Respiratory Inhaler Device Market Size Global study, by Product Type, by Future Growth, By Leading Companies, by Applications and Regional Forecasts 2016-2023

Global Respiratory Inhaler Device Market Overview

Industrialization has led to an uncertain increase in environmental pollution, which is giving birth to a number of respiratory diseases such as asthma and COPD (chronic obstructive pulmonary disease). The global market of respiratory inhaler devices is at a high pace due to rapid increasing respiratory diseases. Tens of millions of people suffer from lung cancer in the U.S due to industrialization which resulted in increased environmental pollution, smoking, etc.

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Market Size & Forecast

In 2015, global revenue generated by respiratory inhaler devices stood at USD 30 billion witnessing a compound annual growth rate of 4.3% over the forecast period i.e. 2016-2023. MDIs (metered-dose inhalers) constituted the largest market share among inhalation systems followed by dry powder inhaler which is used for treating cystic fibrosis, a life-threatening lung disease. In 2015, the MDIs segment accounted for 70% of the global revenue.

North America is anticipated to hold the largest consumer base of respiratory inhaler devices followed by Western Europe. North America and Western Europe collectively accounted for 65% of the total respiratory inhaler device market in terms of the revenue share by the end of 2015 owing to the increasing environmental pollution due to industrialization and smoking habits which are commonly found among youngsters.

Asia-Pacific is anticipated to be the most attractive market in terms of compound annual growth rate, Asia Pacific market is estimated to project a CAGR of 5% over the forecast period due to increasing prevalence of asthma and COPD among children and the geriatric population.

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The immune systems of children and older adults are more prone to chronic respiratory diseases; respiratory inhaler devices are anticipated to experience a huge demand in the near future due to the increasing number of respiratory patients. It is concerning that the global asthma patients which are substantial in numbers seem to be increasing rapidly as the world becomes more westernized. Developing countries are more vulnerable to respiratory diseases due to poverty that exacerbates risk factors such as indoor air pollution and tobacco consumption, the government of these countries is taking strategic and collaborative actions to diagnose and manage respiratory health problems in their countries.

Increasing health awareness coupled with increasing personal disposable income which will result in increased sending on respiratory problems, this will further surge the demand for respiratory inhaler devices in the upcoming 5-6 years.

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Key Players

Philips Healthcare
3M Health Care
Allied Healthcare Products Inc.
Smith Medicals
Baxter International
GlaxoSmithKline Plc.
Novartis AG
OMRON Healthcare
Beximco Pharmaceuticals Ltd.
PARI Medical Holding
and other Notable Key Players

Growth Drivers and Challenges

The major factors that are driving the global respiratory inhaler device market include increasing prevalence of respiratory diseases such as asthma, COPD and emphysema, growing need for rescue medication during the sudden asthmatic attack and technological advancement in the products.

Industrialization which leads to environmental pollution, as well as respiratory problems, feasible inhaler devices available in the market and faster delivery, are some of the factors that will boost the demand for respiratory inhaler devices over the forecast period.

Factors such as non-standardized dosage for patients, technical problems in inhaler design and lack of effective drugs for certain respiratory disorders, high cost associated with the product, side effects and complications are some of the factors that are anticipated to restrain market growth over the forecast period.

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