Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Dry Powder Inhaler Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The dry powder inhaler market size has grown strongly in recent years, growing from $20.18 billion in 2023 to $21.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed in the historical period can be attributed to factors such as renewed interest in sustainable building materials, cultural preservation and heritage restoration, the rise in green building practices, local sourcing, community involvement, and regulatory support including building codes.
The dry powder inhaler market size is expected to see steady growth in the next few years to reach a forecasted $25.82 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The anticipated growth in the forecast period can be attributed to continued emphasis on sustainability, global urbanization trends, advancements in manufacturing processes, government incentives and policies supporting sustainable construction, and global economic factors. Major trends expected in the forecast period include increased research and development in the construction industry, renewed interest in traditional building techniques, advancements in material technology, evolving architectural and design trends, and regulatory support for sustainable construction practices.
The anticipated increase in the prevalence of respiratory diseases is poised to drive the growth of the dry powder inhaler market in the future. Respiratory diseases encompass a wide range of medical conditions affecting the respiratory system, and dry powder inhalers play a crucial role in treating conditions such as asthma, COPD, and cystic fibrosis. These inhalers deliver medication directly to the lungs, offering a promising alternative to traditional drug delivery methods for respiratory diseases. For example, reports from the Australian Institute of Health and Welfare in June 2023 indicated a rise in respiratory disease-related deaths from 43,031 in 2020 to 46,551 in 2021 in Australia. Thus, the growing prevalence of respiratory diseases is expected to propel the growth of the dry powder inhaler market.
The increasing levels of air pollution are also anticipated to contribute to the growth of the dry powder inhaler market. Air pollution, measured by the concentration of various pollutants in the atmosphere, leads to respiratory issues, making dry powder inhalers a preferred delivery method for medications that alleviate symptoms and manage respiratory conditions exacerbated by airborne pollutants. In 2022, the United States Environmental Protection Agency reported approximately 66 million tons of pollutants released into the atmosphere in the United States. Additionally, in March 2023, IQAir reported that Iraq was the second most polluted country with 80.1 g/m3, 16 times higher than the WHO PM2.5 annual guideline in 2022. Therefore, the rising levels of air pollution are expected to drive the growth of the dry powder inhaler market.
The stringent regulatory guidelines are anticipated to pose challenges to the growth of the dry powder inhaler market. The imposition of rigorous testing and compliance requirements has increased the hurdles for product development, usage, and market entry. In September 2023, The Scottish Government released a consultation draft guidance on quality prescribing for respiratory illness, emphasizing the importance of effective use of dry powder inhalers (DPIs) and providing information on inhaler choice and technique. Strict regulatory guidelines may impede the growth of the dry powder inhaler market.
Major companies in the dry powder inhaler market are focusing on innovation, developing products with muscarinic antagonists for the treatment of chronic obstructive pulmonary disease (COPD), and expanding their product portfolios. Muscarinic antagonists are drugs that inhibit the muscarinic acetylcholine receptor and are used to treat various illnesses, including COPD. For instance, Glenmark Pharmaceuticals Limited launched Tiogiva, a long-acting muscarinic antagonist dry powder inhaler (DPI) for COPD treatment in the UK in June 2021. The DPI functions by relaxing the muscles in the airways, facilitating breathing and requiring only once-a-day usage.
In February 2021, Catalent Inc. acquired Acorda Therapeutics Inc., expanding its capabilities in DPI manufacturing and adding a commercial-stage product to its portfolio, emphasizing the growing significance of DPI therapies for respiratory and neurological diseases. Acorda Therapeutics Inc. produces various DPIs for patients with respiratory diseases.
Report Scope
Markets Covered:
- By Product: Single-Dose Inhalers; Multi-Dose Inhalers
- By Function: Manually Operated Inhaler Devices; Digitally Operated Inhaler Devices
- By Application: Asthma; Chronic Obstructive Pulmonary Disease (COPD); Cystic Fibrosis; Other Applications.
- By End User: Hospitals And Clinics; Homecare Settings; Ambulatory Surgical Centers; Other End Users.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $21.25 Billion |
| Forecasted Market Value (USD) by 2028 | $25.82 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Companies Profiled:
- Novartis
- AstraZeneca
- GlaxoSmithKline
- 3M Company
- Boehringer Ingelheim
- Viatris (Mylan N.V)
- Otsuka Pharmaceutical Co. Ltd
- Sun Pharmaceutical Industries Limited
- Catalent Inc.
- Aptar Group Inc.
- Chiesi Farmaceutici S.p.A.
- Recipharm AB
- Cipla Limited
- Lupin Limited
- Orion Corporation
- OPKO Health
- Zhejiang Hisun Pharmaceutical Co Ltd
- Beximco Pharmaceuticals Ltd
- Sava Healthcare Ltd.
- Hovione
- Elpen S.A.
- MannKind Corporation
- Meda Pharmaceuticals
- Presspart Manufacturing Ltd
- SMB Laboratories SA
- Teva Pharmaceutical Industries Limited
- Pharmaxis Ltd.
- Iconovo AB
- SRS Pharmaceuticals Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/nd1k86
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