by Respiratory inhalers are devices used for delivering medicated aerosol or drugs to lungs. Inhalers are of prime importance for patients suffering from respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis.
The global Respiratory Inhalers Market is estimated to be valued at US$ 34.05 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of asthma and COPD is a major driver augmenting the growth of respiratory inhalers market. Asthma is a chronic disease that inflames and narrows the airways. Asthma symptoms arise from inflammation that causes the airways to constrict, reducing the flow of air in and out of the lungs. According to the Centers for Disease Control and Prevention, around 25 million Americans currently have asthma, with its prevalence increasing. Similarly, COPD is the third leading cause of death globally and is emerging as a major public health issue. Conditions like smoking, air pollution, and occupational hazards increase the risk of COPD. The rising prevalence of respiratory diseases is fueling the demand for respiratory inhalers for their treatment, which is a key trend propelling the market growth.
SWOT Analysis
Strength: Respiratory inhalers offer a non-invasive and easy method of drug delivery which increases patient compliance. They provide rapid relief and control of respiratory diseases like asthma and COPD.
Weakness: High costs associated with respiratory inhalers limit their adoption. Patients may find it difficult to use certain types of inhalers requiring coordination between activation and inhalation.
Opportunity: Growing prevalence of respiratory diseases globally due to rising air pollution and infections presents an opportunity. Development of digital inhalers with connectivity and sensors allows remote monitoring helping better disease management.
Threats: Presence of alternative drug delivery methods and generic drug competition are threats. Stringent regulatory guidelines for approval of new inhalers increases time to market which hinders product innovation.
Key Takeaways
The global respiratory inhalers market size is expected to witness high growth. The global Respiratory Inhalers Market is estimated to be valued at US$ 34.05 Mn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.
Regional analysis comprises growing respiratory diseases due to air pollution makes Asia Pacific the fastest growing region. North America dominates with established healthcare infrastructure and reimbursements.
Key players operating in the respiratory inhalers market are Simpson Strong-Tie Co., Inc., Fast-Stairs Inc., Pylex Products, Dolle USA, Universal Forest Products, Inc., Regal Ideas Inc., Arke Stairs, The Iron Shop, and Century Aluminum Railings. Growing prevalence of respiratory diseases globally and technological advancements in digital inhalers is expected to provide opportunities for existing as well as new players. Regional expansion by companies and development of innovative products holds importance.
