The global respiratory inhaler devices market, valued at USD 37,258.5 million in 2023, is projected to grow at a compound annual growth rate (CAGR) of 4.90%, reaching an estimated valuation of USD 60,114.7 million by 2033.
The market’s expansion is primarily driven by the increasing global prevalence of respiratory disorders, including asthma, chronic obstructive pulmonary disease (COPD), and other related conditions. As these disorders become more widespread, there is a growing demand for effective treatment options, which is fueling the adoption of respiratory inhaler devices. Additionally, advancements in inhaler technologies, such as smart inhalers and more efficient delivery systems, are expected to further drive product demand by offering better patient compliance and improved therapeutic outcomes.
The rising prevalence of respiratory disorders across the globe is driving the growth in the respiratory inhaler device market. The surging demand for treatment options for respiratory disorders and access to well-developed technologies are further expected to the product demand.
In addition, the ever-increasing elderly population, growing awareness regarding pulmonary diseases and rise in healthcare expenditure are sculpting growth in the market. Moreover, the rise in air pollution level throughout the globe is fuelling the product demand.
Growing cases of forest fire, increasing number of automobiles and growing number of factories are fostering growth in the market. Furthermore, rising use of fluoroscopy in pain management caused due to respiratory disorders will boost the product sales.
The rapid technological advancements along with several initiatives undertaken by governments to stop respiratory diseases will open up new avenues for market expansion. The growth will be driven by spreading awareness regarding the symptoms of respiratory disorders and availability of new treatment.
2018 to 2022 Respiratory Inhalers Devices Demand Analysis vs. Forecast 2023 to 2033
The market for respiratory inhaler devices was worth US$ 30,556.81 million in 2018, while growing at a CAGR of 3.95% during the historical period.
Over the years, metered dose inhalers are increasingly being adopted for the treatment of various respiratory disorders like asthma and COPD. The ability of these inhalers to deliver the right amount of medication fast is helping the market to grow. Various governments in developed nations are also supporting the production of tech superior inhaler devices due to their massive demand among the populace. Both of these factors will positively affect the market growth in the coming years.
Also, the demand for respiratory inhalers is expected to witness an upswing in the coming years. There is rapid surge in demand for dry powder inhalers’s due to prevalence of emphysema, bronchitis, and other disorders etc.. The presence of these disorders amongst teenagers and adults is pushing the pharmaceutical companies to work on research and development to innovative new formulation technologies.
The advancements in technology is further expected to drive the market growth. Rise in advancements in the advance portable inhalation technology will aid the market growth.
The expansion of healthcare sector’s and its ability to deliver affordable drugs is providing a strong stimulus for market expansion. Increasing government effors to provide affordable and accessible medicine is a significant factor that will contribute to market growth in the next ten years.
Considering these factors and new developments, the revenue growth of respiratory inhalers devices market is projected to be worth USD 60114.7 million by end of the forecast period, while exhibiting a CAGR of 4.90 %.
Market Competition
The Respiratory Inhalers devices market is extremely competitive and consists of numerous key industry players. These players are innovating novel delivery systems for treating respiratory disease. This is expected to propel Respiratory Inhalers devices market. The key industry players are:
- AstraZeneca
- 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
- Teva Pharmaceutical Industries Ltd.
Some recent developments in the market are:
Key market players are leveraging on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to enhance their product portfolio. This is expected to fuel the global Respiratory Inhalers devices market.
- In December 2020, OMRON Healthcare introduced WheezeScan for children suffering from Asthma to accurately detect the presence of wheezing in young children and to remove the unpredictability of potential misdiagnosis.
- In March 2021, in the United States and Mexico, AstraZeneca PLC initiated a Phase III clinical trial to assess the effectiveness and safety of budesonide/glycopyrronium/formoterol inhalers in adolescents and adults with chronic asthma inadequately controlled with standard care. The will trial will be completed in September 2023.
- In May 2022, Alkem intorduced its first inhalation device, Innohaler, for asthma and COPD and asthma patients.
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Key Segments Profiled in the Respiratory Inhalers Devices Industry Survey
By Product:
- Dry Powder Inhalers
- Metered Dose Inhalers
- Nebulizers
- Compressed Air Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers
By Technology:
- Manually Operated Inhaler Devices
- Digitally Operated Inhaler Devices
By Disease Indication:
- Asthma
- Chronic Obstructive Pulmonary Disease
- Pulmonary Arterial Hypertension
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Author By:
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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