Aerosol is suspension of liquid or solid particles in a carrier gas, which makes use of it for treatment of respiratory system related diseases. Different forms of drugs can be utilized for aerosol therapy such as solid particles, liquid particles, solutions, and suspensions. Until recently, aerosol therapy concentrated primarily on treatment of asthma and COPD for which, pressurized metered-dose inhaler device was used. However, the role of aerosol therapy is expanding beyond the initial focus. This expansion eliminated CFC-based traditional metered-dose inhalers devices. This will ultimately boost the market growth of aerosol therapy in the field of gene therapy, inhalation therapy and vaccination. Aerosol therapy is a natural and easiest way to treat asthma, COPD, cystic fibrosis, and broncho pulmonary dysplasia (BPD). Aerosol therapy is also used to deliver insulin, vaccines of influenza and measles, and pain medications. Aerosol treatment therapy gives an excellent and cost-efficient drug delivery. This therapy is effective for patients who cannot use metered-dose inhalers; primary inhalation devices are produced that guarantee breath-actuated aerosol delivery with minimal side effects.
Aerosol therapy provides a fast and non-invasive way for treatment of lung disorders as the drug is delivered at the receptor site. Effectiveness of the therapy depends on how deeply aerosol particles infiltrate into the bronchial track and where the particles are deposited. A particle size under 2μm is ideal and can permeate up to the peripheral airways. That is why most commercially available aerosol devices produce droplets of roughly this size.
As per the World Health Organization, about half the cases of asthma and COPD are due to hereditary weakness and the other cases are due to environmental factors. The effect of pollution is likely to intensify globally along with industrialization of areas, and increasing the number of vehicles. Current government activities and rising healthcare investments are drivers of aerosol therapy market, which would upgrade over the examination time frame. Increasing prices are major factor that is restraining the growth of the market in terms of value.
The global market for aerosol therapy is segmented on the basis of product type, technology, disease indication, end user and geography:
- Segmentation by product type:
- Dry Powder Inhalers (DPIs)
- Metered Dose Inhalers (MDIs)
- Ultrasonic Nebulizer
- Compressed Air-Jet nebulizers
- Vibrating membrane device
- Segmentation by technology:
- Manually operated
- Digitally operated
- Segmentation by disease indication:
- Segmentation by end user:
- Ambulatory Surgical Centers
Currently metered dose inhaler majorly contributes to the market and is expected to dominate the market over the forecast period. As per the data, COPD is third leading cause of death and fifth leading cause of disability. Also, factors like increasing pollution, improper lifestyles are the factors that drive the growth of the market.
On the basis of regional presence, global aerosol therapy market is segmented into five key regions viz. North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Asthma symptoms were detected in 26 million persons who live in the U.S., of which, 19 million comprise adults and 7 million comprise children. With this rate, North America is expected to dominate the market. Asia Pacific (mostly China and India) market is estimated to grow at a relatively fast rate over the forecast period.
The largest manufacturers of aerosol therapy devices are Merck, Boehringer Ingelheim GmbH, GlaxoSmithKline, and AstraZeneca Plc. In 2001, SmithKline Beecham and GlaxoWellcome merged together and became GlaxoSmithKline, who became a key player in this field. Also, Novartis AGTeva Pharmaceuticals, Opko Health, Omron Healthcare Co., Covidien plc., GE Healthcare Ltd., Philips Healthcare, Agilent Technologies, Inc. Ltd, GF Health Products, Inc. are other important players in this market.
The report covers exhaustive analysis on:
- Aerosol Therapy Segments
- Aerosol Therapy Dynamics
- Historical Actual Market Size, 2013 - 2015
- Aerosol Therapy Size & Forecast 2016 to 2024
- Aerosol Therapy Current Trends/Issues/Challenges
- Competition & Companies involved
- Aerosol Therapy Drivers and Restraints
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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