Respiratory Inhalers Market Analysis by Application (Chronic Obstructive Pulmonary Disease, Asthma, Pulmonary Arterial Hypertension, and Others); by Product Type (Soft-Mist, Dry Powder, Metered Dose Nebulizer, and Others); and by Technology (Digitally, and Manually Operated Inhaler Devices)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
1 Nov 2022
Healthcare & Pharmaceuticals
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
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Global Respiratory Inhalers Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global respiratory inhalers market is estimated to garner a revenue of USD 52.0 Billion by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 35.0 Billion in the year 2021. The growth of the market can be attributed to the rising demand for the treatment of respiratory disorders such as lung cancer. According to the National Cancer Institute, there are 236,740 new lung cancer cases in the United States in 2022.
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Respiratory inhalers are devices that deliver medication directly to the lungs. There are three major types of inhalers on the basis of product type, such as soft-mist, dry powder, and metered dose nebulizer. Moreover, respiratory inhalers are used to control the symptoms of chronic obstructive pulmonary disease, asthma, pulmonary arterial hypertension, and other diseases symptoms. For instance, there has been an increasing incidence of pulmonary arterial hypertension among the population in the United States and Europe. Nearly 500-1000 new cases are diagnosed each year in the United States.
Global Respiratory Inhalers Market: Growth Drivers and Challenges
Rise in the inter-country trade for medical devices– The rise in the inter-country trade for medical devices is anticipated to surge the growth of the global respiratory inhaler market. As per the Indian Brand Equity Foundation, the bilateral trade target has been set at USD 30 Billion by the end of 2025 India and Russia, with an additional 5.0 Billion opportunities in pharmaceutical and medical devices, chemicals, steel, and minerals.
Increasing Asthma Cases– According to the data stated by the Asthma and Allergy Foundation of America in 2022, approximately 25 million people in the United States have Asthma
Rising Awareness Related to Pulmonary Diseases– Chronic obstructive pulmonary disease accounts for 3.23 million deaths in 2019 and is listed as the third major cause of death across the globe.
Increase in Air Pollution– Breathing air pollutants created abnormality in the small airflow of the lungs leads to lung problems. Hence, it is expected to surge the growth of the global respiratory inhaler market. As per the World Health Organization, 91 percent of the total world’s population lives in places, where air pollution levels exceed the limits of the guidelines specified by WHO.
Surging Adoption of Alternative Treatment
High Cost of Inhalers
Lack of Awareness for the Use of Inhalers
The global respiratory inhaler market is segmented and analyzed for demand and supply by application into chronic obstructive pulmonary disease, asthma, pulmonary arterial hypertension, and others. Out of these, the asthma segment is anticipated to hold the largest share over the forecast period. This can be attributed to a surge in the number of people suffering from asthma across the globe. As per the World Health Organization, approximately 262 million people were affected by asthma in 2019, accounting for 455,000 deaths.
Global Respiratory Inhalers Market Regional Synopsis
Regionally, the global respiratory inhaler market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2031 on the back of the high prevalence of asthma cases, a surge in the medical devices industry’s spending, and the presence of large market players in the region.
Moreover, the market in the Asia Pacific region is anticipated to grow at the fastest rate during the forecast period owing to the increase in the percentage of the population and the rising geriatric population. As per the World Bank, the population of China has increased from 1.3 Billion in 2005 to 1.41 Billion in 2021.
Our in-depth analysis of the global respiratory inhalers market includes the following segments:
By Product Type
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Key Companies Dominating the Global Respiratory Inhalers Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global respiratory inhalers market that are included in our report are GlaxoSmithKline Plc, Merck & Co., Inc., Cipla Inc., Teva Pharmaceutical Industries Ltd., AstraZeneca Plc, Koninklijke Philips N.V., Boehringer Ingelheim International GmbH, OMRON Healthcare, Inc., 3M, Adherium Limited, and others.
Global Respiratory Inhalers Market: Latest Developments
November, 2019: OMRON Healthcare, Inc., has announced its agreement with the AstraZeneca Plc for a joint research and development for developing disease management solutions for patients.
September, 2020: Teva Pharmaceutical Industries Ltd., launched two digital inhalers AirDuo Digihaler Inhalation Powder, and ArmonAir Digihaler Inhalation Powder in the United States.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Increase in the air pollution, rising awareness related to pulmonary diseases, increasing asthma cases, and rise in the inter-country trade for medical devices.
The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2031.
Surging adopting of alternative treatment, high cost of inhalers and lack of awareness for the use of inhalers.
Which region will provide more business opportunities for growth of respiratory inhalers market in future?
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are GlaxoSmithKline Plc, Merck & Co., Inc., Cipla Inc., Teva Pharmaceutical Industries Ltd., AstraZeneca Plc, Koninklijke Philips N.V., Boehringer Ingelheim International GmbH, OMRON Healthcare, Inc., 3M, Adherium Limited, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, product type, technology, and by region.
The asthma segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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- GlaxoSmithKline Plc
- Merck & Co.Inc.
- Cipla Inc.
- Teva Pharmaceutical Industries Ltd.
- AstraZeneca Plc
- Koninklijke Philips N.V.
- Boehringer Ingelheim International GmbH
- OMRON Healthcare Inc.
- Adherium Limited