Portland, OR , Sept. 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global aerosol delivery devices market generated $31.46 billion in 2019, and is anticipated to reach $46.72 billion by 2027, growing at a CAGR of 4.9% from 2020 to 2027.
Rise in air pollution, increase in government initiatives, and surge in prevalence of COPD and asthma drive the growth of the global aerosol devices market. However, high cost of asthma and COPD treatment and lack of access in underdeveloped countries hamper the market. On the contrary, untapped opportunities in the developing markets are expected to create lucrative opportunities for the market players in the coming years.
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Covid-19 scenario:
- Since the Covid-19 outbreak, there is a significant increase in the demand for aerosol delivery devices across the world, as the aerosol therapy is said to be a mainstay formula to treat pulmonary infections at home.
- However, there is disruption in supply chains and lack of raw material for manufacturing these devices. Moreover, there is a fear of infection during delivery to patients with Covid-19.
The global aerosol delivery devices market is divided on the basis of product, application, distribution channel, and geography. Based on product, the market is categorized into dry powder inhalers (DPIs), metered-dose inhalers (MDIs), and nebulizers. The nebulizer segment is expected to manifest the highest CAGR of 5.9% during the forecast period. However, the metered-dose inhaler segment dominated the market, contributing to more than half of the market.
On the basis of application, the market is classified into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and non-respiratory diseases. The non-respiratory disease segment is expected to register the highest CAGR of 7.4% during the study period. However, the asthma segment held the lion’s share, accounting for more than half of the total revenue.
Based on distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, and e-commerce. The global aerosol delivery devices market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to register the highest CAGR of 6.4% during the forecast period. However, the market across North America held the largest share in 2019, contributing to two-fifths of the market.
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The global aerosol delivery devices market report includes an in-depth analysis of the major market players such as 3M Company, Glaxosmithkline Plc (GSK), Aerogen, Inc., Koninklijke Philips N.V., Johnson & Johnson (Actelion Pharmaceuticals Ltd), Metall Zug Group (Clement Clarke International Ltd), Merck & Co., Inc., Teva Pharmaceutical Industries Limited, Recipharm AB (Bespak), Gerresheimer AG, Vectura Group PLC, Iconovo AB, Heitkamp &Thumann KG (H&T Presspart), Merxin Ltd, and Nemera.
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