Smart Inhaler Market
Smart Inhaler Market Study by Dry Powder Inhalers and Metered Dose Inhalers for Asthma and COPD from 2024 to 2034
Analysis of Smart Inhaler Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Smart Inhaler Market Outlook (2024 to 2034)
The global smart inhaler market is expected to be worth US$ 105.3 million in 2024 and climb to a size of US$ 331 million by the end of 2034. Worldwide sales of smart inhalers are forecasted to increase at a CAGR of 12.1% from 2024 to 2034.
A smart inhaler incorporates Bluetooth connectivity and interfaces with a mobile app. These devices have built-in sensors to help record information about a patient's location at each use, as well as the time and date of use.
- According to the European Academy of Allergy and Clinical Immunology (EAACI), 350 million people worldwide were suffering from asthma in 2022.
Patients suffering from these disorders need to follow a strict medication schedule, adjusting the dosage and timing as required to achieve symptom control to reduce the severity of the symptoms. Inhalers eliminate the need for injectables and the side effects of oral medications.
Integration of smart inhalers into telemedicine and remote patient monitoring devices is helping improve patient care and manage respiratory conditions more effectively. It makes it possible for more prompt interventions, fewer in-person visits, and a more individualized, patient-centered approach to healthcare. Thus, the need for smart inhalers is projected to be positively influenced by the remote monitoring and management of patients with respiratory conditions.
Key Market Growth Drivers
- The market is projected to grow at a significant pace over the forecast period as smart inhalers continue to incorporate new technologies. Since smart inhalers are a component of modern digital technology, their management of respiratory ailments is being improved. Increased accessibility to cutting-edge smart inhalers for the treatment of respiratory conditions is projected to drive smart inhaler market growth.
- Modern devices are more user-friendly and accurate, track and monitor medication history, collect clinical data, and are more convenient to use than traditional inhalers—all of which are driving up demand for therapeutic respiratory devices.
- Need for innovative digital respiratory and pulmonary care products and devices is increasing in the wake of the COVID-19 pandemic, and this in turn is boosting demand for smart inhalers.
- Increasing number of major market participants are putting more emphasis on R&D efforts to create more efficient smart inhalers.
- Several companies are incorporating advanced technologies into their product lines to enhance the efficacy of pharmaceuticals and the management of asthma and COPD.
- One of the main drivers that is contributing to the expansion of the smart inhaler market size is the rising prevalence of chronic respiratory conditions, such as asthma and chronic obstructive pulmonary disease (COPD).
| Report Attribute | Detail |
|---|---|
| Smart Inhaler Market Size (2024E) | US$ 105.3 Million |
| Forecasted Market Value (2034F) | US$ 331 Million |
| Global Market Growth Rate (2024 to 2034) | 12.1% CAGR |
| Latin America Market Share (2024E) | 3.4% |
| North America Market Share (2024E) | 38.8% |
| Hospital Pharmacies Segment Value (2024E) | US$ 48.2 Million |
| Key Companies Profiled | Adherium Limited; Boehringer Ingelheim; Teva Pharmaceutical; Industries Ltd.; H&T Presspart; Manufacturing Ltd.; OPKO Health, Inc; AstraZeneca plc; GlaxoSmithKline Plc.; Propeller Health; Aptar Pharma; Novartis AG; Sensirion AG; Cohero Health, Inc. |
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What are the Reasons for Surging Sales of Smart Inhalers?
“Rising Prevalence of Asthma and Chronic Obstructive Pulmonary Disease”
Asthma is a serious non-communicable disease that can afflict both adults and children.
Investing in R&D and raising awareness of their products among consumers are the top priorities of manufacturers of smart inhalers. They are also using inorganic and organic methods to boost sales.
- According to a 2020 Cleveland Clinic study, COPD patients who used smart inhalers manufactured by the propeller company had a nearly 35% decrease in hospital visits and a significantly lower risk of being admitted.
What are the Key Challenges Restraining Sales Growth of Smart Inhalers?
“Lack of Awareness about Respiratory Conditions and Limited Public Health Support”
Due to a lack of awareness about the symptoms of asthma and COPD, the majority of patients with respiratory conditions go undiagnosed and are subsequently mistreated. This is a significant factor limiting the global market for smart inhalers from moving forward. Most people with COPD symptoms are unaware that they have the disease.
Use of smart inhalers is still not widely supported within the public health system. This is connected to patients' lack of technological awareness and the situation with restricted reimbursement. Furthermore, the device's limited availability poses a problem that, in the current circumstances, is projected to have a detrimental impact on the market as a whole.
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Country-wise Insights
North America is set to account for a significant smart inhaler market share of 38.8% in 2024. High levels of awareness regarding the use of digital devices for efficient disease management, growing acceptance of smart inhaler devices, significant technological advancements in the healthcare industry, and the implementation of the Internet of Things (IoT) in China are the main factors driving the global market. Due to a growing geriatric population, a high prevalence of chronic respiratory diseases (CRD), expanding healthcare infrastructure, and an increase in government initiatives supporting healthcare, India is predicted to emerge as a lucrative market for smart inhaler producers.
- According to the National Statistical Office Elderly in India 2021 report, the number of Indians aged 60 and above is expected to rise by 41% in 10 years, from 138 million in 2021 to 194 million in 2031.
Which Smart Inhaler Market Trends are Manufacturers in the United States Benefitting From?
“Rising Utilization of Digital Health Solutions and Remote Monitoring Technologies”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 38 Million |
| Growth Rate (2024 to 2034) | 10% CAGR |
| Projected Value (2034F) | US$ 99 Million |
The United States is set to hold 92.8% of the North American market share in 2024. The United States has high rates of COPD and asthma, which is fueling the market's growth.
- In August 2022, Adherium Limited and Trudell Medical Limited partnered to offer respiratory eHealth solutions and remote monitoring to patients in the United States. Both companies will evaluate COPD patients after they leave the hospital using the TouchAway platform from Aetonix, a subsidiary of Trudell U.S., and Adherium's Hailie sensors. The goal is to improve patient outcomes and reduce readmissions.
What are the Opportunities Ahead for Smart Inhalers Manufacturers in Brazil?
“Integration of Advanced Digital Technologies to Improve Treatment Efficacy”
| Attribute | Brazil |
|---|---|
| Market Value (2024E) | US$ 2 Million |
| Growth Rate (2024 to 2034) | 11% CAGR |
| Projected Value (2034F) | US$ 5 Million |
Brazil has a high prevalence of respiratory illnesses, which is raising the need for effective treatments. Market growth in the country is a consequence of improvements in smart inhaler systems and devices brought about by technological advancements. Companies are incorporating advanced digital technologies into their product portfolios to boost drug efficacy and better manage COPD and asthma.
Category-wise Insights
Metered dose inhalers (MDIs) and dry powdered inhalers (DPIs) are the two product categories into which the market is divided. Dry powder inhalers (DPIs) are set to account for 62% market share in 2024. As a treatment for respiratory conditions, DPIs are currently preferred over pressurized MDIs and nebulizers due to growing concerns about the environmental impact of inhaler devices that use chlorofluorocarbons as propellants.
Which Distribution Channel is Widely Preferred in This Business Space?
“Preference for Hospital Pharmacies Among Elders Due to Convenience and Flexibility”
| Attribute | Hospital Pharmacies |
|---|---|
| Segment Value (2024E) | US$ 48.2 Million |
| Growth Rate (2024 to 2034) | 11.9% CAGR |
| Projected Value (2034F) | US$ 148.8 Million |
The hospital pharmacy segment is expected to account for 45.8% market share in 2024 driven by the growing aging population and rising CRD incidence. As the elderly need frequent hospitalizations for a variety of chronic respiratory conditions, they prefer to purchase medication from hospital pharmacies. Because of the comfort, flexibility, and convenience offered by retail pharmacies-a trend that is increasing demand for these establishments-retail pharmacies are projected to maintain their significant market share during the forecast period. The rapid modernization and expansion of existing hospital pharmacies are fueling market growth.
Which Factor is Influencing Widespread Adoption of Dry Powder Inhalers?
“Regulatory Pressure to Reduce Use of Chlorofluorocarbons in Medical Devices”
| Attribute | Dry Powder Inhaler (DPI)-based Smart Inhalers |
|---|---|
| Segment Value (2024E) | US$ 65.3 Million |
| Growth Rate (2024 to 2034) | 12.3% CAGR |
| Projected Value (2034F) | US$ 207.7 Million |
Metered dose inhalers (MDIs) and dry powdered inhalers (DPIs) are the two product categories into which the market is divided. As a treatment for respiratory conditions, DPIs are currently preferred over pressurized MDIs and nebulizers due to growing concerns about the environmental impact of inhaler devices that use chlorofluorocarbons as propellants.
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Market Developments
- Teva's ProAir Digihaler (albuterol sulfate) is a leading product in the smart inhaler market, equipped with a real-time sensor for usage tracking that synchronizes with a mobile app. It was also the first smart inhaler in history to receive the United States Food and Drug Administration approval.
- Aptar Pharma unveiled HeroTracker Sense in April 2022. HeroTracker Sense is a state-of-the-art digital chronic respiratory e-health solution that turns a traditional metered dose inhaler into a smart inhaler.
Fact.MR provides detailed information about the price points of key manufacturers of smart inhalers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.
Segmentation of Smart Inhaler Market Research
-
By Product Type :
- Dry Powder Inhalers (DPIs)
- Metered Dose Inhalers (MDIs)
-
By Indication :
- Asthma
- COPD
-
By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
- FAQs -
How big is the smart inhaler market in 2024?
The global smart inhaler market is estimated at US$ 105.3 million in 2024.
What is the demand outlook for smart inhalers?
The market for smart inhalers has been forecasted to expand at 12.1% CAGR and reach US$ 331 million by 2034.
What is the market in Canada valued at in 2024?
The market in Canada is projected to be valued at US$ 2 million in 2024.
What is the estimated market size for Brazil in 2024?
The market in Brazil is forecasted to reach US$ 2 million in 2024.
Which product type accounts for a significant share of this market?
Dry powder inhaler (DPI)-based smart inhalers account for 62.1% market share in 2024.
What is the revenue from product sales in hospitals in this market?
Sales from hospital pharmacies will be valued at US$ 48.2 million in 2024.
What is the estimated market value for the United States in 2024?
The United States market is estimated to reach US$ 38 million in 2024.
Who are the leading manufacturers of smart inhalers?
H&T Presspart Manufacturing Ltd., OPKO Health, Inc, AstraZeneca plc, GlaxoSmithKline Plc., Propeller Health, Aptar Pharma, and Novartis AG are leading market players.
Smart Inhaler Market