Wilmington, Delaware, United States, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global soft mist inhalers market is projected to grow at a CAGR of 6.8% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 4.4 billion is anticipated for the market in 2031. As of 2023, the demand for soft mist inhalers is expected to close at US$ 2.5 billion.
With an increasing incidence of respiratory conditions such as asthma, COPD (Chronic Obstructive Pulmonary Disease), and bronchitis globally, there's a growing demand for effective inhalation therapy, thus boosting the market for soft mist inhalers.
Many patients prefer inhalation therapy over traditional oral medications due to its convenience, faster onset of action, and targeted delivery to the lungs. Soft mist inhalers offer a user-friendly alternative, further fueling market growth.
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The global aging population is prone to respiratory ailments, which is driving the demand for respiratory care devices, including soft mist inhalers. As the elderly population grows, so does the market for respiratory devices, creating opportunities for market expansion.
Rising awareness about respiratory diseases and the importance of effective management, coupled with increased healthcare expenditure, particularly in emerging markets, is boosting the adoption of soft mist inhalers. Governments and healthcare organizations are also focusing on promoting inhalation therapy, further propelling market growth.
Soft mist inhalers are increasingly being used for a wide range of indications beyond asthma and COPD, including cystic fibrosis, pulmonary hypertension, and respiratory infections. This expansion of indications broadens the market base and drives demand for soft mist inhalers.
Key Takeaways from the Market Study
- As of 2022, the soft mist inhalers market was valued at US$ 2.4 billion.
- In terms of type, the reusable inhalers segment held a prominent share of the global soft mist inhalers market in 2021.
Soft Mist Inhalers Market: Key Trends and Opportunistic Frontiers
- The rising incidence of respiratory conditions such as asthma, COPD, and bronchitis is driving demand for soft mist inhalers as effective treatment options.
- Growing emphasis on patient-centered care in respiratory medicine, leading to increased adoption of soft mist inhalers due to their ease of use, improved compliance, and better patient outcomes.
- Soft mist inhalers are being explored for a wider range of respiratory conditions beyond asthma and COPD, such as cystic fibrosis and respiratory infections, expanding the market potential.
- Ongoing innovations in soft mist inhaler technology, including improvements in dose accuracy, breath-actuation synchronization, and portability, are enhancing patient convenience and driving market growth.
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Soft Mist Inhalers Market: Regional Analysis
- North America dominates the soft mist inhalers market due to the high prevalence of respiratory diseases, well-established healthcare infrastructure, and favorable reimbursement policies. Additionally, the presence of key market players and ongoing technological advancements further bolster market growth in this region.
- The Asia Pacific region is witnessing rapid growth in the soft mist inhalers market, propelled by factors such as the growing prevalence of respiratory disorders, rising healthcare awareness, and improving access to healthcare services. Increasing disposable income levels and expanding healthcare infrastructure also play a crucial role in driving market growth in countries like China, India, and Japan.
Competitive Landscape
The soft mist inhalers market is characterized by its fragmented nature, hosting numerous players vying for market dominance. These companies are strategically prioritizing investments in research and development as well as forging collaborations to bolster their market presence and enhance their competitive edge.
Key Players Profiled
- Recipharm
- Boehringer, Ingelheim am Rhein, Germany
- Merxin Ltd
- DSB Medical Co., Ltd.
- Resyca BV
- Aero Pump GmbH,
- Ursatec GmbH
Key Developments in the Market
- Merxin Ltd. introduced MRX004 represents a soft mist inhaler device designed to offer an interchangeable AB rated opportunity for tiotropium/olodaterol, formulated similarly to the Respimat.
MRX004 is versatile, serving as a soft mist inhaler suitable for various applications, including delivering new molecules to the lungs, repurposing existing ones, managing product life cycles, and reformulating compounds from nebulizers or pMDI/DPI devices. - In January 2024 - Recipharm, a prominent contract development and manufacturing organization (CDMO), is excited to unveil an exclusive license and collaboration agreement with Medspray and Resyca. Together, they will focus on the development of soft mist nasal delivery devices intended for both single and combination drug products.
Soft Mist Inhalers Market – Key Segments
Type
- Disposable
- Reusable
Application
- Asthma
- COPD
- Others (Cystic Fibrosis, etc.)
Age Group
- Adults
- Pediatrics
End User
- Hospitals
- Clinics
- Others (Home Care, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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