Smart Inhaler Technology Market by Product, Application and Geography - Forecast and Analysis 2023-2027

Smart Inhaler Technology Market 2023-2027

The Smart Inhaler Technology Market size is estimated to grow by USD 46.37 million at a CAGR of 10.16% between 2022 and 2027. 

The integration of health technology, digital media, and mobile or smart devices is referred to as connected healthcare. It is also known as technology-enabled care (TEC). The main advantage of this integrated platform it enables patients, caregivers, and healthcare professionals to access the data more easily and modify it remotely. There is a growing popularity for these integrated platforms among patients, clinicians, and healthcare practitioners due to the value-added benefits of TEC. The smart inhalers can be connected to the TEC platform for sharing patients' data.  Furthermore, the main advantage of these platforms is that they can be used to share, store, and access patient data such as the level of the chronic condition, medication, test reports, and other patient cases. Hence, such factors are positively impacting the market.

Technavio has segmented the market into Product, application, and Geography.

• The product segment is classified into inhalers and nebulizers
• The application segment is classified into asthma and COPD
• The geography segment includes key regions such as North America, Europe, Asia, and the Rest of the World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the Size of the Smart Inhaler Technology Market During the Forecast Period?

To learn more about this report, Request Free Sample

Smart Inhaler Technology Market Segmentation by Product, Application, and Geography Analysis

Product Analysis 

Inhalers

The inhalers segment is estimated to witness significant growth during the forecast period.  One of the primary-stage medication used for various COPD and asthma cases are inhalers. Suitable inhalers are recommended that are available as MDIs or DPIs based on patient conditions.  The MDIs are short-acting bronchodilators that use pressurized drugs to treat patients with breathlessness whereas DPIs are long-acting bronchodilators that use a dry, powdered form of drugs, which can be inhaled with full lung capacity to get relief from breathing or pulmonary disorders.

Get a glance at the market contribution of various segments View a PDF Sample

The inhalers segment was the largest segment and was valued at USD 31.22 million in 2017. The main advantage of MDI is that the effect of the drugs is immediate and can last for four to six hours, offering relief against asthma or COPD-related emergencies. On the other hand, DPIs can offer relief for 12 to 24 hours and can be used once or twice per day. There is an increasing preference for inhalers by patients as the first line of treatment due to the rising prevalence of asthma and COPD. There is increasing adoption of smart inhalers among patients as it helps to get consultations from their physicians, and they can remotely access the recorded data of the smart inhalers and prescribe required medications to patients. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Application Analysis 

Asthma

There are numerous applications for smart inhalers in treating asthma, as they provide advanced monitoring, data collection, and communication capabilities that can enhance medication adherence, asthma management, and overall patient outcomes. The main feature of smart inhalers is that they monitor medication usage and send reminders to patients when it's time to take their inhalers. As a result, it enables patients to follow their prescribed medication schedule, resulting in better symptom control and reduced risk of asthma exacerbations. Furthermore, it allows us to monitor and manage the child's medication usage and share data with healthcare providers. Hence, these factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.

COPD

There are various applications of smart inhalers in the treatment and management of COPD. COPD can be referred to as a chronic lung condition characterized by airflow limitation and often comprises symptoms including shortness of breath, coughing, and wheezing. The main feature of this technology is that it tracks inhaler usage and offers reminders, ensuring that patients take their prescribed medications as directed. In addition, it helps in generating COPD-specific action plans, enabling patients to manage symptom exacerbations, and offering guidance on when to adjust medications or seek medical attention.  Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Regional Analysis

For more insights about the market share of various regions View PDF Sample now!

North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the smart inhaler technology market in North America are the high prevalence of COPD, rising awareness about smart inhalers, and the increasing number of companies.

In addition, factors such as the growing number of R&D facilities for innovative product development and the rising number of advanced product launches are positively impacting the market growth in the region. Furthermore, several prominent market players are increasingly investing in their R&D facilities to develop new products, which is offering a competitive advantage to them and helping to increase their market base. Hence, such factors are driving the market growth in the region during the forecast period.

COVID Recovery Analysis

In 2020, during the COVID-19 pandemic, the growth of the global smart inhaler technology market witnessed significant growth as the virus directly affected the functioning of the lungs, causing chronic inflammation and difficulty in breathing, leading to an increase in demand for smart inhalers in North America. However, in 2021, factors such as the growing aging population, rise in adoption of smartphones, and rising prevalence of asthma in the region are expected to drive the market growth during the forecast period.

