The global respiratory inhaler devices market is expected to reach a market size of USD 52.43 Billion by 2027, and register a high CAGR during the forecast period, according to a new report by Reports and Data.
The respiratory inhaler devices market is driven by increase in the incidence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Players in the market are investing in the development of advanced portable inhalation devices that will also fuel growth of the market.
Respiratory diseases is among the leading cause of death and disability globally. According to the World Health Organization, around 65 million people suffer from chronic obstructive pulmonary disease, and 3 million die every year, making it the third leading cause of death.
Rise in trend of smart respiratory inhaler devices will drive growth of the market in the coming years. Smart inhaler devices are designed to connect with mobile application and help users to monitor dosage reminders and medication schedules. However, high cost of respiratory inhaler devices will hinder growth of the market.
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The global Respiratory Inhaler Devices market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.
The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.
The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.
Leading companies operating in the global Respiratory Inhaler Devices market
AstraZeneca, Cipla Ltd., Merck & Co., Inc., GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Medisol Lifescience Pvt. Ltd., Koninklijke Philips N.V., Novartis AG, Philips Healthcare, and 3M.
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The report further sheds light on market segmentation and regional bifurcation.
Respiratory Inhaler Devices Market Segmentation:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Dry Powder Inhaler
- Metered Dose Inhaler
- Compressed Air Nebulizer
- Ultrasonic Nebulizer
- Mesh Nebulizer
Mode of Operation Outlook (Revenue, USD Billion; 2017-2027)
- Digitally Operated Inhaler Devices
- Manually Operated Inhaler Devices
Application Outlook (Revenue, USD Billion; 2017-2027)
- Chronic Obstructive Pulmonary Disease
- Pulmonary Arterial Hypertension
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Key Regional Markets:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key findings in the report:
- Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities
- Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing
- Technological developments and detailed analysis in the volatile competitive landscape.
- New strategies adopted by new and emerging market players
- Estimation about manufactures, sales and import and export dynamics
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