According to the study, ‘INHALERS - MEDICAL DEVICES PIPELINE ASSESSMENT, 2018’,
some major companies or organizations that engage in device manufacturing and
distribution or research are Boehringer Ingelheim
GmbH, Pneuma Respiratory Inc, Sandoz International GmbH, University of Kansas,
Virginia Commonwealth University
The first use of
inhaler technology can be traced by to 4000 years when people smoked Atropa
Belladonna as a cough remedy. The inhaler device technology has improved
significantly especially during the period 2010-2015. The first latest
technology of inhaler devices was developed in the mid 201th century when
pressurized metered dose inhaler (MDI) was invented). These devices are most
widely used to treat conditions like COPD and asthma however, these devices are
also suitable for other therapeutic areas especially nasal drug administration.
Due to positive
trends in the inhaler market, companies have the opportunity to cash in on the
growing trend however they also face many issues like dynamic regulatory
environment and generic competition. The entire inhaler market is divided into
two segments namely metered dose inhaler (MDI) and dry powdered inhaler. The
majority users prefer to use dry powdered devices which have translated into
their greater share within the market.
Some trends that have changed the landscape of this market
are:-
Environmental
Concerns – Environmental concerns have become very prominent especially after
the Montreal Protocol in 1989 which had a major impact on inhaler market as
companies were required to phases of CFC emitting devices. Due to hazards
looming over the world environment, companies introduced HFA propellants. This
was the major reasons that lead to the development of the first dry powdered
inhaler.
Device
designs – Growing consumer importance has resulted in companies changing their
device designs to enable efficient utilization of the drug. Even regulatory
authorities such as FDA recommend patient friendly device designs.
Financial
Constrains – All the companies do not possess the same financial and growth
potential, therefore are forced to merge with some bigger firms. As a result of
this, competition in this sector is increasing day by day which has forced
companies to be faster and leaner.
One
of the major factor leading to customer satisfaction in the inhalers market is
customer feedback and intelligent. In light of this many companies are
utilizing smart phone technology to tap into customer feedback and also using
analysis tool to monitor the feedback to the best of their use. Not only this,
the inhaler manufacturers have the ability to provide direct feedback methods
along with their products. Earlier, companies used to outsource production to
emerging markets in order to reduce overall costs however, in the present times
the production has been shifted to developed countries such as USA or countries
of Europe. This has been done due to availability of better technological
infrastructure in advanced countries.
The
global inhalers market is growing at a much faced paced trend and companies
need to innovate in their technology and distribution mechanism in order to
remain at the top of the recent developments. The growth potential for this
industry is immense given that companies and institutions are able to tap into
this potential and translate it into real numbers.
To know more, click on the link below:
Related Report:-
https://www.kenresearch.com/healthcare/pharmaceuticals/global-smart-inhalers-industry/102529-91.html
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91-9015378249
