Respiratory Inhalers Market Business Competitors, Manufacturers, Revenue, Evolving Technology, Trends And Industry Analysis By 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. Globally the Market for Respiratory Inhaler is expected to grow at the rate of about 6.1% from 2017 to 2023.
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
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 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.
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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