Smart Inhalers Market Size Worth USD 4725.69 Million by 2025 at 4.2% CAGR | Growing Incidence of Chronic Respiratory Diseases to Boost Global Industry, Says Market Research Future (MRFR)

By Globe Newswire9 days ago

Pune, India, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Smart Inhalers Market Overview:

Market Research Future (MRFR) evaluates that the Global Smart Inhalers Market is anticipated to acquire a market value of USD 4725.69 million while expanding at a CAGR of 45.06% by 2025, The inhalers are called smart inhalers owing to the presence of sensors clipped on them which monitor the right dose.

The increasing incidence of chronic respiratory diseases and asthma are expected to play a significant role in driving the global smart inhalers market during the assessment tenure. The rising geriatric population across the globe is likely to fuel the demand for the product, thereby benefitting the industry in the forthcoming period. The growing burden on healthcare management and the increasing adoption of digital pharmaceutical companies by key players are anticipated to boost the demand for the product, which can enhance the market revenue in the analysis timeframe. In addition, the growing awareness about the smart inhalers market over conventional inhalers is expected to grow the market during the forecast period. On the contrary, the high costs involved in the treatment of COPD and asthma can inhibit the market growth. The limited availability of smart inhalers and the misinterpretation of information are predicted to challenge the market growth. In addition to it, the presence of substitutes for smart inhalers can hamper the market growth. The dearth of awareness among the population of developing economies regarding the usage of digital inhalers is predicted to further inhibit the industrial expansion during the analysis timeframe.

Market Segmentation:

The segmental analysis of the global smart inhalers market is done by type, application, and end-user. In the type segment of the global smart inhalers market, the metered-dose inhaler (MDI) based segment is anticipated to dominate the global market during the forecast period. The segment is likely to offer various market opportunities due to the rising R&D activities by key players. In the application segment of the global smart inhalers market, the asthma segment is predicted to acquire the maximum market share during the review period.

The increasing cases of asthma among the rising population are expected to be a salient cause giving rise to the segment. The COPD segment is projected to witness lucrative growth across the analysis timeframe. The increasing incidence of COPD across various economies of the world is likely to contribute to the expansion of the segment. The growing adoption of smart inhalers for the regular monitoring ...

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