According to a new report, published by KBV research, The Global Smart Inhalers Market size is expected to reach $414.4 million by 2027, rising at a market growth of 24.9% CAGR during the forecast period.
The Metered Dose Inhalers (MDI's) segment acquired maximum revenue share in the Global Smart Inhalers Market by Product in 2020, thereby, achieving a market value of $259.3 million by 2027. MDIs are commonly used to provide inhaled respiratory medicines. The MDI is a medicine canister that is pressurized and held in a plastic holder with a mouthpiece. When sprayed, it delivers a constant and predictable amount of medication, which makes it easy to use and hence, contributing to the growth of the segment.
The Chronic Obstructive Pulmonary Disease (COPD) segment is showcasing a CAGR of 26.2% during (2021 - 2027). COPD consists of a set of lung illnesses that restrict airflow and make breathing difficult. COPD is made up of conditions, the most prevalent of which are emphysema and chronic bronchitis. COPD causes irreversible damage to the lungs. Shortness of breath, wheezing, or a chronic cough are all symptoms. Steroids, whether inhaled or taken orally, as well as rescue inhalers, enable the patient in managing the symptoms and preventing additional damage. Hence, with the increase in COPD cases, there is likely to be an increase in the demand for smart inhalers.
The Hospitals Pharmacies segment is leading the Global Smart Inhalers Market by Distribution Channel in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $191.0 million by 2027. The patient population getting treatment in hospital settings has easy access to hospital pharmacies. Furthermore, a number of smart medicine delivery device businesses have distribution agreements with hospital pharmacies. As a result, the aforementioned considerations strongly suggest that the hospital pharmacy-based smart inhaler market would grow at a favorable rate throughout the forecast period. Furthermore, the government's expanding initiatives to integrate smart medical devices in such settings will fuel segmental growth.
The North America market dominated the Global Smart Inhalers Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $152.3 million by 2027. The Europe market is estimated to witness a CAGR of 24% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 27.1% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/smart-inhalers-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Adherium Limited, Aptar Group Inc. (Cohero Health Inc.), AstraZeneca, Inc., Cognita Labs, LLC, GlaxoSmithKline Plc, Novartis AG, OPKO Health, Inc., Philip Morris International, Inc. (Vectura Group Plc), Resmed, Inc. (Propeller Health), and Teva Pharmaceutical Industries Ltd.
By Product
By Disease Indication
By Distribution Channel
By Geography
Companies Profiled
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