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Respiratory Inhalers Market Size, Trends, Shares, Insights, Forecast,2024|Coherent Market Insights

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akshay shinde
Respiratory Inhalers Market Size, Trends, Shares, Insights, Forecast,2024|Coherent Market Insights

Respiratory Inhaler Market -- Insights
Respiratory inhaler are used to inhale medicines that are important part of the treatment for chronic lung diseases. There are several products that deliver medicine directly to the airways such as metered-dose inhalers (MDIs), dry powder inhalers, nebulizers, and soft mist inhalers.

Statistics:
The global Respiratory Inhaler Market is estimated to account for US$ 32,921.8 Mn in terms of value and is expected to reach US$ 46,984.1 Mn by the end of 2027.

Global Respiratory Inhaler Market: Drivers

Increasing prevalence of asthma is expected to boost growth of the global Respiratory Inhaler Market over the forecast period. For instance, according to The Global Asthma Report 2018, around 300 million people have asthma worldwide, and the number is expected to reach 100 million by 2025.
Moreover, high incidence of Chronic Obstructive Pulmonary Disease (COPD) is also expected to aid in growth of the market. For instance, according to a report by Global Initiative for Chronic Obstruction Disease’s 2018 report, COPD is expected to result in 4.5 million global deaths annually by 2030.
North America region held dominant position in the global Respiratory Inhaler Market in 2018, accounting for 40.4% share in terms of value, followed by Europe.

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Global Respiratory Inhaler Market: Restraints

Increasing cost of inhalers is a major factor hampering growth of the global Respiratory Inhaler Market. For instance, the average cost of one inhaler of Advair increased from US$ 316 Mn in 2013 to US$ 496 Mn in 2018 and that of Flovent increased from US$ 207 Mn in 2013 to US$ 292 Mn in 2018.
Moreover, increasing adoption of alternative therapies such as oral medication or subcutaneous injections that are freely available at various government-run hospitals, especially in emerging economies, and some other non-profit organizations is also expected to restrict growth of the market over the forecast period.

Global Respiratory Inhaler Market: Opportunities

Smart inhaler technology is a novel technology developed to help the patients in keeping a check on their doses and offers various other features. Smart inhalers have embedded electronic chip along with Bluetooth connectivity. One such company Adherium, Ltd.’s smart inhaler sensors are available for metered dose inhalers, dry powder inhalers, and nebulizers. These devices come with touchscreens and audio-visual medication reminders and additional advantages such as mobile application connectivity, cloud-based portals for researchers and clinicians, custom user interface options. Adherium, Ltd.’s Smartinhaler Live platform uses wireless technology to provide real-time data collection
Dry powder inhaler sub segment in product type segment in the global Respiratory Inhaler Market was valued at US$ 7,258.0 Mn in 2018 and is expected to reach US$ 10,111.6 Mn by 2027 at a CAGR of 3.6% during the forecast period.

Market Trends/Key Takeaways

The demand for nebulizers has significantly decreased as it involves a time consuming process and requires substantial effort in inhaling medicines. Moreover, nebulizers require regular maintenance. However, nebulizers can be useful for young children and some people with more severe or acute asthma. Nebulizers are also still used for the treatment of people who are unable to use an inhaler or other device due to weakness of hands or coordination problems or have excess mucus in the airways.
The market is also witnessing increasing adoption of propeller systems in inhaler devices, especially for the treatment of patients suffering from asthma or COPD. Propellers involve use of sensors, mobile apps, analytics and services to provide effective health care.

Global Respiratory Inhaler Market: Competitive Landscape

Major players operating in the global Respiratory Inhaler Market include, 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.

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Global Respiratory Inhaler Market: Key Developments

Key players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in January 2020, Senzer Pharmaceuticals partnered with Drug Science, a leading independent scientific body on drugs in the U.K. running Project TWENTY21, under which Senzer Pharmaceuticals’ pharmaceutical respiratory device will be used in Project TWENTY21, a medical cannabis registry in Europe.
Key players in the market are focused on commercialization of their products to enhance their market share. For instance, in December 2019, Glenmark Pharmaceuticals Ltd. secured National Pharmaceutical Pricing Authority’s (India) nod for separate price for its digital dose inhaler or ‘Digihaler’.

About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

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