New FMI Report Explores Impact of COVID-19 Outbreak on Dry Powder Inhaler Market
VALLEY COTTAGE, N.Y. – According to Future Market Insights, the global market for dry powder inhaler is slated to exhibit a CAGR of nearly 4% during the forecast period (2017-2026), in terms of volume. Over 4000,000 Mn units of dry powder inhaler are pegged to be sold across the globe by 2026-end.
Challenges Regarding Varying Characteristics of Dry Powder Inhalers to Pave Opportunities for Medical Device Manufacturers
Regulatory pressures and changes in drug delivery market have driven innovation of the dry powder inhaler forward. According to the World Health Organization (WHO), nearly 300 Mn people worldwide are affected by asthma, and approximately 240 Mn from the chronic obstructive pulmonary disease (COPD). Over half of these patients combined prefer use of dry powder inhalers for treatment of their disease. These devices have depicted great potential in effective and reliable drug delivery, with novel designs ensuring the possibility to overcome future compliance, cost, and safety challenges.
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Some of the essential performance characteristics regarding dry powder inhalers are associated with dose-delivery, performances at varying airflows, and fine particle fraction content. These characteristics may vary with respect to powder formulations, creating the need for fine tuning of the device or powder formulation or both combined for achieving optimal performance. The requirement is particularly high in micro-dosing dry powder inhalers, which in turn is paving opportunities for medical device manufacturers in terms of innovations and advancements.
Growing adoption of unhealthy lifestyle, increasing geriatric population, and growing air pollution levels fuelling prevalence of various respiratory disorders are key factors driving expansion of the global dry powder inhaler market. In addition, favorable government initiatives being taken across the globe for improving the healthcare infrastructure will further influence the market growth in the near future. However, the fact that dry powder inhalers are not moisture-resistant remains a major challenge for manufacturers, as the medicine loses its properties when it comes in contact with the moisture.
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Availability of effective alternatives such as nebulizers and electric pumps are expected to restrain adoption of dry powder inhalers. Lack of awareness regarding these devices in low-income & underdeveloped countries may further hinder the market growth to a certain extent.
Key Research Findings from FMI’s Report on Dry Powder Inhaler Market
North America will continue to be the most lucrative region for growth of the dry powder inhaler market. Dry powder inhaler sales in the region will register the fastest expansion through 2026. Asia-Pacific excluding Japan (APEJ) is expected to be the second largest market for dry powder inhaler.
Hospital pharmacies will continue to be the leading distribution channel for dry powder inhalers, with sales pegged to surpass 150,000 Mn units by 2026-end.
Dry powder inhalers will continue to observe the largest application in the treatment of asthma, followed by chronic obstructive pulmonary disease. In addition, sales of dry powder inhalers for application in the treatment of asthma and pulmonary arterial hypertension are slated to exhibit a parallel growth through 2026.
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Leading companies in the global dry powder inhaler market are focusing on the development of new generation products. These market players are making huge investments in R&D activities associated with novel device architectures, particle engineering, and powder formulations. Development of improved particle properties, along with efficient inhaler designs is expected to remain key strategies among the market players. Key market participants profiled in the report include –
- Vectura Group Plc
- MannKind Corporation
- Chiesi Farmaceutici S.p.A.
- Boehringer Ingelheim GmbH
- Teva Pharmaceutical Industries Limited
- Cipla Ltd.
- Novartis AG
- GlaxoSmithKline Plc
- 3M Company
- Astrazeneca Plc.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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