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Global Respiratory Inhalers Market Growth Accelerated by Increased Prevalence of Respiratory Diseases

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Sneha
Global Respiratory Inhalers Market Growth Accelerated by Increased Prevalence of Respiratory Diseases

Respiratory inhalers are medical devices used for the delivery of medications through inhalation to treat respiratory diseases like asthma and chronic obstructive pulmonary disease (COPD). Inhalers offer quicker delivery of drugs to the respiratory system compared to oral medications and cause fewer side effects. With the increasing prevalence of respiratory diseases due to pollution, smoking, and aging population, the need for respiratory inhalers has accelerated.

The global Respiratory Inhalers Market is estimated to be valued at US$ 35 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023–2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends fueling the growth of the respiratory inhalers market is the rising prevalence of respiratory diseases. As per the WHO, over 235 million people suffer from asthma worldwide, and incidence and prevalence of asthma are rising globally. Additionally, the International COPD Coalition reports that COPD is the third leading cause of death globally. Pollution levels are worsening air quality globally resulting in many respiratory issues. The increasing pollution and aging population are contributing to the rising prevalence of respiratory diseases, thereby driving the demand for respiratory inhalers that help manage the symptoms of these diseases. With growing awareness about respiratory diseases and availability of various inhalers, this trend is expected to continue over the forecast period.

Segment Analysis

The global respiratory inhalers market is segmented by product into dry powder inhalers (DPIs), metered dose inhalers (MDIs), and nebulizers. Among these, DPIs dominate the market due to their ease of use and high degree of portability. DPIs do not require coordinating an actuation with inspiration and require minimal hand-breath coordination skills. This makes them well suited for both children and adults.

Key Takeaways

The Global Respiratory Inhalers Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Respiratory Inhalers Market is estimated to be valued at US$ 41.2 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023–2030.

Regional analysis:

North America is expected to continue dominating the respiratory inhalers market during the forecast period. Rising cases of COPD and asthma are major factors driving market growth in the region. According to the Center for Disease Control and Prevention (CDC), in 2020 around 25 million Americans suffered from asthma. Presence of well-established healthcare infrastructure and favorable reimbursement policies in the US and Canada are also boosting adoption of respiratory inhalers.

Key players:

Key players operating in the respiratory inhalers market are GlaxoSmithKline Plc, Novartis AG, Merck & Co., AstraZeneca Plc, Boehringer Ingelheim GmbH. GlaxoSmithKline Plc holds the leading market position owing to its wide product portfolio of inhalers for conditions like asthma and COPD. Novartis AG is another major player focusing on developing novel respiratory drugs and devices.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/respiratory-inhalers-market-share-and-demand-analysis/

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