Inhalation Systems Market Foreseen to Grow Exponentially by 2024
The inhalation therapy had been practiced by ancient civilizations in Egypt, India, Greece, and China. Proven records of use of the therapy for thousands of years are available. In order to resolve respiratory issues, the pulmonary method of administration has been effective in terms of confined and systemic supply of several drugs and biopharmaceuticals. The only reason for the lack of desired outcome or an unfavorable effect is inappropriate utilization of devices and improper training for handling of devices. At present, inhalation therapy is considered the best solution for lung diseases such as chronic obstructive pulmonary disease (COPD), asthma, and cystic fibrosis. The therapy permits the use of smaller doses and reduces systemic side-effects. Chronic obstructive pulmonary disease (COPD) is ranked by the World Health Organization (WHO) as one of the most prevalent long-term conditions in the world. The global burden of COPD is projected to rise in the near future, particularly in developing countries, due to increasing elderly population, growing habit of smoking, and rising pollution. Rising incidence of pulmonary diseases across the globe is a major factor fueling the global inhalation systems market.
The global inhalation systems market is primarily driven by rising prevalence of COPD, asthma, and chronic respiratory diseases; growing geriatric population facing chronic respiratory problems; and changing lifestyle. Moreover, introduction of novel and advanced pulmonary devices in customized shapes and sizes, availability of auto-injectors, and rise in research and developmental activities by pharmaceutical and biotechnology companies in order to develop novel oral and nasal drug formulations are some of the other important factors likely to drive the market from 2017 to 2025. However, complications and side-effects associated with drug inhalation, unavailability of a single effective inhaler device that can treat multiple disease indications, and lack of awareness are other factors restraining the market. Health care at home, campaigning by manufacturers and hospitals to increase awareness about respiratory diseases, and technological advancements are the current trends in the market for inhalation systems.
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The global inhalation systems market has been segmented based on product, disease indication, end-user, and geography. Based on product, the market has been segmented into inhalers, nebulizers, nasal sprays, and others. The inhalers segment has been sub-divided into dry powder inhalers (DPIs), metered dose inhalers (MDIs), and multi-dose liquid inhalers. The nebulizers segment has been sub-segmented into ultrasonic nebulizers, compressed air-jet nebulizers, mesh nebulizers, and others. In terms of revenue, the inhalers segment is anticipated to hold a major share of the global inhalation systems market by 2025. It is expected to dominate the market from 2017 to 2025.
In terms of disease indication, the global inhalation systems market has been divided into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, anesthesia, nasal congestion, and others. According to a study conducted by the World Health Organization (WHO), chronic obstructive pulmonary disease was found to be the fifth cause of deaths globally in 2002 and is projected to be the fourth cause of mortality by 2030. Moreover, according to the WHO estimates, 65 million people have moderate to severe COPD. More than 3 million people died of COPD in 2005, which equaled to 5% of all deaths worldwide. Rising awareness about COPD and technological advancements in product offerings are major factors expected to fuel the COPD segment during the forecast period.
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Based on end-user, the global inhalation systems market has been segmented into hospitals & clinics, ambulatory surgery centers, home care centers, and others. Among these, the home care centers segment is expected to register the maximum growth rate during the forecast period, owing to rising geriatric population, increasing per capita expenditure, and growing awareness about respiratory diseases. A survey conducted by the Healthcare First organization concludes that more than 3.4 million people in the U.S. receive Medicare skilled home health care services, due to rising elderly population and increasing incidence of chronic health conditions in the country. Geographically, the global inhalation systems market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market in the near future. The market in the region is likely to witness significant growth during the forecast period, owing to affordability of advanced products and rising prevalence of lifestyle-related diseases.
Key players operating in the global inhalation systems market are 3M, Boehringer Ingelheim GmbH, AptarGroup, Inc., Koninklijke Philips N.V., PARI GmbH, Trudell Medical International, Teleflex Incorporated, INSPIRO Medical Ltd., ALEXZA, and Monaghan Medical Corporation.
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