Overview of the US Inhalation Systems Market
Infoholic’s market research report predicts that the US inhalation systems market will grow at a CAGR of 5.8% during the forecast period 2018–2024. The major drivers in The US inhalation systems market are driven by an upsurge in the prevalence of respiratory diseases, increasing geriatric population, and favorable reimbursement. However, side effects allied with the drug inhalation and unattainability of single effective inhaler device that can treat many disease conditions may slow down the growth of the market in the US.
The emergence of inhaled drug therapy has been a boon for patients with respiratory conditions such as COPD and asthma because of its painless and flexible administration when compared to injections. There are various kinds of inhalation systems available in the market, and these include inhalers and nebulizers. The two most commonly widespread respiratory diseases are asthma and COPD. According to WHO, around 235 million people are currently suffering from asthma, and it is very common in children. Chronic respiratory diseases such as asthma and COPD are responsible for substantial financial and health burden in the US, and in 2015, 6.7% deaths in the US were due to chronic respiratory diseases. Chronic obstructive pulmonary disease is the third leading cause of death across the globe, accounting for approximately 3 million deaths in 2016. State of West Virginia has the highest prevalence of COPD, and around 12% of the population are diagnosed with COPD.
Competitive Analysis and Key Vendors
There is an increase in approvals in recent years due to the popularity of the systems and also drug companies are launching new inhalation systems and collaborating with other vendors to develop innovative devices in the market. For instance, in February 2017, FDA approved two products developed by Teva Pharmaceutical Industries Ltd., ArmonAir RespiClick and AirDuo RespiClick, to treat adolescent and adult patients with asthma. In October 2017, FDA approved new inhalation device, named TD-300/A developed by United Therapeutics Corporation, for use with Tyvaso Inhalation Solution. The first triple combination inhaler named Trimbow launched for COPD in August 2017 and in February 2018, Teva Pharmaceutical Industries Ltd. announced the commercial availability of QVAR RediHaler Inhalation Aerosol to patients in the US.
Some of the key vendors in the market are:
- Omron Corp.
- Boehringer Ingelheim GmbH
- PARI GmbH
- Philips Healthcare
Other vendors in the US inhalation systems market are AptarGroup, Inc., Agilent Technologies, Inc., AstraZeneca Plc, Teleflex Incorporated, Inspiro Medical Ltd., Teva Pharmaceutical Industries Ltd., Monaghan Medical Corporation, GlaxoSmithKline plc, Becton Dickinson and Company are some of the key players in the US inhalation systems market.
Segmentation of products
The market by inhalers type is further segmented into dry powder inhalers and metered dose inhalers. The market by nebulizers is segmented into ultrasonic nebulizer, pneumatic nebulizer, and mesh nebulizer. Inhalers occupied a major market share in 2017 and nebulizers segment is anticipated to grow at a high CAGR during the forecast period. The extensive usage of inhalers in the treatment of various respiratory illness such as asthma, chronic obstructive pulmonary disorder, and others makes the segment the major shareholder.
Segmentation of applications
- Chronic obstructive pulmonary disease (COPD)
Asthma occupied a major market share in 2017 and COPD is expected to grow at the highest rate in the next five years in the US inhalation systems market.
Segmentation of end-users
- Ambulatory Surgical Centers (ASCs)
- Home care Centers
Hospitals occupied a major market share in 2017 in the US inhalation systems market, but home care segment is expected to grow during the forecast period due to ease in the usage of modern products, less homecare cost, and the obtainability of reimbursement.
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The report provides detailed information about the usage and adoption of US inhalation systems market in various therapeutic verticals. With that, key stakeholders can find out the major trends, drivers, investments, and vertical player’s initiatives. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Additionally, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the US inhalation systems market.