An aerosol delivery device is a method of drug administration in which the drug is directly delivered to the lungs, thereby offering a systemic effect. The device is frequently used in the treatment of respiratory diseases such as asthma, COPD and non-respiratory diseases such as diabetes, analgesia and Parkinson’s disease.
The global aerosol delivery device market size was USD 32.09 Bn in 2019 and expected to reach USD 51.40 Bn by 2027; this converts into a compound annual growth rate (CAGR) of 6.1% for the forecast period.
The International Monetary Fund (IMF) predicted a decline of approximately 5% YoY in global economic output as a result of the measures put in place to combat the pandemic. The easing of global lockdowns coupled with expansionary monetary and fiscal policy seemed to have reduced the impact towards the end of 2020. The global pharmaceutical market witnessed a decline in volume growth during 2020 whereas the sector registered an overall growth of close to 2% in the previous year. In 2019, emerging markets expanded at a higher rate than industrialized nations. However, the pandemic had a dramatic effect on these markets. The fall of the U.S. dollar as against the Euro softened the blow of the pandemic for numerous pharmaceutical companies headquartered in the European region. Also, the drop in oil prices reduced the costs of various raw materials such as polyethylene, polypropylene, etc., thereby reducing the production expenses. Overall, the pharma sector witnessed growth in the European market while there was a slight decrease in revenues from the North American and emerging market.
The metered-dose inhaler segment accounted for nearly 55% of the market share and in terms of revenue collected around USD 18 billion in 2019. Rising incidences of respiratory diseases such as asthma, COPD, cystic fibrosis, etc., growing awareness among patients towards these devices, technological advancements that improve the devices’ efficacy and many more have created an upsurge in demand for metered-dose inhalers. However, since nebulizers are providing better and faster relief even in severe cases, the segment is estimated to witness during the forecast timeline, a CAGR of close to 8%.
Several factors have led to the dominance of the asthma segment in 2019. These include the increase in air pollution, rise in active smoking population, surge in awareness toward respiratory diseases, growth in geriatric population, and an increase in asthma incidences globally. As a result, the segment garnered over USD 17 billion in revenue i.e., more than one-half of the market share in its category. Nevertheless, the cystic fibrosis segment is predicted to register a CAGR of approximately 9% during the forecast period.
The retail pharmacy segment dominated the global aerosol delivery device market in 2019. Since these are the oldest and conventional methods of procuring medical supplies, the segment accounted for about 60% of the market share. It accumulated more than USD 20 billion in revenue in 2019. However, the rapid expansion of the e-commerce sector is fuelling the growth of the segment at a compound annual growth rate of nearly 11% between the forecast years.
Based on geography market is segmented as below:
North America led the global aerosol delivery device market in 2019. The region is home to some of the major companies that push for the growth of the market in the region. Besides this, an increase in the smoking population, availability of devices, and awareness among patients is further boosting the market growth. The surge in R&D activities is estimated to drive the demand for aerosol delivery devices in the region.
Asia-Pacific has the potential to expand at a substantial rate due to the increase in healthcare expenditure. Additionally, an increase in air pollution levels and a rise in the prevalence of chronic diseases will have a positive influence on the regional market.
One of the vital contributors driving the aerosol delivery device market is the increase in air pollution globally. Rising air pollution increases the risk of contracting respiratory diseases. An increase in the number of incidences of COPD and asthma will have a positive impact on the market. The surge in government initiatives to spread awareness regarding aerosol devices is another factor aiding the growth of the market.
However, on the contrary, the soaring costs may deter numerous patients from using these devices. Moreover, the limited or lack of access in underdeveloped nations due to either dearth of devices or lack of knowledge may severely restrict market expansion.
Countries such as China, India, Japan, and others, provide lucrative opportunities for the expansion of the market. The growing demand for better healthcare and the increase in disposable income especially in the Asia – Pacific region may open doors for the market.
1) Iconovo partnered up with Immune System Regulation AB (ISR) for the development of an inhaled COVID-19 vaccine using Iconovo’s inhaler ICOone, in March 2021.
2) In January 2021, Aerogen Inc. announced the establishment of a new manufacturing operation in Shannon. The company will be partially utilizing the former Molex facility that is currently owned by United Metals.
3) Vectura Group PLC, announced its global out license and development agreement with Kinaset Therapeutics Inc. in December 2020. This agreement aims at the development and commercialization of VR588, a preclinical inhaled pan-JAK inhibitor intended for the prevention and treatment of severe asthma.
4) On February 2020, Nemera’s Safe n Spray device received the award for the best innovation in drug delivery device at Pharmapack 2020. The device consists of child-resistant and locking features. It monitors the drug delivered and prevents overdosing with the help of reusable electronic lock and fingerprint identification.
How big is the global aerosol delivery device market?
The market size was USD 32.09 Bn in 2019 and expected to reach USD 51.40 Bn by 2027.
What is the estimated market growth?
The market is expected to grow at a compound annual growth rate (CAGR) of 6.1% during the forecast period.
Which geography accounted for the largest market share?
In the base year, North America held the largest geographic share of the market.
Which geography is lucrative for investments in global aerosol delivery device market?
With the highest growth-rate, APAC is the most lucrative region for investments.
By product segmentation, which is the fastest growing sub-segment?
Nebulizer is the fastest growing sub-segment when analysing the market by product.
Who are the key players in the global aerosol delivery device market?
