February 23, 2024
Smart Inhalers Market

The increasing usage of digital health solutions is anticipated to open up new avenue for Smart Inhalers Market

The Smart Inhalers Market is estimated to be valued at US$ 374.0 Mn in 2023 and is expected to exhibit a CAGR of 58% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Smart inhalers are medical devices integrated with digital technologies to help patients properly use inhaled medications for pulmonary diseases like asthma and COPD. The devices contain sensors to track medication use and send real-time data to the patients’ smartphones via Bluetooth. This allows patients to better manage their condition and provides physicians with usage data to optimize treatment plans. Common features include dose counters, medication reminders, and connectivity to apps.

Market Dynamics:
Growing prevalence of respiratory diseases like asthma and COPD is a key driver for the smart inhalers market. According to the WHO, approximately 235 million people currently suffer from asthma globally, while over 329 million people suffer from COPD. Expanding elderly population is also contributing as these conditions are more common in older age groups. Furthermore, incorporation of digital technologies by device manufacturers to improve patient adherence to treatments through remote monitoring is boosting demand for smart inhalers over conventional inhalers. This allows physicians to optimize therapies based on objective usage data rather than relying only on patient-reported adherence.
Segment Analysis
The smart inhalers market is dominated by the metered dose inhalers (MDIs) sub-segment. MDIs are small canisters that are designed to deliver a measured dose of medication to the lungs, in the form of a short burst of aerosolized medication mist, triggered by inhaling through the mouthpiece. MDIs provide consistent dosing and are easy to use, which has resulted in their wide popularity among patients compared to dry powder inhalers.

PEST Analysis
Political: Regulations stimulating the adoption of smart devices for respiratory disease management are driving market growth. Economic: The rising healthcare costs of treating respiratory diseases are encouraging providers to invest in smart inhalers for better management. Social: Increasing air pollution and sedentary lifestyles have led to a rise in respiratory illnesses, creating demand for innovations like smart inhalers. Technological: Integration of sensors, connectivity, and digital platforms in inhalers is enhancing treatment adherence and remote monitoring capabilities.

Key Takeaways
The global Smart Inhalers Market Share is expected to witness high growth, exhibiting 58% CAGR over the forecast period, due to increasing prevalence of respiratory diseases such as asthma and COPD.

North America dominated the market in 2023, owing to the presence of major players, rising healthcare expenditure, and growing adoption of digital health technologies in the region. Europe is also a prominent regional market for smart inhalers due to the rising incidence of respiratory illnesses and supportive regulatory environment encouraging digital therapies.

Key players operating in the smart inhalers market are Adherium Limited, AstraZeneca, Boehringer Ingelheim, Cohero Health, GSK, Novartis, and ResMed, among others. Major players are focusing on introducing new connected inhalers integrated with digital platforms and sensors to track medication usage for improved patient management.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it