The global Respiratory Inhalers Market Growth Accelerated by Rising Prevalence of Respiratory Diseases

Respiratory inhalers are medical inhalation devices used for delivering medicinal aerosol to the lungs. They provide quick relief to respiratory diseases like asthma and COPD. Major types include metered-dose inhalers (MDI), dry powder inhalers (DPI) and soft mist inhalers (SMI). Their ease of use and ability to deliver drugs directly to the lungs make them a preferred mode of treatment.

The global Respiratory Inhalers Market is estimated to be valued at US$ 34.05 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising prevalence of respiratory diseases like asthma and COPD is the major driver accelerating the growth of respiratory inhalers market. According to the Centers for Disease Control and Prevention (CDC), asthma affects over 25 million people in the U.S. including over 6 million children. COPD is also on a rise and is projected to be the third leading cause of death globally by 2030. Increased pollution levels, smoking habits and aging population contribute to the growing incidence of respiratory illnesses. This growing patient pool drives the demand for effective inhaler-based medications for maintenance and relief of symptoms.

Segment Analysis
Dry powder inhalers is expected to dominate the respiratory inhalers market size during the forecast period. Dry powder inhalers are preferred over metered-dose inhalers and soft mist inhalers as they are breath-actuated, require less coordination between actuation and inhalation, and have a higher lung deposition. However, metered-dose inhalers account for a significant share due to their low cost and widespread availability for treating asthma and COPD.

Key Takeaways
The global Respiratory Inhalers market is expected to witness high growth. The global Respiratory Inhalers Market is estimated to be valued at US$ 34.05 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to 2031.

The North America respiratory inhalers market is expected to hold the largest market share during the forecast period. This is attributed to the rising prevalence of respiratory diseases such as asthma and COPD, higher adoption of inhalers due to better healthcare infrastructure, and presence of major inhaler manufacturers in the region. Europe is also projected to account for a significant market share owing to increasing healthcare spending and government initiatives to curb air pollution levels.

Key players operating in the Respiratory Inhalers market are Simpson Strong-Tie Co., Inc., Fast-Stairs Inc., Pylex Products, Dolle USA, Universal Forest Products, Inc., Regal Ideas Inc., Arke Stairs, The Iron Shop, EZ Stairs & Century Aluminum Railings.

These players are focusing on new product launches, collaborations and expansions to gain a competitive edge in the market. For instance, in March 2022, Dolle USA launched a new line of stairs and railing kits to expand its product portfolio.