Market Research Future has released a new report on the Global Respiratory Inhaler Market which reveals a notable CAGR of 6.1% during the forecast period of 2017 to 2023 with an estimated value of $33,572.9 million by the end of 2023.
Respiratory Inhalers are medical devices that are used to assist a patient encountering breathing problems resulting from respiratory disorders such as fibrosis, asthma, COPD and ARDS and others. There are some major drivers, driving the market growth such as rising prevalence of respiratory disorders due to increase pollution and unhealthy lifestyle, increasing usage of combination therapies due to associated benefits such as more reliable in complex patients, increased efficacy and easy reimbursement policies associated with them and others. Various restraints, which are restricting the market growth includes side effects and complications during inhalation, high prices of devices, and lack of accuracy etc.
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It is observed during recent years that patients are shifting towards combined therapies such as bronchodilator therapy for the treatment of COPD and various others, due to accompanying benefits such as more reliable in complex patients, increased efficacy and easy reimbursement policies linked with therapy. It is also observed that these combination therapies are more affective for long term control of COPD and other respiratory diseases. These therapies cost more compared to conventional therapies for patients with complex signs of respiratory disease or disorders. Increase in usage of combination therapies such as triple combination therapy for COPD patients is expected to drive the growth of the global respiratory inhaler devices market in coming years.
Global Respiratory Inhaler Market – Key Players
The major participants of this market are
- Adherium limited
- Boehringer Ingelheim GmbH
- Chiesi Farmaceutici S.p.A. GSK plc.
- Propeller Health
- Teva Pharmaceutical Industries Ltd.
Global Respiratory Inhaler Market – Segmentation
Respiratory Inhalers Market has been segmented on the basis of type which comprises of manually operated, digitally operated. Manually operated inhalers accounted for the largest market share of the total market in 2016. On the basis of product, the market is segmented into dry powder inhaler, metered dose inhaler, and others. Dry powder inhalers accounted for the largest market share in 2016. On the basis of application, market is segmented into asthma, COPD, and other. Asthma segment accounted for the largest market share of the total market in 2016. On the basis of end user, market is segmented into hospitals & clinics, respiratory care center, and other. Hospitals & clinics dominated the global market with the largest market share of the total market in 2016.
Global Respiratory Inhaler Market – Key Finding
- The Respiratory Inhalers Market and is expected to reach $33,572.9 million by 2023.
- Manually Operated Inhalers holds the largest share of 89.9% of the market.
- North America holds the largest market share of respiratory Inhalers market and is anticipated to reach $11,949.4 million by the end of forecast period.
- Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 6.7% during the forecast period.
Global Respiratory Inhaler Market – Regional Analysis
Depending on geographic region, Respiratory Inhaler market is segmented into four key regions: North America, Europe, Asia Pacific, and Middle East & Africa. Globally North America is the largest market for Respiratory Inhalers. The North America market for Respiratory Inhalers is expected to reach at USD 11,949.4 million by the end of the forecasted period. Europe is the second-largest market for respiratory inhalers which is expected to grow at a CAGR of 6.4%. Asia pacific region is expected to be fastest growing region in respiratory Inhaler market. Middle East & Africa is expected to have limited but steady growth in the market.
Global Respiratory Inhalers Market – Competitive Analysis
February, 2017 – Adherium’s partnering and market expansion for the ‘Rest of World’ territories, including countries in Asia Pacific and the Middle East where Adherium already has sanctions to market its Smart inhaler products in China, Australia and New Zealand. This has increased the company’s strength in these countries.
January, 2017 – AstraZeneca had announced that on 25 January 2017 the US Food and Drug Administration (FDA) granted six months of paediatric exclusivity for Symbicort (budesonide/formoterol) Inhalation Aerosol. Symbicort is approved in the US to treat asthma in patients 12 years and older and for the maintenance and treatment of COPD in adults, the company is expecting larger market share with the product launch.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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