The global smart inhalers market is projected to witness lucrative avenues in the upcoming period. In recent years, the world is witnessing increased air pollution due to risingindustrialization and urbanization. As a result, there is tremendous growth in cases of asthma and chronic obstructive pulmonary disorder (COPD). As smart inhalers are useful in the management of COPD and asthma, growing cases of these diseases is projected to drive the demand for products from the global smart inhalers market.
Adoption of Advanced Technology Pushing Demand
Smart inhalers are designed to keep the track of dosage of preventers or relievers administered at differenttime intervals. Key specialty of these devices offer alerts and remindersusing the inputs provided by users or previous dosage administrationpatterns. In recent times, major worldwide population is inclined toward the use of smart technologies. As a part of this trend, many people are adopting the use of smart inhalers to manage diseases such as asthma and COPD. As a result, the worldwide demand for products from the smart inhalers market is increasing.
At the same time, the pharmaceutical and healthcare sectorsare chasing the moves of advanced technologyimplementation in the respiratory care segment.The move of incorporating smart inhalers is helping them in improving the chronic disease management including diseases like COPD and asthma. Similarly, this move is also aiding in advancing the efficiency of the medicines used in the management of these diseases. As a result, there is significant reduction in hospital admissions of patients suffering from COPD and asthma. All these benefits are stimulating the growth of the global smart inhalers market.
Research Activities Opening New Growth Avenues
Vendors from the global smart inhalers market are consistently working on improving the quality of the products they offer. Thus, they are growing investments in research activities. As a result, the market is witnessing launch of numerous advanced products. A case in point here is recent FDA approval for a device by Teva. The company designed a smart inhaler named ProAir Digihaler. The sensor of this device helps in trackingits use in real-time.The data collected can be synced to a mobile app.Introduction of this new device by the firm is expected to contribute to the growth of the global smart inhalers market in the forthcoming period.
The competitive landscape of the global smart inhalers market is fairly fragmented. Presence of many well-established players signifies that the level of competition in this market is intense. To deal with this scenario, several vendors are chasing the strategies of collaborations and partnerships. Many of them are entering into mergers and acquisitions. All these activities are projected to drive the growth of the global smart inhalers market.
However, the smart inhalers market is witnessing some restrictions for growth owing to some reasons. Some of the reasons making the market growth somewhat sluggish are false impressionof information offered for the use of smart inhalers and limited number of smart inhalers available in the market. Besides,highly expensive nature of COPD and asthma treatment owing to their chronic nature is one of the key factors challenging the growth of the global smart inhalers market.
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Asia Pacific to Show Lucrative Avenues for Market Growth
North America and Europe are some of the prominent regionsin the smart inhalers market.These regions are known for generating huge amounts in revenues in earlier years. One of the key reasons behind market growth in these regions is increased adoption of advanced technologies in healthcare sectors.
Asia Pacific is projected to offer lucrative avenues for the growth of the global smart inhalers market in the upcoming period. Increased disposable income of major population in the region is allowing them to spend on advanced treatment options. Besides, increasing population and growing awareness about the advanced devices is further boosting the growth of the smart inhalers market.