Buy Now Full Report and Discover More

Key Smart Inhaler Technology Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

3M Co: The company offers smart inhaler technology such as the Intelligent Control Inhaler that provides on-screen instructions.

• Adherium Ltd.
• Amiko Digital Health Ltd.
• AptarGroup Inc
• AstraZeneca Plc
• Cognita Labs
• Cohero Health Inc.
• Findair Sp. z o. o.
• Infineon Technologies AG
• Novartis AG
• OPKO Health Inc
• ResMed Inc.
• Sensirion AG
• Teva Pharmaceutical Industries Ltd.
•  Vectura Group plc

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Smart Inhaler Technology Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Smart Inhaler Technology Market Drivers

One of the key factors driving the smart inhaler technology market growth is the rising prevalence of respiratory diseases. There is an increasing prevalence of respiratory diseases which is significantly contributing to the market growth. There is a strong demand for innovative solutions that can improve disease management and enhance patients' quality of life as conditions such as asthma and chronic obstructive pulmonary disease (COPD) affect millions of people worldwide.

Moreover, the increasing number of individuals diagnosed with respiratory diseases has significantly fuelled the potential customer base for smart inhaler technology. There is an increasing adoption of smart inhalers that can provide real-time data and personalized treatment insights as more people require effective management of their conditions. Hence, such factors are positively impacting the market. Therefore, it is expected to drive market growth during the forecast period.

Significant Smart Inhaler Technology Market Trends

A key factor shaping the smart inhaler technology market growth is the rising technological advancements. There is a significant development in the capabilities of the and features of smart inhalers due to the advancements in technologies thereby improving the effectiveness in managing respiratory conditions. The incorporation of advanced sensors in smart inhalers enables the detection of inhaler usage and factors including inhalation technique, airflow rate, and medication dispersion within the respiratory tract.

Moreover, there are significant developments in the miniaturization of smart inhalers making it smaller, more portable, and less obtrusive.  In addition, these technologies are increasingly equipped with wireless connectivity, allowing seamless data transmission to companion apps, cloud storage, and healthcare provider systems. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.

Key Smart Inhaler Technology Market Challenges

Less number of product approvals due to stringent regulations is one of the key challenges hindering the smart inhaler technology market growth. As smart inhalers are considered medical devices under FDA regulation, it is essential to have FDA clearance for commercialization. There are several stringent regulations enforced by the FDA during the clinical trials of smart inhalers which include safety, accuracy, and effectiveness trials of the devices.

Moreover, the market players in the global smart inhaler technology market need to comply with these stringent regulations in order to commercialize the product.  As a result, of such stringent regulations, the FDA declines certain approvals at different stages of clinical trials which is negatively impacting the market. Hence, such factors are expected to hinder market growth during the forecast period.

Buy Now Full Report and Discover More

Key Smart Inhaler Technology Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Smart Inhaler Technology Market Customer Landscape

Segment Overview

The smart inhaler technology market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook (USD Million, 2017 - 2027)
  • Inhalers
  • Nebulizers
• Application Outlook (USD Million, 2017 - 2027)
  • Asthma
  • COPD
• Geography Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Smart Inhaler Technology Market Scope
Report Coverage	Details
Page number	158
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 10.16%
Market growth 2023-2027	USD 46.37 million
Market structure	Fragmented
YoY growth 2022-2023(%)	9.77
Regional analysis	North America, Europe, Asia, and Rest of the World (ROW)
Performing market contribution	North America at 37%
Key countries	US, UK, France, China, and Japan
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	3M Co., Adherium Ltd., Amiko Digital Health Ltd., AptarGroup Inc., AstraZeneca Plc, Cognita Labs, Cohero Health Inc., Findair Sp. z o. o., Infineon Technologies AG, Novartis AG, OPKO Health Inc., ResMed Inc., Sensirion AG, Teva Pharmaceutical Industries Ltd., and Vectura Group plc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

View Sample PDF at your Fingertips

What are the Key Data Covered in this Smart Inhaler Technology Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the smart inhaler technology market between 2023 and 2027
• Precise estimation of the smart inhaler technology market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of smart inhaler technology market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch