Global respiratory inhalers market estimated to witness high growth, owing to rising prevalence of respiratory diseases and growing adoption of smart inhalers
Global respiratory inhalers market is estimated to be valued at USD 33.11 Bn in 2024, exhibiting a CAGR of 5.8% over the forecast period (2024-2031). Growing prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD) and increasing adoption of smart respiratory inhalers can drive the market growth. Furthermore, favorable health reimbursement scenario for respiratory drugs across developed countries can also drive the market growth.
Market Dynamics:
Rising prevalence of respiratory diseases: Rising burden of respiratory diseases due to growing elderly population, rising air pollution levels and lifestyle changes can drive the market growth. According to the study published by Global Burden of Disease, COPD affected over 251 million people worldwide in 2016. Growing patient pool of asthma and COPD can boost demand for respiratory inhalers during the forecast period.
Growing adoption of smart inhalers: Integration of new age technologies such as sensors, connectivity, and mobile applications in inhalers help patients track medication use and dosages. For instance, Adherium'sSmartTurbo inhaler connects via Bluetooth to an App to guide patients in proper inhalation technique. Such smart inhalers are gaining widespread acceptance among patients and healthcare providers alike.
Rise in prevalence of respiratory diseases can drive the market growth
Global respiratory inhalers market growth is driven by rising prevalence of respiratory diseases across the world. According to the World Health Organization (WHO), respiratory diseases accounted for one in every 10 deaths globally in 2020. Chronic obstructive pulmonary disease (COPD) and asthma are some of the most common respiratory diseases affecting millions worldwide. Increasing pollution levels and changing lifestyle patterns also contribute to rising incidence of these respiratory illnesses. With no signs of improvement in environmental conditions or lifestyle habits, the patient pool suffering from asthma and COPD is expected to increase in the near future. This growing disease burden has led to increasing demand for respiratory inhalers that are used for symptom relief and disease management.
Growing geriatric population boosts demand for respiratory inhalers
Growing geriatric population can drive the market growth. Older people are more susceptible to develop respiratory diseases due to age-related weakening of the immune system and deterioration of lung function over time. According to the data published by United Nations, population aged 60 years and above will double by 2050 and triple by 2100. Since older adults often require long-term treatment support, rising number of elderly individuals contributes significantly to the sales of respiratory inhalers. Manufacturers are also focusing on developing respiratory delivery devices that cater to the special needs of the geriatric demographic such as ease of use and portability.
Alternative therapeutic options can pose threat
The availability of alternative therapeutic solutions for respiratory illnesses can hamper the respiratory inhalers market growth. Drugs like leukotriene receptor antagonists, Cromolyn sodium and monoclonal antibody medications offer alternative options for conditions like asthma. Targeted drug therapies are rising as alternatives to inhalers for chronic obstructive pulmonary disease (COPD) treatment. While inhalers still dominate the market, growing awareness about newer options might divert a section of the patient base in the future.
Poor medication adherence inhibits market potential
Low adherence of patients to prescribed inhaler-based therapy can hamper the market growth. According to studies, over 50% of asthma and COPD patients do not use their inhalers correctly or fail to refill prescriptions on time. Common reasons for poor adherence include device-related issues, inappropriate inhaler techniques, high costs or lack of motivation to follow long-term therapies. Since strong adherence is vital for achieving optimal clinical outcomes, the lack of it undermines the true market potential of respiratory inhalers. Manufacturers need to address patient experience challenges to drive better adherence rates.
Evolution of digital health opens new avenues
Integration of digital technologies can offer growth opportunities in the respiratory inhalers market. Advances in connected devices, sensors and cloud computing enable real-time tracking of therapy adherence as well as monitoring of clinical parameters like peak flow rates. Systems can be designed to deliver reminders, feedbacks and gamification elements to boost engagement. Several players are launching digital add-ons for their inhalers that sit within a digital healthcare platform. The evolution towards connected care solutions can amplify the clinical utility of inhalers while creating new revenue streams through data-driven services.
Focus on emerging markets presents untapped potential
Emerging economies in Asia and Latin America with growing populations and rising disease prevalence can offer opportunities for market growth. While developed regions have relatively higher penetration, developing countries still offer significant headroom considering their huge patient bases. Multinational companies are actively seeking partnerships and collaborations in these fast-developing markets. Local manufacturers are also strengthening their capabilities. The focus on low and middle-income country markets offers immense opportunities by tapping the prevailing unmet demand and need for respiratory drugs and delivery devices.
Link: https://www.coherentmarketinsights.com/market-insight/respiratory-inhalers-market-227
Key Development
- In June 2024, Boehringer Ingelheim, a pharmaceutical company, launched a new program that caps out-of-pocket costs at US$ 35 per month for eligible patients using the company's inhalers. This initiative aims to make Boehringer inhalers more affordable for patients who have struggled with the current healthcare system.
- In April 2024, Teva Pharmaceutical Industries Ltd. and Launch Therapeutics, Inc. =entered into a clinical collaboration to advance the research of Teva’s ICS-SABA (TEV-‘248). For adult and pediatric asthma purposes, Teva's TEV-'248 may be the first Dual-Action Asthma Rescue Inhaler to combine an Inhaled Corticosteroid with a Short-Acting Beta-Agonist (ICS-SABA).
- In September 2020, Teva Respiratory, LLC, a U.S. affiliate of Teva Pharmaceutical Industries Ltd., launched AirDuoDigihaler (fluticasone propionate and salmeterol) and ArmonAirDigihaler (fluticasone propionate), two new digital inhalers for asthma maintenance. AirDuo is used to control and prevent asthma symptoms in individuals of age 12 years and older, while ArmonAir is for long-term asthma treatment in the same age group.
- In February 2022, AstraZeneca and Honeywell collaborated to develop next-generation respiratory inhalers using the propellant HFO-1234ze, which has up to 99.9% lower global warming potential (GWP) compared to current propellants. This announcement aligns with AstraZeneca’s Sustainability Report, highlighting its progress on the Ambition Zero Carbon program.
Key Players: Koninklijke Philips N.V., General Electric Healthcare, ResMedInc., Fisher & Paykel Healthcare, Medtronic, Boehringer Ingelheim, GlaxoSmithKline plc, AstraZeneca, Novartis AG, Teva Pharmaceutical Industries Ltd., MylanN.V., Roche Holding AG, Johnson & Johnson, Sanofi S.A., Merck& Co., Inc., Hoffmann-La Roche Ltd, Otsuka Pharmaceutical Co., Ltd., Cipla Limited.
