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Dry Powder Inhaler Market Share, Trend Analysis, Key Drivers, Size And Forecast To 2033
Dry Powder Inhaler Market Share
According to The Business Research Company's, the dry powder inhaler market size has grown strongly in recent years. It will grow from $20.18 billion in 2023 to $21.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to renewed interest in sustainable building materials, cultural preservation and heritage restoration, rise in green building practices, local sourcing and community involvement, regulatory support and building codes.
The dry powder inhaler market size is expected to see steady growth in the next few years. It will grow to $25.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to continued emphasis on sustainability, global urbanization trends, advancements in manufacturing processes, government incentives and policies, global economic factors. Major trends in the forecast period include increased research and development, renewed interest in traditional building techniques, advancements in material technology, architectural and design trends, regulatory support for sustainable construction.
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Market Drivers and Trends:
The growing prevalence of respiratory diseases is expected to propel the growth of the dry powder inhaler market going forward. Respiratory diseases refer to respiratory disorders or lung diseases, encompassing a broad category of medical conditions affecting the respiratory system. Dry powder inhalers are essential in treating respiratory conditions such as asthma, COPD, and cystic fibrosis as they deliver medicine directly to the lungs, where it is most effective. It is a promising alternative to traditional drug delivery methods for respiratory diseases. For instance, in June 2023, according to reports published by the Australian Institute of Health and Welfare, an Australia-based national agency, there was a rise in respiratory disease-related deaths from 43,031 in 2020 to 46,551 in 2021 in Australia. Therefore, the growing prevalence of respiratory diseases will drive the growth of the dry powder inhaler market.
Major companies operating in the dry powder inhaler market are developing innovative products with muscarinic antagonist for treating chronic obstructive pulmonary disease (COPD) and expanding their product portfolio. A muscarinic antagonist is a drug that inhibits the muscarinic acetylcholine receptor. It controls and treats various illnesses, such as COPD and organophosphate poisoning. For instance, in June 2021, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company, launched Tiogiva, a long-acting muscarinic antagonist dry powder inhaler (DPI) that is used to treat chronic obstructive pulmonary disease (COPD) in the UK. It is the bioequivalent generic version of Boehringer-Ingelheim's Spiriva Handihaler. It functions by calming the muscles in the airways, which facilitates breathing. It is taken once a day and is indicated for the long-term maintenance treatment of COPD in adults. Moreover, it is easy to use and does not require a spacer.
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Major Key Players of the Market:
Novartis AG, AstraZeneca plc., GlaxoSmithKline Plc, 3M Company , Boehringer Ingelheim GmbH, Viatris (Mylan N.V), Otsuka Pharmaceutical Co. Ltd, Sun Pharmaceutical Industries Limited, Catalent Inc., Aptar Group Inc., Chiesi Farmaceutici S.p.A., Recipharm AB, Cipla Limited, Lupin Limited, Orion Corporation, OPKO Health, Zhejiang Hisun Pharmaceutical Co Ltd, Beximco Pharmaceuticals Ltd, Sava Healthcare Ltd., Hovione, Elpen S.A., MannKind Corporation, Meda Pharmaceuticals , Presspart Manufacturing Ltd, SMB Laboratories SA, Teva Pharmaceutical Industries Limited, Pharmaxis Ltd., Iconovo AB, SRS Pharmaceuticals Pvt. Ltd.
Dry Powder Inhaler Market 2024 Key Insights:
• The dry powder inhaler market is expected to grow to $25.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Rising Prevalence Of Respiratory Diseases Fuels Growth In The Dry Powder Inhaler Market
• Innovative Products And Market Expansion Strategies In The Dry Powder Inhaler (DPI) Market
• North America was the largest region in the dry powder inhaler market in 2023
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