Respiratory Inhaler Devices Market to grow at 4.4% CAGR during the forecast period 2021 – 2031
[250 Pages Report] Global respiratory inhaler device shipments are likely to grow at over 4% in 2021, as the medical device industry makes a gradual recovery. Innovation in smart inhaler technologies is likely to be a key focus area, but manual inhalers will still account for 90% of total demand. This stark contrast reflects the status-quo in the global medical device industry, where realization of new investment and bottom-lines are concurrent.
Global demand for respiratory inhaler devices continues to be driven by rising prevalence of COPD and asthma. According to the World Health Organization (WHO), nearly 251 million cases of chronic obstructive pulmonary disease (COPD) were reported worldwide in 2016 and nearly 339 million people were estimated to have asthma in the same year. Coupled with this, surging healthcare spending has been creating lucrative prospects for growth of the market.
Market players also are focusing on novel inhalation technologies to ascertain drug delivery to lungs. Spurred by these factors, the global market for respiratory inhaler devices is expected to report surging sales.
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Smart Inhaler Technology Touted as a Major BreakthroughSmart inhalers have been touted as a disruptive technology, and it remains a key focus area for manufacturers. Smart inhalers can signal patients if their overusing any medication, warning them against poor management of the condition. The technology is touted as a major breakthrough in the healthcare sector and one that is expected to enable growth in the respiratory inhaler devices market in the coming years.
Several studies already are underway gauging the potential of these development. For instance, My AirCoach, which is an EU-funded multi-institutional research project, aims at assessing how novel mobile health technologies, including smart inhalers, can help offering improved asthma control.
With myriad of developments underway, respiratory inhaler device shipments are likely to gain traction through 2030. FMI’s report offers a comprehensive analysis on how growth will unfold. Some of the key takeaways from the report are:
- Dry powder inhalers remain the most lucrative category
- Manually operated inhaler devices will remain preferred choice among available technologies
- Respiratory inhaler devices sales surging to offer improved asthma control and management
- US to remain a highly lucrative market for respiratory inhaler devices, however, growth in East Asia is expected to accelerate at a higher pace
“Some of the leading players are working on technologies that would enable monitoring and correction of inhalation techniques in the near future. They are developing smart inhalers that will use the Bluetooth technology to monitor inhaler use in patients. While several developments are underway, industry experts are cautiously examining the potential of smart inhalers to ensure all potential concerns pertaining to the novel technologies are ironed out. However once launched, smart technology can help the market gain momentum at accelerated pace in the near future,” said a lead analyst at FMI.
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Who is winning?Some of the leading companies are focusing on innovations and product launches to gain competitive advantage. There also are companies trying to capitalize on opportunities across high potential markets. For instance, Zydus Cadila has announced launching India’s first pressurized Metered Dose Inhaler (pMDI) – Forglyn pMDI with a combination of Long Acting Beta Agonist (LABA) and Long Acting Muscarinic Antagonist (LAMA) for COPD patients in October 2020.
In 2019, Lupin announced launching “ADHERO,” which is a connected smart device for metered dose inhalers and promises to ensure improved adherence to inhalation therapy for COPD treatment.
More Valuable Insights on Respiratory Inhaler Devices MarketIn the latest report by Future Market Insights, we offer an unbiased analysis of the global respiratory inhaler devices market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of product type (dry powder inhaler, metered dose inhaler, and nebulizer), technology (manually operated inhaler devices and digitally operated inhaler devices), disease indication (asthma, COPD, pulmonary arterial hypertension, other respiratory diseases), across six major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, MEA).
- Dry Powder Inhalers
- Metered Dose Inhalers
- Compressed Air Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers
- Manually Operated Inhaler Devices
- Digitally Operated Inhaler Devices
- Chronic Obstructive Pulmonary Disease
- Pulmonary Arterial Hypertension
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- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)