Respiratory Inhalers Market to Grow at 5.7% CAGR to Reach $43.44Bn by 2028 - The Insight Partners

The Insight Partners published latest research report on "Respiratory Inhalers Market Size Report, Share, Trends, Growth and Revenue Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type, and Disease Indication" the global market size is expected to grow from USD 31,144.56 million in 2022 to USD 43,446.19 million by 2028; it is estimated to record a CAGR of 5.7% from 2022 to 2028.

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Global Respiratory Inhalers Market Growth Drivers:

•           Increasing prevalence of respiratory diseases: The rising incidence of respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis is one of the key factors driving the growth of the respiratory inhalers market. According to the World Health Organization, an estimated 334 million people worldwide suffer from asthma, and the prevalence of COPD is also increasing.

•           Technological advancements: The development of advanced inhaler technologies is another important driver of market growth. Innovations such as smart inhalers, which use sensors to track usage and provide feedback to patients and healthcare providers, are gaining popularity.

•           Rising geriatric population: The aging population is also contributing to the growth of the respiratory inhalers market. Elderly people are more likely to develop respiratory diseases, and are therefore in need of inhalers to manage their symptoms.

•           Increasing healthcare expenditure: The increasing healthcare expenditure across the globe is driving the growth of the respiratory inhalers market. Governments and private organizations are investing in the development of new inhaler technologies, which is likely to boost market growth in the coming years.

•           Growing demand for portable inhalers: The demand for portable inhalers is also increasing, as they offer convenience and ease of use to patients. This trend is expected to continue in the coming years, especially with the development of more compact and portable inhaler technologies.

Global Respiratory Inhalers Market Analysis - Recent Developments:

•           Smart Inhalers: Smart inhalers are becoming increasingly popular, as they can monitor usage and provide feedback to patients and healthcare providers. In 2021, Teva Pharmaceuticals launched the first FDA-approved digital inhaler, ProAir Digihaler, which uses sensors to track inhaler use and provide data to patients and healthcare providers.

•           New Product Launches: Several new inhaler products have been launched recently, including AstraZeneca's Breztri Aerosphere, a triple combination therapy for COPD, and Boehringer Ingelheim's Spiriva Respimat, a new version of their popular Spiriva inhaler.

•           Partnerships and Collaborations: Partnerships between pharmaceutical companies and technology providers are becoming more common, as they seek to develop new inhaler technologies. In 2020, Novartis partnered with Propeller Health to develop a custom add-on sensor for their Breezhaler inhaler, and in 2021, AstraZeneca partnered with Adherium to develop a smart inhaler for their Symbicort inhaler.

•           Regulatory Changes: The regulatory environment for inhalers is evolving, with new guidelines and regulations being implemented. In 2021, the FDA announced new draft guidance for the development of inhalers, which includes recommendations for the use of real-world data in clinical trials.

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Global Respiratory Inhalers Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 254 pages with 165 list of tables & 77 list of figures from the report, "Respiratory Inhalers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type [Nebulizers, Metered Dose Inhalers (MDI), and Dry Powder Inhalers], Technology (Manually Operated Inhalers and Digitally Operated Inhalers), and Disease Indication (Asthma, COPD, Pulmonary Arterial Hypertension, and Others)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/respiratory-inhalers-market

Increasing Product Development Activities to Boost Respiratory Inhalers Market Growth During (2022-2028):

With new medical knowledge and effective medicines, treatment with a wide range of asthma inhalers continues to advance. Rising use of ventilator combination therapies and increasing investments by major players in developing sophisticated ventilator inhalers are boosting the demand for respiratory inhalers. In addition to the numerous advantages of the device such as portability, convenience, and effectiveness, the growing number of product approvals and developments is expected to strengthen the demand for respiratory inhalers in the coming years. A few of the major developments and approvals are listed below:

•           In November 2022, AstraZeneca partnered with Avillion to develop PT027, an asthma rescue inhaler. PT027 is a pressurized metered-dose inhaler that delivers a fixed dose of two combined asthma medications: albuterol—a short-acting beta2-agonist and budesonide, an anti-inflammatory inhaled corticosteroid.

•           In December 2020, OMRON launched WheezeScan, the world’s first wheeze detection device to help children with asthma, which is a crucial breakthrough in the field of pediatric asthma management. WheezeScan helps parents of young children detect wheezing—a clear indicator of an upcoming asthma attack-—and act accordingly.

•           In December 2020, AireHealth, an innovative digital health company, received 510(k) clearance for its connected nebulizer. The device is a portable, electronic vibrating mesh nebulizer designed to nebulize liquid medications for inhalation by a patient in and out of the home and will be marketed under the brand name VitalMed.

•           In October 2020, Teva Canada, a subsidiary of Teva Pharmaceutical Industries Ltd., declared the product availability of Aermony RespiClick in Canada. The inhaler is indicated for the maintenance treatment of steroid-responsive bronchial asthma as prophylactic therapy in patients 12 years of age and older and is offered in a simple-to-use inhaler.

•           In September 2020, Teva Respiratory, LLC., a US affiliate of Teva Pharmaceutical Industries Ltd., announced the launch of AirDuo Digihaler inhalation powder and ArmonAir Digihaler inhalation powder, two digital maintenance inhalers for patients with asthma.

•           In September 2020, GlaxoSmithKline plc and Innoviva, Inc. received FDA approval for Trelegy Ellipta as the first once-daily single inhaler triple therapy for the treatment of both asthma and COPD in the US.

•           In July 2020, Novartis received the European Commission (EC) approval for Enerzair® Breezhaler®, including the first digital companion (sensor and app) that can be prescribed alongside treatment of uncontrolled asthma in the EU.

•           In May 2020, Propeller Health, a leading digital health company dedicated to the management of asthma and COPD, received FDA clearance to introduce its connected platform to AstraZeneca's Symbicort. The platform helps digitize the treatment of asthma and chronic obstructive pulmonary disease (COPD)

•           In January 2020, FDA approved the CapMedic smart inhaler cap from Cognita Labs, which is capable of transmitting signals to patients to use inhalers correctly.

Thus, such increasing advancements by various market players and product approvals are likely to catalyze the growth of the global respiratory inhalers market during the forecast period.

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