Global Respiratory Inhalers Market - 2023-2030

Global Respiratory Inhalers Market - 2023-2030

The global respiratory inhalers market reached US$ 30.8 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 49.0 billion by 2030. the global respiratory inhalers market is expected to exhibit a CAGR of 6.1% during the forecast period (2023-2030). Respiratory inhalers give quick relief for respiratory problems such as wheezing, shortness of breath, coughing, and chest tightness.

Inhalers can instantly ease symptoms and improve breathing by delivering medicine straight to the airways. Also in comparison to oral drugs, inhalers reduce the chance of systemic adverse effects because the drug is given directly to the lungs and has a localised impact, lesser dosages are necessary. This decreases the possibility of negative effects that may arise when drugs are absorbed systemically.

Market Dynamics

Increasing Geriatric Population

One of the primary drivers driving the market growth is the increase in geriatric population. Producing evidence among older persons with advanced-stage lung cancer will help to reduce both undertreatment and overtreatment. Withholding cancer treatment that has been proven to enhance symptoms and survival is referred to as undertreatment.

For instance, according to WHO, by 2050, 80% of the elderly will live in low- and middle-income countries, with a higher ageing rate than in the past. Between 2015 and 2050, the global population over 60 will nearly double, from 12% to 22%. This growing senior population will boost market expansion, but countries must prepare their health and social systems to capitalize on this demographic transformation.

Rise in Product Approvals

The rise in product approvals is the significant key driver that helps the market to grow during the forecast period. For instance, In January 2023 Airsupra, an albuterol/budesonide combination, has been approved in the US for asthma treatment and prevention. The FDA approved Airsupra based on results from the MANDALA and DENALI Phase III trials. Airsupra significantly reduced the risk of severe exacerbations in moderate to severe asthma patients when used as an as-needed rescue medication.

It also showed a significant reduction in mean annualised total systemic corticosteroid exposure at the approved dose of 180mcg albuterol/160mcg budesonide. In DENALI, Airsupra improved lung function compared to individual components albuterol and budesonide in mild to moderate asthma patients.

A-Lack of Product Usage Awareness

Inadequate information about the proper use of respiratory inhalers might impede the treatment of respiratory disorders such as asthma or chronic obstructive pulmonary disease (COPD). Patients who do not utilise their inhalers correctly and regularly may have an increase in the occurrence of symptoms, exacerbations, and a loss of overall control over their illness. Nonetheless, a lack of understanding about how to use the products limits the development of the respiratory inhaler market. Any error Inhaler uses results in an overdose or a reduced dosage and has severe consequences for the lungs.

COVID-19 Impact Analysis

The COVID-19 pandemic has significantly increased the demand for respiratory inhalers in ICUs and emergency rooms. Millions of patients are hospitalized due to the coronavirus infection, and inhalers are used to improve drug efficacy in ventilators. A study in the Lancet journal found that medical inhalers or inhaled glucocorticoids, commonly used by asthma patients, could reduce the risk of severe disease and hospitalization in Covid-19 patients, increasing the demand for respiratory inhalers.

The COVID-19 pandemic led to an increase in demand for inhalers, causing shortages in the UK. Producers accelerated production to meet global demand. The pandemic increased awareness of respiratory illnesses, leading to a rise in the market for respiratory inhalers. Countries are also experiencing oxygen crises, raising awareness of respiratory inhalers. Businesses and policymakers are attempting to cure coronavirus using inhaler-based therapy, with the U.K

Russia-Ukraine War Impact Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global respiratory inhaler, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of devices is expected to have little influence over the global respiratory inhaler market growth over the forecast period.

Segment Analysis

The global respiratory inhaler devices is segmented based on technology, product, application,end-user and region.

Digital Inhalers from the Technology Segment Accounts for 29.9% of the Market Share

Digital inhalers are breathing devices that are frequently connected to electronic equipment to monitor a patient's health on a daily basis. These are especially beneficial for persons suffering from respiratory ailments such as asthma or obstructive conditions. Sensors in these inhalers remind the user to take medication at the proper times throughout the day.

To monitor inhaler actuation, digital inhaler health systems include electromechanical sensors and microelectronics. A connected smartphone, a mobile app that talks with the patient, a cloud server, and a portal for the physician to view dashboard data are some of the devices.

For instance, In February 2023, Teva Pharmaceuticals USA, a U.S. affiliate of Teva Pharmaceutical Industries, presented data on its Digihaler System at the AAAI 2023 Annual Meeting. The data includes CONNECT2 clinical trial findings and real-world use of the smart inhaler system. The Digihaler System is the first with built-in sensors, providing objective inhaler event data to support asthma management and develop personalized treatment plans.

Geographical Analysis

Europe Accounted for Approximately 28.4% of the Market Share Owing to the Strong Presence of Major Players

Europe is estimated to hold about 28.4% of the total market share throughout the forecast period. For instance, the UK Medicines and Healthcare Products Regulatory Agency (MHRA) has approved the first dual-combination inhaled corticosteroid and long-acting beta2-agonist (ICS/LABA) treatment for mild asthma. AstraZeneca has approved budesonide/formoterol (Symbicort Turbohaler 200/6) as a reliever therapy for patients over 12 years old. The combination therapy, delivered as a single inhaler, contains budesonide, an ICS, and formoterol, a long-acting beta2-agonist bronchodilator.

Competitive Landscape

The major global players in the respiratory inhalers market include Adherium Limited, AstraZeneca plc, Beximco Pharmaceuticals Ltd., Boehringer Ingelheim International GmbH, CHIESI Farmaceutici S.P.A, Cipla Inc, GlaxoSmithKline plc, Glenmark Pharmaceuticals Ltd., HELTMAN Medikal A.S, Koninklijke Philips N.V and others.

Why Purchase the Report?
• To visualize the global respiratory inhalers devices market segmentation based on technology, product, application, end user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of respiratory inhaler devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global respiratory inhalers market report would provide approximately 53 tables, 54 figures and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies