Smart Inhalers Market Size, Share, Analysis, Trends, Growth, Forecasts, 2032

Smart Inhalers Industry Prospective:

The global smart inhalers market size was worth around USD 14.54 billion in 2023 and is predicted to grow to around USD 69.05 billion by 2032 with a compound annual growth rate (CAGR) of roughly 18.9% between 2024 and 2032.

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Smart Inhalers Market: Overview

The smart inhaler is a device used to deliver medicine to people with respiratory conditions. Compared to conventional inhalers, smart inhalers are loaded with advanced technology like sensors and connectivity technology.

They record the time, data, and the count of each dosage ensuring the regularity of medication as prescribed by the doctors. They can also connect to mobile apps or digital health platforms, enabling healthcare providers to monitor remotely.

The smart inhaler market is driven by several factors such as the increasing prevalence of respiratory disease, rising focus on medication adherence, technological advancements, shift towards digital healthcare solutions, and rising awareness and education. However, the expensive nature of smart inhalers might be posing a major threat to market growth.

Key Insights

• As per the analysis shared by our research analyst, the global smart inhalers market is estimated to grow annually at a CAGR of around 18.9% over the forecast period (2024-2032).
• In terms of revenue, the global smart inhalers market size was valued at around USD 14.54 billion in 2023 and is projected to reach USD 69.05 million by 2032.
• The rising government initiatives are expected to drive the smart inhalers industry over the forecast period.
• Based on type, the Metered Dose Inhalers (MDIs) segment is expected to dominate the market.
• Based on distribution channel, the hospital pharmacies segment is expected to capture the largest market share during the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

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Smart Inhalers Market: Growth Drivers

Technological advancements drive market growth

Currently, existing general respiratory inhalers are insufficient for the effective treatment of a variety of respiratory illnesses because doctors frequently lack the knowledge and resources necessary to assess patients' health.

Flow sensors have become smaller, enabling connected inhalers to precisely measure the amount of medication given. Miniaturization can be used to improve and make the systems easier to operate.

Furthermore, it is expected that patients and healthcare practitioners will utilize mobile health applications more frequently overall as smartphone use becomes more common.

Technological developments that detect airflow during inhalation to reduce human error can decrease healthcare expenditures, enhance medication adherence, increase drug delivery efficacy, and improve overall clinical outcomes. Thus, technological advancements drive industry expansion.

Smart Inhalers Market: Restraints

The high cost of smart inhalers hinders market growth

Despite the potential advantages of smart inhalers, their expensive price is a major barrier to their broad use. Since smart inhalers incorporate cutting-edge technology, including sensors, Bluetooth connectivity, and mobile app compatibility, they are generally more costly than standard inhalers.

Even though a normal inhaler might be far less expensive, smart inhalers' extra functions drive up the cost, making them less affordable for a wider variety of patients, especially those without insurance or living in low-income areas.

Furthermore, compared to typical inhalers, the production of smart inhalers entails more intricate procedures because they combine technological and pharmacological components. This intricacy raises the production's overall cost.

In addition, the supply chain for smart inhalers necessitates safe data processing and technical assistance, which raises operating expenses even further, hampering the smart inhalers industry.

Smart Inhalers Market: Opportunities

Increasing product launches offers a lucrative opportunity for market growth

The increasing product launch is expected to offer a lucrative opportunity for the smart inhalers market growth over the forecast period. For instance, in July 2023, global healthcare provider Viatris Inc. and Kindeva Drug Delivery L.P. announced the release of BreynaTM (budesonide and formoterol fumarate dihydrate)

Inhalation Aerosol, the first generic version of AstraZeneca's Symbicort® with an FDA-approved Abbreviated New Drug Application (ANDA). Asthma and chronic obstructive pulmonary disease (COPD) patients may benefit from Breyna, a medication-device combination treatment that will be accessible right away in dosage levels of 80 mcg/4.5 mcg and 160 mcg/4.5 mcg.

