Smart Inhalers Market Analysis | 2022-2028

Market Insights

The Smart Inhalers Market was estimated at US$ 116 million in 2021 and is expected to grow at a CAGR of 26.8% during 2022-2028 to reach US$ 1900 million in 2028.

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What are smart inhalers?

Smart inhalers are sensor-enabled digital devices used to administer various medications via inhalation, as well as to track inhaler usage and monitor precise doses. Numerous medications, including glucocorticoids, anticholinergics, and beta-agonists, are used in these devices. These medications are used to treat and prevent respiratory conditions such as chronic obstructive pulmonary disease and asthma (COPD). Smart inhalers also assist medical personnel in keeping track of individuals' medical histories and regular dose usage.

Market Dynamics

One of the key drivers of revenue growth is the rising prevalence of a number of chronic respiratory disorders, including asthma and COPD, worldwide. For instance, according to a 2019 estimate from the World Health Organization, asthma affects almost 262 million people worldwide and is the most frequent chronic condition affecting children.

Additionally, asthma has been linked to more than 461,000 fatalities worldwide. Also, sedentary lifestyles, smoking, and high air pollution levels in a number of nations may cause a number of respiratory ailments, which will boost market growth. The use of smart inhalers has been prompted by the steadily expanding prevalence of such chronic respiratory disorders, which has increased the demand for effective smart inhalers for respiratory care in recent years.

American users of MDIs number in the tens of millions. The amount of medication that reaches the lungs can be significantly affected by methods like shaking the MDI 10-15 times and by timing and location of breaths. 90 out of every 100 inhaler users utilize them improperly, and 66 do not take their medication as directed (skipping doses, and others.). Of the approximately USD 25 billion in yearly inhaler spending, about USD 5 to USD 7 billion is attributable to the misuse of inhalers.

Smart inhaler technology is projected to continue to progress, which will increase market statistics in the approaching years. As a component of modern digital technology, smart inhalers are being improved to improve the management of respiratory illnesses. The increased accessibility of cutting-edge smart inhalers for the treatment of asthma and COPD will drive market revenue growth. In comparison to traditional inhalers, these cutting-edge devices have a number of advantages including medication history tracking and monitoring, clinical data collecting, improved accuracy, and convenience of use, which will increase market growth potential. Additionally, these devices offer patients self-management tools and the downsizing of sensors for measuring the volume of drug inhaled. These benefits will shape the business environment. 

Segments Analysis

By Product Type

The market is further segmented into Dry Powder Inhaler (DPI) - Based Smart Inhalers, Metered Dose Inhaler (MDI) - Based Smart Inhalers. The MDI segment is expected to grow highest over the anticipated period. The MDI segment's expansion can be attributed to rising respiratory disease indications and improved mechanical smart inhaler disease treatment efficacy. The category is anticipated to have increased product demand since patients are increasingly choosing smart inhalers for self-disease management. Additionally, DPI-based smart inhalers are made to give patients real-time feedback while also administering a precise dosage of medication. Such benefits will present the market with tremendous growth prospects.

By Application Type

The smart inhalers market has been divided into asthma, COPD, and others. The COPD segment is expected to hold the major share owing to the high awareness.

By Distribution Channel Type

The market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. Segmental growth will spread as hospital pharmacies' infrastructure is expanded in emerging markets. Another element encouraging revenue development is the hospital's ease of accessibility to individuals seeking treatment there. The demand for smart inhalers in the settings is also anticipated to expand because of improved accessibility and product availability.

Regional Analysis

The smart inhalers market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America is anticipated to be the smart inhalers market's largest region. Global COPD patient populations are expanding, which will boost demand in the next years. For instance, the World Health Organization reports that the third greatest cause of death worldwide in 2019 was COPD, which claimed the lives of approximately 3.23 million individuals. Additionally, a number of risk factors, including prolonged tobacco use, indoor air pollution, hazardous gases and particles, and occupational dust, influence the development of COPD and necessitate ongoing care management. Geographic demand will be driven throughout the predicted period by the rising prevalence rate of COPD and the rising demand for effective treatment.

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Key Players

The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the major players in the smart inhalers market:

• Adherium
• AptarGroup, Inc.
• AstraZeneca
• Biocorp
• BreatheSuite Inc.
• Cognita Labs
• Findair Sp. z o. o.
• GlaxoSmithKline plc.
• H&T Presspart Manufacturing Ltd.
• Lupin
• Novartis AG
• OPKO Health, Inc.
• Personal Air Quality Systems Pvt Ltd (PAQS)
• Propeller Health
• Teva Pharmaceutical
• Zeolr Technologies Pvt Ltd

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Company Profiling

• Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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Recent Mergers & Acquisitions

The market for smart inhalers is highly competitive. The state of the economy and government assistance have a direct impact on the expansion of businesses. Based on their product's quality and market penetration in both the target and growing markets, these companies distinguish their smart inhaler drivers in the industry. Furthermore, recent important mergers and acquisitions in the sector have had a big impact on the dynamics of competition. For instance:

• In September 2021, The BreatheSuite Metered-Dose Inhaler (MDI) V1 device was given 510(K) Clearance by the U.S. Food and Drug Administration (FDA). BreatheSuite Inc. is a Canadian-connected respiratory health firm. The BreatheSuite gadget converts conventional MDIs into smart inhalers by automatically and objectively monitoring and delivering feedback on inhaler adherence and technique for persons with asthma and COPD. It is approved for both prescription and over-the-counter use.
• In April 2021, Smiths Medical, a renowned producer of medical equipment, debuted the acapella choice blue vibratory PEP therapy system. Acapella is made to help people with Cystic Fibrosis, Chronic Obstructive Pulmonary Disease (COPD), asthma, lung diseases that cause secretory issues, and patients with atelectasis remove secretions.
• In December 2020, the development of a novel medical inhaler device using Philips Engineering Solutions' and Gilbert Technologies' unique soft mist technology was revealed. It has the potential to increase patient treatment effectiveness and lower medical expenditures.
• In July 2020, Novartis and Propeller teamed to package and ship Novartis' Enerzair Breezhaler with Propeller's digital sensor-enabled tracking platform to treat patients with poorly controlled asthma in Europe. This has improved the company's product line and presented profitable growth prospects in the market for smart inhalers.
• In May 2020, Cohero Health, a well-known digital business engaged in the creation of affordable digital solutions to enhance respiratory care, sold its assets to Aptar Pharma. Due to the expansion of Aptar's digital portfolio in the respiratory illness management sector, segment revenue growth has increased.