Respiratory Inhalers Market Size to Reach Revenues of around $5 Billion by 2025 - Arizton
CHICAGO, Aug. 27, 2020 /PRNewswire/ -- The global respiratory inhalers market is expected to grow at a CAGR of over 9% during the period 2019-2025.
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Key Highlights Offered in the Report:
1. The US accounted for the major share of global inhalers market; it is
likely to witness incremental growth rate of around $592 million during
the forecast.
2. The MDI accounted for the major share in 2019, however the DPI in this
segment accounted for the second largest share with the highest absolute
growth of around 73% of growth during the forecast period.
3. Based on the distribution channel, the hospitals and pharmacies accounted
for the major share and are expected to dominate during the forecast
period. This segment is expected to post an incremental growth of around
$890 million during the forecast period.
4. The adults segment accounted for the larger share of the market in 2019.
This is expected to witness an absolute growth of more than 78% during
the forecast period.
5. The impact of COVID-19 on the market has created the sudden surge in
demand for inhalers, this is due to the usage of the inhalers for
COVID-19 treatments, which is creating shortage for the inhalers for the
asthma patients across the globe. The market is expected to function
normally from the last quarter of 2021 or by the early 2022.
6. Vendors are actively engaged in the development of the new product and
commercially launched patient friendly products with enhanced drug
transfer featuring the latest DPI and SMI in recent years.
Key Offerings:
-- Market Size & Forecast by Revenue | 2019-2025
-- Market Dynamics - Leading trends, growth drivers, restraints, and
investment opportunities
-- Market Segmentation - A detailed analysis by products, patient,
distribution channel, and geography
-- Competitive Landscape - 5 key vendors and 14 other vendors
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Respiratory Inhalers Market - Segmentation
-- In 2019, the DPI segment accounted for the share of 46% of the global
respiratory inhalers market. The increased efficiency of drug usage is
the major driving force for the growth of DPIs. Drug deposition in the
lung was twice than of pMDI, which suggests a low dosage of the drug
with reduced side-effects helps to achieve the same degree of asthma
control.
-- 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.
-- 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.
Respiratory Inhalers Market by Product
-- Metered Dosage Inhaler
-- Dry Powder Inhaler
Respiratory Inhalers Market by Patient
-- Adults
-- Pediatric
Respiratory Inhalers Market by Distribution Channel
-- Hospital Pharmacies
-- Retail
-- Online
Respiratory Inhalers Market - Dynamics
The demand for smart inhalers is higher in APAC and Europe due to the rise in the prevalence of asthma, COPD, and other respiratory problems. With the rising adoption of digital technology, the demand for smart inhalers is expected to rise at a significant rate. Various vendors are also focusing on the introduction of smart inhalers in the market. Various global players are partnering with contract manufacturers to procure smart inhalers technology. For instance, GlaxoSmithKline, Boehringer Ingelheim and Novartis have signed development deals with Propeller Health. Similarly, AstraZeneca has signed a master supply agreement with Adherium. Novartis is also working with US mobile technology company Qualcomm for smart inhalers.
Key Drivers and Trends fueling Market Growth:
-- Introduction of Soft Mist Inhalers
-- Surge in Inhalers Usage due to COVID-19
-- Respiratory Inhalers Designed to the Specific Drugs
-- Technological Advances in Inhalers
Respiratory Inhalers Market - Geography
In North America, both the US and Canada experienced large-scale adoption of inhalers over the past decade. The rise in pollution rate, along with the growing number of cases related to respiratory troubles, even for neo-natal care, is one of the major reasons that boosted the overall demand for inhalers in North America. In addition, more than 50 lakh people are affected by novel coronavirus and are admitted to emergency rooms and are on ventilators. This high demand for ventilators is also supported by inhalers for increased effectiveness of the medicine.
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Respiratory Inhalers Market by Geography
-- North America
-- US
-- Canada
-- Europe
-- UK
-- Germany
-- France
-- Italy
-- Spain
-- APAC
-- China
-- Japan
-- South Korea
-- Australia
-- India
-- Latin America
-- Brazil
-- Mexico
-- Argentina
-- Middle East & Africa
-- South Africa
-- Saudi Arabia
-- Turkey
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
Explore our healthcare & lifesciences profile to know more about the industry.
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About Arizton:
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SOURCE Arizton Advisory & Intelligence
