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Respiratory Inhaler Devices Market Trends, Market Share, Size, Growth Status And Forecast To 2033
Respiratory Inhaler Devices Market Trends
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According to The Business Research Company's, The respiratory inhaler devices market size has grown strongly in recent years. It will grow from $38.54 billion in 2023 to $41.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to smoking epidemic, allergic disorders, pharmaceutical innovation, aging population.
The respiratory inhaler devices market size is expected to see strong growth in the next few years. It will grow to $54.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to air quality concerns, digital health integration, regulatory emphasis on inhaler safety, personalized treatment. Major trends in the forecast period include inhaler device miniaturization, sustainability and eco-friendly inhalers, home-based care, technological advancements.
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Market Drivers and Trends:
The growing prevalence of respiratory diseases is expected to propel the growth of the respiratory inhaler devices market going forward. Respiratory diseases are disorders that affect the lungs and the respiratory system, leading to breathing difficulties and impaired lung function. Respiratory inhaler devices are used to deliver medications directly to the lungs, providing fast and targeted relief for respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), respiratory syncytial virus infection and other respiratory conditions. For instance, in March 2023, according to the Centers for Disease Control and Prevention, a US-based national public health organization, in the United States, 8,300 tuberculosis (TB) cases were reported in 2022, a rise from 7,874 cases in 2021. Therefore, the growing prevalence of respiratory diseases propels the growth of the respiratory inhaler devices market.
Major companies operating in the respiratory inhaler devices market are adopting new technologies, such as metered dosage inhalers, to sustain their position in the market. A metered dosage inhaler (MDI) is a portable aerosol device that delivers a precise dose of medication to the lungs in the form of a mist or inhaled spray. For instance, in February 2022, AptarGroup Inc., a US-based consumer dispensing packaging and drug delivery device manufacturer, launched HeroTracker Sense. This advanced digital respiratory health solution converts a conventional metered dosage inhaler (pMDI) into a smart, connected medical apparatus. HeroTracker Sense is made to track patients' use of MDIs and facilitate better adherence to their recommended therapy to improve the lives of patients worldwide who suffer from chronic respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis and other respiratory conditions brought on by COVID-19. HeroTracker Sense provides valuable analytics and insights into patient training, onboarding and performance to healthcare providers (HCPs) through the Aptar Pharma Cohero Health BreatheSmart Connect portal.
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Respiratory Inhaler Devices Global Market Report 2024
Merck & Co. Inc., Novartis AG, AstraZeneca PLC, Gerresheimer AG, GlaxoSmithKline PLC, 3M, Boehringer Ingelheim International GmbH, Koninklijke Philips N.V., Viatris Inc., Teva Pharmaceutical Industries Ltd., Catalent Inc., Perrigo Company PLC, AptarGroup Inc., Recipharm AB, Chiesi Farmaceutici S.p.A., Cipla Limited, Hikma Pharmaceuticals PLC, Zydus Lifesciences Limited, Lupin Limited, Glenmark Pharmaceuticals Ltd., Orion Corporation, Sumitomo Pharma America Inc., Beximco Pharmaceuticals Ltd., Hovione Limited, Vectura Group Limited, H&T Presspart Manufacturing Ltd., Pari Medical Holding GmbH, OMRON Healthcare Europe B.V., Medisol Lifescience Pvt. Ltd., Consort Medical plc.
Respiratory Inhaler Devices Market 2024 Key Insights:
• The pharmaceutical chemicals market size is expected to see strong growth in the next few years. It will grow to $182.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Rising Prevalence Of Respiratory Diseases Drives Growth Of Respiratory Inhaler Devices Market
• Adoption Of Advanced Metered Dosage Inhaler (MDI) Technology By Market Leaders To Enhance Respiratory Inhaler Devices
• North America was the largest region in the respiratory inhaler devices market in 2023
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