Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Respiratory Inhalers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, Technology, and Disease Indication" report has been added to ResearchAndMarkets.com's offering.
The respiratory inhalers market is expected to reach US$ 43,446.2 million by 2028 from US$ 31,144.6 million in 2022; it is estimated to grow at a CAGR of 5.7% from 2022 to 2028.
The rising cases of respiratory disorders and growing adoption of generic inhalers are among the key forces bolstering the market. However, high lack of early diagnosis and high cost of inhalers hinders the respiratory inhalers market growth.
Inhalers for respiratory diseases like chronic obstructive pulmonary disease (COPD) and asthma are medical devices which deliver medicine to prevent, control and treat symptoms and help reduce exacerbations. The medicine inside the inhaler goes directly into the airways when the patient breathe in.
The prevalence of asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and other respiratory diseases is increasing across the globe. For example, according to the World Health Organization (WHO), in 2022, the number of asthma-related deaths in 2019 was 455,000.
In addition, the Burden of Disease Study in 2019 recorded 212.3 million cases of COPD worldwide, resulting in 3.3 million deaths. According to the March of Dimes Organization, there were between 70,000 and 100,000 cases of cystic fibrosis across the globe in 2019.
In addition, one of the major causes of respiratory diseases such as COPD and asthma is the rise in air pollution. The Organization for Economic Co-operation and Development (OECD) estimates that global emissions of greenhouse gases are likely to increase by ~50% by 2050, mainly due to a 70% increase in CO2 emissions. In addition, it is estimated that the atmospheric concentration of greenhouse gases could reach 685 parts per million (ppm) CO2 equivalent by 2050, which would cause average temperatures to rise 3-6oC above pre-industrial levels.
In addition, the beneficial effects on patients through combination therapy for asthma have increased, which has increased the demand for respiratory inhalers market such as dry powder inhalers and soft-mist inhalers, as they are one of the best ways to administer combination drugs. Hence, the increasing prevalence of respiratory diseases among the growing population is one of the factors driving the respiratory inhalers market growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 254 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $31144.56 million |
| Forecasted Market Value (USD) by 2028 | $43446.19 million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rising Cases of Respiratory Disorders
- Growing Adoption of Generic Inhalers
Restraints
- Lack of Early Diagnosis and High Cost of Inhalers
Opportunities
- Increasing Adoption of Smart Inhalers Technology
Future Trends
- Increasing Product Development Activities
Companies Mentioned
- AstraZeneca Plc
- Beximco Pharmaceuticals Ltd.
- Boehringer Ingelheim International GmbH
- Cipla Ltd.
- GSK Plc
- Koninklijke Philips NV
- OMRON Corp
- PARI Respiratory Equipment, Inc.
- Teva Pharmaceutical Industries Ltd.
- OPKO Health, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/lw2b
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