The global market for smart inhalers was valued at $REDACTED million in 2018. The market is expected to grow at a compound annual growth rate (CAGR) of REDACTED% to reach approximately $REDACTED million by 2024. The global market’s growth is attributed to factors such as the growing prevalence of respiratory diseases, a rise in the world’s geriatric population, growing collaboration between pharma and digital health companies and improved technology leading to the development of smart inhalers.

According to the WHO, around REDACTED million people have moderate to severe COPD, and approximately REDACTED million of these people die every year, which make COPD the third leading cause of death worldwide. Inaddition, it is estimated that over REDACTED million people worldwide have asthma, including over REDACTED% of children globally. Thus, an increase in the number of patients suffering from asthma and COPD is likely to drive the smart inhalers market during the forecast period.

Due to this alarming rise in the prevalence of respiratory disorders, the market is witnessing digital partnerships between software and pharma companies that are formed to offer technologically advanced smart inhalers. Various companies are stepping into the market to implement digital technology that can be further used to enhance respiratory disease management.