Industrialization, air pollution and smoking has resulted in an indefinite increase in environmental pollution thereby giving birth to different respiratory ailments such as Chronic Obstructive Pulmonary Disease (COPD) and asthma. The global respiratory inhalers market is on high pace owing to rapid increase in respiratory diseases. Respiratory inhalers have been created to counter such respiratory disorders. They are medical devices which are used for helping patients experiencing breathing problems occurring from respiratory disorders such as ARDS (acute respiratory distress syndrome), COPD, asthma and fibrosis.
There are key drivers that is driving the growth of the respiratory inhalers market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include unhealthy lifestyle, increase in pollution, rising use of combination therapies owing to associated perks such as increased efficacy and easy reimbursement policies. However, there are some restraints that is restricting the growth of the respiratory inhalers market such as complications and side effects during inhalation, lack of accuracy and increasing prices of devices. The Global Respiratory Inhalers Market is anticipated to grow at a splendid 6.1% CAGR during the assessment period (2017-2023).
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.
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December 2018– ResMed, a leader in out-of-hospital SaaS (software-as-a-service) business solutions and cloud connected medical device, announced its partnership with Propeller Health, leading digital therapeutics company to acquire health solutions for people suffering from asthma and COPD. The objective of this partnership is to augment people’s quality of life, save healthcare costs and reduce the impact of the debilitating respiratory disorders.
May 2018– Propeller Health has joined hands with Aptar Pharma in order to make digital medicines. Aptar Pharma will connect the drug dispensation devices such as injections and inhalers with Propeller’s software through sensors that will assist patients to manage pain, opioid addiction and respiratory diseases better.
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.
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 – 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 – Regional Analysis
Respiratory Inhalers Market is segmented on the basis of geographies or regions which mainly includes North America, Europe, Asia Pacific, and Rest of the world.
Currently the largest market share of global respiratory inhalers market is captured by North America, majorly due to large population among adult and kids being diagnosed with the disease like asthma and COPD in the region. U.S. accounts for the largest market share of North America respiratory inhalers market. This large share is majorly due to, tobacco smoke which is a key factor in the development and progression of COPD. Apart from this, genetic factors and respiratory infections also play a role. COPD was considered the third leading cause of death in U.S. in 2014, with almost 6.4% of Americans diagnosed with the disease.
Europe, accounts for the second largest, in the global respiratory inhalers market, majorly due to companies or the key players present in the region such as, Novartis, AstraZeneca, and Boehringer Ingelheim. Adoption of respiratory inhalers by hospitals and patients in the European countries, and also due to continuous efforts made by European Academy of Allergy & Clinical Immunology to increase awareness about asthma and COPD the market for respiratory inhalers is expected to show grow in the coming future.
Asia-Pacific region is estimated to be the fastest growing market due to continuous developments in developing countries like India and China. Emerging economies are expected to account for the maximum cases of respiratory disorders, remains unnoticed. High prevalence of these disease due to tobacco smoke, exposure to air pollutants in the home and workplace, vehicular pollution, indoor air pollution from biological agents related to damp and mould further increases the risk of respiratory disease in children and adults in these countries.
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Moreover, significant growth in the digitally operated inhalers is observed in the countries like Australia and New Zealand. On the other hand, the Middle East & Africa have the least market share. Additionally, factors such as lack of awareness, low healthcare expenditures will restrain the market during the corresponding period.
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