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01-Apr-2019

Global Respiratory Inhaler Market Trends Outlook Expected To Register a CAGR of 4.2% 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 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.

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. Patent expiration of major brands and increasing number of generic approvals are major factor restraining growth of the global respiratory inhaler market

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However, technological advancements and innovations focusing on development of effective drug delivery device which can reduce adverse drug effect is expected to create new opportunities for major players in the global respiratory inhaler market over the forecast period.

The global respiratory inhaler market report has been segmented on the basis of product type, application, technology, and region. On the basis of region, the global respiratory inhaler market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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.

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.

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.

North America market dominates the global respiratory inhaler market in terms of revenue contribution as compared to that of markets in other regions. Europe accounts for second-largest revenue share contribution to the global respiratory inhaler market, followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years, owing to increasing prevalence of respiratory diseases in the regions.

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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.

Some prominent players in the global respiratory inhalers market are AstraZeneca Plc., Beximco Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, Cipla Ltd., GlaxoSmithKline Plc., Koninklijke Philips N.V., Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Omron Healthcare Europe B.V., PARI Medical Holding, and H&T PRESSPART

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Last Updated: 01-Apr-2019