Global Respiratory Inhaler Market: Brief Account
Over the years various inhalation therapy had been used in parts of the world. Proven records of such practices have been found. However, in recent time’s advent of respiratory inhaler devices have proved to be a live savior for hundreds of millions. Respiratory inhaler device is a medical device which is used to help a patient encountering several breathing problems due to respiratory disorders such as asthma, COPD, ARDS, fibrosis, and others. Significant rise in air pollution due to emission of harmful particles from various factories and emission of carbon from vehicles have increased the chance of encountering with breathing problems in individuals. Rise in uptake of harmful habits such as smoking and drinking alcohol have triggered various pulmonary diseases across the world, thus resulting in high demand for respiratory inhaler devices.
One of the major reason that is playing a pivotal role in supporting the market growth is the surge in geriatric population all over the world. Most of old people due to lack of immunity tend to develop pulmonary and chronic diseases, which is positively impacting the market growth.
Global Respiratory Inhaler Market: Trends and Opportunities
Rising cases of respiratory diseases such as asthma and chronic obstructive throughout the globe is anticipated to boosts the respiratory inhaler market. According a report by World Health Organization (WHO), in 2015, around 383000 people died due to asthma. This figure clearly shows rising cases of asthma, which will propel the respiratory inhaler device manufacturers to increase their production rate in order to meet the growing demand. Apart from this, rise in air pollution level throughout the world due to wild fire in forest, increasing number of vehicles, and rising number of factories are prognosticated to help the respiratory inhaler market to climb up the growth ladder. Approvals of various respiratory inhaler products in recent time is expected to flourish the market during the tenure period 2018 – 2026.
Constant innovation of respiratory inhaler and use of medication sensor that finds its way to send information directly to a smart device such as PC or smartphone is likely to attract people owing to its convenience. This advancement in technology to have a positive impact on the global respiratory inhaler market in coming years. Numerous initiatives undertaken by government of various countries to prevent respiratory diseases by spreading awareness regarding the symptoms and availability of new treatment is foreseen to help the market grow hastily.
On the other hand, lack of knowledge of device use along with administration protocols are expected to pull down the market drastically. Furthermore, high costs of inhalers are considered to be another reason for the market to witness a downfall in coming years.
Global Respiratory Inhaler Market: Regional Analysis
On the basis of geography, the market is segmented into Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Of these, North America holds the major share and is predicted to continue holding the major share in coming years owing to rise in asthma cases and presence of established players in the region. However, analysts expects that Asia Pacific to see a strong demand in respiratory inhaler devices in coming years due to rise in geriatric population, increasing awareness regarding pulmonary diseases, and rising healthcare spending.
Global Respiratory Inhaler Market: Companies Mentioned
Some of the key players in the market are Beximco Pharmaceuticals Ltd., Cipla Ltd., Koninklijike Philips N.V., OMRON Healthcare Europe B.V., GlaxoSmithKline plc, and AstraZeneca.
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