Respiratory devices are medical devices are used to assist a patient encountering breathing problems resulting from respiratory disorders such as fibrosis, asthma, COPD and ARDS and others. On the basis of product type, the market has been segmented into dry powder inhaler (DPI), metered dose inhaler (MDI) and nebuliser. Nebuliser is further sub-segmented into compressed air nebuliser, ultrasonic nebuliser and mesh nebuliser.
Market Value and Forecast
In terms of value, the global respiratory inhaler devices market is estimated to expand at a CAGR of 4.3% during the forecast period. The global respiratory inhaler devices market value is expected to increase to US$ 43,214.0 Mn by 2025 end.
Growth of the global respiratory inhaler devices market is mainly driven by rising prevalence of asthma, chronic respiratory diseases, COPD and other respiratory diseases. However, lack of a single effective inhaler devices for all type of disease indication, side effects and complications during drug inhalation, lack of skilled pulmonologist, physicians and nurses, lack of awareness, coupled with high prices of inhaler devices are factors restraining market growth.
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Patients are shifting towards combined therapies due to associated benefits such as more reliable in complex patients, increased efficacy and easy reimbursement policies associated with therapy. Combination therapies cost more compared to conventional therapies for patients with complex indications of respiratory disease. Increase in usage of combination therapies such as triple combination therapy for COPD patients is expected to drive growth of the global respiratory inhaler devices market over the forecast period.
Market Segmentation By Product
On the basis of product type, the market has been segmented into dry powder inhaler, metered dose inhaler and nebuliser. In terms of value, the metered dose inhaler segment is estimated to account for over 69.9% share of the global respiratory inhaler devices market by 2015 end, and is expected to remain dominant during the forecast period.
Market Segmentation By Disease Indication
On the basis of disease indication, the market has been segmented into asthma, COPD, pulmonary arterial hypertension and other respiratory diseases. COPD is expected to be third leading cause of death and fifth leading cause of disability by 2020 end. Numerous health awareness programmes being conducted across the globe are expected to result in the COPD segment registering a higher CAGR of 4.8% over the forecast period.
Market Segmentation By Technology
On the basis of the technology, market has been segmented into manually operated inhaler devices and digitally operated inhaler devices. Digitally operated inhaler devices is expected to register a CAGR of 3.8% over the forecast period. Application of GPS and Bluetooth technology in inhaler devices is expected to drive demand for digitally operated inhaler devices over the forecast period.
The global respiratory inhaler devices market has been segmented into seven major regions namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa. In terms of value, North America is estimated to dominate the market with 40.0% share of the overall respiratory inhaler devices market by 2015 end. APEJ is estimated to be the fastest growing market, registering a CAGR of 5.0% in terms of value over the forecast period. Currently, metered dose inhaler is a major contributor in markets in Europe, North America and parts of Asia Pacific, while nebuliser segment is expected to exhibit a CAGR of 3.8% in terms of value during the forecast period.
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Some key players identified in the global respiratory inhaler devices market report include: AstraZeneca, Beximco Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, Cipla Ltd., GlaxoSmithKline plc, Koninklijke Philips N.V., Merck & Co., Inc., OMRON Healthcare Europe B.V., PARI Medical Holding and Teva Pharmaceutical Industries Ltd. These companies are focusing towards enhancing their product portfolio through the introduction of innovative and cost-effective products to strengthen position in the market in the long term.