(MENAFN- America News Hour) According to a recently published report by Research Nester on
“Global Smart Pediatric Inhalers Market Outlook: Industry Insights & Opportunity Assessment 2019–2027”
delivers detailed overview of the global
smart pediatric inhalers market
in terms of market segmentation by product, by indication, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
Smart inhalers are the devices that provide data wirelessly through cloud, internet or mobile applications. These devices track the usage of the dose as and when taken by the patients and also alert the patients through timely reminders. These smart inhalers are smart enough to remind the patients about when to take their medicine and track their dosage and can also warn them about avoiding polluted areas near them is estimated to boost the growth of the global smart pediatric inhalers market with a CAGR of 18% over the period 2019-2027.
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The global smart pediatric inhalers market is segmented by product, indication and end user. By indication, the asthma segment is anticipated to have a dominant market share owing to the fact that asthma is the most prevalent respiratory disease and is anticipated to increase with increasing pollution. The product segment is divided into Inhalers (sub- segmented into Dry Powder Inhalers (DPIs) and Metered Dose Inhalers (MDIs)) and Nebulizers). Indication segment is divided into Asthma and Chronic Obstructive Pulmonary Disease (COPD)). End user segment is divided into hospitals, clinics, pharmacy shops and others.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
Increasing Indoor and Outdoor pollution to Boost the Demand for Smart Pediatric Inhalers in Future
The global smart pediatric inhalers market is thriving on the back of increasing prevalence of respiratory diseases among pediatric population. Due to both indoor and outdoor pollution, the children are anticipated to gather respiratory problems quickly which will increase the demand for smart pediatric inhalers.
Launch of innovative applications-
With increasing prevalence of chronic respiratory diseases, the medicines manufacturers have launched innovative applications and wireless services to enhance drug delivery and patient compliance which will propel the demand for smart pediatric inhalers.
North America is expected to have leading market share owing to significant growth in tobacco smokers and continuous technological advancements by the players in the region. Europe is expected to grow substantially attributing to the increasing number of pediatric patients suffering from asthma and strategic collaboration between pharmaceutical and software companies to provide a smart inhaler system. Asia-Pacific is expected to be the fastest growing regional segment during the forecast period on the back of increasing geriatric patients suffering from chronic pulmonary illness
and upcoming players in the region who are giving tough competition to the major existing players.
Asthma and COPD are the most prevalent chronic respiratory diseases that occur among children and their treatment cost is high which can be difficult to afford by the low-income and middle-income families. As the smart inhalers are connected to the smartphones and other smart devices of the users, the personal data of the users can be misused or extracted from their devices without their permission. These factors will inhibit the growth of the smart pediatric inhalers.
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This report also provides the existing competitive scenario of some of the key players of the global
smart pediatric inhalers market
which includes company profiling of Amiko, Adherium, Cohero Health, 3M Healthcare, OPKO Health, Propeller Health, Philips Respironics, Sensirion AG, Teva Pharmaceutical Industries and Vectura Group.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart pediatric inhalers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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