Respiratory Inhaler Market: Approvals of various respiratory inhaler products in recent time is expected to flourish the market
The global respiratory inhaler devices market is slated to expand at a CAGR of 4.4% through 2030. Infectious respiratory ailments directly fuel demand for respiratory inhaler devices. COVID-19 has been the most recent and momentous of these ailments; the crisis has ensued in an upsurge in demand for ventilators and personal protection equipment, among others products.
“The demand for ventilators has upsurged due to the COVID-19 crisis, ensuing in industrial and governmental support for fueling the manufacturing pace. Thus, with the emphasis on respiratory care on account of the recent outbreak; the market is likely to reflect a healthy growth rate.” states the FMI analyst.
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- The U.S. remains one of the biggest region in the global market due to presence of majority of the device manufacturer in the region
- Dry powder inhalers product segment will account for 54% of the overall market share during 2020-2030.
- Manually operated inhaler devices is likely to hold 90% of the share in the global market.
- Asthma will continue to witness high demand, however, the COPD segment will grow at a rapid pace in the approaching years.
- Advancements in standard healthcare policies and growing focus towards creating accessible improved advanced treatment will generate lucrative growth prospects.
- High prevalence of respiratory diseases and growing aging population worldwide will be driving the growth in the market.
- Outbreak of COVID-19 has prompted a sudden rise in inhalers and other respiratory care devices, thus skyrocketing the market growth.
- Lack of awareness prompting huge undertreated and underdiagnosed population can challenge growth of the market to an extent.
- Harmful effects of definite respiratory care devices on neonates is likely to hinder market growth.
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COVID-19 Impact on Market
The respiratory inhaler devices market will witness a steady growth due to outbreak of COVID-19 pandemic. As the number of adults affected is higher than neonates and pediatric populations, the demand for treatment options for respiratory disorders skyrocketed amid the ongoing crisis. This further encouraged the demand for therapeutic respiratory care devices such as inhalers.
Players operating in the global respiratory inhaler devices market are focusing on strategic collaborations with digital and software service providers to fulfill the needs of a growing patient pool.
Some of the prominent companies functioning in the market include Beximco Pharmaceuticals Ltd., AstraZeneca, Cipla Ltd., Boehringer Ingelheim GmbH, Koninklijke Philips N.V., GlaxoSmithKline plc., OMRON Healthcare Europe B.V., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., and PARI Medical Holding.
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About the Study
The study offers readers a comprehensive assessment of the respiratory inhaler devices market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product (dry powder inhalers, metered dose inhalers, and nebulizers (compressed air nebulizers, ultrasonic nebulizers and mesh nebulizers)), technology (manually operated inhaler devices and digitally operated inhaler devices), disease indication (asthma, chronic obstructive pulmonary disease, pulmonary arterial hypertension and others) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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