The global smart inhalers market expected to be US$ 1,094.26 Mn in 2018 and is predicted to grow at a CAGR of 25.5% during the forecast period 2019 – 2027, to reach US$ 8,033.21 Mn by 2027.
The players in the market are adopting various inorganic and organic developments for individual growth, and thus, the growth of the market is highly dependent on them. The vital players in the smart inhalers market focus on various growth strategies to strengthen their presence and accordingly hold major market share across the global market. Some of the notable players in the global smart inhalers market include GlaxoSmithKline plc, Adherium Ltd., Cohero Health, Novartis AG, and others. The major market players within recent years have been observed to invest a substantial amount towards the development of new products. This implies a bright picture of the type of strategies majorly incorporated by the market players to sustain their positions as well as to generate increased growth revenue in the smart inhalers market. The global leaders in the market have been majorly adopting strategies such as product launches, approvals, partnerships, collaborations, and agreements as key strategies to improve its product offerings in order to build up customer-centric benefits to its end users and enhance its geographic diversification.
In order to strengthen their customer base, global leaders have adopted strategies such as collaboration with other companies operating in the Smart Inhalers Market. For instance, during August 2018, Propeller Health entered into a collaboration with Novartis to Connect Breezhaler Devices to the Propeller Platform. This has helped both the companies to serve its customers with COPD in the European region better.
Apart from inorganic growth strategies such as collaborations, the companies have also launched their products in the Smart Inhalers Market during recent years. For instance, during August 2018, Adherium launched the Hailie solution in the U.S market, after its recent FDA over-the-counter clearance to facilitate sales direct to consumer. The introduced Hailie solution helps patients suffering from asthma and COPD to access care through a digital experience, which includes a smartphone app and a sensor which attaches to patient’s prescription inhaler medication.