Smart Inhalers Market Size, Share & Trends Analysis Report By Product Type (Metered Dose Inhalers, Dry Powder Inhalers), By Application (Asthma, COPD, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global smart inhalers market size was valued at USD 87.25 million in 2022. It is projected to reach USD 2261.19 million by 2031, growing at a CAGR of 43.57% during the forecast period (2023–2031).

Asthma and chronic obstructive pulmonary disease are two of the many respiratory conditions treated with a smart inhaler (COPD). They feature a digital sensor that logs information like dosage time, tracks how often the inhaler is used and notifies the user when it's time to take another dose. Bluetooth can transmit data to doctors and patients for monitoring purposes. Better clinical outcomes and the increasing prevalence of chronic respiratory diseases (CRDs) are expected to boost the market. Patient demand for intelligent inhalers to aid in the self-management of illness is expected to increase, driving growth in the market. Smart inhalers that use digital particle imaging can also give patients immediate feedback on how well they respond to treatment. The market potential for expansion is enormous in light of such benefits.

Market Dynamics

What are the Primary Factors Driving the Market for Smart Inhalers?

Increasing Prevalence of Respiratory Diseases

Demand for treatments and medical devices is rising in response to the rising incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, and asthma. The number of people who smoke cigarettes and air pollution in both developed and developing countries has increased dramatically in recent decades. The World Health Organization estimates that 235 million people worldwide have asthma, with more than 80% of all asthma-related deaths happening yearly in low and middle-income countries. As a result of increased smoking and aging populations in many nations, COPD is also projected to rise in the coming years. It has also been noted that doctors and nurses, especially in developed countries, are increasingly likely to prescribe smart inhalers to their patients to deliver medication directly into the lungs.

What are the Main Factors that will Slow Down the Market for Smart Inhalers?

Presence of Substitute Manual Inhalers

Despite the many advantages of smart inhalers, the availability of manual inhalers as a competitive product could slow the market. Asthma and chronic obstructive pulmonary disease medications are typically administered via inhalers. Patient advocacy group Allergy and Asthma Network-Mothers of Asthmatics have made a visual representation of various inhalers available for treating asthma and chronic obstructive pulmonary disease (COPD) symptoms. A further significant factor hindering the growth of the intelligent inhaler market over the forecast period is the lack of awareness regarding the use of digital inhalers among the population of developing economies.

What are the Future Opportunities for Smart Inhalers?

Technological Advancements in Smart Inhaler Devices and Systems

Presently available general respiratory inhalers are inadequate for the efficient treatment of various respiratory disorders due to physicians' frequent lack of information and tools to understand patients' health statuses. The miniaturization of flow sensors allows connected inhalers to gauge the dose of medication taken accurately. The systems can be refined and made more user-friendly through miniaturization. Additionally, it is anticipated that the rising prevalence of smartphone use will increase the overall adoption of mobile health applications by patients and healthcare providers. Increased drug delivery efficacy, improved medication adherence, decreased healthcare costs, and a better overall clinical outcome are all possible thanks to technological advancements that measure airflow during inhalation to reduce human error.

Regional Analysis

The global smart inhalers market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global smart inhalers market and is expected to grow during the forecast period. Smart inhalers are expected to grow in popularity because of rising healthcare spending on respiratory diseases and the increasing affordability of these devices among the target population. Market projections for North America will be bolstered by the region's rising middle class and the high proportion of healthcare spending on healthcare management. In addition, many products are approved and launched in the area, particularly in the United States, because of the lenient regulatory scenario and the prevalence of well-established market players. As a result, the North American market will grow. It is because more studies are being conducted, and more people are aware of the benefits of using modern respiratory inhalers.

Asia-Pacific is expected to grow during the forecast period. It's because of developments in medical technology, a greater public understanding of the importance of preventative care, and more money in people's pockets. In addition, major international companies see opportunities in the rapidly expanding medical tourism sector in several Asian countries. The respiratory devices industry is primarily concentrated in Japan and China. Smart inhalers are anticipated to play an essential role in expanding the healthcare industry due to several factors, including the rising demand for innovative respiratory care devices, the increasing geriatric population burden, the rising aggregate healthcare expenditure, and the rapid transformation of the healthcare sector.

