The Global Dry Powder Inhaler Industry is poised for substantial growth, with a projected worth of US$20.83 billion by the year 2024. According to industry analysts, this figure is anticipated to reach an impressive US$29.95 billion by 2034, marking a significant surge at a Compound Annual Growth Rate (CAGR) of 3.70% from 2024 to 2034.
This forecast is a testament to the continuous advancements and innovations in the healthcare industry, particularly in the respiratory segment. The rising prevalence of respiratory disorders, coupled with an increasing focus on patient-centric healthcare solutions, is driving the demand for dry powder inhalers globally.
Challenges Regarding Varying Characteristics of Dry Powder Inhalers to Pave Opportunities for Medical Device Manufacturers
Regulatory pressures and changes in the drug delivery market have driven the innovation of the dry powder inhaler forward.
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According to the World Health Organization (WHO), nearly 300 million people worldwide are affected by asthma, and approximately 240 Mn by chronic obstructive pulmonary disease (COPD).
Over half of these patients combined prefer the use of dry powder inhalers for the treatment of their disease.
These devices have depicted great potential in effective and reliable drug delivery, with novel designs ensuring the possibility to overcome future compliance, cost, and safety challenges.
Some of the essential performance characteristics regarding dry powder inhalers are associated with dose delivery, performances at varying airflows, and fine particle fraction content.
These characteristics may vary for powder formulations, creating the need for fine-tuning of the device or powder formulation or both combined for achieving optimal performance.
The requirement is particularly high in micro-dosing dry powder inhalers, which in turn is paving opportunities for medical device manufacturers in terms of innovations and advancements.
Growing adoption of unhealthy lifestyles, increasing geriatric population, and growing air pollution levels fuelling the prevalence of various respiratory disorders are key factors driving the expansion of the global powder inhaler market.
In addition, favorable government initiatives being taken across the globe to improve the healthcare infrastructure will further influence the market growth.
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However, the fact that dry powder inhalers are not moisture-resistant remains a major challenge for manufacturers, as the medicine loses its properties when it comes in contact with moisture.
The availability of effective alternatives such as nebulizers and electric pumps is expected to restrain the adoption of dry powder inhalers.
Lack of awareness regarding these devices in low-income & underdeveloped countries may further hinder the market growth to a certain extent.
Key Research Findings from FMI’s Report on the Global Dry Powder Inhaler Industry
- Projected Value by 2024: The dry powder inhaler market is expected to attain a market value of US$20.83 billion by the year 2024, reflecting the growing adoption of inhalation therapies.
- Future Growth Potential: Industry experts predict a remarkable expansion, forecasting the market to achieve a valuation of US$29.95 billion by 2034. This highlights the sustained growth trajectory over the next decade.
- CAGR of 3.70%: The market is set to experience a Compound Annual Growth Rate of 3.70% from 2024 to 2034, showcasing a steady and consistent upward trend in the adoption of dry powder inhalers.
Leading companies in the Global Dry Powder Inhaler Industry are focusing on the development of new-generation products.
These market players are making huge investments in R&D activities associated with novel device architectures, particle engineering, and powder formulations.
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Segmentation Analysis of the Global Dry Powder Inhaler Industry
By Product:
- Single Dose Dry Powder Inhalers
- Multi Dose Dry Powder Inhalers
By Indication:
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Pulmonary Arterial Hypertension
- Diabetes
- Cystic Fibrosis
By Function:
- Manually Operated Inhaler Devices
- Digitally Operated Inhaler Devices
By End User:
- Institutional Sales
- Hospital Pharmacies
- Cancer Research
- Office based Specialty Clinics
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Mail Order Pharmacies
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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