Smart Inhalers Market to Cross USD 1,400 Million By 2026
According to the report, The global Smart Inhalers market in 2019 was approximately USD 50 Million. The market is expected to grow above a CAGR of 58% and is anticipated to reach over USD 1,400 Million by 2026.
Smart inhalers are instruments which are used by inhalation to administer a range of medicines. The medications included in the inhalers include glucocorticoids,anti-cholinergic, leptin, and beta-agonists for managing and avoiding respiratory disorders such as chronic obstructive pulmonary disease disorders. These inhalers are called smart inhalers because of the sensors attached to the inhalers that monitor the correct dose per intake and the technique used to inhale the medication. The information procured by the sensor is imparted to the patient and medicinal services experts to follow their inhaler utilization. The information checked is then common utilizing the Bluetooth innovation to their versatile applications through a stage, for example, Hailie. Hailie frameworks is a kind of sensors that is appended to the inhaler and offers the information through the working stage for following their wellbeing and adherence rate. In patients suffering from asthma and COPD, smart inhalers have shown to improve adherence rate. In addition, smart inhalers also help to monitor the technique used to inhale the medicine in an efficient way compared to normal inhalers. There are two forms of Smart Inhalers, such as dry powder inhalers and metered dose inhalers.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the Smart Inhalers industry. The Smart Inhalers market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the Smart Inhalers sector. Key strategic developments in the Smart Inhalers market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Smart Inhalers market are appropriately highlighted in the report.
The major players operating in the market are Adherium Limited, Boehringer Ingelheim group, AstraZeneca PLC, Cohero Health, Inc., Novartis International AG, GlaxoSmithKline plc, ResMed Inc. (Propeller Health), Teva Pharmaceutical Industries Limited, OPKO Health, Inc., and Vectura Group plc. Major operating players in the Smart Inhalers market concentrate on manufacturing more advanced, reliable and cost-effective masks to lead to the growth of revenues in the industry.