New York, United States , April 04, 2023 (GLOBE NEWSWIRE) -- The Global Respiratory Inhalers Market Size to grow from USD 13.4 Billion in 2021 to USD 54.1 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 20.2% during the forecast period. Patients mostly utilise respiratory inhalers to breathe in medications that are essential for treating chronic lung problems. Patients should use a variety of devices, including inhalers, dry powder inhalers, nebulizers, metered dose inhalers, and soft mist inhalers, directly into their airways.
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Over the forecast period, it is expected that an increase in the number of asthma sufferers will fuel the expansion of the global market for respiratory inhalers. For instance, according to a report released in 2018 by The Global Asthma, there are approximately 300 million asthma sufferers worldwide, with the number expected to rise to 100 million by 2025. Also, it is projected that the rising prevalence of Chronic Obstructive Pulmonary Disorder (COPD) will support market expansion. For instance, according to the Global Initiative for Chronic Obstruction Disease, COPD will be responsible for 4.5 million deaths worldwide by 2030.
As respiratory inhalers are so expensive, it is difficult for patients in underdeveloped countries to afford them, which is limiting the market's total growth. In addition, the market growth is being constrained by the rise in the use of alternative treatments such subcutaneous injections and oral medications that are freely accessible at government hospitals and NGOs in poor countries.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Respiratory Inhalers Market Size, Share, and COVID-19 Impact Analysis By Type (Dry Powdered Inhalers, Metered Dose Inhalers), By Indication (Asthma, COPD), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By End-use (Hospitals, Homecare Settings, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here:
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Global Respiratory Inhalers Market Segmentation
Type Insights
MDIs segment is dominating the market with the largest market share over the forecast period.
On the basis of type, the global respiratory inhalers market is segmented into dry powder inhalers and metered dose inhalers. Among these, the metered dose inhalers segment is dominating the market with the largest market share over the forecast period. The primary factor driving their expansion is because they are dependable and simple to use in short sprays of a predetermined dose that patients administer by breathing. For instance, in September 2022, OzUK Ltd and H&T Presspart, a research lab with headquarters in the UK, partnered to market generic MDIs for H&T's clients.
Indication Insights
COPD segment accounted the largest market share over the forecast period.
Based on the indication, the global respiratory inhalers market is bifurcated into asthma, Chronic Obstructive Pulmonary Disease (COPD), Others. Among these, the COPD segment holds the largest market share and is going to continue its dominance over the forecast period. According to the WHO, COPD-related deaths totalled close to 3.23 million in 2019. On the other hand, the asthma market is expanding significantly as a result of the rise in hospitalisations, particularly in young children. According to the WHO, there are around 300 million asthma sufferers worldwide, and that figure is expected to grow by 50% every ten years.
Distribution Channel Insights
Hospital pharmacies is dominating the market with the largest market share over the forecast period.
On the basis of distribution channel, the global respiratory inhalers market is categorized into hospital pharmacies, online pharmacies, and retail pharmacies. Due to the growing senior population as well as the rising cases of CRDs, which are both significantly contributing to the market's growth, the hospital pharmacies sector is dominating the market with the biggest market share over the projection period. For a variety of chronic respiratory diseases, geriatric patients are frequently hospitalised to hospitals, and they prefer to buy their medications from hospital pharmacies.
End Use Insights
Hospitals segment is dominating the market with the largest market share over the forecast period.
On the basis of end use, the global respiratory inhalers market is segmented into hospitals, home care settings, and others. Among these, the hospitals segment is dominating the market and is going to continue its dominance over the forecast period. The market is expected to develop as a result of the rise in private-public partnerships, improvements in healthcare facilities, and simple access to healthcare services. Since many people prefer homecare settings due to the rising cost of healthcare, the homecare settings market is predicted to rise more quickly throughout the forecast period.
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Regional Analysis
North America is dominating the market with the largest market share over the forecast period.
Due to the rising rates of asthma and COPD in the US and Canada, North America held the greatest market share. Adherium Ltd, a major player in the respiratory eHealth and remote monitoring markets, announced in September 2021 that the U.S. FDA 510(k) had approved the use of its Halie Sensor.
On the other hand, Asia Pacific is predicted to see the fastest market growth over the forecast period because of the region's growing geriatric population, increased prevalence of CRDs, expanding healthcare infrastructure, and numerous government-led strategic initiatives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Respiratory Inhalers Market are Adherium Limited, Aptar Group Inc. (Cohero Health Inc.), AstraZeneca, Inc., Cognita Labs, Llc., GlaxoSmithKline Plc, Novartis AG, OPKO Health Inc., Philip Morris International Inc. (Vectura Group Plc), ResMed Inc. (Propeller Health), Teva Pharmaceutical Industries Ltd. And among others.
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