The global Dry Powder Inhaler Market is expected to display higher growth rate in the upcoming period. Rapid surge in the market is credited to the prevalence of respiratory diseases such as chronic obstructive pulmonary diseases and asthma, and rising air pollution levels, particularly in developing economies across the globe. Rising efforts by local governments for improving existing healthcare infrastructure and growing awareness levels are expected to drive the growth of the market over the forecast period.
Rising demand and consumption of dry powder inhalers is credited to the surging per capita health care expenditure by regional governments across the globe. Growing preference towards self-administered drug therapies and home-based healthcare services are anticipated to fuel market demand for dry powder inhaler market over the forecast period. Globally, market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of dry powder inhalers.
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Growing consumption of nicotine and tobacco-based product is propelling sales of dry powder inhaler over the past few years. Development of inexpensive therapies associated with different respiratory diseases, and soaring demand for low-cost devices from developing & underdeveloped economies across the globe is further fostering market growth over the past few years.
Several healthcare facilities are allowing patient to share multi-use devices among multiple patient due to unaffordability. However, launch of single-use devices, which are highly cost efficient, has overcome these challenges and offer a hygienic & clean device to use. These factors are further complementing to sustained market growth over the past few years.
The dry powder inhaler market is broadly categorized into three major segments based on the product type such as capsule based dry powder inhaler device, blister based powder inhaler device, and reservoir/cartridge based powder inhaler device. Capsule based dry powder inhaler device segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of capsule based dry powder inhaler device segment is attributed to the increasing product penetration in newer market and cost-effectiveness.
The key players in the dry powder inhaler market are Mannkind Corp., Cipla Inc., Hovione FarmaCiencia S.A., GlaxoSmithKline plc, Meda Pharmaceuticals Inc., The 3M Company, AstraZeneca plc, Vectura Group plc, Teicos Pharma Ltd., and Teva Pharmaceutical Industries.
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The dry powder inhaler market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in medicine & pharmaceutical sector, surge in number of research & development activities and existence of well-established healthcare infrastructure in the region. In European region, Germany, France and United Kingdom are projected to witness steady growth over the past few years.
Asia-Pacific region is estimated to hold a major share in the market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising healthcare expenditure, increasing awareness level among general population, growing consumer base, and significant investment by leading industry players considering potential growth opportunities in the region.