Global Respiratory Inhaler Market Revenue to Register CAGR of over 4.0% in Next 10 Years
MarketResearch.Biz has published a new report titled Global Respiratory Inhaler Market by Product Type (Dry Powder Inhalers, Metered Dose Inhalers, and Nebulizers), By Application (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension, and Cystic Fibrosis), By Technology (Digital and Manual) and Region – Global Forecast to 2026., which offers a holistic view of the respiratory inhaler market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017–2021) is projected to be US$ 1,49.6 Bn, which is expected to increase rather significantly over the latter part of the five-year forecast period. The report also offers insightful and detailed information regarding the various key players operating in the global respiratory inhaler market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global respiratory inhaler market is segmented on the basis of product type, application, technology, and region.
Respiratory inhalers are the devices used for consuming medicines through inhaling. The advantage of inhaler is it can be used to consume small amount dose which reduces the side effect of the medicine.
Initiative taken by Various government for prevention of respiratory diseases is other factor contributing to the growth of the market. For instance, in Australia, the new National Asthma Strategy for 2018 was launched on the 31st January, 2018 by Federal Health Minister for reducing the impact of asthma on individuals, the community and the economy.
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Global Respiratory Inhaler Market: Market Dynamics
Increasing prevalence of respiratory diseases is expected to boost the market growth over the forecast period. According to the Global Burden of Disease Study, in 2016 reports a prevalence of 251 million cases of chronic obstructive pulmonary disease (COPD). In addition, more than 90% of death due to COPD occurred due in middle and low income countries. The number of cases of COPD is expected to increase in near future owing to the high smoking prevalence and growing geriatric population. Rapid industrialization leading to indoor and outdoor air pollution, unhealthy diet and physical inactivity which are other factors which can cause respiratory diseases in turn creating demand for respiratory inhaler in near future.
Manufacturers are continuously developing advance inhaler devices which has different function and operation procedure in order to gain competitive advantage. However, nurses, physicians and therapist does not have enough knowledge of device use and administration protocols. Lack of professional guidance to the patients regarding to usage of devices by the practitioners can limit growth of respiratory inhaler market.
Global Respiratory Inhaler Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global respiratory inhaler market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global respiratory inhaler market is expected to expand at a moderate CAGR of over 4.0% during the forecast period.
Global Respiratory Inhaler Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, technology and region. The product type segment dry powder inhalers (single unit dose and multi-unit dose), metered dose inhalers, nebulizers (compressed, mesh, and ultrasonic). Application segment includes asthma, chronic obstructive pulmonary disease, pulmonary arterial hypertension, and cystic fibrosis. Technology segment includes digital and manual. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
According to global respiratory Inhaler market infographics published on MarketResearch.Biz, over 4.0% CAGR by product type.
By product type: Metered dose inhalers segment accounted for highest revenue share contribution as compared to other type segment, and is expected to register a CAGR of over 4.0% between 2017 and 2026 owing to its wide use in treatment of asthma, chronic obstructive pulmonary disease, and other respiratory diseases.
By application: Chronic obstructive pulmonary disease segment accounted for highest revenue share contribution as compared to other application segment, and is expected to register a CAGR of over 4.5% between 2017 and 2026 owing to growing prevalence of chronic obstructive pulmonary disease globally.
By technology: Manual segment is projected to account for highest revenue share as compared to that of digital, and register a CAGR of over 4.0% over the forecast period
By region: Market in North America accounted for highest revenue share in the global respiratory inhaler market in 2016, and is expected to register a CAGR of over 4.0% between 2017 and 2026 owing to the increasing number of product approval by health authorities.
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Global Respiratory Inhaler Market: Competitive Analysis
The research report on the global respiratory Inhaler market includes profiles of some of major companies such as AstraZeneca Plc., Beximco Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, Cipla Inc., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Company, Inc., Teva Pharmaceutical Industries Ltd, OMRON Healthcare Europe B.V., and PARI GmbH.
The Global Respiratory Inhaler Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global Respiratory Inhaler Market for 2017–2026.