An Incisive, In-depth Analysis on the Respiratory Inhaler Devices Market
This study offers a comprehensive, 360 degree analysis on the Respiratory Inhaler Devices market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Respiratory Inhaler Devices market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Respiratory inhaler devices are medical devices are used to assist a patient encountering breathing problems resulting from respiratory disorders such as fibrosis, asthma, COPD and ARDS and others. On the basis of product type, the market has been segmented into dry powder inhaler (DPI), metered dose inhaler (MDI) and nebuliser. Nebuliser is further sub-segmented into compressed air nebuliser, ultrasonic nebuliser and mesh nebuliser.
Market Value and Forecast
In terms of value, the global respiratory inhaler devices market is estimated to expand at a CAGR of 4.2% during the forecast period. The global respiratory inhaler devices market value is expected to increase to US$ 44,501.0 Mn by 2027 end.
Growth of the global respiratory inhaler devices market is mainly driven by rising prevalence of asthma, chronic respiratory diseases, COPD and other respiratory diseases. However, lack of a single effective inhaler devices for all type of disease indication, side effects and complications during drug inhalation, lack of skilled pulmonologist, physicians and nurses, lack of awareness, coupled with high prices of inhaler devices are factors restraining market growth.
Patients are shifting towards combined therapies due to associated benefits such as more reliable in complex patients, increased efficacy and easy reimbursement policies associated with therapy. Combination therapies cost more compared to conventional therapies for patients with complex indications of respiratory disease. Increase in usage of combination therapies such as triple combination therapy for COPD patients is expected to drive growth of the global respiratory inhaler devices market over the forecast period.
Market Segmentation By Product Type
On the basis of product type, the market has been segmented into dry powder inhaler, metered dose inhalers and nebuliser. In terms of value, the metered dose inhaler segment is estimated to account for over 70.0% share of the global respiratory inhaler devices market by 2017 end, and is expected to remain dominant during the forecast period.
Market Segmentation By Disease Indication
On the basis of disease indication, the market has been segmented into asthma, COPD, pulmonary arterial hypertension and other respiratory diseases. COPD is expected to be third leading cause of death and fifth leading cause of disability by 2020 end. Numerous health awareness programmes being conducted across the globe are expected to result in the COPD segment registering a CAGR of 4.7% over the forecast period.
Market Segmentation By Technology
On the basis of the technology, market has been segmented into manually operated inhaler devices and digitally operated inhaler devices. Digitally operated inhaler devices is expected to register a CAGR of 3.6% over the forecast period. Application of GPS and Bluetooth technology in inhaler devices is expected to drive demand for digitally operated inhaler devices over the forecast period.
The global respiratory inhaler devices market has been segmented into seven major regions namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa. In terms of value, North America is estimated to dominate the market with 41.3% share of the overall respiratory inhaler devices market by 2017 end. APEJ is estimated to be the significant growing market, registering a CAGR of 4.5% in terms of value over the forecast period. Currently, metered dose inhaler is a major contributor in markets in Europe, North America and parts of Asia Pacific, while nebuliser segment is expected to exhibit a CAGR of 3.6% in terms of value during the forecast period.
Some key players identified in the global respiratory inhaler devices market report include: AstraZeneca, Beximco Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, Cipla Ltd., GlaxoSmithKline plc, Koninklijke Philips N.V., Merck & Co., Inc., OMRON Healthcare Europe B.V., PARI Medical Holding and Teva Pharmaceutical Industries Ltd. These companies are focusing towards enhancing their product portfolio through the introduction of innovative and cost-effective products to strengthen position in the market in the long term.
Future Market Insights offers 10-year forecast on the global respiratory inhaler devices market between 2017 and 2027. This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the global respiratory inhaler devices market over the forecast period. The global respiratory inhaler device market report provides analysis and insights on respiratory inhalers. Primary factors fuelling demand for respiratory inhaler device market are increasing prevalence of asthma, COPD and other respiratory diseases coupled with rising awareness that has triggered the usage of respiratory inhaler devices worldwide. This is expected to bolster the growth of the respiratory inhaler devices market over the next five to six years. Increasing demand for respiratory inhaler devices for controlling asthma and other respiratory disease, especially among children and elderly population, is expected to drive growth of respiratory inhaler devices market during the forecast period. Companies are focusing on regions and sections where prevalence of asthma, and chronic lung diseases are increasing such as Asia Pacific and MEA.
To understand and assess various opportunities in this market, the report is categorically split into four sections, namely market analysis by product type, technology, disease indication and region. The report analyses the global respiratory inhaler device market in terms of value (US$ Mn).
The report starts with an overview of the global respiratory inhaler device. In the same section, FMI covers the global respiratory inhaler device market performance in terms of value. This section also includes FMI’s analysis of key trends, drivers, and restraints from supply and demand perspectives. The report also cover the opportunities in the global respiratory inhaler device market.
The next section of the report analyses the market on the basis of respiratory inhaler device market segment and presents the forecast in terms of value for all years till 2027. The market has been segmented as follows:
By Product Type
- Dry Powder Inhaler
- Metered Dose Inhaler
- Ultrasonic Nebulizer
- Compressed Air Nebulizer
- Mesh Nebulizer
- Manually Operated Inhaler Devices
- Digitally Operated Inhaler Devices
By Disease Indication
- Pulmonary Arterial Hypertension
- Others Respiratory Disease
The next section analyses the market on the basis of regions in terms of value for the forecast period. Regions covered in the report are as follows
- North America
- Latin America
- Rest of LA
- Western Europe
- Rest of WE
- Eastern Europe
- Rest of EE
- Asia Pacific Excluding Japan
- Australia &b New Zealand
- Rest of APEJ
- Middle East & Africa
- GCC countries
- South Africa
- North Africa
- Rest of MEA
To reach market size, the report considers market value of the global respiratory inhaler device across the above-mentioned regions. The market estimation presented in the report evaluates the total revenue generated in the global respiratory inhaler device market over the forecast period. When developing the market forecast, the starting point involves sizing up the current market, which forms the basis of the forecast. For this, FMI conducted interviews with several subject matter experts in the respiratory inhaler device domain across the globe. Given the scenario of the market, FMI triangulated the outcome based on analysis from the supply side, demand side and also the dynamics of the market. In this report, quantification of data has been conducted along with qualitative analysis.
We have also taken into consideration the year-on-year growth of the global respiratory inhaler device market, based on regional growth analysis, to understand the predictability of the market and to identify the key opportunities. Another key feature of this report is the analysis of the global respiratory inhaler device market, by region, which is further segmented on the basis of countries and revenue forecast in terms of absolute dollar (US$) opportunity. Regional trends have been introspected, identified and applied while carrying out the forecasting of the market. Additionally, the absolute dollar opportunity provided in the report is critical in assessing the level of opportunity that a provider can look to achieve from a sales perspective in the global respiratory inhaler device market.