The Asia Pacific Smart Inhalers Market would witness market growth of 27.1% CAGR during the forecast period (2021-2027).
Smart inhalers are predicted to improve patients’ adherence to conventional inhalers. Patients' unintentional non-adherence occurs when they misinterpret instructions, forget, or have physiological problems, such as poor coordination or vision, limiting their ability to take their medications. The smart inhaler industry is a fairly competitive one due to multiple collaborations, partnerships, and acquisitions among pharmaceutical companies and smart inhaler producers. Additionally, the rise in healthcare expenditure in developing economies presents hugely profitable opportunities for the market and therefore offers suitable conditions for key players to invest.
Smart inhalers monitor and communicate data about inhaler use. Smart inhalers have sensors that attach to existing inhalers and keep track of when a patient takes their prescription. They are Bluetooth-enabled and may be connected wirelessly with a smart device such as a phone or tablet, as well as a computer, to automatically upload data from the smart inhaler. An app on a smartphone could receive and analyze data from a smart inhaler in the future, and send health advice and reminders. This information may also be shared with the doctor, asthma nurse, or hospital staff in order to better personalize care to their specific requirements. Recognizing when and where particular symptoms flare up might help patients identify personal triggers and create a self-management plan that is more suited to them.
Due to the increasing number of suppliers penetrating the untapped emerging Asian economies, the market in the Asia Pacific is expected to rise at a lucrative rate. Additionally, increasing spending on healthcare IT development in emerging countries will fuel regional expansion. India's healthcare system is still developing, but it has a lot of potential, making it a very attractive market for smart inhalers. As a rising economy, India is witnessing significant industrialization and urbanization, which has increased pollution levels in the country and, as a result, increased respiratory disease cases. Asthma incidences have increased dramatically, resulting in a significant demand for asthma inhalers across the country. In addition, the country's elderly population is growing, putting more people at risk of respiratory problems. All of these reasons add up to a very profitable market for smart inhalers in India. As more people become aware of smart inhalers and their benefits become clear, product adoption in India is projected to skyrocket.
The China market dominated the Asia Pacific Smart Inhalers Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $33,826 Thousands by 2027. The Japan market is poised to grow at a CAGR of 26.4% during (2021 - 2027). Additionally, The India market would experience a CAGR of 27.9% during (2021 - 2027).
Based on Product, the market is segmented into Metered Dose Inhalers (MDI's), and Dry Powdered Inhalers (DPIs). Based on Disease Indication, the market is segmented into Asthma, and Chronic Obstructive Pulmonary Disease (COPD). Based on Distribution Channel, the market is segmented into Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Inhalers Market is Projected to reach USD 414.4 Million by 2027, at a CAGR of 24.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 Country
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