The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Smart Inhalers Global Market Report 2024, the smart inhalers market is expected to show promising growth in the forecast period.

Overview of Market Growth

The smart inhalers market has experienced robust growth in recent years, reflecting increasing consumer and healthcare provider interest in advanced respiratory solutions. The market size surged from $1.48 billion in 2023 to $1.62 billion in 2024, marking a notable compound annual growth rate (CAGR) of 9.9%. This growth is driven by:

• Increased Medical Adherence:Smart inhalers promote better medication adherence through real-time tracking and reminders.
• Focus on Patient-Centric Healthcare:Emphasis on personalized care boosts demand for connected healthcare devices.
• Connected Healthcare Devices:Growing adoption of digital health solutions further fuels market expansion.

Future Market Projections

The smart inhalers market is expected to reach $2.36 billion by 2028, with a CAGR of 9.8%. This future growth can be attributed to several factors:

• Rising Prevalence of Chronic Respiratory Diseases (CRDs):Increased incidence of conditions such as asthma and COPD drives the need for smart inhalers.
• Growing Demand for Home Healthcare:Patients’ preference for managing health conditions at home enhances market potential.
• Adoption of Digital Healthcare Solutions:Embracing technology in healthcare continues to grow.

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Key Trends to Watch:

• Technological Advancements:Innovations in smart inhalers, including chip-on-sensors and advanced sensor technology.
• Big Data Analytics:Leveraging data for improved patient outcomes and device functionality.

The Impact of Chronic Respiratory Diseases

The prevalence of chronic respiratory diseases (CRDs) significantly impacts the smart inhalers market. CRDs, which include asthma and chronic obstructive pulmonary disease (COPD), require consistent management and medication adherence. Smart inhalers help:

• Track Usage:Monitor medication intake to ensure adherence.
• Reminders:Offer alerts for missed doses, crucial for effective symptom control and prevention of exacerbations.

Statistics Highlighting the Need:

• Australia:Respiratory disease-related deaths increased from 43,031 in 2020 to 46,551 in 2021.
• UK:The Lancet reported 11,255 new RSV cases in 2021, indicating rising respiratory conditions.

Innovative Advancements in Smart Inhalers

Innovation is a driving force in the smart inhalers market, with several companies introducing advanced technologies:

• Aptar Pharma’s HeroTracker Sense:Launched in February 2022, this add-on device transforms standard metered-dose inhalers (MDIs) into smart devices. It features sensors to track inhalation coordination and offers real-time feedback via an app.
• AptarGroup’s Acquisition of Orbital DPI Technology:In August 2022, AptarGroup acquired the Orbital dry powder inhaler (DPI) technology from Pharmaxis Inc. This technology enables high-payload delivery, enhancing its respiratory drug delivery portfolio.

Market Segmentation

The smart inhalers market is segmented based on:

• Type:
  • Dry Powdered Inhalers (DPIs)
  • Metered Dose Inhalers (MDIs)
• Indication:
  • Asthma
  • Chronic Obstructive Pulmonary Disease (COPD)
  • Other Indications
• Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• End-User:
  • Hospitals
  • Homecare Settings
  • Other End-Users

Regional Insights

In 2023, North America emerged as the largest market for smart inhalers, driven by advanced healthcare infrastructure and a high rate of CRD diagnoses.

Conclusion

The smart inhalers market is poised for significant growth due to technological advancements, rising CRD prevalence, and increasing demand for digital healthcare solutions. Companies are investing in innovative technologies to enhance respiratory care, positioning themselves for future success in this dynamic market.

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