Smart Inhalers Market: Overview
Smart inhalers, also known as
connected inhalers and sensors are predominantly used as clip-on sensors, which
are fastened on top of a regular nebulizer for the treatment of chronic
obstructive pulmonary disorder (COPD) and asthma. Smart inhaler technology is
birthing as one of the most notable areas that pharmaceutical companies are
engaged in order to push digital health.
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Smart inhalers help patients keep
track of dosage of relievers or preventers that are administered at various
intervals during the day. These smart devices can raise reminders and alerts
for users based on previous pattern of dosage administration or based on inputs
fed by users.
Smart Inhalers Market: Key Trends
The growth of the smart inhalers
market is attributed to increasing air pollution, increasing incidence of
respiratory diseases such as COPD and asthma, and burden on healthcare services
due to higher cases of COPD and asthma. In addition, increasing adoption of
smart inhalers for proper management of COPD and asthma are further boosting
the market’s growth.
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Top pharmaceutical companies are
adopting digital technology in their way for improved disease management such
as that for asthma and COPD and for improving the efficacy of prescribed
medicines. Extensive benefits that range from reducing hospital admissions to
improving the efficacy of medicines, makes smart inhalers the talk of the town
in the respiratory care segment.
However, high costs involved in
the treatment of COPD and asthma due to their chronic nature, limited
availability of smart inhalers, and misinterpretation of information are
expected to challenge the market’s growth.
Smart Inhalers Market: Market Potential
The efficacy and ability for the
smart management of respiratory diseases has called in for smart inhalers to
enter the U.K healthcare system, as per a recent industry news. The impending
entry of smart inhalers in the National Health Service (NHS) might herald the
onset of the smart healthcare age. However, proper planning and rigorous
testing is needed before smart inhalers ensure smart-enabled healthcare
delivers best outcomes for individuals with asthma, adds the NHS.
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Smart Inhalers Market: Regional Outlook
On the regional perspective,
Europe has emerged as the second largest market for smart inhalers. This is
because smart inhalers are increasingly being adopted in hospitals and
physicians’ offices, thereby boosting the market growth. The European Academy
of Allergy & Clinical Immunology is continuously striving to increase
awareness about COPD and asthma and the use of technology for smart management
of these conditions.
North America stood as the largest
revenue generator for the market in the recent past, whereas Asia Pacific is
expected to rise at a double-digit growth rate over the next few years. Asia
Pacific has vast untapped opportunities in the smart inhalers market as it has
a growing population base combined with rising disposable incomes and
increasing awareness about the use of digital devices for proper disease
management.
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Smart Inhalers Market: Competitive Landscape
Some important players in the
smart inhalers market include Teva Pharmaceuticals Industries Ltd., Vectura
Group plc, AstraZeneca plc, Propeller Health, Adherium Limited, GlaxoSmithKline
plc, Boehringer Ingelheim GmbH, Cohero Health LLC, OPKO Health Inc., and
Novartis AG.
Of these, Adherium is a key
player in the market with majority of product approvals to its credit. Because
smart inhalers is a lucrative market, collaborations and acquisitions between
pharmaceutical companies, smart inhaler manufacturers, and medical device
companies is on the rise for larger market share. Key players in the smart
inhalers market are also focused on product approval and clinical trials to
stay competitive in this market.
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