Key players include, but not limited to:
3M Company, Aerogen Inc, Glaxosmithkline Plc (GSK), Johnson & Johnson (Actelion Pharmaceuticals Ltd), Koninklijke Philips N.V., Merck & Co., Metall Zug Group (Clement Clarke International Ltd), Recipharm AB (Bespak), Teva Pharmaceutical Industries Limited, Vectura Group PLC.
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Chapter 1. Research Objective
1.1 Objective, Definition & Scope
1.2 Methodology
1.2.1 Primary Research
1.2.2 Secondary Research
1.2.3 Market Forecast - Estimation & Approach
1.2.4 Assumptions & Assessments
1.3 Insights and Growth - Relevancy Mapping
1.3.1 FABRIC Platform
1.4 Data mining & efficiency
Chapter 2. Executive Summary
2.1 Global Aerosol Delivery Devices Market Overview
2.2 Interconnectivity & Related markets
2.3 Ecosystem Map
2.4 Global Aerosol Delivery Devices Market Business Segmentation
2.5 Global Aerosol Delivery Devices Market Geographic Segmentation
2.6 Competition Outlook
2.7 Key Statistics
Chapter 3. Strategic Analysis
3.1 Global Aerosol Delivery Devices Market
Revenue Opportunities
3.2 Cost Optimization
3.3 Covid19 aftermath - Analyst view
3.4 Global Aerosol Delivery Devices Market Digital Transformation
Chapter 4. Market Dynamics
4.1 DROC
4.1.1 Drivers
4.1.1.1 Increase in air pollution
4.1.1.2 Advantages over conventional drug delivery devices
4.1.1.3 Increase in prevalence of COPD and asthma
4.1.1.4 Rise in government initiatives
4.1.2 Restraints
4.1.2.1 High cost of asthma and COPD treatments
4.1.2.2 Lack of access in underdeveloped countries
4.1.3 Opportunities
4.1.3.1 Growth opportunities in emerging markets
4.1.4 Challenges
4.2 PEST Analysis
4.2.1 Political
4.2.2 Economic
4.2.3 Social
4.2.4 Technological
4.3 Market Impacting Trends
4.3.1 Positive Impact Trends
4.3.2 Adverse Impact Trends
4.4 Porter's 5-force Analysis
4.5 Market News - By Segments
4.5.1 Organic News
4.5.2 Inorganic News
4.6 Price Trend Analysis
Chapter 5. Market Segmentation
5.1 The Global Aerosol Delivery Devices Market Segmentation by Product - Forecast till 2027
5.1.1 Dry powder inhalers
5.1.2 Metered-dose inhalers
5.1.3 Nebulizers
5.2 The Global Aerosol Delivery Devices Market Segmentation by Application - Forecast till 2027
5.2.1 Asthma
5.2.2 Chronic obstructive pulmonary disease
5.2.3 Cystic fibrosis
5.2.4 Non-respiratory diseases
5.3 The Global Aerosol Delivery Devices Market Segmentation By Distribution Channel - Forecast till 2027
5.3.1 Retail pharmacies
5.3.2 Hospital pharmacies
5.3.3 E-commerce
North America Global Aerosol Delivery Devices Market Segmentation
By Product - Forecast till 2027
By Application - Forecast till 2027
By Distribution Channel - Forecast till 2027
Europe Global Aerosol Delivery Devices Market Segmentation
By Product - Forecast till 2027
By Application - Forecast till 2027
By Distribution Channel - Forecast till 2027
APAC Global Aerosol Delivery Devices Market Segmentation
By Product - Forecast till 2027
By Application - Forecast till 2027
By Distribution Channel - Forecast till 2027
Latin America (LATAM) Global Aerosol Delivery Devices Market Segmentation
By Product - Forecast till 2027
By Application - Forecast till 2027
By Distribution Channel - Forecast till 2027
The Regions are further studied to analyze the major countries within the respective regions. The coverage of the country-level data is dynamic and is updated regularly based on the market movements. Normally, the countries covered in the report include
North America - United States, Canada, Mexico; Europe - United Kingdom, France, Italy, Germany, Spain, Rest of Europe; Asia Pacific - China, India, Japan, South Korea, Rest of APAC; Middle East & Africa - South Africa, GCC Countries, Rest of MEA; LatAm - Brazil, Argentina, Rest of LatAm;
Chapter 6. Market Use case studies
Chapter 7. KOL Recommendations
Chapter 8. Investment Landscape
8.1 Global Aerosol Delivery Devices Market
Investment Analysis
8.2 Market M&A
8.3 Market Fund Raise & Other activity
Chapter 9. Global Aerosol Delivery Devices Market
- Competitive Intelligence
9.1 Company Positioning Analysis
9.1.1 Positioning - By Revenue
9.1.2 Positioning - By Business Score
9.1.3 Legacy Positioning
9.2 Competitive Strategy Analysis
9.2.1 Organic Strategies
9.2.2 Inorganic Strategies
Chapter 10. Key Company Profiles
The Global Aerosol Delivery Devices Market
Report profiles companies based on the material impact they have on the market ecosystem. These are hence, to be read as 'Key Players' and not necessarily 'Market Leaders'.
Companies are typically profiled to include
10.x.1 Company Fundamentals
10.x.2 Performance Overview
10.x.3 Product Overview
10.x.4 Recent Developments
The Companies profiled in this Report include
Chapter 11. Appendix
11.1 About AllTheResearch
11.2 Service offerings
11.3 Author details
11.4 Terms & Conditions
11.5 Contact us
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