PORTLAND, Oregon, November 25, 2014 /PRNewswire/ --
According to a new report by Allied Market Research titled, "Global COPD and Asthma Devices Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the global COPD and asthma devices market would reach $34.3 billion by 2020, registering a CAGR of 4.5% during 2014 - 2020. Considering the growth and market size, Dry Powder Inhalers (DPIs) will be the most lucrative market segment of the COPD and Asthma devices (inhalers) market by 2020. Metered Dose Inhalers (MDIs) are the largest revenue generating segment currently and would maintain the stand till 2020.
To the view the report, visit the website at http://www.alliedmarketresearch.com/COPD-asthma-devices-market
The need for urgency in medication and portability of the drug delivery devices will drive the growth for COPD and Asthma devices. Despite notable advantages of the COPD and Asthma devices, some factors such as environmental concerns are likely to impede the growth of COPD and Asthma devices market. It is observed that the inhalers, particularly the MDIs, release environmentally-hazardous gases, namely chlorofluorocarbon (CFC) and hydrofluoroalkanes (HFA), which is negatively impacting growth of the MDIs segment. Consumption pattern will shift to better alternatives, namely the DPIs. The Soft Mist Inhalers (SMIs), which are another type of inhalers, deliver metered dosage of medication as a soft mist. Such form of drug delivery is ~65% to 80% more efficacious than its peers and will eventually display higher growth as compared to its peers.
Nebulizers, electric or battery powered machines that dispense medication as a fine mist, are ideal for home healthcare set-up for debilitated patients, geriatrics and children. Nebulizers segment thus holds about 13% of the global COPD and Asthma devices market; however, the nebulizers market is forecast to have diminishing growth through 2020 as nebulizers are rendered ineffectual, as POC or portable COPD and Asthma devices due to its larger set up.
Key findings of the study:
- Drug powder inhalers (DPIs) segment will grow at a CAGR of 5.3% during the forecast period, fastest among all
- North American market would be one of the most lucrative markets, in terms of growth
- European market for COPD and asthma devices would reach $10 billion by 2020, with the CAGR of 4.8%
- Within the nebulizers segment markets, compressor nebulizers would be most lucrative, growing at 7% CAGR during the forecast period and compressor nebulizers would garner 81.5% market share by 2020
Specific focus to achieve product differentiation and thus gain competitive advantage drives the development of new product variants of COPD and Asthma devices. In accordance to the afore-mentioned trend, the market has witnessed steady stream of product launch. Key product manufacturing companies profiled in the report include GlaxoSmithKline Plc, Novartis AG, Merck & Co., Inc., AstraZeneca Plc, Philips Healthcare, 3M Health Care, Allied Healthcare Products Inc., Sunovion Pharmaceuticals Inc., GF Healthcare Products, Smith Medicals, Lincare Holdings Inc. and Baxter International.
View all reports related to medical devices at http://www.alliedmarketresearch.com/medical-devices-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research