Smart Inhalers Market Analysis

Smart Inhalers Market Analysis

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The market by product is categorized into on DPI-based smart inhaler and MDI-based smart inhaler. The DPI- based smart inhalers segment garnered USD 959.4 million revenue size in the year 2022.

• DPI-based smart inhaler is used to deliver specific dry powder medication to the lungs. This type of inhaler combines dry powder fluidization mechanism with unique real-time feedback and a data logger for indication of proper inhalation technique.
   
• Moreover, several digital and pharmaceutical companies are focusing on advanced device development mechanisms and integration of add-on sensors thereby resulting in segment expansion.

The smart inhalers market by disease indication is categorized into COPD and asthma. COPD held over 57% of industry share in 2022.

• Growing prevalence of COPD will augment the market demand in upcoming years. Factors such as aging population base, continued exposure to risk factors such as tobacco smoke and air pollution, coupled with improved disease diagnosis contribute to a growing number of COPD patients. Hence, the factors listed above are projected to contribute towards market share.
   
• For instance, as per Forum of International Respiratory Societies (FIRS) survey, COPD is the most prevalent non-communicable respiratory disease. An estimated two hundred million people have COPD and about 3.2 million die each year due to this condition, making it the third-leading cause of death worldwide.
   

The smart inhalers market by distribution channel is categorized into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment accounted for considerable market revenue in 2022 and is estimated to proceed at an 8.3% CAGR during the projected timeframe.

• Expanding infrastructure of hospital pharmacies in emerging markets will proliferate segment expansion. Moreover, easy accessibility to patients seeking treatment from the hospital is another factor contributing to revenue growth.
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• Product availability is another factor expected to increase the demand for smart inhalers in these settings. Hospital pharmacies are well connected with the smart inhaler distributors thereby positively influencing overall market trends.

U.S. smart inhalers market accounted for USD 520 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.

• Technological advancements coupled with substantial healthcare expenditure are the factors driving the market progress. Increasing incidence of chronic respiratory diseases further stimulates the use of smart inhalers.
   
• Major players in the industry are focusing on development of innovative product portfolio for respiratory disease treatment thereby creating new opportunities for the U.S. market size.