New York, USA, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Smart Inhalers Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Smart Inhalers Market Information by Type, Application, End-User, And Region - Forecast till 2030", The market is anticipated to acquire the market value of USD 1.35 Billion while thriving at a CAGR of 23.5% by 2030.
The growing awareness about the advantage of smart inhalers over conventional inhalers, the on-going technological advancements in smart inhalers, and the increasing prevalence of respiratory disorders are some of the major drivers fuelling the market growth during the forecast period. Some of the key factors driving the market expansion during the forecast period include the rising awareness of the advantages of smart inhalers over conventional inhalers, the ongoing technological improvements in smart inhalers, and the rising prevalence of respiratory illnesses. However, the market for smart inhaler devices may be hampered by their expensive cost, data security issues related to security devices, and governing governmental regulations.
Due to the growing need for a reliable tool to monitor the oxygen level among the COVID infected population, the COVID-19 outbreak is predicted to increase the market for smart inhalers. The COVID-19 is probably going to have a good effect on the market for smart inhaler technology.
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|Market Size in 2030||USD 1.35 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Rising Prevalence of Respiratory Disorders|
|Growing Partnerships among Manufacturers and Software Companies|
Smart Inhalers Market Competitive Landscape
List of Key Players Covered in the Report
- Adherium (New Zealand)
- AstraZeneca (UK)
- Gecko Health Innovations, Inc (US)
- Cohero Health (US)
- Inspiro Medical (Israel)
- GlaxoSmithKline (UK)
- Propeller Health (US)
Smart Inhalers Market Dynamics
Respiratory disorders are becoming more common, driving the market. One of the key drivers of market growth during the forecast period is expected to be the rising prevalence of respiratory illnesses like asthma and COPD. Additionally, the increasing use of smart inhalers for the direct delivery of medications to the respiratory tract is projected to be a significant factor that might increase the market size for smart inhalers.
Significant Opportunities will be presented by expanding partnerships between manufacturers and software companies. To fulfil the growing demand, existing makers of smart inhalers are concentrating on working with digital and software firms. The alliance is probably going to give the partners a variety of expansion prospects, which will help the market going forward.
High prices for smart inhalers to restrain market expansion During the anticipated period, the costs associated with smart inhalers are anticipated to restrain market expansion. Another significant factor that may limit market expansion throughout the assessment period is a lack of knowledge about the signs and symptoms of COP and asthma. Data-related worries are anticipated to present a significant obstacle that could impede market expansion.
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Smart Inhalers Market Segmentation
Type, application, and end-user are the market segments used to categorise smart inhalers. The market for smart inhalers is divided into two types based on type: dry powder inhalers and metered-dose inhalers.
The smart inhaler market is divided into COPD, asthma, and other categories based on type.
The respiratory care centres, hospitals & clinics, and other market segments are subdivided into the smart inhalers market based on type. The hospitals and clinics sector is expected to dominate the market overall over the research period.
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Smart Inhalers Market Regional Outlook
Because more adults and children are being diagnosed with diseases like asthma and COPD there, the Americas is expected to dominate the market for smart inhalers throughout the projection period.
During the assessment period, it is anticipated that the market in the region would expand due to the adoption of the most recent technology and rising affordability of smart inhalers. The US is expected to contribute much more than any other country in the evaluation timeframe to the growth of the regional market.
Due to the considerable contribution of seasoned players in the area, Europe is predicted to gain the second-largest market share throughout the forecast period. The regional market is anticipated to grow significantly during the research period as a result of hospitals and patients increasingly using smart inhalers. The UK is anticipated to have the greatest impact overall on the growth of the regional market over the assessment period.
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Due to the existence of both new and established manufacturers, the market for smart inhalers is very competitive. In the upcoming time frame, market expansion is anticipated to intensify due to well-known firms' increasing embrace of digital technologies. Additionally, it is anticipated that increased player collaboration will heighten market competition.
Discover more research Reports on Healthcare Industry by Market Research Future:
Respiratory Inhalers Market Research Report Information By Type (Manually Operated and Digitally Operated), By Product (Dry Powder Inhaler, Metered Dose Inhaler and Others), By Application (Asthma, COPD and Other), By End User (Hospitals & Clinics and Respiratory Care Center), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) - Forecast Till 2030
Asthma Inhaler Device Market: Information by Type (Metered Dose Inhalers, Dry Powder Inhalers, Soft Mist Inhalers), Mode of Operation (Manually Operated Inhaler Devices, Digitally-Operated Inhaler Devices), End User (Hospitals & Clinics, Homecare) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Forecast till 2030
Asthma and COPD Drugs Market Trends, Growth and Insights by Disease (COPD and Asthma), Product (Long-Term Asthma Control Medications, Quick Relief Medications), Route of Administration (Oral, Inhaled), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast till 2030
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