Respiratory Inhaler Devices Market Set to Record Exponential Growth by 2027

Future Market Insights delivers key insights and presents a revised forecast of the global respiratory inhaler devices market for a 10 year period from 2017 to 2027 in the report titled “Respiratory Inhaler Devices Market: Global Industry Analysis 2012–2016 and Opportunity Assessment 2017–2027.” The revisions in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants. The global respiratory market is projected to expand at a healthy CAGR of 4.2% in terms of value during the forecast period, revised from the previous CAGR of 4.3%.

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The report has segmented the global respiratory inhaler devices market on the basis of region into North America, Western Europe, Eastern Europe, Latin America, Asia Pacific Excluding Japan (APEJ), Middle East & Africa and Japan. This report assesses trends driving each segment and offers analysis and insights about the potential of respiratory inhaler devices market in specific regions. North America is estimated to dominate the respiratory inhaler devices market with maximum market share by end of 2017. North America and Western Europe are collectively expected to account for over 64.4% of the total respiratory inhaler devices market share in terms of value by end of 2017. Asia Pacific excluding Japan is estimated to witness highest CAGR of 4.5% over the forecast period, followed by North America, due to increasing prevalence of asthma and COPD among children and the geriatric population. Presence of key regional players, strong distribution network, and developed healthcare infrastructure are the key factors driving the growth of the market in North America.

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Key Players

Some key companies covered in this report include AstraZeneca, Boehringer Ingelheim GmbH, GlaxoSmithKline plc, Cipla Ltd., Koninklijke Philips N.V., PARI Medical Holding, Teva Pharmaceutical Industries Ltd., Beximco Pharmaceuticals Ltd., OMRON Healthcare Europe B.V. and Merck & Co., Inc. Their primary focus is towards enhancing their product portfolio through research and development, introduction of innovative and cost-effective drugs and medical devices in order to gain market share and to strengthen their respective position in the global market.

Market Dynamics

Other trends driving growth include strategic alliances among key players in the market, manufacturers focusing on enhancing market share, and expansion of the healthcare sector in developing countries due to growing investments by major players. In addition, surge in demand for respiratory inhaler devices in all acute and moderate asthma and COPD conditions owing to increasing health awareness and growing disposable income is projected to result in increased spending on respiratory inhaler devices. This in turn is expected to bolster respiratory inhaler devices market growth during the forecast period (2017–2027).

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This release was published on openPR.