Aerosol Therapy Market is expected to exceed the market valuation of more than US$ XX billion in 2027 and is expected to grow at a significant CAGR of XX% during the forecast period (2021-2027). Aerosol therapy is the technique used to administer medication directly into the lungs and its airways. It is usually a suspension of liquids of solids administered using a medical device such as an inhaler. The Medical device converts the medication into fine aerosol particles that can be inhaled or directly propelled into the airway and lungs. The most used inhalation medications are bronchodilators and corticosteroids. The main respiratory disorders that are currently cured using aerosol therapy include: Asthma, COPD, Bronchiectasis, cystic fibrosis, pulmonary arterial hypertension, and infectious pulmonary diseases. The novel macromolecular medications are taking aerosol therapy a step further and the therapy is being tested for non-respiratory diseases like diabetes, analgesia, and thyroid as well.
Key factors influencing the aerosol therapy market growth include increasing urbanization and deforestation which is increasing respiratory diseases around the world. For example, 3.8 million people in Canada had asthma and 2.0 million had chronic obstructive pulmonary disease (COPD) in 2018. Respiratory diseases also lead to lost productivity and healthcare costs. The increasing burden of these diseases need a fast intervention by increasing better treatment. The increasing aerosol therapy market will be able to make this possible. Apart from respiratory disorders, aerosol therapy is expanding to include gene therapy, vaccinations etc. Growing technological advancements is also influencing the growth in the aerosol therapy market.
Merck, Boehringer Ingelheim, GlaxoSmithKline, AstraZeneca, Novartis, Teva Pharmaceuticals, Opko Health, Omron Healthcare, Medtronic, GE Healthcare are some of the prominent players operating in the Aerosol Therapy market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product, Nebulizers segment holds the major share”
Based on product, the aerosol therapy market can be segmented into dry powder inhalers, metered dose inhalers and nebulizers. These segments can then further be sub segmented into single dose inhalers and multi dose inhalers of dry powder inhalers; conventional pressurized inhalers and soft mist inhalers of metered dose inhalers; and jet nebulizers, ultrasonic wave nebulizers, and vibrating mesh nebulizers of nebulizers. The nebulizers segment had the highest CAGR in the forecasted period on account of its ability of use in all age groups. In the past few years various types of nebulizers have been introduced.
“Amongst Application, Asthma segment holds the major share”
Based on application, the aerosol therapy market is segmented into asthma, chronic obstructive pulmonary disease, cystic fibrosis, and non-respiratory diseases, which include diabetes, analgesia and parkinson’s disease. Asthma and COPD are the most treated disorders with aerosol therapy. The asthma segment had the highest CAGR value in the application segment. Asthma is highly prevalent around the world and effect 262 million people in 2019. Asthma is a long-term condition where the air passages in the lungs are partially blocked due to inflammation and muscle tightening. Symptoms of asthma include wheeze, cough, shortness of breadth and tightness in chest.
“Amongst End-User, Transmission & Distribution segment holds the major share”
Based on end-user, the aerosol therapy market is segmented into hospitals, clinics, ambulatory surgical centers, and individuals. The most common end-users are hospitals and individuals. Every year there are approximately 800,000 hospitalizations for Chronic obstructive pulmonary disease (COPD) in the United States which is the third leading cause of death in the country. Additionally, 500,000 hospitalizations for asthma occur yearly and effects about 24 million Americans. Treatments for both COPD and asthma have similar protocols which have been well established over the years.
“North America represents one of the largest markets of Aerosol Therapy market”
For a better understanding of the market dynamics of the Aerosol Therapy market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. North America dominated the market and grabbed around XX% market share owing to technological advancements.
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