The respiratory inhaler is a medical device used to aid a patient with breathing difficulties due to respiratory disorders such as asthma, COPD, fibrosis, ARDS, and others. Respiratory disorders have also been a big problem for drug manufacturers and medical practitioners. Over the past few decades, the prevalence of the respiratory disorder has increased enormously due to some of the causes for it, such as air pollution, smoking, industrialization, among others. Scientists have developed numerous medications and devices to combat these respiratory disorders.
As per Market Research Future (MRFR) analysis, for the respiratory inhaler Market is projected to reach USD 33,572.9 million with a CAGR of about 6.1% from 2017 to 2023 (forecast period).
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Market Dynamics
Growing cases of respiratory disorders such as asthma and chronic obstructive disease across the globe are expected to fuel the demand for respiratory inhalers. According to the World Health Organization (WHO) study, around 383,000 people died of asthma in 2015. That figure clearly shows an increase in asthma cases, which will enable producers of respiratory inhalers to increase their production rate to meet growing demand. Apart from this, the rise in air pollution levels worldwide due to wild forest fires, a growing number of vehicles, and a rising number of factories are expected to help the respiratory inhaler market move up the growth ladder.
Constant innovation of the respiratory inhaler and the use of a medication sensor that finds a way to transmit information directly to a smart computer, such as a laptop or smartphone, is likely to attract people because of its ease. This technological innovation is expected to have a positive impact on the global demand for respiratory inhalers in the coming years. Numerous initiatives undertaken by the Government of different countries to prevent respiratory diseases by raising understanding of the symptoms and the availability of new treatments are expected to help the market develop rapidly.
On the other hand, lack of awareness of device use, along with administration protocols, is projected to pull the demand down drastically. In addition, high inhaler prices are perceived to be another factor for the industry to see a downturn in the coming years.
Segmentation
The market for respiratory inhalers has been segmented on the basis of type, product, application, and end-user.
Based on type, the market for respiratory inhalers has been segmented into manually operated and digitally operated. In 2016, manually operated inhalers registered for the largest market share of the total market.
Based on product, the market for respiratory inhalers is segmented into dry powder inhaler, metered-dose inhaler, and others. Dry powder inhalers registered for the largest market share in 2016.
Based on application, the market for respiratory inhalers is segmented into asthma, COPD, and other. The asthma segment accounted for the largest market share of the total market in 2016.
On the basis of end-user, the market is segmented into hospitals & clinics, respiratory care centers, and others. Hospitals & clinics dominated the global market for respiratory inhalers, with the largest market share of the total market in 2016.
Regional Analysis
The market for respiratory inhalers is segmented into North America, Europe, the Asia Pacific, and the Middle East & Africa.
North America is the biggest market for Respiratory Inhalers, accounting for 35.1% of the overall demand. This significant proportion is largely due to tobacco smoke, which is a crucial factor in the growth and advancement of COPD. COPD was the third leading cause of death in the U.S. in 2014, with about 6.4% of Americans diagnosed with the disease. Presently, most inhalers are sold in North America with much less feedback from other areas. The North American market is forecast to hit $11,949.4 million by 2023.
Europe is the second-largest market, mainly due to companies or key players in the region, such as Novartis, AstraZeneca, and Boehringer Ingelheim. The adoption of respiratory inhalers by hospitals and patients in European countries, as well as the ongoing efforts of the European Academy of Allergy & Clinical Immunology to raise awareness of asthma and COPD, is expected to expand the demand for respiratory inhalers in the future. It is projected that the European market will hit 11,425.7 million by 2023.
Moreover, the Asia Pacific market is projected to be the fastest-growing market for respiratory inhalers due to continuous developments in emerging economies such as India and China. Emerging economies are estimated to witness for maximum cases of respiratory disorders and remain unnoticed. In addition, there is a significant increase in digitally operated inhalers in countries such as Australia and New Zealand. The Asia Pacific region is projected to rise at 6.7?GR during the forecast period.
The Middle East & Africa, on the other hand, contributed the least to the global market with just 9.2% of the share. The Middle East and Africa regions are projected to have limited but steady growth.
Key Players
Some of the major participants in the market for respiratory inhalers are AstraZeneca, Adherium Limited, Boehringer Ingelheim GmbH, Chiesi Farmaceutici S.p.A., Propeller Health, GSK plc, and Teva Pharmaceutical Industries Ltd.
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