Dry Powder Inhalers Capture over 50% Value Share
Owing to greater precision and straightforward usage, dry powder inhalers (DPI) are leading the way in respiratory inhaler devices market. Such benefits of DPIs over other inhalers are enabling their broader adoption for drug delivery in asthma and chronic obstructive pulmonary disease (COPD) treatment. However, in due course of time, patients likely to switch from DPIs to metered dose inhalers (MDI) on grounds of reduced exacerbations and enhanced disease control. Despite this preferential shift, market players continue to reap higher returns from dry powder respiratory inhaler devices.
Strong Government Support Bolsters Market in North America, Europe, and APEJ
Factors such as conducive reimbursement policies, and notable upsurge in per capita healthcare spending would be critical in driving the respiratory inhaler devices market in both, developed and developing regions. Capturing a voluminous share in market revenues, collectively, North America and Europe continue to be the hotbed of investment opportunities for stakeholders in the respiratory inhaler devices market.
Strong digital presence, particularly in these developed regions, is further attracting market players. Expanding unaddressed patient pool of asthma and COPD and government-backed awareness programs about the diseases in Asia Pacific (excluding Japan) are also creating white spaces to market players
Strategic Collaboration for Superior Healthcare Delivery
Manufacturers of respiratory inhaler devices are focusing on strategic convening with digital and software service providers in order to address the expanding patient pool. Propeller Health, for instance, has partnered with Novartis International AG to develop a customized add-on sensor for their smart inhalers for treatment of COPD.
AstraZeneca plc has created a digital health collaboration with Adherium for development of smart respiratory inhaler devices. Furthermore, players moving aggressively towards next-gen managed care model with meaningful engagement in healthcare delivery including, integration of a patients’ healthcare journey, will see bigger returns.
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How Growth will Unfold
Preference for manually operated inhaler devices will remain intact in the respiratory inhaler devices market. 9 out of 10 patients opt for these respiratory inhaler devices, and the trend is likely to continue over the foreseeable timeframe. By 2026, manually operated inhaler devices worth over US$ 40 Bn would be used for treatment of asthma and COPD. However, market players are also citing revenue streams from digitally operated inhaler devices, especially in developed regions.
FREQUENTLY ASKED QUESTIONS ABOUT GLOBAL RESPIRATORY INHALER DEVICES MARKET
Which region is expected to lead the global respiratory inhaler devices market?
North America is expected to dominate the global respiratory inhaler devices market in terms of revenue during the forecast period. Countries in Asia Pacific such as India and China, are expected to remain targeted geographies and provide numerous opportunities for regional and key players operating in the respiratory inhaler devices market.
Which product is expected to be most attractive in the respiratory inhaler devices market?
Dry powder inhalers are expected to hold above 50% of revenue share in the respiratory inhaler devices market, owing to its constant technological evolvement, better performance, and are most commonly used for drug delivery in asthma and COPD treatment.
Which disease indication segment is expected to dominate the respiratory inhaler devices market?
Asthma held significant market value share followed by COPD (chronic obstructive pulmonary disease) in the respiratory inhaler devices market and this trend is expected to continue during the forecast period, owing to extensive use of respiratory inhaler devices for asthma and COPD treatment.
Who are the major players contributing towards the growth of respiratory inhaler devices market?
Merck & Co. Inc., AstraZeneca Plc. Novartis AG, 3M Company, Boehringer Ingelheim GmbH, Cipla Ltd, and GlaxoSmithKline Plc. are the key players operating in the respiratory inhaler devices market. Introduction of new technologically advanced products and effective marketing are the key strategies practised by leading market players to improve their product portfolio and increase market share.
How do complications associated with the respiratory inhaler devices tend to hamper market growth?
The lack of awareness among patients regarding the use of new respiratory inhaler devices such as smart inhalers and soft mist inhalers, are expected to affect the overall growth of the respiratory inhaler devices market. Also, low treatment rate of asthma and COPD in middle- and low-income countries is anticipated to limit the respiratory inhaler devices market growth.
RESPIRATORY INHALER DEVICES MARKET TAXONOMY
FMI’s study on the respiratory inhaler devices market offers information divided into four important segments - product type, technology, disease indication, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
- Dry Powder Inhalers
- Metered Dose Inhalers
- Compressed Air Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers
- Manually Operated Inhaler Devices
- Digitally Operated Inhaler Devices
- Chronic Obstructive Pulmonary Disease
- Pulmonary Arterial Hypertension
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa (MEA)