Global Respiratory Inhalers Market Size To Worth USD 54.1 Billion by 2030 | CAGR of 20.2%

Category: Healthcare

RELEASE DATE Mar 2023
REPORT ID SI1630

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Global Respiratory Inhalers Market Worth $54.1 Billion by 2030

According to a research report published by Spherical Insights & Consulting, the Global Respiratory Inhalers Market Size to grow from USD 13.4 Billion in 2021 to USD 54.1 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 20.2% during the forecast period.

Global Respiratory Inhalers Marke

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Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Respiratory Inhalers Market Size, Share, and COVID-19 Impact Analysis By Type (Dry Powdered Inhalers, Metered Dose Inhalers), By Indication (Asthma, COPD), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By End-use (Hospitals, Homecare Settings, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/respiratory-inhalers-market

 

Patients mostly utilise respiratory inhalers to breathe in medications that are essential for treating chronic lung problems. Patients should use a variety of devices, including inhalers, dry powder inhalers, nebulizers, metered dose inhalers, and soft mist inhalers, directly into their airways.

 

COVID 19 Impact

According to the World Health Organization (WHO), asthma, one of the most common non-communicable diseases that affects both children and adults, affected around 262 million people worldwide in 2019. In addition, the global mortality toll from chronic obstructive pulmonary disease (COPD) has increased, reaching 3.23 million. The whole global supply chain was severely impacted when the COVID 19 pandemic started. A lack of product inventories across several businesses has complicated clinical trials, post-approval operations, and regulatory processes. Despite this, the industry will experience favourable growth following the pandemic since major market participants want to develop cutting-edge treatments to address respiratory issues. Also, COVID 19 has increased demand for cutting edge digital products as well as respiratory care solutions.

 

Over the forecast period, it is expected that an increase in the number of asthma sufferers will fuel the expansion of the global market for respiratory inhalers. For instance, according to a report released in 2018 by The Global Asthma, there are approximately 300 million asthma sufferers worldwide, with the number expected to rise to 100 million by 2025. Also, it is projected that the rising prevalence of Chronic Obstructive Pulmonary Disorder (COPD) will support market expansion. For instance, according to the Global Initiative for Chronic Obstruction Disease, COPD will be responsible for 4.5 million deaths worldwide by 2030.

 

As respiratory inhalers are so expensive, it is difficult for patients in underdeveloped countries to afford them, which is limiting the market's total growth. In addition, the market growth is being constrained by the rise in the use of alternative treatments such subcutaneous injections and oral medications that are freely accessible at government hospitals and NGOs in poor countries.

 

Market Segmentation

 

Type Insights

MDIs segment is dominating the market with the largest market share over the forecast period.

On the basis of type, the global respiratory inhalers market are segmented into dry powder inhalers and metered dose inhalers. Among these, the metered dose inhalers segment is dominating the market with the largest market share over the forecast period. The primary factor driving their expansion is because they are dependable and simple to use in short sprays of a predetermined dose that patients administer by breathing. For instance, in September 2022, OzUK Ltd and H&T Presspart, a research lab with headquarters in the UK, partnered to market generic MDIs for H&T's clients.

 

Indication Insights

COPD segment accounted the largest market share over the forecast period.

Based on the indication, the global respiratory inhalers market is bifurcated into asthma, Chronic Obstructive Pulmonary Disease (COPD), Others. Among these, the COPD segment holds the largest market share and is going to continue its dominance over the forecast period. According to the WHO, COPD-related deaths totaled close to 3.23 million in 2019. On the other hand, the asthma market is expanding significantly as a result of the rise in hospitalisations, particularly in young children. According to the WHO, there are around 300 million asthma sufferers worldwide, and that figure is expected to grow by 50% every ten years.

 

Distribution Channel Insights

Hospital pharmacies is dominating the market with the largest market share over the forecast period.

On the basis of distribution channel, the global respiratory inhalers market is categorized into hospital pharmacies, online pharmacies, and retail pharmacies. Due to the growing senior population as well as the rising cases of CRDs, which are both significantly contributing to the market's growth, the hospital pharmacies sector is dominating the market with the biggest market share over the projection period. For a variety of chronic respiratory diseases, geriatric patients are frequently hospitalised to hospitals, and they prefer to buy their medications from hospital pharmacies.

 

End Use Insights

Hospitals segment is dominating the market with the largest market share over the forecast period.

On the basis of end use, the global respiratory inhalers market is segmented into hospitals, home care settings, and others. Among these, the hospitals segment is dominating the market and is going to continue its dominance over the forecast period. The market is expected to develop as a result of the rise in private-public partnerships, improvements in healthcare facilities, and simple access to healthcare services. Since many people prefer homecare settings due to the rising cost of healthcare, the homecare settings market is predicted to rise more quickly throughout the forecast period.

 

Regional Analysis

North America is dominating the market with the largest market share over the forecast period.

 

Global Respiratory Inhalers Market

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Due to the rising rates of asthma and COPD in the US and Canada, North America held the greatest market share. Adherium Ltd, a major player in the respiratory eHealth and remote monitoring markets, announced in September 2021 that the U.S. FDA 510(k) had approved the use of its Halie Sensor.

 

On the other hand, Asia Pacific is predicted to see the fastest market growth over the forecast period because of the region's growing geriatric population, increased prevalence of CRDs, expanding healthcare infrastructure, and numerous government-led strategic initiatives.

 

Major vendors in the Global Respiratory Inhalers Market are Adherium Limited, Aptar Group Inc. (Cohero Health Inc.), AstraZeneca, Inc., Cognita Labs, Llc., GlaxoSmithKline Plc, Novartis AG, OPKO Health Inc., Philip Morris International Inc. (Vectura Group Plc), ResMed Inc. (Propeller Health) and Teva Pharmaceutical Industries Ltd.

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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