Respiratory Inhalers Market to Surge Past US$ 38.8 Billion by 2024, Buoyed by Increasing Prevalence of Respiratory Diseases

Published On : Apr 22, 2017

The global respiratory inhalers market was valued at US$ 25,846.7 million in 2015 and is projected to expand at a CAGR of 4.2% during the forecast period (2016–2024), as highlighted in a new report "Global Respiratory Inhalers Market, By Devices (Metered Dose Inhalers, Dry Powder Inhalers, Nebulizers), Technology (Digital, Manual), Therapeutic Application (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension), and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2024" published by Coherent Market Insights. High prevalence of respiratory diseases, rapid growth of the aging population, and large number of smokers are expected to be major factors driving growth of the global respiratory inhalers market over the foreseeable future.

Chronic obstructive pulmonary disease (COPD) is a life-threatening disease affecting the lungs characterized by acute breathlessness. In 2015, it is estimated that around 3 million deaths occurred due to sever Chronic Obstructive Pulmonary Disease, with 90% fatalities reported in low and middle income countries. The major reason for chronic obstructive pulmonary disease is exposure to tobacco smoke through active or passive smoking. Most chronic obstructive pulmonary disease cases are preventable by avoiding tobacco smoking. However, countries need to adopt the WHO Framework Convention on Tobacco Control (WHO-FCTC) and follow the MPOWER package of measures so that non-smoking becomes the norm globally.

Asthma is also one of the prime conditions leading to respiratory, disease which is characterized by recurring attacks of panting and wheezing. The severity and frequency of asthma varies according to individual. According to the American Academy of Allergy, Asthma & Immunology, approximately 250,000 people die each year from asthma. Around 100 million people are expected to suffer from asthma by 2025. According to National Center for Health Statistics, asthma prevalence among all adults was reported at 8.8% in 2014. 

To know the latest trends and insights prevalent in the Respiratory Inhalers Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/respiratory-inhalers-market-227

According to Centers for Disease Control, 10 fatalities are caused due to asthma in the U.S. each day, with 3,651 deaths reported in 2014. Of these, 20-30% of asthma cases were avoidable through proper treatment and care. Women accounted for 65% deaths, with African-American women at higher risk. According to Centers for Disease Control and Prevention, the annual economic burden costs over US$ 56 billion. 

Inhalers play a pivotal role in treatment of asthma and chronic obstructive pulmonary disease. The importance of the inhalation is delivery of medicines that directly acts on air passage and lungs. This signifies the higher concentrations of drug at target site, with lower systemic exposure thus also have low adverse effects than the oral or intravenous administration of drug. The drawback of inhalers are that it leads to suboptimal use and low efficacy. The design of the inhalers also plays an important role in drug deposition, the characteristics of the inhaled medicine, and on the ability of the patient to use the device.

Key takeaways of the respiratory inhalers market:

  • The global respiratory inhalers market is expected to expand at a CAGR of 2% during the forecast period (2016–2024) as there exists a huge unrealized market especially in Asia Pacific, Latin America, Middle East and Africa
  • Manually segment is expected to dominate the market throughout the forecast period, with a market share of about 91% in 2016
  • Asthma, a therapeutic application segment is expected to dominate the market throughout the forecast period with increasing prevalence of asthma
  • Some of the major players involved in global respiratory inhalers market are AstraZeneca, Beximco Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, Cipla Ltd., GlaxoSmithKline plc, Koninklijke Philips N.V., Merck & Co., Inc., OMRON Healthcare Europe B.V., PARI Medical Holding and Teva Pharmaceutical Industries Ltd.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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