Global Respiratory Inhalers Market Report and Forecast 2024-2032

Global Respiratory Inhalers Market Outlook

The global respiratory inhalers market size was valued at USD 33.5 billion in 2023, driven by the rising prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD) across the 8 major markets. The market is expected to grow at a CAGR of 5.4% during the forecast period of 2024-2032, with the values likely to rise from USD 35.3 billion in 2024 to USD 53.9 billion by 2032.

Key Takeaways

• The prevalence of chronic obstructive pulmonary disease (COPD) is estimated to be 12% in the general population, ranking as the 3rd leading cause of global mortality.

• In June 2023, Gilbert Technologies raised EUR 7 million in Seed and Series A funding to accelerate the development of its Electro Hydrodynamic Atomization (EHDA) technology and smart precision inhaler solutions for lung patients.

• One of the significant market trends is the development and use of inhalers that combine multiple medications in a single device such as the FDA-approved asthma rescue inhaler Airsupra.

Respiratory inhalers are handheld, portable medical devices that allow the delivery of medication directly to the lungs through the individual’s mouth. They are usually employed to treat asthma and chronic obstructive pulmonary disease (COPD). The inhalation route of administration offers a distinct advantage by maximizing the concentration of the drug in the target tissue, providing the highest potential therapeutic effect.

The respiratory inhalers market is driven by the rising cases of respiratory disorders propelling the demand for efficient inhaler devices. The introduction of innovative products such as smart inhalers by market leaders is also expected to fuel the market expansion in coming years. Furthermore, the rising healthcare expenditure and heightened patient awareness are likely to augment the market demand for respiratory inhalers.

Global Respiratory Inhalers Market Trends and Developments

Advancements in inhaler technology, integration of digital health solutions, increased focus on combination therapies, and environmental sustainability initiatives comprise some of the key trends and developments in the market.

Global Respiratory Inhalers Market Growth Factors

The market is experiencing significant growth driven by the rising prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis. These conditions fuel the demand for respiratory inhalers to manage the symptoms. Moreover, the rising air pollution levels and the growing geriatric population is more susceptible to respiratory disorders are some of the factors bolstering market growth.

The respiratory inhalers market size is poised to witness a steady expansion supported by rising disposable incomes, heightened patient awareness towards respiratory health, and increased initiatives by the government to improve patient outcomes. Moreover, the increased strategic partnerships between the key market players to introduce technologically advanced inhaler systems in the market are likely to augment market size in the forecast period.

Global Respiratory Inhalers Market Segmentation

“Global Respiratory Inhalers Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

By product, the market comprises dry powder inhalers, metered dose inhalers, soft mist inhalers, and nebulizers. The nebulizers are further divided ino jet nebulizers, ultrasonic nebulizers, and mesh nebulizers. This market segment offers a range of options for medication delivery based on patient needs and preferences.

Based on the type, the market is segmented into conventional inhalers and smart inhalers. Smart inhalers leverage digital technology for enhanced monitoring and management of respiratory conditions.

Indications for respiratory inhalers market share include asthma and chronic obstructive pulmonary disease (COPD). They are some of the most common respiratory conditions affecting millions of people worldwide.

End-users of the market are hospitals, clinics, homecare settings, and other healthcare facilities where patients receive treatment for respiratory conditions.

Based on the region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Factors such as the prevalence of respiratory disorders, regulatory policies, and the level of advancement in healthcare infrastructure influence the market dynamics of respiratory inhalers across different regions.

Competitive Landscape

The key market players are contributing to the respiratory inhalers market growth through strategic mergers and acquisitions initiatives, novel product launches, and continuous research and development efforts aimed at bringing technological advancements in the market. 

Other key players in the market include Lupin, Teva Pharmaceutical Industries Ltd, OMRON Corporation, Koninklijke Philips N.V., PARI GmbH, Boehringer Ingelheim International GmbH, GLENMARK PHARMACEUTICALS LTD, Presspart Verwaltungs GmbH, Rossmax International Ltd, HELTMAN Medikal A.S., and Microlife Corporation.

Global Respiratory Inhalers Market Analysis by Region

North America is predicted to lead the market share for respiratory inhalers, owing to the presence of advanced healthcare infrastructure and better accessibility to innovative inhaler products. Additionally, with pioneering market leaders integrating latest technologies in inhaler systems, the demand for respiratory inhalers to treat and manage respiratory disorders is expected to rise in the coming years.

Europe also holds a high market value which can be attributed to the rising cases of COPD in the region, estimated to carry an annual direct cost of around EUR 38.6 billion . In addition, the existence of premium research institutes and medical device companies in the region plays a pivotal role in accelerating the growth of the market.

Key Highlights of the Report