Hyderabad, India — 03/13/2018 — Smart inhalers are different than regular inhalers in which they make use of Bluetooth technology to track the use of the inhaler, they remind the user to take the medication assemble information to enable guided care. They can possibly enhance patients' adherence to asthma treatments and monitor their condition.
The smart inhaler market was worth USD 19.91 Million in 2016 and is expected to grow at a CAGR of 68.27% to reach a market value of USD 268.6 Million.
The expansion of the market is majorly credited to rising air contamination, the expanding frequency of respiratory illnesses, for example, COPD and asthma, and inefficiency of health care services owing to the higher instances of these ailments. Also, expanding reception of smart inhalers for the legitimate administration of COPD and asthma are further boosting the market's development.
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Top pharmaceutical organizations are receiving advanced innovation in their way for enhanced illness administration, for example, that for asthma and COPD and for enhancing the adequacy of endorsed meds. Broad advantages that range from lessening healing centre admissions to enhancing the viability of meds, makes smart inhalers all the rage in the respiratory care portion.
However, the main restraining factors of the market like lack of distribution and high prices should be curbed to expand the market
Geographically, the market is categorized into North America, Latin America, Asia-pacific, Europe and the Middle East & Africa. North America is expected to dominate the market globally followed by Europe. North America market is benefitted by the higher acceptance of technology in health care. Asia-pacific is expected to witness the highest growth rate during the forecast period owing to the high interest of the key players to participate in markets of this region.
Some of the key players of Smart Inhaler Market are Vectura Group plc, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Boehringer Ingelheim GmbH, AstraZeneca plc, Adherium Limited, Cohero Health, LLC, Propeller Health, GlaxoSmithKline plc and OPKO Health, Inc.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated. The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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