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.
The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
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.