Respiratory Inhalers Market
Respiratory Inhalers Market Size 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, at a CAGR of 4.90% during the forecast period.
The global respiratory inhalers market is likely to be driven by the growing prevalence of respiratory conditions such as asthma and chronic obstructive pulmonary disorder (COPD), along with the growing demand for technological innovation to make the operation of inhalers smoother and more precise.
According to the WHO, more than 300 million people are affected by asthma worldwide, with COPD accounting for more than 200 million. The growing prevalence of respiratory conditions such as asthma and COPD is likely to be the prime driver for the global respiratory inhalers market over the forecast period. Rising pollution levels and industrialization in urban areas around the world has been a major factor for the growing prevalence of such diseases. The increasing rate of urbanization in developing countries is likely to further drive the importance of this factor over the forecast period, as the rising number of urban residents will not only lead to a rise in the levels of vehicular pollution, but also lead to a rise in the volume of industrial activities to keep up with the growing economy.
The growing prevalence of smoking is also likely to be a major driver for the global prevalence of asthma and other respiratory diseases, thus driving the global respiratory inhalers market at a stable growth rate over the forecast period.
Major Key Players:
Global respiratory inhalers market players include Adherium Limited, Boehringer Ingelheim GmbH, GSK plc, Teva Pharmaceutical Industries Ltd., Propeller Health, Chiesi Farmaceutici S.p.A., and AstraZeneca.
Market Segmentation
The global respiratory inhalers market is segmented on the basis of operation, product type, application, end use, and region.
The respiratory Inhalers market has been segmented on the basis of operation into manually operated and digitally operated respiratory inhalers. Manually operated inhalers accounted for a dominant market share of close to 90% in 2016, dwarfing the demand for digitally operated respiratory inhalers primarily due to the higher costs of the latter.
On the basis of product, the respiratory inhalers market is segmented into dry powder inhaler, metered dose inhaler, and others. Dry powder inhalers accounted for the largest market share in 2016.
On the basis of application, the global respiratory inhalers market is segmented into asthma, COPD, and others. Asthma accounted for the largest market share in 2016 and is likely to remain the leading revenue generation channel for the global respiratory inhalers market over the forecast period due to the increasing prevalence of the disease in developed regions.
On the basis of end user, the global respiratory inhalers market is segmented into hospitals and clinics, respiratory care centers, and others. The hospitals and clinics segment dominated the global market in 2016 and is likely to remain the leading end user in the market over the forecast period.
Regional Analysis
The market for respiratory inhalers is segmented into North America, Europe, the Asia Pacific, and the Middle East Africa.
North America is the biggest market for Respiratory Inhalers, accounting for 35.1% of the overall demand.
Europe is the second-largest market, mainly due to companies or key players in the region, such as Novartis, AstraZeneca, and Boehringer Ingelheim. The adoption of respiratory inhalers by hospitals and patients in European countries, as well as the ongoing efforts of the European Academy of Allergy Clinical Immunology to raise awareness of asthma and COPD, is expected to expand the demand for respiratory inhalers in the future. It is projected that the European market will hit 11,425.7 million by 2023.
Moreover, the Asia Pacific market is projected to be the fastest-growing market for respiratory inhalers due to continuous developments in emerging economies such as India and China. Emerging economies are estimated to witness for maximum cases of respiratory disorders and remain unnoticed. In addition, there is a significant increase in digitally operated inhalers in countries such as Australia and New Zealand. The Asia Pacific region is projected to rise at 6.7% CAGR during the forecast period.
The Middle East Africa, on the other hand, contributed the least to the global market with just 9.2% of the share. The Middle East and Africa regions are projected to have limited but steady growth.
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