Smart Inhalers Market is anticipated to grow at a CAGR of 11.5% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Smart Inhalers Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global smart inhalers market accounted forover US $137.6millionin 2019. The market is anticipated to grow at a CAGR of 11.5% from 2020 to 2030.
The market growth of smart inhalers can be attributed to factors such as the growing geriatric population globally and the rising number of patients suffering from respiratory diseases. According to the Office of Disease Prevention and Health Promotion, more than 25 million in the U.S. are suffering from asthma and 14.8 million adults have been diagnosed with COPD. Also, according to the WHO, smoking is considered to be a primary cause for COPD and more than 1 billion people inhale polluted air exposed to tobacco outdoors. These are among the primary factors that willlead to market growth.
A smart inhaler offers better drug delivery for the treatment of the respiratory tract diseases through noninvasive meansto deliver either topically active medications or systemic drugs to target organs. The nose and the lungs are the target organs for the deposition of anaerosol drug. In asthma, drug delivery to the upper airways is needed while for alveolar lung diseases, such as chronic obstructive pulmonary disease (COPD) and idiopathic pulmonary fibrosis, it is important to have drug deposition deep within the lungs rather than just the upper airways.
Other factors,suchas the rising number ofdigital partnerships between pharmaceutical and software companies to offer smart inhaler devices is expected to offer lucrative growth opportunities to the market. Moreover, technological advancements for the development of innovative products by the keyplayersare also boosting marketgrowth.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Smart Inhalers Market By Product Type (Dry Powder Inhalers and Metered Dose Inhalers), Disease Indication (Chronic Obstructive Pulmonary Disease (COPD) and Asthma), Distribution channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) -Analysis & Forecast 2020-2030. in detail along with the table of contents:https://www.marketindustryreports.com/smart-inhalers-market/324
However, the lack of awareness among the patients regarding novel technologyisa major factor hamperingmarketgrowth.Additionally, limited product availability in emerging regionsis expected to hamper the growth of the target market.
Asia Pacific is the fastest-growing market for smart inhalersand is anticipated to contribute significantly to the global market share. The growth inthis region can be attributed to the increasing prevalence of various respiratory diseases, the growing adoption of advanced smart inhalers and increased diagnosis &treatment of various respiratory diseases, which increases the demand for smart inhalers. Countries in the APAC region, such as India, China, and Japan, are anticipated to provide significant growth opportunities for the global smart inhalersmarket due toa large number of aging populations susceptible to various respiratory diseases.
Some of the prominent players in the smart inhalers market include Astra Zeneca plc, GlaxoSmithKline plc, Novartis AG, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., AptarGroup, Inc., Vectura Group plc, Findair Sp. z o. o., H&T Presspart Manufacturing Ltd., and Zeolr Technologies Pvt Ltd,among others.
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