Smart Inhalers Market: Challenges

Competition from EVs poses a major challenge to market expansion

Lack of knowledge and uptake of smart inhalers is impeding the smart inhalers industry expansion. The benefits and accessibility of smart inhalers are not well known among patients with asthma and chronic obstructive pulmonary disease (COPD).

Most patients might not be aware that smart inhalers can provide better features that assist them in managing their disease, such as tracking drug usage and adherence because conventional inhalers have been around for decades.

Entering new markets is more challenging as a result of this ignorance, especially in regions with less advanced technology. Additionally, especially if they are elderly, patients may be hesitant to adopt new technologies like smart inhalers.

Smart Inhalers Market: Segmentation

The global smart inhalers industry is segmented based on the type, indication, distribution channel, end use, and region.

Based on the type, the global smart inhaler market is segmented into Dry Powdered Inhalers (DPIs) and Metered Dose Inhalers (MDIs). The Metered Dose Inhalers (MDIs) segment is expected to dominate the market.

MDIs have become more and more popular since they are simple and effective to use in quick spray bursts of a predetermined dosage, which are often inhaled by the patient.

To provide generic MDIs for conventional COPD/Asthma applications to H&T Presspart's clients, the UK-based research lab OzUK Limited teamed up with H&T Presspart in September 2022.

Based on the indication, the global smart inhaler industry is bifurcated into asthma, COPD, and others.

Based on the distribution channel, the global smart inhaler market is bifurcated into hospital pharmacies, retail pharmacies, and online pharmacies.

The hospital pharmacies segment is expected to capture the largest market share during the forecast period. When it comes to buying smart inhalers for hospitalized patients, hospital pharmacies provide greater comfort, flexibility, and convenience.

Furthermore, the growing prevalence of various chronic respiratory conditions—the main user groups for smart inhalers—is causing a greater concentration of patients in hospitals. As a result, people find it easier to buy smart inhalers from local hospital pharmacies, which helps the market expand.

Based on the end use, the global smart inhaler industry is bifurcated into hospitals, homecare settings, and others.

Smart Inhalers Market: Report Scope

Smart Inhalers Market: Regional Analysis

North America dominates the market over the projected period

North America is expected to lead the global smart inhalers market growth. The growth of the region is attributed to the growing prevalence of respiratory disease. Disorders such as asthma, chronic obstructive pulmonary disease (COPD), and others are prevalent in the region.

For instance, the Centers for Disease Control and Prevention (CDC) projected that approximately 25 million Americans have asthma and that COPD is one of the main causes of disability in the country.

As these disorders rise, there is a growing demand for smart inhalers. Furthermore, the presence of major players such as 3M and many others drives the expansion of the market.

Besides, the Asia Pacific is growing at the fastest rate over the forecast period. The market for smart inhalers is expanding in the area due to several factors, including the growing elderly population, the expanding healthcare infrastructure, the rising prevalence of respiratory disorders, and increased awareness of the advantages of utilizing smart inhalers. It is anticipated that growing government and business sector efforts to raise awareness of respiratory illnesses will fuel market expansion.

Using mega diagnostic camps, marathons, and rallies, ALKEM, for instance, started an asthma awareness campaign on World Asthma Day 2023 in May 2023 to raise awareness among doctors and patients about SMART treatment for asthma.

Smart Inhalers Market: Competitive Analysis

The global smart inhalers market is dominated by players like:

• Presspart Verwaltungs GmbH.
• Personal Air Quality Systems Pvt Ltd
• COHERO Health Inc. (AptarGroup Inc.)
• Cognita Labs
• adherium
• Amiko Digital Health Limited.
• Teva Pharmaceuticals Industries Ltd.
• Propeller Health (ResMed)
• Novartis AG
• Pneuma Respiratory Inc.
• 3M
• AireHealth Inc.
• FindAir Sp. z o.o

The global smart inhalers market is segmented as follows:

By Type

• Dry Powdered Inhalers (DPIs)
• Metered Dose Inhalers (MDIs)

By Indication

• Asthma
• COPD
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By End Use

• Hospitals
• Homecare Settings
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa