In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Dry powder inhaler is referred to a device that helps to deliver medication to the lungs in the form of dry powder. Dry powder inhaler is widely used to treat respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD) and others. Dry powder inhaler is very easy and convenient way to deliver medicine into human being.
The global dry powder inhaler market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, the market of dry powder inhaler is riding on the back of various factors such as growing prevalence of respiratory diseases such as asthma and others. Moreover, rising demand for advanced healthcare devices for the treatment of chronic diseases is envisioned to boost the demand for dry powder inhaler.
On the basis of application, the global dry powder inhaler market is segmented into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, cardiovascular disease, diabetes and others. Moreover, asthma segment captured the largest market of overall dry powder inhaler market in 2016. Likely, this growth of asthma segment is attributed to the growing asthma affected population.
In terms of regional platform, North America is expected to capture the largest share of the global dry powder inhaler market as they are early adopters of advance healthcare technologies. Additionally, U.S. is anticipated to be the major contributor towards the growth of dry powder inhaler market owing to increasing research and development activities related to healthcare devices. Moreover, presence of major key players of dry powder inhaler such as Mannkind Corporation is believed to flourish the growth of dry powder inhaler market in North America region.
Europe region accounted the second largest market of dry powder inhaler in terms of revenue in 2016. Moreover, increasing asthma patients and rising government healthcare investment are the factors propelling the growth of dry powder inhaler market in Europe region. Asia-Pacific region is expected to showcase a highest CAGR over the forecast period due to emerging economies nations such as China and India. Moreover, Japan and China are the dominating country in this region owing to growing geriatric population and rising disposable income of the population.CLICK TO DOWNLOAD FREE SAMPLE
Our in-depth analysis segmented the global dry powder inhaler market in the following segments:
Global dry powder inhaler market is further classified on the basis of region as follows:
Factors such as growing adoption of unhealthy lifestyle, rising geriatric population, rising exposure to smoke & chemicals and increase in the prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD and others are believed to be the dynamic factor behind the rapid growth of dry powder inhaler market across the globe. Further, favorable government initiatives to improve healthcare infrastructure is envisioned to bolster the growth of dry powder inhaler market by the end of 2024.
Moreover, rising disposable income along with increasing adoption of innovative healthcare devices is predicted to fuel the growth of dry powder inhaler market. Likely, rapid urbanization and growing GDP figures of the developed and developing nations are also projected to flourish the growth of dry powder inhaler market. In addition to this, rising healthcare expenditure across the globe is also believed to elevate the growth of dry powder inhaler market.
However, lack of awareness regarding dry powder inhaler is expected to hamper the growth of dry powder inhaler market over the forecast period.
The major key players for dry powder inhaler market are as follows