Industrialization, air pollution and smoking has resulted in an indefinite increase in environmental pollution thereby giving birth to different respiratory ailments such as Chronic Obstructive Pulmonary Disease (COPD) and asthma. The global respiratory inhalers market is on high pace owing to rapid increase in respiratory diseases. Respiratory inhalers have been created to counter such respiratory disorders. They are medical devices which are used for helping patients experiencing breathing problems occurring from respiratory disorders such as ARDS (acute respiratory distress syndrome), COPD, asthma and fibrosis.
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There are key drivers that is driving the growth of the Respiratory Inhalers Market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include unhealthy lifestyle, increase in pollution, rising use of combination therapies owing to associated perks such as increased efficacy and easy reimbursement policies. However, there are some restraints that is restricting the growth of the respiratory inhalers market such as complications and side effects during inhalation, lack of accuracy and increasing prices of devices. The global respiratory inhalers market is anticipated to grow at a splendid 6.1% CAGR during the assessment period (2017-2023).
Key Players :
Teva Pharmaceutical Industries Ltd, Propeller Health, GSK plc, ChiesiFarmaceuti S.p.A., Boehringer Ingelheim GmbH, AstraZeneca and Adherium limited.
In MFRF’s report, the global Respiratory Inhalers MarketIs segmented on the basis of type, product, application and end-user.
Based on type, it is segmented into digitally operated and manually operated. Of these, the manually operated inhalers have the maximum market share.
Based on product, the respiratory inhalers market is segmented into metered dose inhaler and dry powder inhaler. Of these, the dry powder inhaler holds the highest market share.
Based on application, it is segmented into COPD and asthma. Of these, asthma holds the largest share in the market.
Based on end user, the respiratory inhalers market is segmented into respiratory care center and hospitals and clinics. Of these, hospitals and clinics accounts for the maximum market share.
Based on region, the global respiratory inhalers market covers growth opportunities and latest trends across North America, Europe, Asia-Pacific and Middle East & Africa. Of these, North America is expected to spearhead the global respiratory inhalers market and is likely to grow substantially at 35.1% CAGR. The key factor here can be linked to smoking that is causing COPD. Europe stands next to North America and has the second largest share in the market owing to the key players being present in the region.
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Moreover, adoption of respiratory inhalers by patients and hospitals in the different European countries coupled with constant efforts being taken by the European Academy of Allergy & Clinical Immunology to boost awareness regarding COPD and asthma is likely to show some favorable growth in the respiratory inhalers market in the near future. The Asia Pacific market is predicted to be the fastest growing respiratory inhalers market owing to constant developments taking place in the developing countries such as China and India. This region is likely to grow at 6.7% CAGR over the predicted years. Middle East & Africa on the other hand contributed a minimum and is likely to see a limited yet steady growth.