Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Smart Pediatric Inhalers Market Overview
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.
Market Size and Forecast
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.CLICK TO DOWNLOAD FREE SAMPLE
Growth Drivers
Increasing indoor pollution
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.
Outdoor air pollution
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.
Launch of innovative applications
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.
Monitor medicine dosage
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.
Restraints
High cost of asthma and COPD treatment
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.
Misuse of data
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.
Market Segmentation
Our in- depth analysis of the smart pediatric inhalers market includes the following segments:
By Product
By Indication
By End User
By Region
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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