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Global Smart Inhalers Market Size, Trends and Forecast Report 2022-2031 with Impact Analysis of COVID-19

Kenneth Research has recently added a report titled Global Smart Inhalers Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Smart Inhalers Market products.

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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global smart inhalers market is valued at approximately USD 16.4 Million in 2017 and is anticipated to grow with a healthy growth rate of more than 63.3 % over the forecast period 2018-2025. Technological advancements in smart inhalers is the major trend that are responsible for the wide adoption of smart inhalers globally.

Global smart inhalers market is mainly driven by rising prevalence of respiratory diseases such as asthma and COPD. According to WHO, over 90 % of COPD (Chronic obstructive pulmonary disease) observed in middle- & low-income countries. The prevalence of COPD and asthma is rising due to several reasons such as growing consumption of tobacco and cigarettes, rising aging population and growth of air pollutants. The prevalence rate of COPD is high in the United States. COPD is the third leading cause of death in the United States. Further, according to the Asthma Organization UK, in 2015 around 5.4 million people in United Kingdom are presently receiving asthma treatment out of which 4.3 million are adults and rest 1.1 million are children. Moreover, in United Kingdom one in every 11 people is suffering from asthma. This clearly states that there is high prevalence of respiratory diseases positively affects the demand for the smart inhalers. However, lower acceptance in emerging economies is the major factor that impede the growth of global smart inhalers market.

On the basis of segmentation, the smart inhalers market is segmented into product, indication and end-user. The product segment of global smart inhalers market is classified into inhalers and nebulizers of which inhalers dominates the major as inhalers are preferred as first option of treatment, portability. Based on indication, the smart inhalers market is classified into asthma and COPD. On the basis of end-user, the market is classified into patients and research & development.

The regional analysis of smart inhalers market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America have occupied major share in the global smart inhalers market. The major reasons for the dominance of North America are high awareness regarding asthma and COPD treatment, high technological innovations in healthcare sector, high adoption of smart inhaler device and growing adoption of IOT in healthcare industry. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to growing population affected with respiratory diseases due to rising air pollution.

The leading market players mainly include-
Teva Pharmaceuticals Industries Ltd
Vectura Group PLC
AstraZeneca PLC
Boehringer Ingelheim Gmbh
Propeller Health
Cohero Health LLC
Adherium Limited
Novartis AG
Glaxo SmithKine PLC
OPKO Health

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Inhalers
Metered Dose Inhalers
Dry powder inhalers
Nebulizers

By Indication:
Asthma
COPD

By end-user:
Patients
R&D

By Regions:
North America
U.S.
Canada
Europe
UK
Germany
ROE
Asia Pacific
China
India
Japan
ROAPEC
LAMEA
Brazil
Mexico
ROW
Middle East & Africa

Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025

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Target Audience of the Global Smart Inhalers Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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