The latest market report published by Acute Market Reports “Respiratory Inhalers Market Growth, Future Prospects, and Competitive Analysis, 2021 -2029” the respiratory inhalers market was valued at US$ 26.8 Bn in 2020, and is expected to reach US$ 44.1 Bn by 2029, expanding at a CAGR of 5.6 % from 2021 to 2029.
Browse the full report Respiratory Inhalers Market Growth, Future Prospects, and Competitive Analysis, 2021 -2029 at https://www.acutemarketreports.com/report/respiratory-inhalers-market
Market Insights
The respiratory therapeutics sector arises as a major challenge for the drug manufacturers to develop a suitable drug with minimalistic side effects and immediate relief. Respiratory inhalers are the most widely prescribed dosage forms for the treatment of various respiratory conditions such as asthma, chronic obstructive pulmonary disorder (COPD), bronchitis, cystic fibrosis and other respiratory indications. With the rise in asthma, COPD, bronchitis and other respiratory indications there arises a rise in demand for respiratory inhalers. The two most widely prevalent respiratory conditions across the globe are asthma and COPD. As per the World Health Organization (WHO) around 235 million people suffered from asthma and 251 million patients suffered from COPD globally as of 2020. The WHO anticipates that COPD would be the third leading causes of death worldwide by 2030. These high prevalence catapults the demand for respiratory inhalers and provides remunerative growth of respiratory inhalers market during forecast period, 2021-2029
Respiratory inhalers need to be used appropriately to ensure the determined dose is administered. A faulty administration may lead to high doses being administered which may contribute to side effects such as osteoporosis and rise in blood sugar levels in case of inhaled corticosteroids. These inhalers may cause hoarseness of voice and sore throat. Mouth wash and gargling after each dose may help prevent the aforementioned issues but are seldom carried out by the patients. Thus these side effects leads to lower adherence to medication and may have a negative impact on the respiratory inhalers market.
Smart inhalers such as Adherium’s Smart Touch enables remote monitoring of the patients and ensures accurate dosing to be administered are the newest advancement in the market. Smart touch is enabled with bluetooth facilities which help monitor doses using smartphone. This technology development has fueled multiple partnership amongst the major market leaders. For example the approval of smart touch inhaler is used with Astra Zeneca’s Symbicort aerosol inhaler. These advancement’s keep the market driving and improves patient adherence.
Patients with severe cases of COPD are now being treated with combination therapies as they provide better efficacy and prolonged relief. The rise in adoption for combination therapy is said to catapult the growth for respiratory inhalers market in the forecast period.
With the rise in asthma and COPD prevalence and constant rise in cystic fibrosis patients in North America, the region thus grabs largest market share across all geographies. Structured reimbursement policies and ease of availability of advanced inhalers have also propelled the demand and increased usage of respiratory inhalers. Lower and middle income countries accounts for 80% of asthma deaths thus making Asia Pacific a potential market wherein manufacturers could strategize and grow.
Market Competition Assessment:
The respiratory inhaler market is widespread across geographies with several industrial pioneers leading this market with a global outreach. Constant development in respiratory inhalers and partnerships among market leaders ascertains this market to be highly competitive. The market leaders in this market are Adherium, Astra Zeneca, Boehringer Ingelheim GmbH, Merck & Co., Inc., Cipla Inc., PARI Medical Holding, Teva Pharmaceutical Industries Ltd., Propeller Health, Beximco Pharmaceuticals Ltd., GlaxoSmithKline plc, OMRON Healthcare Europe B.V, Sandoz, Baxter International and others.
Key Market Movements:
