RESPIRATORY INHALERS MARKET ANALYSIS

The high price of respiratory inhalers can hamper the global respiratory inhalers market growth. Respiratory diseases are highly prevalent across the world and cost of treatment has been rising constantly. According to the World Health Organization (WHO), approximately 265 million people suffer from asthma globally and it impacts the quality of life of patients and their families. However, high cost of inhalers makes it very difficult for many people to afford prescribed treatments on a regular basis. This is a major concern particularly in developing nations where a significant percentage of the population lacks health insurance or means to pay out of their pocket for expensive medications. For instance, preventer inhalers that are required to be taken daily cost upwards of US$ 100-150 per month in many countries. Similarly, reliever inhalers needed during asthma attacks can cost US$ 30-50 each time without insurance. This disproportionately burdens families with low income. As a result, many patients are either forced to abandon preventive treatments or rely only on cheaper options like oral medications. This leads to poor control of symptoms, increased risk of exacerbations, rise in emergency room visits and hospitalizations. According to a WHO report published in 2022, around 1.6 million annual emergency room visits and hospitalizations due to asthma in the U.S. could be avoided with good control through affordable preventive inhalers. The indirect economic burden due to lost work and wages has been estimated to be over US$ 50 billion annually in the U.S. High out-of-pocket costs discourage regular prescription fills that are crucial for effective long-term management of respiratory diseases.

Market Opportunities: Development of smart/digital inhalers

Smart/digital inhalers have the potential to revolutionize the respiratory inhalers market and significantly improve patient outcomes. Traditional inhalers are sometimes misused which can reduce their effectiveness. Smart inhalers address this issue by incorporating connected digital technologies that track usage and provide feedback to patients and doctors. These can sense when an inhaler is shaken, opened and closed and record how much medication was released. This data is sent via Bluetooth to a mobile app, allowing patients to better manage their condition and ensure proper administration of medications. It also provides physicians insights to see adherence rates and make more informed care decisions. Many major pharmaceutical companies are now investing heavily in the development of smart inhalers. For example, GSK partnered with the Adherium, a digital health company, to integrate the latter's SmartTurbo technology into GSK's Ellipta products. Clinical trials have found this digital Ellipta improved asthma control and led to 50% fewer severe exacerbations compared to the regular inhaler, as per data from National Institutes of Health in 2021. As the technology matures and more versatile products enter the market, smart inhalers have the potential to transform respiratory care from crisis management to prevention. Their connected functionalities could encourage greater accountability and long-term behavioral changes in patients. This is expected to significantly reduce healthcare costs associated with exacerbation treatment like emergency room visits and hospitalization.