The smart inhalers market size is projected to reach US$ 23.98 billion by 2031 from US$ 2.95 billion in 2023. The market is expected to register a CAGR of 29.9% during 2023–2031. Increasing acceptance of mobile health technology is likely to remain key trends in the market.
Smart Inhalers Market Analysis
The prevalence of asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and other respiratory diseases is increasing across the globe. For example, according to the World Health Organization (WHO), in 2022, the number of asthma-related deaths in 2019 was 455,000. In addition, the Burden of Disease Study in 2019 recorded 212.3 million cases of COPD worldwide, resulting in 3.3 million deaths. In addition, one of the major causes of respiratory diseases such as COPD and asthma is the rise in air pollution. Further, the Organization for Economic Co-operation and Development (OECD) estimates that global emissions of greenhouse gases are likely to grow by ~50% by 2050, primarily due to a 70% increase in CO2 emissions. Additionally, the beneficial effects on patients through combination therapy for asthma and COPD have increased, which has increased the demand for smart inhalers as they are one of the best ways to administer drugs. Hence, the growing prevalence of respiratory diseases among the global population is one of the factors driving the growth of the smart inhalers market.
Smart Inhalers Market Overview
Major factors driving the market growth includes rising cases of respiratory disorders, as well as growing adoption of generic inhalers. Additionally, increasing product development activities is likely to emerge as significant future trend in the market during the forecast period. However, lack of early diagnosis and high cost of inhalers is among the market deterrent factors.
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Smart Inhalers Market: Strategic Insights
Market Size Value in US$ 1,094.26 Million in 2018 Market Size Value by US$ 8,033.21 Million by 2027 Growth rate CAGR of 25.5% from 2018 to 2027 Forecast Period 2018-2027 Base Year 2018
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Smart Inhalers Market: Strategic Insights
| Market Size Value in | US$ 1,094.26 Million in 2018 |
| Market Size Value by | US$ 8,033.21 Million by 2027 |
| Growth rate | CAGR of 25.5% from 2018 to 2027 |
| Forecast Period | 2018-2027 |
| Base Year | 2018 |
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Smart Inhalers Market Drivers and Opportunities
Rising Rate Of Tobacco Smokers to Favor Market
As per the Action on Smoking and Health (ASH) Fact Sheet, in the UK in 2022, 12.9% of adults are smokers, with 14.6% of men and 11.2% of women smoking. This equates to around 6.4 million people in the population. The adult smoking rates by country in the UK in 2022 were as follows: England: 12.7%, Wales: 14.1%, Scotland: 13.9%, and Northern Ireland: 14.0%. Rising rate of tobacco smokers is major drivers of global smart inhalers market share.
Increasing Product Development Activities
With new medical knowledge and effective medicines, treatment with a wide range of asthma inhalers continues to advance. Rising use of ventilator combination therapies and increasing investments by major players in developing sophisticated ventilator inhalers are boosting the demand for respiratory inhalers. In addition to the numerous advantages of the device such as portability, convenience, and effectiveness, the growing number of developments is expected to strengthen the demand for smart inhalers in the coming years. A few of the major developments and approvals are listed below:
- In May 2024, Teva launched a digitally-enabled inhaler in the UK, marking its debut in the European market. The inhaler is intended for use by patients with chronic obstructive pulmonary disorder (COPD) and asthma.
- In March 2024, Berry Global introduced the BerryHaler, a dual chamber dry powder inhaler (DPI) with a dose counter. This new inhaler is designed to improve patient access to and support the effective delivery of combination drugs.
Thus, such growing advancements by various market players and product approvals are likely to catalyze the growth of the global smart inhalers market during the forecast period.
Smart Inhalers Market Report Segmentation Analysis
Key segments that contributed to the derivation of the smart inhalers market analysis are product, , disorder, and end user.
- Based on product, the smart inhalers market is bifurcated into nebulizers and inhalers. The inhalers segment held a larger market share in 2023.
- By disorder, the market is bifurcated into asthma and chronic obstructive pulmonary disease. The asthma segment held the larger share of the market in 2023.
- In terms of end user, the market is bifurcated into home-care settings and hospitals & clinics. The home-care settings segment held a significant share of the market in 2023.
Smart Inhalers Market Share Analysis by Geography
The geographic scope of the smart inhalers market report is mainly divided into five regions: North America, Asia Pacific, Middle East & Africa, Europe, and South & Central America.
North America has dominated the market. The US held the largest share of the market in this region in 2023, followed by Canada, owing to the increasing prevalence of COPD and asthma among people in the region. According to an article published in Merck Sharp & Dohme (MSD) Manual, ~16 million people suffer from COPD, which is a leading cause of death, claiming over 150,000 lives annually in the US. Thus, growing chronic respiratory disorder in the US are driving the growth of respiratory inhalers market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Smart Inhalers Market Report Scope
Smart Inhalers Market News and Recent Developments
The smart inhalers market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the smart inhalers market are listed below:
- In February 2022, Aptar Pharma, a global leader in drug delivery systems, services and active material science solutions, announced the launch of HeroTracker Sense, a novel digital respiratory health solution that transforms a standard metered dose inhaler (pMDI) into a smart connected healthcare device. (Source: Aptar Pharma, Press Release, February 2022)
- In October 2021, BreatheSuite announced that it received 510(k) clearance from the FDA for its Metered-Dose Inhaler V1 device, which turns existing inhalers into smart inhalers for people with asthma and COPD. (Source: BreatheSuite, Press Release, October 2021)
Smart Inhalers Market Report Coverage and Deliverables
The “Smart Inhalers Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Smart inhalers market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Smart inhalers market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Smart inhalers market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the smart inhalers market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Disorder, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The smart inhalers market is estimated to record a CAGR of 29.9% till 2031.
The smart inhalers market is expected to be valued at US$ 23.98 billion in 2031.
Increasing product development activities be the trend in the smart inhalers market
The smart inhalers market majorly consists of the players, including GlaxoSmithKline plc., Cohero Health, Inc., Crux Product Design Ltd, Adherium Limited, Novartis AG, Vectura Group plc, Findair Sp. z o. o., Teva Pharmaceutical Industries Ltd., 3M, and Amiko Digital Health Limited.
Factors such as increasing prevalence of respiratory diseases and rising rate of tobacco smokers propel the smart inhalers market.
The North America region held the largest share of in the smart inhalers market 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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