According to a new report published by Allied Market Research, titled, “Aerosol Delivery Devices Market by Product, Application, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027,” the global aerosol delivery devices market was valued at $31,464 million in 2019, and is projected to reach $46,729 million by 2027, registering a CAGR of 4.9% from 2020 to 2027.
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Key Findings Of The Study
- By product, the metered dose inhalers segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
- On the basis of application, the asthma segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
- According to distribution channel, the e-commerce segment exhibits fastest growth, and is expected to grow at a CAGR of 9.3% from 2020 to 2027.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.4% during the forecast period.
North America accounted for 41.16% of the global aerosol delivery devices market share in 2019, and is expected to remain dominant throughout the forecast period. This was attributed to increase in number of asthma and COPD patients; higher healthcare awareness; early detection of respiratory diseases; availability of advanced healthcare facilities with trained medical professionals; rise in number of R&D activities, coupled with large presence of key players; and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience highest growth during the forecast period, owing to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, rise in healthcare reforms, and technological advancements in the field of healthcare.
Key Market Segments
- By Product
- Dry powder inhalers
- Metered dose inhalers
- Nebulizers
- By Application
- Asthma
- Chronic obstructive pulmonary
- disease
- Cystic fibrosis
- Non respiratory diseases
- Diabetes
- Analgesia
- Parkinson’s disease
- By Distribution Channel
- Retail pharmacies
- Hospital pharmacies
- E-commerce
Covid – 19 impact on Aerosol delivery devices market
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. There are no drugs that are currently licensed for COVID-19 treatment or prevention. Increase in number of R&D activities and rise in use of aerosol delivery devices in clinical studies to develop medicines for treatment of COVID-19 is anticpated show positive impact on the market. For instance, Synairgen a UK-based respiratory drug discovery & Development Company launched home-based clinical trial of its inhaled IFN-β1a solution (SNG001) in patients with COVID-19.The dry powder inhalers (DPI) segment will show significant aerosol delivery devices market growth during the forecast period, owing to rise in demand for DPI, surge in patient awareness toward effective & advanced respiratory devices, advancements in DPI drug delivery, and launch of cost effective products.
Key Market Players
- 3M COMPAN
- AEROGEN, INC.
- GLAXOSMITHKLINE PLC (GSK)
- JOHNSON & JOHNSON (ACTELION PHARMACEUTICALS LTD)
- KONINKLIJKE PHILIPS N.V.
- MERCK & CO., INC.
- METALL ZUG GROUP (CLEMENT CLARKE INTERNATIONAL LTD)
- RECIPHARM AB (BESPAK)
- TEVA PHARMACEUTICAL INDUSTRIES LIMITED
- VECTURA GROUP PLC
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