Global Respiratory Inhalers Market is witnessing highest CAGR growth of 7.0% and expected to reach USD 53.1 Bn by 2027.
The global respiratory inhalers market is growing significantly due to rise in adoption of respiratory products and growing prevalence for chronic pulmonary diseases such as nasal congestion, asthma, and COPD. Moreover, increase in government spending on technological advancement for developing medical devices, spread of awareness regarding techno-therapies, early-diagnosis of respiratory diseases, and rising funds for research facilities fuels the growth of the market.
Emergence of new, extremely sensitive technologies in medical device segment boosts the growth of the ecosystem across the globe. In addition to this, rising air pollution across the globe, increasing number of vehicles and growing industrialization contribute to the increasing respiratory diseases which further leverage the growth of respiratory inhalers market. However, lack of product awareness and stringent government regulations for medical device approvals hinder the growth of respiratory inhalers industry.
According to WHO, ~66 Mn of people suffer from COPD and about ~3 Mn of people die every year with chronic obstructive pulmonary disease, making it the 3rd leading cause of death across the globe. Moreover, more than ~335 Mn people suffer from asthma, which mainly affects childhood about 14% across the globe. Rising number of cases to various respiratory diseases elevate the demand for respiratory inhalers which uplift the growth of respiratory inhalers industry.
Moreover, researchers presented an acoustic inhaler technology at Respiratory Drug Delivery 2021 conference which was developed in UK, proposed viable alternative to more expensive respiratory electronic smart inhalers for respiratory disease management. This technology is expected to work sequential with smart phone which would help to detect acoustic signals and helps to provide feedback for the use of correct inhaler technique. This emerging technology is expected to improve inhaler techniques, and this will eventually decrease respiratory distress episodes. Such innovative and appropriate inhalers are expected to leverage the growth of respiratory inhalers industry.
Covid-19 pandemic has positively impacted the growth of respiratory inhalers market. Respiratory inhalers gained immense importance after sudden covid-19 outbreak. The rising demand for inhalers leveraged the growth of respiratory inhalers industry.
Global Respiratory Inhalers Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, Asia-Pacific is anticipated to observe the highest market growth during the forecast period due to increase in urbanization and product diversification in this region, growing adoption of respiratory devices and growing R&D facilities boost the growth of the global respiratory inhalers industry in this region.
The Global Respiratory Inhalers Market Segmentation:
Global Respiratory Inhalers Market by Product Type Outlook (Revenue, USD Million, 2021-2027)
Global Respiratory Inhalers Market by Patients Type Outlook (Revenue, USD Million, 2021-2027)
Global Respiratory Inhalers Market by Distribution Channel Type Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the respiratory inhalers market market are: