The global respiratory inhaler devices industry is set for substantial growth, with an estimated valuation of USD 37,258.5 million in 2023, projected to reach USD 60,114.7 million by 2033. This expansion corresponds to a compound annual growth rate (CAGR) of 4.9% during the forecast period, reflecting the rising prevalence of respiratory diseases and the increasing adoption of advanced inhalation technologies.
Respiratory inhaler devices play a critical role in managing chronic respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and other airway-related disorders. The market is propelled by advancements in inhaler technology, including smart inhalers, which improve medication adherence through digital monitoring. Additionally, the growing awareness of early diagnosis and treatment of respiratory diseases is driving demand.
The increasing burden of respiratory conditions due to pollution, smoking, and lifestyle changes, combined with the aging population, underscores the need for effective and convenient treatment solutions. However, challenges such as the high cost of advanced inhalers and concerns over the environmental impact of certain inhaler propellants may affect market dynamics.
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Key Takeaways:
- The respiratory inhaler devices market is expected to grow at a 4.9% CAGR, reaching USD 60,114.7 million by 2033.
- Rising prevalence of asthma and COPD is driving demand for advanced inhaler technologies.
- Innovations such as smart inhalers are enhancing medication adherence and patient outcomes.
- Increasing awareness and early diagnosis of respiratory conditions bolster market growth.
Market Drivers
- Increasing Prevalence of Respiratory Disorders: The rising incidence of conditions such as asthma and chronic obstructive pulmonary disease (COPD) is driving demand for effective inhaler devices.
- Technological Advancements: Innovations in inhaler technology, including the development of smart inhalers and more efficient delivery systems, are enhancing patient compliance and therapeutic outcomes.
- Growing Elderly Population: An aging population that is more susceptible to respiratory diseases is contributing to the increased demand for inhaler devices.
- Rising Air Pollution Levels: Increasing air pollution from vehicles and industrial activities is exacerbating respiratory conditions, leading to higher usage of inhalers.
- Government Initiatives: Various health initiatives aimed at raising awareness about respiratory diseases and promoting treatment options are expected to support market growth.
Start-ups in Respiratory Inhaler Devices Market
Start-ups help in determining the future growth opportunities in any market. These new entrants have the potential to generate high returns which directly benefits the expansion of any industry. These start-ups are typically more efficient at transforming inputs into outputs with more flexibility and adaptability in nature, able to shift quickly in response to sensitive market conditions. Some of the start-ups that will fuel the expansion of Respiratory Inhalers devices market are:
- ‘BreatheSuite’ is a St.Johns, Canada-based startup firm that was founded in 2018. It has developed an integrated inhaler device for medication adherence to manage COPD and asthma. This device is connected to an app via Bluetooth to monitor the intake and dosage of medicine. The inhaler is used to monitor the technique. This app also provides real-time training. The app also notifies the user to take the medicine. The app can be to conncect with physicians, care teams and family members to share the medication data for managing the respiratory disease.
- MicroVapor Devices has created Pocket Neb, a lightweight, portable vibrating mesh nebulizer for aerosol drug delivery to patients with respiratory ailements like asthma and COPD. It has over 4,000 micro holes that allow 98% delivery of soluble medications. The company has received FDA clearance for its device. It is a Columbia, USA-based company. It was founded in 2018.
- CareTRx is a mobile app and sensor offered by Gecko Health for the management of asthma. The device is added to pre-existing inhalers. It aims at assiting patients to better manage their asthma by tracking medication use, giving reminders and increasing awareness toward the disease. The offering involves a direct sensor monitoring, games and analytical features. It also uses gamification via AirQuest App to act as a reminder to use an inhaler.
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.
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
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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.
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