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Strong Growth Ahead: Metered Dose Inhaler Devices Market Size To Grow At Arecord 5.5% Cagr By 2029
Metered Dose Inhaler Devices Market
How Big Is the Metered Dose Inhaler Devices Market Size Expected to Be by 2034?
The market for metered dose inhaler devices has witnessed robust growth in recent times. It is projected to escalate from a value of $15.46 billion in 2024 to reach $16.36 billion in 2025, showcasing a compound annual growth rate (CAGR) of 5.8%. The significant growth observed in the past can be associated with a higher incidence of diabetes, a surge in demand for metered dose inhaler devices, an increase in the number of metered dose inhaler devices, a rising need for these devices, and a growing prevalence of COPD.
Expected to witness robust expansion in the coming years, the size of the metered dose inhaler devices market is projected to reach $20.29 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.5%. This anticipated growth within the forecasting period can be linked to the rising incidence of chronic obstructive pulmonary diseases, an increase in asthma prevalence, a surge in infectious diseases cases, an uptick in diabetes occurrences, and a growth in respiratory diseases diagnostics. Key trends expected to shape the forecast period include technological progress, pioneering therapies, regulatory approvals, the introduction of novel inhalers, and the embrace of digital marketing tools.
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What Are the Emerging Segments Within the Metered Dose Inhaler Devices Market?
The metered dose inhaler devices market covered in this report is segmented -
1) By Type: Desktop Metered Dose Inhaler Devices, Portable Metered Dose Inhaler Devices, Other Types
2) By Distribution Channel: Online, Offline
3) By Application: Asthma, Chronic Obstructive Pulmonary Disease, Other Applications
4) By End-User: Hospitals, Clinics, Homecare Settings, Other End Users
Subsegments:
1) By Desktop Metered Dose Inhaler Devices: Standard desktop MDI devices, High-performance desktop MDI devices, Smart desktop MDI devices
2) By Portable Metered Dose Inhaler Devices: Conventional portable MDI devices, Advanced portable MDI devices, Smart portable MDI devices
3) By Other Types: Nebulizer-Based MDI devices, Dry powder inhaler (DPI) combined devices, Soft mist inhaler (SMI) devices, Other specialized MDI devices
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What Long-Term Drivers Are Shaping Metered Dose Inhaler Devices Market Trends?
The metered dose inhaler devices market is projected to witness significant growth due to the rising instances of chronic obstructive pulmonary diseases (COPD). COPD is a progressive lung disease caused by continued exposure to irritants like cigarette smoke, leading to airflow obstruction and symptoms such as coughing, shortness of breath, and wheezing. This escalation in COPD cases is attributed to factors like tobacco use, air pollution, aging populations, and delayed diagnosis or treatment. Metered dose inhaler (MDI) devices are beneficial in managing COPD as they deliver medication directly to the lungs, enhancing airflow and offering immediate relief. As per the National Institutes of Health, a US-based government agency, it is anticipated that the number of COPD cases will increase from 532 million in 2030 to a staggering 592 million by 2050. Consequently, this surge in chronic obstructive pulmonary diseases is steering the growth of the metered dose inhaler devices market.
Who Are the Top Competitors in Key Metered Dose Inhaler Devices Market Segments?
Major companies operating in the metered dose inhaler devices market are Pfizer Inc., Merck & Co. Inc., AstraZeneca PLC, GlaxoSmithKline plc, 3M Company, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., Berry Global Inc., AptarGroup Inc., Philips Healthcare, Chiesi Farmaceutici S.p.A., Cipla Limited, Gerresheimer AG, Zydus Lifesciences Limited, Mylan N.V., Nemera, Beximco Pharmaceuticals Limited, Cohero Health Inc., Bespak Europe Ltd., Trudell Medical International, Iconovo AB
What Actigraphy Devices Market Trends Are Gaining Traction Across Different Segments?
Market leaders in the metered dose inhaler devices sector are concentrating their efforts on constructing technologically sophisticated solutions, such as pressurized metered dose inhalers for improved drug delivery efficacy and patient adherence. Pressurized metered-dose inhalers (pMDIs) are inhalation apparatuses that efficiently dispense an accurate amount of medication in aerosol form via a pressurized propellant. In July 2023, for example, India-based pharmaceutical firm Lupin Limited introduced Luforbec 100/6, a pressurized metered dose inhaler (pMDI) designed to treat adult asthma and chronic obstructive pulmonary disease (COPD) in Germany. This product merges beclometasone (100 μg) and formoterol (6 μg) to offer a beneficial solution for patients in need of combination therapy. Luforbec is about 47% cheaper than the fixed reference price, thus increasing its reachability. With approximately 5% of adults in Germany suffering from asthma, this product launch demonstrates Lupin's dedication to addressing serious healthcare needs and enhancing patient results in respiratory care.
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Which Regions Are Becoming Hubs for Metered Dose Inhaler Devices Market Innovation?
North America was the largest region in the metered dose inhaler devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metered dose inhaler devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Metered Dose Inhaler Devices Market?
2. What is the CAGR expected in the Metered Dose Inhaler Devices Market?
3. What Are the Key Innovations Transforming the Metered Dose Inhaler Devices Industry?
4. Which Region Is Leading the Metered Dose Inhaler Devices Market?
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