USD 3.5 billion by 2032 at a
CAGR of 11.3%.
Smart inhalers are advanced inhalers connecting to mobile apps via Bluetooth, revolutionizing chronic respiratory disorder management. The growth in demand from the increasing number of patients facing conditions like asthma & chronic obstructive pulmonary disorders. These advanced inhalers, an upgrade from conventional ones, use linking technology & sensors to collect patient information, providing timely medication reminders & adjusting dosage based on the patient's condition, highly enhancing overall patient care.
Market Dynamic
The transformation of traditional medical practices & the rise in integration of IoT in healthcare &
medical devices are driving the global growth of smart inhalers. Also, the growing geriatric population, along with a rise in respiratory diseases, further fuels this trend.
Moreover, the alarming number of air pollution globally has led to a significant increase in pulmonary disorders, resulting in about seven million annual deaths. In addition, the growing pollution levels make populations more susceptible to chronic obstructive pulmonary diseases, contributing significantly to the market's growth. Factors like the rising number of COPD & asthma patients, increased vulnerability to indoor air pollutants, growth in alliances between pharmaceutical &
digital health companies, and a rising occurrence of respiratory diseases are key drivers.
However, there are a few market restraints including a lack of awareness, high inhaler costs, & concerns about data misuse and privacy. These challenges, alongside the overall high costs of asthma & COPD treatment, may hinder the growth of the smart inhaler technology market in the forecast period. Additionally, the availability of traditional manual inhalers & the high cost of smart inhalers poses potential hurdles to market expansion.
Research Scope and Analysis
By Product
In terms of product type, the smart inhaler market is divided into Inhalers & Nebulizers, where in 2023, the Inhalers segment commands the largest market share, & this dominance is projected to persist in the coming years. The growth of this segment is due to the advantages provided by smart inhalers, along with their growth in adoption in developing nations.
These technological developments & portable devices have gained popularity, and enable effective respiratory disease management for patients. As the number of different respiratory conditions continues to grow, along with a major shift towards smart inhalers among patients, the market anticipates significant growth. The adaptability & user-friendly features of smart inhalers contribute to their growing usage, solidifying the Inhalers segment as a key driver in the dynamic landscape of respiratory care.
By Indication
In terms of Indication, the smart inhaler market is categorized into Asthma and Chronic Obstructive Pulmonary Disease (COPD). As of 2023, the asthma segment commands the largest market share, & its dominance is anticipated to persist owing to the growth in the usage of smart inhalers for asthma management. Further, the market's growth is propelled by the rise in the number of asthma patients around the globe, attributed to heightened pollution levels in various nations.
In addition, the COPD segment is anticipated to secure a significant market share in the coming years, with continuous exposure to risk factors like particles, harmful gases, smoke, & occupational pollution contributing to the significant growth forecasted for the COPD segment, showcasing the important role smart inhalers play in addressing respiratory challenges associated with these conditions.
By Distribution Channel
The smart inhaler market is categorized by distribution channels into hospital pharmacies, retail pharmacies, & online pharmacies, among them, the hospital pharmacies segment secures the largest share in 2023, which is attributed to the industry's growth driven by the rise in the geriatric population & the growth in the incidence of Chronic Respiratory Diseases (CRDs). The elderly, frequently hospitalized for different respiratory illnesses, mostly opt for procuring medications from hospital pharmacies, which act as a major driver to the segment and the market.
Further, retail pharmacies are expected for rapid growth throughout the forecast period. Driven by customer preferences for comfort, flexibility, & convenience, retail outlets are noticing growth in demand, as the industry benefits from the rapid expansion & modernization of existing retail pharmacies, strategically focusing on enhancing market penetration & looking for favorable growth trends in the smart inhaler market.
By End User
The market segmentation includes hospitals, home care settings, and others based on end-user. In 2023, the predominant share in the smart inhaler market belonged to hospitals, influenced by the expansion of public-private partnerships, fast developments in healthcare infrastructure, & better accessibility to
healthcare services.
Further, the home care settings segment is projected to experience rapid growth throughout the forecast period, which is driven by the increasing cost of healthcare, prompting individuals with Chronic Respiratory Diseases (CRDs) to opt for home-based treatment solutions. Moreover, the rising number of elderly patients receiving care in the familiar and comforting environment of their homes is anticipated to be a key factor fueling the accelerated growth of the home care settings segment.
The Smart Inhaler Technology Market Report is segmented on the basis of the following:
By Product
By Indication
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By End User
- Hospitals
- Home Settings
- Others
Regional Analysis
Smart inhalers are experiencing high demand in North America, constituting a substantial 39.9% share in 2023, and are expected to have significant growth during the forecasted period, driven by increased technological advancements, which is facilitated by the better affordability & several features of smart inhalers, making respiratory disease management more accessible. The US, in particular, is set to make a substantial contribution to the smart inhaler market.
Further, in the European regions, smart inhaler usage is on the rise, driven by growing demand from patients and healthcare institutions. Also, the Asia Pacific region is expected to experience the fastest growth, supported by quick healthcare infrastructure development & technological advancements, with China & India playing important roles in driving market expansion via increased investments.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
In the Global Smart Inhaler Technology Market, companies are constantly looking for acquisitions, mergers, partnerships, & expansions to enhance their market standing, which reflects a concerted effort by industry players to improve their presence & capabilities. By collaborating & expanding, these companies focus on staying at the lead of the changing smart inhaler landscape, ensuring a competitive edge in delivering innovative respiratory solutions.
For instance, In August 2022, Adherium Limited, a key player in respiratory eHealth solutions, revealed a collaboration with Trudell Medical Limited to help COPD patients in the US, which involves assessing post-hospitalization COPD patients utilizing Trudell's Monaghan Medical & Aetonix's aTouchAway platform, along with Adherium's Hailie sensors. The joint effort focuses on decreasing readmissions & improving patient outcomes by introducing innovative technology for remote monitoring & data management in respiratory care.
Some of the prominent players in the global Smart Inhaler Technology Market are:
- Adherium Ltd
- Novartis
- Cognita Labs
- 3M Healthcare
- FindAir
- Cohero Health
- AstraZeneca
- Inspiro Medical
- Propeller Health
- Vectura Group
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Smart Inhaler Technology Market:
The COVID-19 pandemic & the subsequent economic recession have highly influenced the global smart inhaler technology market. With the healthcare system under strain, there was an increased focus on remote patient monitoring, leading to growth in the adoption of smart inhalers for managing respiratory conditions. The pandemic also accelerated the integration of technology into healthcare, driving the demand for smart inhalers that provide real-time monitoring & data analytics.
However, economic uncertainties & healthcare budget limitations in the middle of the recession posed challenges to market growth. Despite the hurdles, the smart inhaler technology market is anticipated to expand as the demand for efficient respiratory care solutions becomes more pronounced in the changing landscape of global health challenges.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 1.3 Bn |
| Forecast Value (2032) |
USD 3.5 Bn |
| CAGR (2023-2032) |
11.3% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Inhalers and Nebulizers), By Indication
(COPD, Asthma, and Others), By Distribution Channel
(Hospital Pharmacies, Retail Pharmacies, and Online
Pharmacies), By End User (Hospitals, Home Settings,
and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Adherium Ltd, Novartis, Cognita Labs, 3M Healthcare,
FindAir, Cohero Health, AstraZeneca, Inspiro Medical,
Propeller Health, Vectura Group, and Other Key
Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |