GLOBAL INHALABLE DRUGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global Inhalable Drugs Market Size and Trends

Global inhalable drugs market size is expected to reach US$ 56.68 Bn by 2030, from US$ 34.86 Bn in 2023, exhibiting a CAGR of 7.2% during the forecast period.

Global Inhalable Drugs Market- Trends

• Adoption of smart inhalers: The use of smart inhalers is growing significantly worldwide as they provide better management of respiratory diseases like asthma and COPD. Smart inhalers contain digital sensors that can track medication use and send data to the patient’s smartphone via an app. This allows doctors to remotely monitor patients and ensure that they are using their inhalers correctly and regularly as prescribed. It gives patients real-time feedback to prevent attacks and manage their condition better.
• The digitally connected nature of smart inhalers is revolutionizing how inhalable drugs are prescribed and consumed. Doctors can make timely interventions that are based on usage data to reduce exacerbations and hospitalizations for patients. Pharmaceutical companies are also able to gather valuable insights into medication adherence patterns. This enables them to engage better with patients through apps and customize treatment plans. Over time, widespread adoption of smart inhalers could see a transition towards more digital therapeutics that leverages comprehensive data on symptoms and lifestyle factors.

• Growing preference for digital health solutions: Global inhalable drugs market is witnessing a growing preference for digital health solutions which can provide significant opportunities for growth. With the COVID-19 pandemic accelerating the adoption of telehealth and remote patient monitoring solutions, more patients are comfortable with using digital platforms to manage chronic conditions like asthma and COPD. This trend is expected to continue even in the post-pandemic era as people have realized the advantages of convenience, low costs, and reduced risk of infections that are associated with digital healthcare
• Vendors in the inhalable drugs market are developing various digital solutions to engage with patients in a more effective way. They are integrating inhaler sensors and mobile apps that can track medication adherence, monitor symptoms remotely, and alert caregivers in case of emergencies. For example, Propeller Health’s smart inhaler sensors paired with a digital platform allows doctors to download usage data and customize treatment plans in real-time for better management of respiratory diseases. Such solutions ensure patients in facing no disruption in care while maintaining social distancing and help providers proactively in addressing non-adherence issues.