Inhaler Corticosteroid Device Market Scenario
The Inhaled Corticosteroid Device Market is anticipated to reach USD 874.46 Million by 2030 at 4.90% CAGR during the forecast period 2022-2030.
Asthma is a disease of the entire respiratory tract, including large, intermediate and small airways. Asthma led to inflammation and obstruction of respiratory tract. Patients have various treatment options for asthma, particularly for young and elderly patients. Hence this has led to significant interest on the part of the inhaler device which is easy to use. Inhaled corticosteroid is the most commonly used tool for the treatment of asthma. As with increasing pollution and increasing incidences of asthma, many companies are engaged in the development of new inhaler corticosteroid devices. Hence this factor is responsible for the growth of the inhaled corticosteroid device market.
However, the high cost of treatment, misuse of funding and lack of awareness are some of the factors which are hampering the growth of the market during the forecast period.
The inhaler corticosteroid device market is segmented into types of steroid inhalers, applications, and end-users. Based on types of steroid inhaler the market is segmented into beclomethasone dipropionate, budesonide, fluticasone inhaler powder, mometasone. On the basis of application, inhaler corticosteroid device market is segmented into asthma and COPD (chronic obstructive pulmonary disease), and other respiratory diseases. Based on end-user the market is segmented into hospitals, clinics, and respiratory care centers.
Some of the key players in the inhaler corticosteroid device market are Plumage Therapeutics LLP, Pearl Therapeutic Inc, Teijin LTD, Glaxo’s Advair, LIYEN, Inc, Amgen Inc, Kos Pharmaceutical, Inc, and Teva Pharmaceutical.
Regional Market Summary
Inhaler Corticosteroid Device Market Share, by Region, 2018 (%)
Source: MRFR Analysis
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The inhaler corticosteroid device market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada. The European inhaler corticosteroid device market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The inhaler corticosteroid device market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The inhaler corticosteroid device market in the Middle East and Africa has been segmented into the Middle East and Africa.
In terms of market value, North America will dominate the inhaler corticosteroid device market during the forecast period. Increasing incidences of life-threatening illness such as chronic obstructive pulmonary disease, asthma and many more are some of the factors which are responsible for the growth of the market during the forecast period. The European market is expected to be the second-largest inhaler corticosteroid device market. The market growth in this region can be attributed to government funding and support of the healthcare sector coupled with increasing research and development. Moreover, a growing patient for asthma worldwide, increasing number of qualified physicians for inhaler corticosteroid device center and expanding aging demographics are some of the factors responsible for the rise in inhaler corticosteroid device market. Asia-Pacific is expected to be the fastest-growing market during the forecast period owing to the increasing prevalence of asthma, rising investments in healthcare, increasing geriatric population, and expansions by market players in the region. Asia-Pacific is giving the strong competition in the inhaler corticosteroid device market by producing a cost-effective treatment that is high in demand in local as well as in the global market. The market in the Middle East and Africa is expected to account for the smallest share in the inhaler corticosteroid device market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Market of Inhaler Corticosteroid Device, by Steroid Inhaler Types
- Beclomethasone Dipropionate
- Fluticasone Inhaler Powder
Market of Inhaler Corticosteroid Device, by Application
- COPD (Chronic Obstructive Pulmonary Disease)
Market of Inhaler Corticosteroid Device, by End-User
- Hospitals and Clinics
- Academic and Research Institutes
- Respiratory Care Center
Market of Inhaler Corticosteroid Device, by Region
- North America
- South America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- South Korea
- Rest of Asia-Pacific
Middle East & Africa
- Hospitals and clinics
- Laboratories and associations
- Healthcare providers
- Medical device manufacturers
- Research institutes and academic centers
- Government associations
- Market research and consulting
Inhaled Corticosteroid Device Market Highlights:
Frequently Asked Questions (FAQ) :
The projected CAGR would be 4.90% for the inhaled corticosteroid device market.
The inhaled corticosteroid device market would face challenges in the form of high treatment costs, funding complications, and lack of awareness.
The types are budesonide, fluticasone inhaler powder, beclomethasone dipropionate, and mometasone.
The players are Pearl Therapeutics Inc, Kos Pharmaceutical, Inc, Plumage Therapeutics LLP, Glaxo’s Advair, Teijin LTD, Amgen Inc, LIYEN, Inc, and Teva Pharmaceutical.
The North American market would lead the global charge.
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