Market Challenges And Opportunities

However, factors such as misuse of data and breach of data privacy and lack of awareness and high cost of smart inhalers are expected to hamper the market growth.

Growing geriatric population to underpin market growth

Another factor which is driving growth of the global smart inhalers market is the growing geriatric (aging) population around the world. For instance, the prevalence of COPD is two to three times higher in people over the age of 60 years than in younger age groups. Moreover, elderly asthmatics are at a higher risk for morbidity and mortality from their asthma than younger patients. According to the Asthma and Allergy Foundation of America, asthma is common in adults ages 65 and older, around 7.8% of older adults in the United States have asthma. That is about the same as the number of people in the general population who have asthma.

Global Smart Inhalers Market Opportunities:

Increasing demand for smart inhalers or growing adoption of smart inhalers is expected to provide significant growth opportunities for players in the global smart inhalers market. For instance, with the rise in burden of respiratory disorders and increase in awareness among people about benefits of smart inhalers is also increasing rapidly. In April 2022, GSK launched Trelegy Ellipta, a single-inhaler triple therapy (SITT) in India for COPD patients in a once-daily regime. Trelegy provides accurate dosing through its consistent dose delivery mechanism and is associated with less inhaler teaching time compared to other commonly used inhalers.

The outbreak of COVID-19 across the globe is expected to offer lucrative growth opportunities for players in the global smart inhalers market. For instance, the pandemic had a positive impact on the market as patients with COPD and asthma are at increased/high risk of hospitalization from COVID-19. Thus, with increasing cases of COVID-19 and rise in burden of respiratory disorders, the demand for or adoption of smart inhalers is also increasing. In February 2022, Aptar Pharma launched Hero Tracker Sense, a novel digital respiratory health solution that transforms a standard metered dose inhaler into a smart connected healthcare device.

Global Smart Inhalers Market Restraints:

Data misuse of and data breach to market growth

One of the key factors expected to hamper the growth of the global smart inhalers market is the misuse of data and breach of data privacy. As smart inhalers are wirelessly connected and track patient's data, the risk of data breach and misuse of the data is high. As per the research by Bespak, drug delivery device specialist, more than 50% of the patients were reluctant to use smart inhalers due to their concerns related to data breach. Thus, companies collecting the user data must consider and pay attention to the security of personal information.

Lack of awareness among people to hamper market growth

Another factor which is hampering the growth of the smart inhalers market is the lack of awareness among people about the benefits of smart inhalers. In several parts of the world, the understanding of the symptoms of COPD and asthma is less due to which the need for such devices will also be less. Less awareness also lead to or decrease in demand or sales of these devices. Moreover, people are reluctant to use smart inhalers due to their concerns related to data breach and the high cost of smart inhalers. This in turn is restraining the growth of the market.