Portland, OR -- (SBWire) -- 08/23/2017 --Allied Market Research published a detailed report on the global smart inhalers market. According to the expert analysis, the global Smart Inhalers Market is expected to garner a whopping $191 million by 2022. The market, valued at $5.8 million in 2015, will show a compound annual growth rate of 63.3% in the forecast period 2016–2022. Wireless data transfer via the cloud, the internet, or mobile apps is possible using smart inhalers.
Porter's Five Forces model analyses the influence of the suppliers, buyers, new entrants, substitutes, and the intensity of competitive rivalry among the key players on the global smart inhalers market. The clinical trials carried out to evaluate and test the performance of smart inhalers are also included in the report. The report covers the factors affecting the dynamics of the market such as the key driving factors, major restraints, and the global opportunities available for the growth of the market. Air pollution has been on the rise with a larger population vulnerable to indoor air pollution. The cases of asthma, COPD, and chronic conditions have been on a rise, leading to a high demand for digitized medical devices. Pharmaceutical companies and smart inhaler manufacturers are collaborating to increase the penetration of smart inhalers in the global market and generate higher revenues.
However, digitization of medical instruments has a few drawbacks. Confidential data such as the medical history and reports of the patients can be transferred easily over the internet, thus risking the privacy of the patients. Along with data security and privacy, the limited availability and high cost of smart inhalers are the major hurdles in the growth of the smart inhalers market. A large fraction of the consumer base still prefers the traditional inhalers, thus limiting the market's growth. With technological advancements in the smart inhalers market and a huge unmet need in respiratory care has opened up a wide range of opportunities for growth to the new entrants and potential investors in the market.
The report segments the global smart inhalers market, based on the product type, indication, end user, and the geography. Smart inhalers are available in the form of inhalers and nebulizers. The indication segment comprises of asthma and COPD. Patients suffering from asthma and COPD are the major users of smart inhalers. These inhalers are also used in the Research & Development centers. The report analyses the presence of smart inhalers across the globe in the regions of North America, Asia-Pacific, Europe, and LAMEA.
The leading players in the market include Adherium Limited, Teva Pharmaceutical Industries Ltd. (Gecko Health Innovations), Propeller Health, Cohero Health LLC, Opko Health Inc., GlaxoSmithKline plc, Novartis AG, AstraZeneca plc, Boehringer Ingelheim GmbH, and Vectura Group plc.
Key points to be considered
- The nebulizers segment will outshine the dominant inhalers segment by exhibiting the fastest CAGR of 64.1% in the forecast period.
- Globally, the Asia-Pacific market is projected to be the fastest-growing region owing to an improvement in healthcare infrastructure and also the expenditure related to healthcare in emerging countries like China and India.
- The U.S. and German smart inhalers market are expected to grow at a compound annual growth rate of 59.5% and 68.2% respectively.
- The report has profiled the key market players and the winning strategies adopted by them in order to provide a deeper understanding of the market.
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