Respiratory disorders such as asthma, COPD, ARDS and fibrosis result into breathing problems. Respiratory devices are used for assisting patients encountering such breathing problems. The value of global respiratory inhaler devices market is expected to reach US $43,214 million by 2025 end and it is estimated to witness 4.3% CAGR during the forecast period, 2025, according to the report by (RRI).
Global Respiratory Inhaler Devices Market Estimated to Witness 4.3% CAGR By End 2025
Major players in the global respiratory inhaler devices market are focusing on enhancement of their product portfolio by introducing cost-effective and innovative products for strengthening their market position for future advancements. These major players include Beximco Pharmaceuticals Ltd., Cipla Ltd., Koninklijke Philips N.V., PARI Medical Holding, AstraZeneca, Boehringer Ingelheim GmBH, GlaxoSmithKline plc, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., and OMRON Healthcare Europe B.V.
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Combination Therapy Estimated to Gain Traction During the Forecast Period
Increasing prevalence of asthma, COPD, chronic respiratory diseases and several other respiratory diseases are driving the growth of global market for respiratory inhaler devices. Patients are inclining towards combined therapies owing to associated benefits like significant reliability in complex patients, easy reimbursement policies of therapy and increased efficacy. Combination therapies are costlier than conventional therapies. However combination therapy is likely to gain traction during the forecast period owing to increased utilization of combination therapies for COPD patients. However, a single effective inhaler for treatment of all types of respiratory diseases has not yet been discovered. This factor is restraining the growth of global respiratory inhaler devices market. Other impeding factors include drug-related complications and side effects, lack of skilled physicians, nurses & pulmonologists, unawareness and high costs of inhaler devices.
COPD Segment Expected to Witness 4.8% CAGR During 2015 to 2025
Based on disease indication, the market is categorised into asthma, pulmonary arterial hypertension, COPD and other respiratory diseases. COPD is estimated to be the third largest cause of death and fifth largest cause of disability during 2015 to 2020. Several heath programs conducted around the world are expected to result into COPD segment. This segment is anticipated to witness 4.8% CAGR during the forecast period.
Application of Bluetooth and GPS Fuelling Demand for Digitally Operated Inhalers
Based on technology, the market is bifurcated into manually operated and digitally operated inhaler devices. Application of Bluetooth and GPS in inhaler devices is anticipated to fuel demand for digitally operated inhaler devices during the forecast period. This segment is estimated to witness 3.8% CAGR during 2015 to 2025.
Metered Dose Inhaler Segment Estimated to Remain Dominant During the Forecast Period
Based on product type, the market is categorised into metered dose inhaler, dry powder inhaler and nebuliser. Metered dose inhaler accounted for more than 69.9% share of global market for respiratory inhaler devices in 2015 and this segment is estimated to remain dominant during the forecast period.
APEJ Estimated to Witness Fastest Growth During 2015 to 2025
Region-wise, the market is categorised into North America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Latin America and Asia Pacific Excluding Japan (APEJ) and Japan. North America dominated the overall market with 40% share in 2015. And, Asia Pacific Excluding Japan is estimated to witness fastest growth with 5% CAGR during 2015 to 2025. Nebuliser is estimated to reflect 3.8% CAGR by value in North America, Europe and Asia Pacific during the forecast period.