The Global Respiratory Inhalers Market Size was valued at USD 34.1 Bn in 2020 and is expected to reach USD 53.1 Bn by 2027, with a growing CAGR of 7% during the forecast period.
Respiratory inhaler is a medical device that is used to transfer medicated formulation from the nose to the lungs or targeted part of the body. Respiratory inhalers are mostly used for asthma and Chronic Obstructive Pulmonary Disease (COPD). Inhalers provide the advantage of avoiding systemic exposure of drugs to the body while transferring drugs directly to the targeted area.
Respiratory Inhalers Market Dynamics
The driving factors for the global respiratory inhalers market include rise in prevalence of respiratory diseases, increase in air pollution and growing number of allergic patients. Moreover, growing government initiatives in spreading awareness regarding pollution control & respiratory diseases management and availability of inhalers for different respiratory conditions fuel the growth of respiratory inhalers industry. Growing demand for respiratory disease treatment options, ever growing geriatric population and rising awareness regarding early pulmonary diseases boost the growth of respiratory inhalers industry.
Further, growing collaborations of pharmaceutical and medical device companies and increasing number of manufacturing units leverage the growth of respiratory inhalers industry across the globe. However, lack of awareness regarding availability of respiratory diseases management products hinders the growth of the ecosystem.
Global Respiratory Inhalers Market Segmentation:
By Distribution Channel
Based on product, metered dose inhalers accounted for the highest market share in 2020 and is expected to increase during forecast period due to proper provision of delivering specific quantity of medication to the patients
Based on product, respiratory inhalers market is segmented into dry powder inhalers, metered dose inhalers and soft mist inhalers. Metered dose inhaler held the largest market share in 2020 due to ease of administrating proper amount of medication and provide patient compliance. Moreover, growing aging population and respiration related complications fuels the growth of this segment in respiratory inhalers industry.
For instance, in April 2020, Lupin and Aptar announced the launch of first ever smart metered-dose inhalers device in the Indian market. The product is expected to launch with brand name ADHERO to treat chronic respiratory diseases track and would help to enhance the adherence to the prescribed therapy. Such inventions are expected to boost the growth of segment in respiratory inhalers industry.
Based on patients, adult patients held the largest market share in 2020 and is expected to increase during forecast period due to increase in number of adult patients
Based on patients, respiratory inhalers market is segmented into adults and paediatric. Adult patients accounted for the highest market share in 2020 due to growing number of adult patients associated with respiratory complications. Moreover, growing breathing complications, increase in number of allergic patients boost the growth of this segment in respiratory inhalers industry.
According to the lung diseases & respiratory health surveys, 1 in 7 adults have lungs diseases. Growing adoption of western lifestyle and increasing consumption of smoking is expected to trigger respiratory problems that uplifts the growth of respiratory inhalers industry.
Based on distribution channel, pharmacies are expected to dominate the market during forecast period owing to increase in number of pharmacies and ease of availability of products
Based on distribution channel, respiratory inhalers market is segmented into hospitals, pharmacies, respiratory care center, and online pharmacies. Pharmacies held the largest market share in 2020 and expected to increase more during the forecast period due to availability of large variety of products at a place and growing number of pharmacies.
Based on geographical region, North America dominated the market in 2020 and expected to maintain same dominance during the forecast due to presence of major key players in this region
Based on geography, North America held the largest market share in 2020 due to increase in number of asthma cases and rising incidences of COPD in this region. Strong presence of key players in North America, high awareness regarding early respiratory disease diagnosis and advances in healthcare technology fuels the growth of the ecosystem.
According to the survey, the US is the earliest adopters of latest inhalers technology and Canada is experiencing the same adoption for respiratory inhalers. This uplifts the growth of market in this region.
Company Profiles and Competitive Intelligence
The key players operating in the respiratory inhalers market are:
The report also provides an in-depth analysis of respiratory inhalers market dynamics such as drivers, restraints, opportunities, and challenges
COVID-19 Impact on the Respiratory Inhalers Market Analysis
Covid-19 has highly affected the industries in terms of growth, economy, health and mental wellbeing of every individual. In this challenging situation, every industry is trying to give the best services in terms of quality and safety. Covid-19 has positively impacted the growth of respiratory inhalers market. Sudden outbreak of covid led to increase in demand for inhalers across the globe.
Covid-19 affects the respiratory system and majorly breathing, this created demand for the need of respiratory inhalers in the market. Many pharmaceutical companies focused on manufacturing of inhalers across the globe. This leveraged the growth of the ecosystem.
The report also provides an in-depth analysis of key trends in Respiratory Inhalers market
The report also provides an in-depth analysis of recent news developments and investments
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