Smart Pediatric Inhalers Market Segmentation By Product (Inhalers-Dry Powder Inhalers (DPIs) and Metered Dose Inhalers (MDIs) and Nebulizers); By Indication (Asthma and Chronic Obstructive Pulmonary Disease (COPD)); By End User (Hospitals, Clinics, Pharmacy shops and Others) – Global Demand Analysis & Opportunity Outlook 2027
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Smart inhalers are connected inhalers and sensors. These are mainly used as clip-on sensors that are attached over a normal inhaler (DPIs, MDIs) or nebulizers for the treatment of asthma and COPD. Smart inhalers are the devices that provide data wirelessly through cloud, internet or mobile applications. These devices track the usage of the dose as and when taken by the patients and also alert the patients through timely reminders. Smart pediatric inhalers would help the children with respiratory diseases as well as their parents about the schedules and dosage of the medicines to be taken. These smart inhalers would also help the doctors to communicate with their patients. Inhalers also warn the patients to avoid the polluted areas.
According to the findings of World Health Organization (WHO), chronic obstructive pulmonary disease is responsible for 5% of global deaths annually. There is no permanent cure for chronic respiratory illness such as COPD, asthma and bronchitis. Immediate symptomatic relief provided by respiratory inhalation is the best possible care. Asthma is a type of chronic disease characterized by recurrent attacks of breathlessness and wheezing, which vary in severity and frequency from person to person. Symptoms may occur several times in a day or week in affected individuals and for some people it becomes worse during physical activity or night. During an asthma attack, the lining of the bronchial tubes of a person swell causing the airways to narrow and reducing the flow of air into and out of lungs. Recurrent asthma symptoms can cause sleeplessness, daytime fatigue, reduced activity levels. It has a relatively low fatality rate compared to another chronic diseases.
As per WHO, Chronic Obstructive Pulmonary Disease (COPD) is not a single disease but an umbrella term used to describe chronic lung diseases that cause limitations in lung airflow. The most common symptoms of COPD are breathlessness or a ‘need of air’ excessive sputum production and a chronic cough. It is a life-threatening lung disease that may progressively lead to death.
The global smart pediatric inhalers market is anticipated to record a CAGR of around 18% during the forecast period i.e. 2019-2027. The market is segmented by product, indication and end user. By indication, the asthma segment is anticipated to have significant growth on account of asthma being the most prevalent respiratory disease which is expected to become more prevalent due to increasing pollution.
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The biomass fuels for cooking or heating in homes in the underdeveloped or developing countries produces large amount of smoke that can cause chronic respiratory diseases among women as well as children which can prove fatal for them arising the need of pediatric inhalers. Increasing indoor population is expected to boost the growth of the smart pediatric inhalers market.
The outdoor air pollution includes tobacco smoke, smoke emitted from factories and various vehicles, burning of waste etc. which can cause various respiratory diseases such as asthma, COPD etc., this smoke is more harmful for kids than adults as they are less immune to such situations. This will arise the need of pediatric smart inhalers thereby boosting the growth of the market.
With increasing prevalence of chronic respiratory diseases, the medicines manufacturers have launched innovative applications and wireless services to enhance drug delivery and patient compliance which will benefit the demand for smart pediatric inhalers expected to boost the growth of the smart pediatric inhalers market.
The smart pediatric inhalers help the doctors to monitors the dosage of the medicines to be taken by their patients and provide them with their schedule. These smart inhalers are smart enough to remind the patients about when to take their medicine and track their dosage and can also warn them about avoiding polluted areas near them, which is expected to boost the growth of the smart pediatric inhalers market.
Asthma and COPD are the most prevalent chronic respiratory diseases that occur among children and their treatment cost is high which can be difficult to afford by the low-income and middle-income families thereby, hindering the growth of the smart pediatric inhalers market.
As the smart inhalers are connected to the smartphones and other smart devices of the users, the personal data of the users can be misused or extracted from their devices without their permission which is expected to impede the growth of the smart pediatric inhalers market.
Our in- depth analysis of the smart pediatric inhalers market includes the following segments:
On the basis of regional analysis, the smart pediatric inhalers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to have leading market share owing to rampant growth in tobacco smokers and continuous technological advancements by the players in the region. Smart LA with the support of Blue Shield California Foundation, Los Angeles County Department of Public Health and the Asthma Coalition of Los Angeles County to equip the children with smart inhalers. These sensors are Bluetooth sensors equipped devices attached to asthma medication to track the time and location of usage, patients are reminded to take their medicine and avoid polluted areas with the help of inhalers and smartphones. Europe is expected to grow significantly attributing to the increasing number of pediatric patients suffering from asthma and strategic collaboration between pharmaceutical and software companies to provide a smart inhaler system. Asia- Pacific is expected to be the fastest growing region during the forecast period on the back of increasing geriatric patients suffering from chronic pulmonary illness and upcoming players in the region who are projected to give tough competition to the major existing players.
The smart pediatric inhalers market is further classified on the basis of region as follows:
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