Medication for chronic lung illnesses is often administered through inhalation using a respiratory inhaler. Metered-dose inhalers (MDIs), nebulizers, dry powder inhalers, and soft mist inhalers are just some of the tools that can be used to administer medication straight to the lungs and airways.
Estimates place the value of the Market for Respiratory Inhaler Worldwide at US$ 32,921.8 Mn in 2023, with a rise to US$ 46,984.1 Mn by 2030’s end.
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Market for Respiratory InhalerWorldwide: Drivers
Over the forecast period, the market for respiratory inhaler worldwide is anticipated to increase at a CAGR of 4.6% due to the rising incidence of asthma. For example, The Global Asthma Report 2018 estimates that 300 Mn people worldwide already suffer from asthma, with that number rising to 100 Mn by 2025.
In addition, the industry should benefit from the rising prevalence of Chronic Obstructive Pulmonary Disease (COPD). For example, the Global Initiative for Chronic Obstruction Disease projects that by 2030, COPD will be responsible for 4.5 Mn deaths worldwide every year.
In 2018, North America had a 40.4% value share of the market for respiratory inhaler worldwide, with Europe coming in second.
Market for Respiratory InhalerWorldwide: Restraints
The rising price of inhalers is the main factor restraining expansion of the market for respiratory Inhaler worldwide. For example, between 2013 and 2018, the average price of an Advair inhaler rose from US$ 316 Mn to US$ 496 Mn, and between 2013 and 2018, the price of an inhaler of Flovent rose from US$ 207 Mn to US$ 292 Mn.
Growth in the market is anticipated to be hampered by the rising popularity of substitute treatments, like oral medication or subcutaneous injections, which are sometimes provided for free by public hospitals, particularly in developing countries, and by some non-profit organizations.
Market for Respiratory Inhaler Worldwide: Opportunities
A smart inhaler technology has been developed to aid patients in monitoring their doses and provides other benefits. Unlike traditional inhalers, “smart” ones include a built-in electronic chip and Bluetooth connectivity. Metered dose inhalers, nebulizers and dry powder inhalers can all use the sensors made by Adherium, Ltd. Several of these gadgets have touchscreens, audio/visual medication reminders, cloud-based portals for academics and physicians,mobile app connectivity, and the ability to personalize the user experience. Smartinhaler Live is a real-time data collecting tool developed by Adherium, Ltd.
The subsegment of dry powder inhaler of the product type sector of the market of respiratory inhaler worldwide was worth US$ 7,258.0 Mn in 2023 and is projected to reach US$ 10,111.6 Mn by 2030 at a CAGR of 3.6%.
Market Trends/Key Takeaways
Nebulizers are less in demand since breathing medications is a laborious process that takes a lot of time and effort. Also, nebulizers need routine servicing. Yet nebulizers can help with severe or acute asthma, especially in young children. As a result of hand weakness, coordination issues, or abundant mucus in the airways, nebulizers are also still utilized to treat patients who lack the ability to use an inhaler or other device.
Market participants have also noticed a rise in the use of inhaler devices with propeller systems, particularly for the care of individuals with asthma and chronic obstructive pulmonary disease. Effective medical care is propelled by the use of sensors, mobile apps, data analytics, and service delivery.
Market for Respiratory InhalerWorldwide: Competitive Landscape
Prominent companies in the market of respiratory inhaler worldwide are AstraZeneca plc, Beximco Pharmaceuticals Ltd., Boehringer Ingelheim GmbH, Cipla Ltd., GlaxoSmithKline plc, Koninklijke Philips N.V., Merck & Co., Inc., OMRON Healthcare Europe B.V., PARI Medical Holding, and Teva Pharmaceutical Industries Ltd.
Market for Respiratory Inhaler Worldwide: Key Developments
Companies with a significant market presence are increasingly concentrating on developing and implementing partnership approaches to increase their share of the market. Project TWENTY21 is a European medical cannabis registry, and in January 2020, Senzer Pharmaceuticals teamed with Drug Science, a prominent independent scientific authority on medicines in the United Kingdom, to deploy the company’s pharmaceutical respiratory device in the registry.
Market leaders are concentrating on expanding product distribution in order to increase their share of the market. For example, in December of this year, Glenmark Pharmaceuticals Ltd. was given approval by the National Pharmaceutical Pricing Authority (India) to charge a premium for its digital dose inhaler (marketed under the brand name “Digihaler”).
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|The market size value in 2023|
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Respiratory Inhalers Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Respiratory Inhalers Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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