World News: 16:23 GMT Monday 11th February 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering. The global smart inhalers market was valued at US$ 1,006.6 Mn in 2017 and is expected to reach US$ 3,674.6 Mn by 2026, expanding at a CAGR of 15.7% from 2018 to 2026.Metered dose inhalers (MDIs) are the leading type segment for smart inhalers market. Excellent PK/PD profile achieved during the drug delivery and increasing demand in geriatric patients suffering from chronic illness drive the metered dose inhalers market growth. Dry powder inhalers have gained tremendous attraction in recent times due to the drug irritation and severe adverse effects caused by the propellants employed in MDIs. Nebulizers are widely employed in pediatric patients due to higher safety and efficacy associated with the drug delivery system.Chronic obstructive pulmonary disease is currently leading the application segment for smart inhalers market. The rampant growth of smokers in developed countries and rising industrialization in developing nation has led to the rise of air pollution and exposure to occupational dust and fumes. Asthma will be the fastest growing market in the near future due to the rising prevalence of hereditary asthma in children and requires immediate symptomatic relief due to constriction of respiratory muscles.In the present scenario, North America with a share of 38% is leading the regional segment for smart inhalers market. The key features that contribute towards its supremacy are rampant growth in tobacco smokers and domicile of major players such as Propeller Health, Cohero Health, 3M Healthcare etc. Europe accounts for 29% market share, on account of the increasing number of pediatric patients suffering from asthma and strategic collaboration between pharmaceutical giants and software companies to provide a smart inhaler system. The Asia Pacific with a market share of 20% will be the fastest growing regional segment during the forecast period on account of increasing geriatric patients suffering from chronic pulmonary illness and emergence of local players exerting stringent competition to western giants in smart inhalers market.
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Related Topics: Inhalers and Nebulisers, Respiratory Devices
Globe Newswire: 16:23 GMT Monday 11th February 2019
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