The use of smart technology has established a smart presence in the healthcare domain. This has led to an increased number of smart devices. Market focused reports linked with the healthcare industry among others recently have been made available by Market Research Future which issues reports on this industry. The Smart Inhalers Market globally is anticipated to acquire the market value of USD 1.35 Billion while thriving at a CAGR of 23.5% by 2030.
The need to monitor medicine dosage and schedule the medicine intake the market for smart inhalers has grown considerably. Due to the prevalence of ailments like asthma, the market has grown considerably over the past few years. As asthma patients are required to monitor their drug intake diligently, the smart inhalers provide a great degree of convenience in that regard. The development of the market is also powered by the incorporation of cutting-edge technologies in these products.
Key Players- A few of the noteworthy competitors in this Smart Inhalers Market Players are AstraZeneca, Gecko Health Innovations Inc., Cohero Health, Adherium, GlaxoSmithKline, Inspiro Medical, and Propeller Health.
Industry Segments
The Smart Inhalers Market Insights has been segmented on the basis of application, type, end user, and region.
- On the basis of type, the segment involves metered dose inhaler and dry powder inhaler. The dry powder inhalers control the principal share of the market.
- The application basis of segmentation of the market consists of asthma, COPD, and others.
- The end user segmentation of the market is segmented into respiratory care center, hospitals clinics, and others.
- On the basis of regions, the market includes North America, APAC, Europe and rest of the world.
Detailed Regional Analysis
The regional analysis of the Smart Inhalers Market Outlook comprises regions such as North America, Middle East, Europe, Africa, APAC and rest of the world. Globally, the North American region is the major market for smart inhalers which is predicted to touch $888.4 million in revenues approximately by 2023. The European region was the second biggest market in 2016 which is worth $57.4 million. Additionally, the Asia Pacific market is anticipated to be the most rapidly growing market and is likely to develop at a CAGR of 55.3 percent during the forecast period from 2016 to 2022. The smart inhalers market in the rest of world is anticipated to surge after 2019.
Global Competitive Analysis
The impetus for the market’s growth has altered the competitive background of the market. By ensuring supply and demand are in balance the competitors can unlock new opportunities for growth. The key players and trends have created a positive tone for development. The important trends and players have established a positive tone for development. The opportunities for growth and innovation have increased at a rapid pace transforming the landscape of the market. Engaging and converting prospective opportunities is modifying the growth pace of the market considerably. The competitors in the market have been spurred to devise strategic road-maps that capitalize on the positive market cues.
Industry Updates:
- April 2018 Adherium which is a smart inhaler company recently stated last week that it has gained a 510(k) clearance for OTC sales of its inhaler monitoring device for AstraZeneca’s Symbicort aerosol inhaler, named the SmartTouch for Symbicort. The company creates a device that grafts onto a patient’s inhaler to observe and inspire medication adherence as part of a self-management plan. It is aimed to be easy to install and remove and comprises of three buttons that aid patients access the battery monitoring, audio visual-reminders, and Bluetooth low-energy pairing features. The sensor was initially by the FDA in September last year and is planned for usage by patients with respiratory conditions like COPD and asthma.
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