Inhaler Corticosteroid Device Market Forecast Projecting Expansion Across North America and Asia-Pacific

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Inhaler Corticosteroid Device Market- (By Steroid Types (Beclomethasone Dipropionate, Budesonide, Fluticasone Inhaler Powder, & Mometasone), By Application (Asthma, COPD (Chronic Obstructive Pulmonary Disease) and Others) By End-user (Hospitals and Clinics, Academic and Research Institutes and Respiratory Care Center)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Inhaler Corticosteroid Device Market is valued at US$ 616.09 Mn in 2023, and it is expected to reach US$ 886.4 Mn by 2031, with a CAGR of 4.6% during the forecast period of 2024-2031.

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The inhaled corticosteroid (ICS) device market is experiencing substantial growth, driven by the increasing prevalence of respiratory disorders and rising levels of air pollution. These factors have incentivized healthcare companies to develop advanced ICS delivery systems, thereby expanding the market.

ICS devices are specifically designed to deliver corticosteroids directly to the lungs, offering targeted and efficient treatment for chronic respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). These devices are essential for long-term disease management and are available in various formats, including metered-dose inhalers (MDIs), dry powder inhalers (DPIs), and nebulizers, catering to patients requiring consistent daily therapy.

Market expansion is further supported by demographic and macroeconomic trends, such as an aging population, increased awareness of respiratory health, and rising global healthcare expenditure. Additionally, escalating air pollution levels are driving higher demand for effective respiratory disease management solutions, contributing to the overall growth of the ICS device market.

List of Prominent Players in the Inhaler Corticosteroid Device Market:
• Pfizer Inc.
• GlaxoSmithKline plc
• Novartis AG
• Mylan N.V.
• Teva Pharmaceutical Industries Ltd.
• Sanofi
• Boehringer Ingelheim International GmbH.
• AstraZeneca
• F. Hoffmann-La Roche Ltd.
• Bristol-Myers Squibb Company
• Amgen Inc.
• Aurobindo Pharma
• Eli Lilly and Company
• Cipla Inc.
• Sumitomo Corporation

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Market Dynamics
Drivers:
The inhaled corticosteroid (ICS) device market is experiencing robust growth, primarily driven by the increasing global prevalence of asthma, a chronic respiratory disease marked by airway inflammation and obstruction. ICS devices are widely adopted across pediatric and geriatric populations due to their precise drug delivery, user-friendliness, and efficacy in symptom management. Expanding healthcare expenditure is enhancing medical infrastructure, facilitating broader access to ICS therapies. Additionally, public and private sector initiatives promoting respiratory health awareness, coupled with rising disposable incomes and higher smoking prevalence, are further supporting market expansion.

Challenges:
Despite positive growth trends, the ICS device market encounters several constraints. The expiration of patents for key branded drugs and the resulting introduction of lower-cost generics may limit revenue growth. In developing regions, restricted healthcare infrastructure and the relatively high cost of ICS therapies impede market penetration. Potential adverse effects associated with ICS use-such as oral thrush, coughing, hoarseness, and throat irritation-can negatively impact patient adherence. Furthermore, healthcare systems' increasing focus on cost-effectiveness influences procurement strategies, while environmental considerations are prompting manufacturers to develop inhalers using eco-friendly materials and low-impact propellants.

Regional Trends:
North America is expected to retain a dominant position in the ICS device market, supported by advanced healthcare infrastructure, a high prevalence of chronic respiratory diseases, and strong technological innovation. Market leadership is reinforced by a substantial patient population requiring ongoing respiratory care and a favorable regulatory and reimbursement environment. Ongoing research and development, strategic collaborations between industry leaders and academic institutions, and sustained investment in respiratory healthcare solutions are contributing to the continued growth of the ICS device market in the region.

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Recent Developments:
• In September 2020, GlaxoSmithKline plc and Innoviva, Inc. announced the U.S. Food and Drug Administration (FDA) approval for a new indication of Trelegy Ellipta. It is also used to treat patients suffering from chronic obstructive pulmonary disease (COPD).
• BreatheSuite is a 2018 startup firm based in St.Johns, Canada. It has developed an integrated inhaler device for medication adherence to manage COPD and asthma.
• CareTRx is a mobile app and sensor offered by Gecko Health for the management of asthma. The device is added to pre-existing inhalers. It aims at assisting patients to better manage their asthma by tracking medication use.

Segmentation of Global Inhaler Corticosteroid Device Market-
Global Inhaler Corticosteroid Device Market- By Steroid Types
• Beclomethasone Dipropionate
• Budesonide
• Fluticasone Inhaler Powder
• Mometasone
Global Inhaler Corticosteroid Device Market- By Application
• Asthma
• COPD (Chronic Obstructive Pulmonary Disease)
• Others
Global Inhaler Corticosteroid Device Market- By End-User
• Hospitals and Clinics
• Academic and Research Institutes
• Respiratory Care Center
Global Inhaler Corticosteroid Device Market- By Region
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.