Global Inhaled Corticosteroid Device Market, by Types of Steroid Inhalers Beclomethasone Dipropionate, Budesonide, Fluticasone, Mometasone, and Others, by Application Asthma, COPD, and Others, by End-Users Hospitals and Others – Forecast Till 2023
Increasing incidence of diseases such as asthma, respiratory diseases are some of the drivers responsible for the market growth of global inhaler corticosteroid device market.
Other factors such as growing use of inhaler corticosteroid device center worldwide, expanding aging population with respiratory disorders, increasing number of qualified physicians for respiratory disorders are responsible for the rise in global inhaler corticosteroid device market. The main objective of the inhaler corticosteroid device is its easy use of the device for the children and geriatric population. This inhaler corticosteroid device can be provided at any age and at any phase in a genuine ailment and can be furnished alongside remedial treatment.
But the high cost of treatment, less private or public funding to hospital facilities and other respiratory centers can be a major restraint for the growth of global inhaler corticosteroid device market.
The Global 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 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, respiratory care centers.
Some of the key players in the global 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.
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 global inhaler corticosteroid device market. Asia-Pacific is expected to be the fastest-growing inhaler corticosteroid device 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 global 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 global inhaler corticosteroid device market due to the underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
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