Respiratory Inhalers Market Overview
The respiratory inhalers market data has been segmented by end user into Hospitals & Clinics and Respiratory Care Center.
The global market report on the respiratory inhalers was valued at USD 28.2 billion in 2021 and is projected to grow from USD 29.5 billion in 2022 to USD 41.4 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2022 - 2030). Market Research Future (MRFR) in their report included the factors that would ensure the scaling of the predicted valuation during the forecast period. These factors are growing awareness regarding the use of the product, constant innovation, the impact of pollution, changes in lifestyle, increasing use of tobacco, and others.
Industrialization, air pollution and smoking has resulted in an indefinite increase in environmental pollution thereby giving birth to different respiratory ailments such as Chronic Obstructive Pulmonary Disease (COPD) and asthma. The global Respiratory Inhalers Market is on high pace owing to rapid increase in respiratory diseases. Respiratory inhalers have been created to counter such respiratory disorders. They are medical devices which are used for helping patients experiencing breathing problems occurring from respiratory disorders such as ARDS (acute respiratory distress syndrome), COPD, asthma and fibrosis.
There are key drivers that is driving the growth of the respiratory inhalers market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include unhealthy lifestyle, increase in pollution, rising use of combination therapies owing to associated perks such as increased efficacy and easy reimbursement policies. However, there are some restraints that is restricting the growth of the market such as complications and side effects during inhalation, lack of accuracy and increasing prices of devices.
Regional Analysis
Based on region, the global respiratory inhalers market covers growth opportunities and latest trends across North America, Europe, Asia-Pacific and Middle East & Africa. Of these, North America is expected to spearhead the market and is likely to grow substantially at 35.1% CAGR. The key factor here can be linked to smoking that is causing COPD. Europe stands next to North America and has the second largest share in the market owing to the key players being present in the region. Moreover, adoption of respiratory inhalers by patients and hospitals in the different European countries coupled with constant efforts being taken by the European Academy of Allergy & Clinical Immunology to boost awareness regarding COPD and asthma is likely to show some favorable growth in the market in the near future. The Asia Pacific market is predicted to be the fastest growing market owing to constant developments taking place in the developing countries such as China and India. This region is likely to grow at 6.7% CAGR over the predicted years. Middle East & Africa on the other hand contributed a minimum and is likely to see a limited yet steady growth.
Key Players
the Respiratory Inhalers Market Players include Teva Pharmaceutical Industries Ltd, Propeller Health, GSK plc, Chiesi Farmaceuti S.p.A., Boehringer Ingelheim GmbH, AstraZeneca and Adherium limited.
Market Segmentation
The global market report on the respiratory inhalers can be analyzed on the basis of segments like type, product, application, and end user. This would help in getting insights from the market, which can impact the development of strategies.
By type, the global market on the respiratory inhalers can be segmented on the basis of manually-operated and digitally-operated. The manually-operated segment has the largest market share.
By product, the global report includes metered dose inhaler, dry powder inhaler, and others. The dry powder inhaler segment is ruling the segment. The metered dose inhaler segment is gaining substantial popularity owing to the fact that it ensures a reliable amount of the dose. It is also known as MDI. Dry powder inhaler has an advantage that it helps the medicine to reach the lungs directly. This is possible due to the powder content, which is easier to inhale.
By application, the report comprises segments like asthma, COPD, and others. The asthma segment has the largest market share.
By end user, the report on the respiratory inhalers market includes respiratory care center, hospitals & clinics, and others. The hospitals & clinics segment would dominate the global market.
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