According to the WHO, more than 300 million people are affected by asthma worldwide, with COPD accounting for more than 200 million. The growing prevalence of respiratory conditions such as asthma and COPD is likely to be the prime driver for the global respiratory inhalers market over the forecast period. Rising pollution levels and industrialization in urban areas around the world has been a major factor for the growing prevalence of such diseases. The increasing rate of urbanization in developing countries is likely to further drive the importance of this factor over the forecast period, as the rising number of urban residents will not only lead to a rise in the levels of vehicular pollution, but also lead to a rise in the volume of industrial activities to keep up with the growing economy.
The Global Respiratory Inhalers Market Size is Projected to grow at a CAGR of 6.1% over the forecast period from 2017 to 2023, according Market Research Future (MRFR). The global respiratory inhalers market is likely to be driven by the growing prevalence of respiratory conditions such as asthma and chronic obstructive pulmonary disorder (COPD), along with the growing demand for technological innovation to make the operation of inhalers smoother and more precise.
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The growing prevalence of smoking is also likely to be a major driver for the global prevalence of asthma and other respiratory diseases, thus driving the global respiratory inhalers market at a stable growth rate over the forecast period.
Respiratory Inhalers Market Competitive Analysis:
Leading players in the global respiratory inhalers industry include Adherium Limited, Boehringer Ingelheim GmbH, GSK plc, Teva Pharmaceutical Industries Ltd., Propeller Health, Chiesi Farmaceutici S.p.A., and AstraZeneca.
Respiratory Inhalers Market Segmentation:
The global respiratory inhalers market is segmented based on operation, product type, application, end use, and region.
The respiratory Inhalers market has been segmented based on operation into manually operated and digitally operated respiratory inhalers. Manually operated inhalers accounted for a dominant market share of close to 90% in 2016, dwarfing the demand for digitally operated respiratory inhalers primarily due to the higher costs of the latter.
Based on product, the respiratory inhalers market is segmented into dry powder inhaler, metered dose inhaler, and others. Dry powder inhalers accounted for the largest market share in 2016.
Based on application, the global respiratory inhalers market is segmented into asthma, COPD, and others. Asthma accounted for the largest market share in 2016 and is likely to remain the leading revenue generation channel for the global respiratory inhalers market over the forecast period due to the increasing prevalence of the disease in developed regions.
Based on end user, the global respiratory inhalers market is segmented into hospitals and clinics, respiratory care centers, and others. The hospitals and clinics segment dominated the global market in 2016 and is likely to remain the leading end user in the market over the forecast period.
Respiratory Inhalers Industry Updates:
A study conducted in the Ann & Robert H. Lurie Children’s Hospital of Chicago in April 2019 found that 42% of the test subjects, who were 113 children from the age of 2 to 16 suffering from asthma, missed a key step in the operation of their inhalers, resulting in inadequate efficacy of the device. Such studies have highlighted the need for direct intervention from doctors and healthcare agencies to educate patients on the correct, most effective utilization of respiratory inhalers.
Respiratory Inhalers Market Regional Analysis:
North America is the largest regional market for respiratory inhalers and accounted for more than 35% of the global market in 2016. The North American market for respiratory inhalers is likely to reach a valuation of close to USD 12 billion by 2023, due to the growing prevalence of asthma and COPD in the region. COPD is considered among the leading causes of death in North America and accounted for the third largest number of deaths in the U.S. in 2014.
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The strong presence of leading players in Europe is likely to drive the Europe market for respiratory inhalers over the forecast period.
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