Respiratory Inhaler Market By Type (Dry Powder Inhalers, Metered Dose Inhalers, Nebulizers) By Application (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension, Cystic Fibrosis) and By Region - Global Forecast To 2026
13 February 2018
The global respiratory inhaler market was valued at US$ 27,779.9 million in 2017, and is expected to register a CAGR of over 4%. The report offers in-depth insights, revenue details, and other vital information regarding the global respiratory inhaler market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report also offers insightful and detailed information regarding the various key players operating in the global respiratory inhaler market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global respiratory inhaler market is segmented on the basis of product type, application, technology, and region.
Respiratory inhaler is small, handheld devices used for consuming medicines through inhaling. It is used in treatment of asthma, chronic obstructive pulmonary disease, pulmonary arterial hypertension, and cystic fibrosis. Product types of respiratory inhaler includes dry powder inhalers, metered dose inhalers, and nebulizers.
Global Respiratory Inhaler Market Dynamics:
Increasing prevalence of respiratory diseases such as asthma and chronic obstructive across the globe is expected to drive the respiratory inhaler market. For instance, according to WHO data in 2015, there were 383,000 deaths caused due to asthma. In addition, increasing in air pollution, technological advancements, increasing number of product approvals for respiratory inhalers are other factor expected to boost the market growth over the forecast period.
Continuous innovation of respiratory inhaler and use of medication sensor that automatically sends data to mobile app or PC, thus this advance technology in inhalers is expected to create positive impact on the market growth over the forecast period.
Initiative taken by various government for prevention of respiratory diseases is other factor contributing to the growth of the market. For instance, in Australia, the new National Asthma Strategy for 2018 was launched on the 31st January, 2018 by Federal Health Minister for reducing the impact of asthma on individuals, the community and the economy.
However, lack of knowledge of device use and administration protocols are primary factors expected to hamper growth of the global respiratory inhaler market. In addition, high cost of inhaler is another factor limiting the market growth.
Company can manufacturer inhalers using Bluetooth technology which detect inhaler use, reminds patients for the intake of the medicine and gather data which improves effectiveness of the prescribed medications as compared to other inhaler. The digital technology designed to improve the management of lung diseases such as asthma and COPD, represents significant opportunities for manufacturers operating in the global respiratory inhalers market.
Market analysis by product type:
On the basis of product type segmentation, metered dose inhalers segment is expected to account for significantly higher revenue contribution to the global respiratory inhaler market during the forecast period, as compared to the product type segment. Moreover, it is anticipated to expand with the highest CAGR of over 4.0%, as compared to all other product type segments over the forecast period.
Market analysis by application:
Among the application segments, chronic obstructive pulmonary disease segment is expected to register highest CAGR of over 4.5% owing to its high prevalence of the disease. For instance, according to Global Burden of Disease Study reports, in 2016 prevalence of 251 million cases of COPD globally. The asthma segment is expected to account for second-highest revenue share in the application segment of the global respiratory inhaler market.
Market analysis by technology:
Among all the application segments, manual segment is expected to account for significantly higher revenue contribution to the global respiratory inhaler market during the forecast period, as compared to the digital segment.
Market analysis by region:
North America market is expected to dominate the global respiratory inhaler market, and it accounts for largest market revenue share of 34.3% in 2020 as compared to that of markets in other regions. Dominance by North America market is expected to continue over the forecast period with comparatively moderate CAGR than that of other regions, owing to higher prevalence of the disease among consumers in countries in the region. Other factors include, presence of leading respiratory inhaler manufacturers in these countries in this region.
Furthermore, increasing number of approvals by health authorities such as US FDA, and Health Canada for respiratory inhalers and subsequent launch of these product is major factor fueling growth to the North America respiratory inhaler market and this trend is expected to continue in the future. For instance, in April, 2016, AstraZeneca received US FDA approval for Bevespi Aerosphere (glycopyrrolate and formoterol fumarate), an inhalation aerosol indicated for the treatment of COPD. It is the first product approved using AstraZeneca’s Co-Suspension Technology. It prevents sedimentation of drug crystals over period of time. In addition, it prevents drug crystals from interacting with one another which in turn permits consistent dosing of one or more different drugs from a single pressurized metered-dose inhaler.
In 2017, Europe accounted for the second largest revenue share contribution to the global respiratory inhaler market, owing to increasing to prevalence of respiratory diseases in the region. According to European COPD Coalition, 1.5% of total population of UK are currently diagnosed with chronic obstructive pulmonary diseases. According to British Lung Foundation in 2011, 1.2 Million people are living with diagnosed COPD in UK. It is stated that COPD is the second most common lung disease after asthma in UK.
Asia Pacific is expected to witness rapid growth over the forecast period owing the growing aging population, rising healthcare spending, and awareness regarding the disease in the region.
The respiratory inhalers industry is highly fragmented with the presence of several players across the world thus making the market competitive. New product development, increasing number of product approvals from health authorities and subsequent product launches are the key strategies being adopted by the companies in order to strengthen their market position. In 2017, for instance Teva Pharmaceutical Industries Limited announced that UD FDA approved two new products for adult patients with asthma and adolescent. The products naming AirDuo RespiClick and ArmonAir RespiClick these medicines are delivered through Teva’s RespiClick.
Global respiratory inhaler segmentation, by product type:
- Dry Powder Inhalers
- Single Unit Dose
- Multi-Unit Dose
- Metered Dose Inhalers
Global respiratory inhaler segmentation, by application:
- Chronic Obstructive Pulmonary Disease
- Pulmonary Arterial Hypertension
- Cystic Fibrosis
Global respiratory inhaler segmentation, by technology:
Global respiratory inhaler segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Dry Powder Inhalers
- AstraZeneca Plc.
- Beximco Pharmaceuticals Ltd.
- Boehringer Ingelheim GmbH
- Cipla Inc.
- GlaxoSmithKline Plc
- Koninklijke Philips N.V.
- Merck & Company, Inc
- Teva Pharmaceutical Industries Ltd
- OMRON Healthcare Europe B.V.
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Product Type
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Technology
- 2.2.4 Market Snapshot, By Region
- 2.2.5 Opportunity Map Analysis
- 3.1 Global Respiratory Inhaler Market Dynamics
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