Respiratory Inhaler Market is Reckoned to Rise by 4% CAGR Forecast By 2026
The global respiratory inhaler market is estimated to be valued at US$ 27,779.9 million in 2017, and is expected to register a CAGR of 4.2%. 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 a device that holds medicine and can be taken by breathing, medicine goes straight into the airways when it is inhaled. It has an advantage over oral route of medicine such as tablets, capsules as smaller dose can be given through inhalers which reduces side effect of medicine. Furthermore, inhalers are safe and effective and provide excellent control. Moreover, it provides good delivery of drug and hence it is considered as best treatment in management of bronchial asthma. Respiratory inhaler is most commonly used to treat pulmonary disease (COPD).
Increase in air pollution affecting respiratory health globally is a major factors contributing to growth of the global respiratory inhaler market. In addition, increase in prevalence of asthma, chronic obstructive respiratory disease and other respiratory diseases contributing to growth of the global respiratory inhaler market. Moreover, rising awareness about respiratory disease globally, coupled with several governments and non-profit organizations providing education and support services, is anticipated to further drive growth of the global respiratory inhaler market over the forecast period.
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:
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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. 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.
Key Players: 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.