The respiratory inhalers market by revenue is expected to grow at a CAGR of over 9% during the period 2019-2025

NEW YORK, Sept. 3, 2020 /PRNewswire/ --  Read the full report: https://www.reportlinker.com/p05955545/?utm_source=PRN



The respiratory inhalers market by revenue is expected to grow at a CAGR of over 9% during the period 2019–2025.

The global respiratory inhalers market is one of the steadily growing segments in the medical devices market. The steady growth can be attributed to the growing prevalence of asthma, COPD, and cystic fibrosis and the outbreak of the COVID-19 pandemic. The prevalence of COPD and other respiratory disorders demanding inhalers has increased at a significant rate over the last few years across the globe. According to the WHO, COPD is expected to emerge as the third leading cause of death across the world by 2025. The increasing incidence of respiratory diseases and the growing demand for treatment options for respiratory disorders are fueling the market growth of therapeutic respiratory care devices such as inhalers. Further, the presence of established infrastructure in several countries of North America, Europe, and APAC, coupled with the availability of well-developed technologies that allow early implementation of advanced inhalation technologies, increases the demand for inhalers. Favorable government initiatives in emerging economies toward improvising standard healthcare infrastructure and increased focus on healthcare expenditure are also aiding to focus on offering high-quality healthcare services.

The following factors are likely to contribute to the growth of the respiratory inhalers market during the forecast period:
• Increase in Usage of Smart Inhaler
• Introduction of Soft Mist Inhalers
• Increase in Target Population
• Surge in Inhalers Usage due to COVID-19

The study considers the present scenario of the respiratory inhalers market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Global Respiratory Inhalers Market Segmentation
The global respiratory inhalers market research report includes a detailed segmentation by products, patient, distribution channel, and geography. The metered dosage inhaler segment is expected to over 2.5 billion by 2025 due to the outbreak of COVID-19, which has led to the increased usage of inhalers among respiratory disease patients. Pressurized metered dosage inhalers (pMDIs) and dry-powder inhalers (DPIs) are commonly used among end-users. pMDIs are mostly used among developing and underdeveloped countries due to their low price and easy availability in pharmacies. DPI, breath-actuated inhalers, and soft mist inhalers are widely used in developed countries such as the US, the UK, and Germany as the treatment in the countries are covered under insurance and reimbursement policies. Developed countries are the matured market, where most advanced versions of smart inhalers are used among people. MDIs are considered as the first line of treatment for major respiratory disorders such as COPD and Asthma. However, a major challenge faced by the segment is the lack of awareness among patients and healthcare providers regarding the correct usage of MDIs.

The respiratory inhalers market is segmented into pediatric and adults age groups. In. 2019, the adult segment accounted for the share of 68%, and the pediatric population constituted a share of 32% in the respiratory inhalers market. The adult population is widely exposed to several environmental risk factors such as air and workplace pollutions and the consumption of tobacco. This contributes to the high share of the adult population in the market. While the prevalence of asthma is increasing in several countries, multiple factors are affecting the incidence of asthma in the adult population. With the eruption of the COVID-19 pandemic, the number of adults infected is higher than pediatric and neonates populations. Therefore, the demand for inhalers has gone drastically up across the globe due to the spread of the virus.
The hospital pharmacy segment accounted for a share of 47%. Hospitals are the first point of contact for the evaluation and treatment of respiratory diseases such as asthma and COPD. As the number of hospitals has grown over the period, the count of hospital pharmacies has also increased. In the middle- and low-income countries, several smaller clinics, nursing homes have tie-ups with hospital pharmacies to refer patients to purchase branded medical devices for the usage.

Segmentation by Products
• Metered Dosage Inhaler
• Dry Powder Inhaler
Segmentation by Patient
• Adults
• Pediatric
Segmentation by Distribution Channel
• Hospital Pharmacies
• Retail
• Online

INSIGHTS BY GEOGRAPHY
North America has dominated the global inhalers market, and dominance is mainly due to the increase in the prevalence of several respiratory diseases. The US has been the earliest adopters of the latest inhalers technology to reduce the rate of COPD. In North America, both the US and Canada experienced a large-scale adoption of these devices over the last decade. The rise in pollution rates, along with the growing number of cases of respiratory troubles, is one of the major reasons that boosts the overall demand in the region. Besides, since the outbreak of the COVID pandemic, the need for inhalers has grown significantly in ICUs and emergency rooms. A large population on ventilators are supported with inhalers for increased effectiveness of the medicine. Although the market is expected to grow at a slower rate than other regions, there is a surge in demand for inhalers in the region, especially in the US owing to the COVID-19 pandemic. The country will witness growth as the national health spending is projected to grow at an average annual rate of over 5% during the period 2019–2028, reaching $6.2 trillion by 2028.

Segmentation by Geography
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
• APAC
o China
o Japan
o South Korea
o Australia
o India
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o Saudi Arabia
o Turkey

INSIGHTS BY VENDORS
The global respiratory inhalers market share is fragmented with the presence of several global, regional, and local vendors offering a wide range of products. GSK, Novartis, BOEHRINGER INGELHEIM, Cipla, and AstraZeneca are the key players dominating the global inhalers market. Although large vendors dominate the market, they are witnessing heavy competition from regional and local companies from India, China, Italy, and Germany. Many regional vendors are also offering cost-effective products in Europe, APAC, and the Middle East & Africa regions.

Prominent Vendors
• GlaxoSmithKline
• Novartis
• Boehringer Ingelheim
• Cipla
• AstraZeneca

Other Prominent Vendors
• Propeller Health
• Beximco Pharmaceuticals (Beximco Pharma)
• H&T Presspart
• Cohero Health
• CHIESI Farmaceutici
• Mundipharma
• 3M
• HELTMAN Medikal
• Adherium
• Luckys Pharma
• Amiko Digital Health
• Teva Pharmaceutical Industries
• Findair Sp.z.o.o
• Vectura Group

KEY QUESTIONS ANSWERED
1. What are the respiratory inhalers market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the respiratory inhalers market share?
3. How is the growth of the hospital pharmacies segment influencing the respiratory inhalers market growth?
4. Who are the leading vendors in the respiratory inhalers market, and what are their market shares?
5. What is the impact of the COVID-19 pandemic on the respiratory inhalers market share?

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