Press release
Aerosol Delivery Devices Market: Set to Explode and Reach US$ 63.3 Billion by 2028
Aerosol Delivery Devices Market Report 2023
Report Highlights
How big is the aerosol delivery devices market?
The global aerosol delivery devices market size reached US$ 44.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 63.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
What are aerosol delivery devices?
Aerosol delivery devices refer to an advanced method of drug administration wherein a drug is directly delivered to the lungs for a systemic effect. Some commonly used aerosol delivery devices include pressurized metered-dose inhalers, nebulizers, and valved holder chambers. They are generally used as rescue therapy or permanent treatment for various respiratory disorders, such as asthma, obstructive lung diseases, cystic fibrosis (CF), pulmonary arterial hypertension, and infectious pulmonary. They are also utilized in treating non-respiratory conditions, including diabetes, analgesia, thyroid disorders, and genetic diseases. They aid in lowering the dosage requirements, minimizing systemic adverse effects, and improving the ability of patients to self-administer medications. As a result, aerosol delivery devices find extensive applications in drug delivery and treatment of various medical conditions.
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What are the growth prospects and trends in the aerosol delivery devices industry?
The rising incidences of chronic respiratory diseases due to surging air pollution levels, allergens, occupational risks, and unhealthy habits like smoking represent the primary factor driving the market growth. Moreover, the sudden coronavirus disease (COVID-19) outbreak that causes acute respiratory infections among patients is another major growth-inducing factor. In addition, there has been widespread adoption of aerosol delivery devices in treating obstructive airway diseases at home and in healthcare settings. Along with this, the expanding geriatric population that is more susceptible to developing critical health conditions has augmented the product demand. Besides this, the increasing preferences for personalized drug therapy coupled with the advent of novel macromolecular medications have propelled market growth.
Furthermore, the leading manufacturers are introducing innovative product variants that assist in treating chronic inflammation and infection in the lungs and improve airway clearance in patients with CF. In line with this, the development of convenient, economical, and portable inhalation devices has accelerated product adoption rates. Apart from this, the rising usage of e-commerce channels for purchasing medical supplies and the availability of mini ultrasonic nebulizers and inhalers that have automatic memory and are easy to use while traveling are providing a positive thrust to the market growth. On account of these factors, IMARC Group expects the market value to reach US$ 63.3 Billion by 2028, expanding at a CAGR of 5.4% during 2023-2028.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
Dry Powder Inhalers
Single Dose Inhalers
Multi Dose Inhalers
Metered Dose Inhalers
Conventional Pressurized Inhalers
Soft Mist Inhalers
Nebulizers
Jet Nebulizers
Ultrasonic Wave Nebulizers
Vibrating Mesh Nebulizers
Breakup by Application:
Asthma
Chronic Obstructive Pulmonary Disease (COPD)
Cystic Fibrosis
Non-Respiratory Diseases
Diabetes
Analgesia
Parkinson's Disease
Breakup by Distribution Channel:
Retail Pharmacies
Hospital Pharmacies
Online Stores
Breakup by Region:
North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
3M Company
Aerogen
GlaxoSmithKline plc
Johnson & Johnson
Koninklijke Philips N.V.
Merck & Co. Inc.
Metall Zug AG
Recipharm AB (publ)
Teva Pharmaceutical Industries Ltd.
Vectura Group plc.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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