Dublin, June 12, 2023 (GLOBE NEWSWIRE) -- The "Respiratory Inhalers Market Report 2023-2033" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the market will surpass US$45.0 billion in 2023
Growing R&D Expenditure by Pharmaceutical and Biotechnology Companies Driving Market Growth
As the demand for greater precision in drug delivery grows, respiratory inhaler devices, particularly among asthmatics and those suffering from chronic obstructive pulmonary disease, are becoming more popular. Because they have a decreased degree of immunity to chronic and pulmonary diseases, an increasing percentage of senior people utilise inhalers.
Respiratory inhalers include complementary spacers or holding chambers to reduce the number of debris deposited in the mouth and throat. The market for respiratory products is expected to grow even more in light of the proposed shift to home healthcare.
One of the major digital platforms on which pharma and digital companies collaborate for the management of respiratory diseases is the smart inhaler market. In recent years, government organizations have been concerned about the rising death rates associated with respiratory diseases such as asthma and COPD.
Government and regulatory agencies have implemented new guidelines in recent years that will significantly impact the market growth of smart inhalers. Increasing numbers of organizations are integrating digital technologies into their devices in an effort to improve medication management efficiency.
The HeroTracker Sense application was launched by Aptar Pharma in April 2023, for example. Pressurized metered dose inhaler (pMDI) can now be converted into a smart connected health device through the use of this new digital respiratory health solution.
High Cost of Inhalers Likely to Challenge Market Growth
Despite the increased prevalence of asthma worldwide, including in emerging markets such as Asia and developed areas such as North America, several barriers to the acceptance of these therapies exist. Inhalers are frequently regarded as the primary treatment for asthma, which is one of the major issues limiting market growth.
According to the NCBI study, the CDC will spend approximately 49 billion in 2020, with Medicare covering only 51% of the COPD cost burden. As a result, the price of Advair, a critical asthma medication, has risen to US$648.8 in 2023, up from US$496.0 in 2013.
In addition to the high cost of drugs, under-diagnosis of asthma has been a key issue restricting market expansion. Asthma under-diagnosis leads to lower clinical outcomes for people who are unable to take the right asthma medicines to treat their medical condition.
A lack of awareness and perception of asthma in the community, poor access to health care, strained health systems, the absence of diagnostic tests, including spirometry, a lack of training among health care providers, and a lack of non-implementation of asthma guidelines are all factors that contribute to under-diagnosis of asthma.
Market Dynamics
Market Driving Factors
- Increasing Economic Burden of Asthma and Chronic Respiratory Diseases Will Increase Inhaler Demand
- Inclusion of Inhalers on the WHO Essential Medicines List (EML) and National Reimbursement Lists (NRL) is a Milestone
- Asthma as an NCD Priority Driving Demand for Inhalers
- Increased Demand from Emerging Markets
- The Pharmaceutical Industry is Embracing Digital Technologies to Combat Asthma
- Improving Quality of Care Through Innovation
- Increasing Awareness about Respiratory Drugs and Treatments
Market Restraining Factors
- Inhalers Manufacturing Complications is Hindering the Growth
- Market Growth Could Be Hindered by High Cost of Respiratory Medications
- Respiratory Disease Research Efforts and Funding Are Not Aligned with the Relative Disability Related to Respiratory Diseases
- Approval Process for New Respiratory Inhalers and Drugs is Overseen by Various Regulatory Bodies
Market Opportunities
- Promising R&D Pipeline in the Respiratory Inhalers
- An aging population that is prone to respiratory conditions is creating opportunities for manufacturers of inhalers
- Affordable Care Act: Expanding Medicare Coverage
- Both Innovator and Generic Products Have Met International Standards Creating Revenue Opportunities
Market Challenges
- Asthma Inhalers Are Among the Most Complex Pharmaceutical Industry Manufactured Medical Devices in Widespread Use
- Poor Treatment Adherence
- Low-Income Countries Face Extra Challenges
- Disruption of Clinical Trials Due to Pandemic Breakout
Leading companies and the potential for market growth
- 3M Health Care
- AptarGroup, Inc.
- AstraZeneca
- Boehringer Ingelheim International GmbH
- Cipla Inc.
- GF Health Products, Inc.
- GSK plc
- Koninklijke Philips N.V.
- Medisana GmbH
- Merck & Co., Inc.
- Novartis AG
- OMRON Corporation
- Recipharm AB
- Sunovion Pharmaceuticals Inc.
- Teva Pharmaceutical Industries Ltd.
Segments Covered in the Report
Product Outlook
- Standard Pressurized Metered-Dose Inhalers
- Pressurized Metered-dose Inhalers (pMDI)
- Metered-Dose Inhaler with a Spacer
- Dry Powder Inhalers
- Soft Mist Inhalers
- Other Inhaler Type
Drug Class
- ICS
- SABA+ICS
- SABA
- LABA
- LAMA
- ULABA
- SABA+SAMA
- LABA+LAMA+ICS
- SAMA
- Other Class
Mode of Operation
- Manually Operated Inhaler Devices
- Digitally Operated Inhaler Devices
- Other Mode Of Operation
Indication
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Pulmonary Arterial Hypertension (PAH)
- Others Respiratory Disease
For more information about this report visit https://www.researchandmarkets.com/r/gf8hr4
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