The global respiratory inhaler devices market size is anticipated to attain an impressive valuation of USD 37,258.5 million in 2023 and is projected to reach USD 60,114.7 million by 2033, trailing a CAGR of 4.90% during the forecast period.
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.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 37,258.5 million |
| Anticipated Forecast Value (2033) | USD 60,114.7 million |
| Projected Growth Rate (2023 to 2033) | CAGR 4.90% |
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The market for respiratory inhaler devices was worth USD 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 %.
Adoption of Combination therapies to drive market growth
The growing prevalence of respiratory diseases such as COPD, emphysema and asthma, are driving the demand for respiratory inhalers. The burgeoning necessity for rescue medication during sudden asthma attack; and escalating demand for short-term and effective medication are leading to market expansion.
Along with this, rising focus of companies toward the development of advanced and portable inhalation devices will provide a breeding ground for the market expansion. Further, government initiatives toward spreading awareness for COPD and asthma symptoms are anticipated to augment the product sales.
The increasing adoption of combination therapies for asthma is further propeling the demand for respiratory inhalers, like dry powder inhalers and soft mist inhalers due to their effective results on the patients. These devices are proving to become best options to induce the combination drug.
On the other hand, use of smart inhaler technology is expected to drive market growth. Employing smart inhaler devices that are more intuitive and that drive the patient engagement while enhancing treatment effectiveness will further amplify the product sales.
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High cost of Inhalation devices to restrict product sales
Factors such as rising environmental concerns associated with metered dose inhalers (MDI) along with the high cost of some inhalation devices and treatment will most likely restrain the market growth.
Also, growing competition among product prices, and deterioration of product quality are further expected to hamper the market growth. Further, incompetent reimbursement support and expiration of patents for blockbuster drugs will be some other roadblocks that may restrict the market growth.
North America to dominate the market with maximum share
North America dominate the respiratory inhalers device market by accumulating 41.40% market share in 2022. The region is expected to retain its lead by accounting for over 45% market share by end of the forecast period. The growth is attributed to widespread and early adoption of inhalers and nebulizers along with large pool of patients suffering from respiratory ailments.
Also, increasing awareness about proactive asthma management in children in this region will further drive the market growth. The United States alone accounted for 37.10% revenue share in 2022 and is expected to lead the region by accumulating over 47% market share by end of the forecast period.
According to the National Institute of Health, in 2021, the USA population aged over 65 years is expected to double over the next thirty years, from 48 million in 2015 to more than 88 million by 2050.
Also, According to the Asthma and Allergy Foundation of America (AAFA), on an average, 11 people in the USA die from asthma every day. It further stated that in 2020, 4,145 people were deceased due to asthma. Almost all of these deaths could have been prevented with the proper treatment by utilizing respiratory inhalers.
In 2020, Asthma-related deaths increased for the first time in 20 years, According to the Illinois Department of Central Management Services in 2022, annual costs incurred per patient in the USA is over USD 3,000. Due to high mortality rate associated with asthma and rising investment in asthma treatment in this country, the market is anticipated to reflect significant growth in the coming years.
Increasing Air Pollution and associated Lung Disorders driving growth
The market in China is expected to grow with a significant CAGR of 5.20% during the forecast period. Rising air pollution in the region is leading to chronic respiratory diseases among people, which is directly fuelling the demand for respiratory inhaler devices.
Also, increasing use of combination therapies in respiratory devices and mounting investment by key industry players to innovate advanced respiratory inhaler devices will further foster growth in the region.
The rapidly expanding healthcare infrastructure is opening up new avenues for the market expansion. This region also has highest patients suffering from respiratory ailments which will help in keeping the product demand stable in the coming years.
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Metered dose inhalers to account for maximum market share
The metered dose inhaler segment accounted for a dominating share of 71.20 % in 2022. It is expected to continue its trend of dominance by commanding over 75.4% share by 2033.
The inhalation route is fast acting and most effective way of delivering medications to the respiratory system during treatment of asthma and COPD. This is expected to keep the metered dose inhalers in demand through the forecast period.
Asthma to remain at the top in terms of market share
Asthma segment registered maximum share of 60% in 2022 in terms of disease indication. This segment is poised to contribute highest share of 66.8 % by end of the forecast period.
The rising prevalence of asthma across the globe is helping in the segments growth. Further, increasing activities by government organizations and NGOs in spreading awareness and increasing research and development activities in developing asthma device technologies, are some factors expected to fuel the segments growth.
For example, in March 2022, the United stated food and drug administration granted approval for the use of first generic of Symbicort (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol for treating two common pulmonary health conditions, including asthma in patients above six years of age. This development will boost the growth of the segment.
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:
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:
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.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 37,258.5 million |
| Market Value in 2033 | USD 60,114.7 million |
| Growth Rate | CAGR of 4.9% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product, Technology, Disease Indication, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled |
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. |
| Customization | Available Upon Request |
In 2023, the market is expected to be around US$ 37,258.5 million.
The market's sales increased at a HCAGR of 3.9% between 2018 and 2022.
The market is expected to endure at a 4.9% CAGR through 2033.
The metered dose inhaler sector may capturing 75.4% of the market by 2033.
By 2033, the market is expected to be worth US$ 60,114.7 million.
1. Executive Summary | Respiratory Inhaler Devices Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Dry Powder Inhalers 5.2. Metered Dose Inhalers 5.3. Nebulizers 5.3.1. Compressed Air Nebulizers 5.3.2. Ultrasonic Nebulizers 5.3.3. Mesh Nebulizers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 6.1. Manually Operated Inhaler Devices 6.2. Digitally Operated Inhaler Devices 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Disease Indication 7.1. Asthma 7.2. Chronic Obstructive Pulmonary Disease 7.3. Pulmonary Arterial Hypertension 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. Middle East & Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. AstraZeneca 18.2. Beximco Pharmaceuticals Ltd. 18.3. Boehringer Ingelheim GmbH 18.4. Cipla Ltd. 18.5. GlaxoSmithKline plc. 18.6. Koninklijke Philips N.V. 18.7. Merck & Co., Inc. 18.8. OMRON Healthcare Europe B.V. 18.9. PARI Medical Holding 18.10. Teva Pharmaceutical Industries Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
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Respiratory Inhaler Devices Market
