PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550596
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550596
Global respiratory inhalers market is estimated to be valued at USD 33.11 Bn in 2024 and is expected to reach USD 49.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 33.11 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 5.80% | 2031 Value Projection: | US$ 49.10 Bn |
Respiratory inhalers are medical devices used for administration of drugs to treat respiratory diseases like asthma and COPD. These help to deliver the required dosage of medication directly to the airways through inhalation. Rising prevalence of respiratory diseases due to environmental factors, growing geriatric population susceptible to such conditions, and increasing awareness about inhaler therapies can drive the market growth. Advancements in inhaler drug delivery technologies, development of smart and digital inhalers, and introduction of combo inhalers with improved efficacy can also drive the market growth. However, high treatment costs and lack of availability in rural regions may hamper its widespread adoption.
Global respiratory inhalers market growth is primarily driven by growing prevalence of respiratory diseases worldwide. Asthma and COPD incidence has increased dramatically in recent decades due to rising pollution levels, changing lifestyle trends, and aging population. As per data from WHO, around 300 million people currently suffer from asthma while over 200 million have COPD. Early diagnosis and availability of effective inhaler therapies have improved the treatment outlook of these conditions. Lack of awareness in low-income nations and high costs of branded drugs in some countries can hamper the market growth. However, ongoing R&D into newer categories of respiratory medicines, integration of digital technology into devices, and development of hybrid inhalers combining attributes of different types of inhalers can overcome these challenges by making effective treatment more affordable and accessible to patients.
This report provides in-depth analysis of the global respiratory inhalers market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global respiratory inhalers market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include GlaxoSmithKline, Merck, Boehringer Ingelheim, AstraZeneca, 3M, Teva Pharmaceutical, and Sunovion Pharmaceuticals
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global respiratory inhalers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global respiratory inhalers market
Detailed Segmentation-