by Market Overview:
Respiratory inhalers are medical devices used for delivering medication to the lungs. There are mainly two types of respiratory inhalers – metered dose inhalers (MDIs) and dry powder inhalers (DPIs). MDIs release a short burst of medication on actuation into the breathing passage whereas DPIs release a dry powder form of medication. DPIs are preferred over MDIs as they are breath-actuated and require less coordination. Respiratory inhalers are used for the treatment of asthma and chronic obstructive pulmonary disease (COPD). They provide quick relief from symptoms such as breathlessness, wheezing, chest tightness etc. Dry powder inhalers and pressurized metered dose inhalers (pMDIs) are commonly used for this purpose.
Market Dynamics:
Growing prevalence of respiratory diseases such as asthma and COPD is expected to be a major driver for the respiratory inhalers market over the forecast period. According to the Global Asthma Network, around 339 million people across the globe suffered from asthma in 2020. Growing pollution levels, changing lifestyle habits, and aging population are contributing to the increasing incidence of respiratory disorders. This is anticipated to upsurge the demand for respiratory inhalers for effective management of symptoms.
Another driver for the market growth is the increasing adoption of digital health solutions such as connected respiratory inhalers. Integration of inhalers with mobile applications and sensors allows real-time monitoring of medication use and symptoms. This helps patients and doctors with better disease management. Growing preference for digital therapeutics over traditional methods is boosting the digital connected inhalers market.
Segment Analysis
The North America Respiratory Inhalers Market Demand is segmented into metered dose inhalers, dry powder inhalers, and nebulizers. The metered dose inhalers segment currently dominates the market due to the widespread availability of generic inhalers coupled with lower costs as compared to other inhalation devices. Moreover, metered dose inhalers can be effectively used with the advance of digital technology integrated inhalers that assist patients with effective medication administration.
PEST Analysis
Political: Regulations regarding the quality standards and approval processes of respiratory inhalers help ensure patient safety and efficacy of devices.
Economic: Growing healthcare expenditures and infrastructure along with rising awareness regarding respiratory diseases boost the market growth.
Social: Increasing global pollution levels, lifestyle changes, and aging population have elevated the prevalence of respiratory disorders in the region.
Technological: Integration of digital technologies in respiratory inhalers helps improve medication adherence and treatment outcomes through connected health solutions and smartphone apps.
Key Takeaways
The North America respiratory inhalers market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period due to increasing prevalence of respiratory diseases such as asthma and COPD supported by risk factors like growing pollution levels, aging population, and lifestyle changes. The market size for 2023 is US$ 29.55 Bn.
The United States dominates the North America respiratory inhalers market owing to the presence of major players, high healthcare expenditure, rising pollution levels, and growing geriatric population susceptible to respiratory illnesses in the region.
Key players operating in the North America respiratory inhalers market are AstraZeneca Plc, Beximco Pharmaceuticals Ltd., Boehringer Ingelheim International GmbH, Cipla Ltd, GSK Plc, Koninklijke Philips NV, OMRON Corp, OPKO Health, Inc, PARI Respiratory Equipment, Inc., and Teva Pharmaceutical Industries Ltd. The companies are focusing on expanding their product portfolios with digital inhalers integrated with connected health technologies for improved medication adherence and management of respiratory diseases.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
