Aerosol Delivery Devices Market is Generating Revenue of $46.72 Billion by 2027, at CAGR 4.9% Growth Rate

Aerosol Delivery Devices

Increase in geriatric population, and rise in patient awareness toward inhalation therapy are the other factors that contribute to the growth of the market.

Increase in air pollution, advantages over conventional drug delivery devices, rise in prevalence of COPD & asthma, and surge in the number of government initiatives drive the growth of the market.”

— Mangesh Panhale

PORTLAND, OR, UNITED STATES, October 20, 2020 /EINPresswire.com/ — The report on the global aerosol delivery devices market highlights that the market is expected to reach $31.46 billion by 2019, from $46.72 billion in 2027 growing at a CAGR of 4.9% from 2020 to 2027. The report offers the current market size and forecasts along with Porter’s Five Forces analysis to help market players, stakeholders, startups, and investors to determine the current scenario and take further steps for the future. Drivers and opportunities for highest revenue generating and fastest growing segments would help in tapping into specific segment to achieve growth. Moreover, regional analysis would assist in expansion strategies for the market players and startups.

Drivers, restraints, and opportunities-

Increase in air pollution, advantages over conventional drug delivery devices, rise in prevalence of COPD & asthma, and surge in the number of government initiatives drive the growth of the global aerosol delivery devices market. On the other hand, high cost of asthma & COPD treatments curbs the growth to some extent. However, several growth opportunities in emerging markets have proved to be beneficial for the industry.

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COVID-19 impact-

• COVID-19 that is named after severe acute respiratory syndrome has increased the demand for aerosol delivery devices across the world, as aerosol therapy is believed to be a mainstay formula used to treat pulmonary infections at home and healthcare setups.
• However, delivering aerosolized medications to patients with novel coronavirus can even worsen the spread of the virus. Thus, effective strategies for a safe delivery of aerosolized medications to patients with COVID-19 are being taken care of.

The metered dose inhaler segment to lead the trail by 2027-

Based on product, the metered dose inhaler segment accounted for more than half of the global aerosol delivery devices market share in 2019 and is expected to rule the roost by 2027. This is attributed to rise in incidences of asthma, COPD, and cystic fibrosis, surge in patient awareness toward effective & advanced respiratory devices, and launch of effective products, which are tested under clinical trials by various companies to ensure better therapeutic outcomes. The nebulizer segment, on the other hand, would portray the fastest CAGR of 5.9% during the study period, owing to increase in demand for home healthcare devices, rise in incidence rate of chronic respiratory diseases, surge in geriatric population, and technological advancements in nebulizers.

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The asthma segment to dominate during the estimated period-

Based on application, the asthma segment contributed to more than half of the global aerosol delivery devices market revenue in 2019 and is projected to retain its dominance by the end of 2027. Increase in the awareness of patients about lung diseases, surge in demand for metered dose inhalers (MDIs), and rise in prevalence of asthma globally propel the segment growth. Simultaneously, the non-respiratory diseases segment would manifest the fastest CAGR of 7.4% throughout the forecast period. This is due to rise in prevalence of non-respiratory diseases such as diabetes, analgesia, and Parkinson's disease, and increase in demand for aerosolized insulin.

North America to rule the roost-

Based on geography, North America generated the major share in 2019, holding more than two-fifths of the global aerosol delivery devices market. This is attributed to surge in demand for aerosol delivery devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities, large presence of key players, and surge in investments made by government in North America's healthcare system. Asia-Pacific, on the other hand, would grow at the fastest CAGR of 6.4% till 2027. The developing healthcare infrastructure and large population base susceptible to asthma and COPD drive the market growth in the region.

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The Major Key Players Are:

3M Company, 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, Gerresheimer AG, Heitkamp & Thumann KG (H&T Presspart), Iconovo AB, Merxin Ltd, and Nemera.

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Source: EIN Presswire