Inhaler Market Was Valued at USD 19,445.4 Million in 2021, Rising Prevalence of COPD and Asthma

According to Precision Business Insights (PBI) latest report The Global Inhaler market is expected to be worth USD 19,445.4 million in 2021, growing at a 4.3% CAGR from 2022 to 2028. Global Inhaler Market segmented into following types: by Devices (Metered Dose Inhaler, Dry Powder Inhaler and Nebulizer), By Type (Preventive Inhaler, Reliever Inhaler and Long-Acting Bronchodilators Inhaler), By Application (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension And Cystic Fibrosis), By End User (Home Care and Hospitals & Clinics), and geography (North America, Europe, Asia-Pacific, and Rest of the World) Forecast to 2028. Key player's profiles in the Inhaler market report are Novartis AG, AstraZeneca, GlaxoSmithKline plc, CHIESI Farmaceutici S.p.A., Lupin, Zydus Cadila, Teva Pharmaceutical Industries Ltd., OMRON, Koninklijke Philips N.V. and PARI GmbH.

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Metered Dose Inhaler Segment are Dominate the Inhaler Market:
Metered Dose Inhaler segment expected to account for larger revenue share in global inhaler market with value share in global market and projected to grow at 4.2% CAGR over 2022 and 2028. Several respiratory illnesses, such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis, are treated with metered dose inhalers. To enable faster pharmacological action, these inhalers deliver a specified amount of medications to the lungs in the form of aerosolized pharmaceuticals. Manually actuated pressurized inhalers and breath-actuated pressurized inhalers are the two forms of MDIs. Asthma prevalence has increased in urban areas around the world due to air pollution, rapid urbanization, rising smoking rates, and changing lifestyles, propelling segment expansion.

North America Leads Inhaler Market:
North America expected to hold the more than 39% market share in the global inhaler market in the forecast period, and it is projected to grow at a CAGR of 4.1% in the coming years. Due to the expansion is the availability of advanced research infrastructure in the region's countries, as well as the widespread use of smart inhalers. Moreover, owing to the increasing prevalence of asthma in countries such as India and China, Asia Pacific is predicted to be the fastest growing region of the market. Factors such as a fast rising senior population, high levels of pollution, and an improvement in diagnosis rate are expected to account for the highest share of the market in the region.

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Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Inhaler market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In July 2020, Teva Respiratory, LLC., a U.S. affiliate of Teva Pharmaceutical Industries Ltd. launched ProAir Digihaler (albuterol sulfate 117 mcg) Inhalation Powder for Asthma and COPD Patients.

Detailed Segmentation
Based on the Device, the market is segmented into the following:
• Metered Dose Inhaler
• Dry Powder Inhaler
• Nebulizer

Based on the Type, the market is segmented into the following:
• Preventive Inhaler
• Reliever Inhaler
• Long-acting Bronchodilators Inhaler

Based on the Application, the market is segmented into the following:
• Asthma
• Chronic Obstructive Pulmonary Disease
• Pulmonary Arterial Hypertension
• Cystic Fibrosis

Based on the End User, the market is segmented into the following:
• Home Care
• Hospitals & Clinics

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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