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Global Smart Inhalers Market to Grow at a CAGR of 56% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Smart Inhalers Market Report and Forecast 2021-2026’, the global smart inhalers market attained a value of about USD 36 million in 2020. The industry is further expected to grow at a CAGR of 56% in the forecast period of 2021-2026 to reach a value of USD 518.9 million by 2026.

The global smart inhalers market is driven by the growing occurrence of breathing disorders and diseases like asthma and chronic obstructive pulmonary disease, along with the increasing technological developments in the market. The markets in regions like the Asia Pacific are set to exhibit lucrative growth due to an increase in the number of vendors tapping the region's unexplored economies. In conjunction with this, the increasing expenditure on healthcare infrastructure and IT development in emerging countries would positively affect the market in this region. Europe is most likely to see substantial growth in the coming years owing to higher product demand from developing countries within the region, such as the United Kingdom, France, and Germany.

The growing technological developments, along with rising M&A activities, are expected to influence the market positively. In the historical period, AstraZeneca (OTCMKTS: AZNCF) and Adherium, two of the key players in the market, formed a digital health partnership to collaborate on the technology used in smart inhalers. Such collaborations are expected to aid the market growth.

Market Analysis by Product, Indication, Distribution Channel, and Region:

  • The market on the basis of products can be divided into inhalers and nebulizers.
  • Based on indication, the industry can be bifurcated into asthma and COPD.
  • The distribution channels for smart inhalers include hospital pharmacies, retail pharmacies, and online pharmacies.
  • The regional markets for smart inhalers include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising occurrence of breathing problems like COPD and asthma due to the growing pollution is expected to aid the market growth.
  • Due to the possession of superior properties and the benefits offered by connected drug delivery devices, patients are now gradually inclining towards smart inhalers from the manual ones, thus, supporting the growth of the market.
  • The growing focus on preventive care by the masses is likely to contribute towards the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global smart inhalers market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, indications, distribution channels, and major regions of smart inhalers.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter's Five Forces models.

The major players in the global smart inhalers market are Adherium Limited, AstraZeneca PLC, Boehringer Ingelheim group, Cohero Health, Inc., GlaxoSmithKline plc, Novartis International AG, OPKO Health, Inc., ResMed Inc. (Propeller Health), Teva Pharmaceutical Industries Limited, and Vectura Group plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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