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.
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Ankur Gupta, Head Marketing & Communications