The global respiratory inhaler devices market is expected to reach a market size of USD 52.43 Billion by 2027, and register a high CAGR during the forecast period, according to a new report by Reports and Data.
The respiratory inhaler devices market is driven by increase in the incidence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Players in the market are investing in the development of advanced portable inhalation devices that will also fuel growth of the market.
Respiratory diseases is among the leading cause of death and disability globally. According to the World Health Organization, around 65 million people suffer from chronic obstructive pulmonary disease, and 3 million die every year, making it the third leading cause of death.
Rise in trend of smart respiratory inhaler devices will drive growth of the market in the coming years. Smart inhaler devices are designed to connect with mobile application and help users to monitor dosage reminders and medication schedules. However, high cost of respiratory inhaler devices will hinder growth of the market.
The COVID-19 impact:The outbreak of the COVID-19 virus has resulted in a major demand for respiratory inhaler devices. Market growth has increased significantly in recent months as patients with respiratory diseases are more susceptible to COVID-19. The best way for people with asthma or COPD to reduce the risk of the coronavirus is to control their health condition and limit visits to the hospitals.
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Further key findings from the report suggest
- Dry powder inhalers are preferred over metered-dose inhaler (MDI) as it is much easier to use and causes few irritants. After the ban on inhalers using chlorofluorocarbons (CFC), market players have entered dry powder segment to provide wide range of products to patients suffering from respiratory problems.
- Rising adoption of digitally operated inhaler devices by market players to treat respiratory diseases and improve the efficacy of prescribed medicine is thereby driving growth of the segment.
- Chronic obstructive pulmonary disease (COPD) dominated the application segments in 2019 due to high number of active smokers globally and increase in geriatric population in many countries. Currently, there is no cure for the disease, but proper treatment can slow progression of the disease. Respiratory inhaler devices help patients suffering from COPD to breathe easier.
- North America accounted for the largest revenue share in the respiratory inhaler devices market in 2019. Robust presence of advanced research infrastructures in countries in the region and high adoption of smart inhalers is another factor supporting market growth.
- Key participants include AstraZeneca, Cipla Ltd., Merck & Co., Inc., GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Medisol Lifescience Pvt. Ltd., Koninklijke Philips N.V., Novartis AG, Philips Healthcare, and 3M.
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For the purpose of this report, Reports and Data has segmented the global respiratory inhaler devices market on the basis of product type, mode of operation, application, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Dry Powder Inhaler
- Metered Dose Inhaler
- Nebulizer
- Compressed Air Nebulizer
- Ultrasonic Nebulizer
- Mesh Nebulizer
Mode of Operation Outlook (Revenue, USD Billion; 2017-2027)
- Digitally Operated Inhaler Devices
- Manually Operated Inhaler Devices
Application Outlook (Revenue, USD Billion; 2017-2027)
- Chronic Obstructive Pulmonary Disease
- Asthma
- Pulmonary Arterial Hypertension
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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