Seattle, Washington Nov 15, 2019 (Issuewire.com) - The global respiratory inhalers market, by Product Type (Nebulizers (Compressed Air Nebulizer, Mesh Nebulizer, and Ultrasonic Nebulizer) and Inhalers (Metered Dose Inhalers and Dry Powder Inhalers (Single Unit Dose Inhaler, Multi-unit Dose Inhaler, and Multi-Dose Inhalers)), by Technology (Digital and Manual), By Therapeutic Application (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension, and Cystic Fibrosis), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 30,639.9 million in 2018, and is expected to exhibit a CAGR of 5.7% over the forecast period (2019–2027), as highlighted in a new report published by Coherent Market Insights.
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Manufacturers are focusing on developing innovative respiratory inhalers at a lower cost, due to increasing economic burden for treatment of the chronic respiratory diseases (which require long term treatment). For instance, in April 2016, manufacturers such as 3M launched ‘Intelligent Control Inhaler’, a fully-integrated device that delivers accurate dose to patients, providing on-screen instructions for use and also provide feedback to the patient and health care provider through a smartphone app.
Manufacturers are also focused on getting product approvals for their product, this is expected to drive the global respiratory inhalers market growth. For instance, in October 2017, United Therapeutics Corporation received the U.S. Food and Drug Administration (FDA) approval for a new inhalation device TD-300/A for Tyvaso (treprostinil) inhalation solution to treat patients with pulmonary arterial hypertension. The device aid patient compliance and provides ease of use.
Increasing technological advancement and innovations by manufacturers to offer reusable inhalers, as the initiation for reducing plastic waste in pharmaceutical industries is expected to spur demand for reusable (multiple uses) respiratory inhalers and boost global respiratory inhalers market growth over the forecast period. For instance, in September 2019, Boehringer Ingelheim launched reusable, propellant-free inhaler for the treatment of asthma and COPD, with National Health Service (NHS) plan that aims to reduce carbon footprint and plastic waste. These propellant-free inhalers can be used with six refill cartridges.
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Increasing prevalence of asthma in the U.S. is expected to boost respiratory inhalers market growth in North America. For instance, according to the Center for Disease Control and Prevention (CDC), in 2015, 25 million people in the U.S. suffered from asthma, among which 6.2 million peoples aged ≤18 years. Each year asthma accounts for 14.2 million physician office visits, and 1.8 million emergency visits. Such increasing prevalence is expected to raise demand for respiratory inhalers such as asthma pumps, which is expected to drive respiratory inhalers market growth in North America region over the forecast period.
Browse 34 Market Data Tables and 25 Figures spread through 167 Pages and in-depth TOC on The Global Respiratory Inhalers Market, by Product Type ((Nebulizers: Compressed Air Nebulizer, Mesh Nebulizer, and Ultrasonic Nebulizer), (Inhalers: Metered Dose Inhaler and Dry Powder Inhaler: Single Unit Dose Inhaler, Multi-Unit Dose Inhaler, and Multi-Dose inhalers) by Technology (Digital and Manual), by Therapeutic Application (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension and Cystic Fibrosis), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027
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Key takeaways:
- The global respiratory inhalers market is expected to expand at a CAGR of 5.7% during the forecast period (2019–2027) owing to increasing product launch, and product approval for treatment of respiratory diseases.
- North America is expected to hold a dominant position in the market over the forecast period, owing to the increasing prevalence of respiratory diseases such as asthma, emphysema and chronic bronchitis. For instance, according to asthma and allergy foundation of America in 2017, every 1 in 12 children had diagnosed asthma.
- Increasing product launches of respiratory inhalers in the Asia Pacific region is also expected to drive the respiratory inhalers market growth in Asia Pacific region. For instance, in June 2019 AstraZeneca, received approval for its product Bevespi Aerosphere (glycopyrronium/formoterol fumarate) from Japanese Ministry of Health, Labour and Welfare for patients with chronic obstructive pulmonary disease (COPD).
- Some of the major players involved in global respiratory inhalers market include AstraZeneca Plc., 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, Teva Pharmaceutical Industries Ltd, and H&T Presspart.
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