Market Brief: New Triple-Combination Therapies Help Boost Lackluster Inhalation Devices Market
The inhalation devices market will reach $12bn by 2023, driven by the rising prevalence of asthma and COPD worldwide. GlaxoSmithKline, AstraZeneca and Boehringer Ingelheim dominate worldwide sales of inhalation products for asthma and COPD, and are facing generic competition. Generics developers and major pharma players are trying to set themselves apart with better drug-delivery devices.
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The rise in respiratory problems such as asthma and chronic obstructive pulmonary disorder will buoy growth in the $11.7bn inhalation drug delivery device market. While global sales increase of these devices will be modest, some geographic regions will see faster pace growth than others, according to a report by Meddevicetracker.