The rising prevalence of respiratory illnesses is a crucial factor fueling expansion in Europe's market. The demand for smart inhalers is also affected by the attending doctor's and patients' pay for new and innovative respiratory devices. It has been noted that a growing number of patients place higher expectations on treatment efficacy and pharmaceutical quality. The optimistic outlook for the regional smart inhaler market is mainly attributable to the fact that the price of these devices has fallen to a point where the target population can afford them.

Many people in the Middle East and African countries are affected by chronic respiratory diseases (CRD) and respiratory allergies, including asthma, chronic obstructive pulmonary disease (COPD), respiratory allergies, and occupational lung diseases. For example, approximately 60 million people in the Middle East are at risk of contracting a respiratory illness. 18.5 deaths per 100,000 people with asthma makes South Africa the fifth worst country for both asthma and asthma mortality.

Segmental Analysis

The global smart inhalers market is segmented by product type, application, and distribution channel.

Based on product type, the global smart inhalers market is bifurcated into metered dose inhalers and dry powder inhalers.

The dry powder inhalers segment is the highest contributor to the market and is expected to grow during the forecast period. Increasing demand for technologically advanced respiratory devices and the rising prevalence of chronic respiratory diseases like COPD and asthma point to promising growth prospects for the dry powder inhaler (DPI) market. Propellant elements, such as chlorofluorocarbons (CFCs), in meter-dose inhalers have been linked to drug irritation, which has increased the popularity of DPIs. DPIs and smart inhalers built on the technology are commonplace in the healthcare industry. In this vein, several industry heavyweights have released equivalent hardware. Teva Pharmaceutical Industries' new 'ProAir Digihaler' digital dry powder inhaler features an array of internal sensors.

Based on application, the global smart inhalers market is bifurcated into asthma, COPD, and others.

The asthma segment is the highest contributor to the market and is expected to grow during the forecast period. Asthma has become much more common in recent years due to pollution, increased exposure to asthma triggers like pollen and a decline in physical activity. In the United States, more than 3,600 people lose their lives yearly to asthma, affecting more than 24 million people. Several companies are pouring resources into research and development to create smart inhalers that can improve asthma treatment. FindAir is the first European smart inhaler product available to the public. It was created with input from top Polish pulmonologists.

Based on the distribution channel, the global smart inhalers market is bifurcated into hospital pharmacies, retail pharmacies, and online pharmacies.

The hospital pharmacies segment is the highest contributor to the market and is expected to grow during the forecast period. Hospital pharmacies are a potential source of medication for the elderly, who frequently find themselves hospitalized due to a wide range of chronic respiratory illnesses. They can get the time-sensitive medications they need for emergency respiratory care quickly and easily. Hospitals can avoid the issue of counterfeit medicines by purchasing supplies directly from pharmaceutical companies, improving patient care. With the factors mentioned above in place, smart inhalers will become more widely available in hospital pharmacies, fostering segmental development. Pharmacy chains are rapidly expanding and modernizing to increase their market share, positively affecting the pharmacy industry's development.

Impact of covid-19

The global wireless health market is fragmented in nature. Several large and small-scale players are focusing on price, brand, and new product development to expand their consumer base. Some of the key players are engaging in acquisitions, collaborations, and partnerships to gain a competitive edge.

For instance, Cerner Corporation announced a strategic collaboration with XG Solutions, Inc. to provide access to Cerner's' HealtheIntent' platform. Similarly, WellDoc launched the first FDA-approved mobile app, named ' BlueStar' for type 2 diabetes management. While AliveCor developed an electrocardiogram based on a smartphone. In October 2018, Philips introduced its FDA approved ' IntelliVue Guardian Technology software ' for patient monitoring. In March 2018, Allscripts Healthcare Solutions launched a new Electronic Health Record (EHR), ' Avenel ' to save the time invested in clinical documentation. Lastly, in June 2018, BioTelemetry, Inc. launched its next-generation ‘wireless blood glucose monitor’ for type 2 diabetes management.

Recent Developments

• November 2022- AstraZeneca's first Alexion rare disease therapy is now available to patients in China, marking a significant expansion of the company's global footprint in the rare disease space.
• November 2022- Teva and Rimidi Announce Exclusive Partnership to Grow the Respiratory Digital Health Platform's Global Reach.