The global smart inhalers market is set to gain impetus from the rising utilization of digital technology in the field of healthcare devices. It is aiding in increasing the efficiency of drug delivery devices and is, in turn, speeding up the treatment procedures. This information is published by Fortune Business Insights™ in a recent report, titled, “Smart Inhalers Market Size, Share & Industry Analysis, By Product (Dry Powder Inhaler (DPI) - Based Smart Inhalers, Metered Dose Inhaler (MDI) - Based Smart Inhalers), By Disease Indication (Asthma, Chronic Obstructive Pulmonary Disease (COPD)), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Channel) and Regional Forecast, 2020-2027.” The report further mentions that the smart inhalers market size was USD 28.62 million in 2019 and is projected to reach USD 445.40 million by 2027, exhibiting a CAGR of 41.1% during the forecast period.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this [Market].
For More Information : https://www.fortunebusinessinsights.com/smart-inhalers-market-102705
Drivers & Restraints-
Rising Prevalence of Acute Respiratory Ailments to Spur Growth
The Global Burden of Disease conducted a study in 2015. It states that between 1990 to 2015, the cases of chronic obstructive pulmonary disease (COPD) upsurged by approximately 14.7%. It proves that the rising incidence of chronic respiratory diseases, such as COPD and asthma worldwide is likely to propel the smart inhalation devices market growth during the forthcoming period. In addition to that, patients are nowadays inclining gradually towards connected drug delivery devices from the manual ones because of the former’s possession of superior properties. Coupled with this, the increasing focus of the masses on preventive care would contribute to the market growth. However, manual inhalers are still considered to be substitute products. It may obstruct growth.
Segment-
MDI- Based Smart Inhalers Segment to Lead Backed by Their Clinical Benefits
In terms of product, the market is segregated into metered dose inhaler (MDI)-based and dry powder inhaler (DPI)-based inhalers. Out of these, the MDI-based smart inhalers segment is set to lead by gaining the maximum digital inhalers marketshare in the coming years. These smart inhalers have several clinical benefits. They aid in assisting in controlling and monitoring the amount of drug to be supplied as per the patient’s requirements. Many industry giants are also conducting research and development activities to come up with innovative technologies to be equipped in the medical devices.
Regional Analysis-
Rising Digitization in Healthcare to Favor Growth in North America
Geographically, the market is fragmented into Asia Pacific, Europe, North America, and the rest of the world. Amongst these, North America procured USD 20.04 million revenue in 2019. This growth is attributable to the major contribution of the U.S. The country is experiencing flexible regulatory scenario and favorable government policies. Additionally, its healthcare sector is going through tremendous digitalization. Also, the rising public and private funding initiatives to innovate smart inhalers would drive growth in this region.
Asia Pacific is set to exhibit a lucrative growth owing to the rising number of vendors tapping the unexplored economies in this region. Coupled with this, the increasing expenditure on the development of healthcare infrastructure and IT in the emerging countries would affect the market in this region positively. Europe would showcase significant growth backed by the higher demand for smart inhalers from the developed countries, such as the U.K., France, and Germany.
More Trending Topics From Fortune Business Insights@
Influenza Vaccine Market , Share, Growth, Sales and Drivers Analysis Research Report 2026
