Respiratory Inhalers Market - Global Outlook and Forecast 2020-2025

INDUSTRY INSIGHTS

The global respiratory inhalers market size will reach USD 5 billion by 2025, growing at a CAGR of 9% during the forecast period. The market is one of the steadily growing segments in the global medical devices market. The steady growth can be attributed to the growing prevalence of asthma, COPD, and cystic fibrosis and the outbreak of the COVID-19 pandemic. The prevalence of COPD and other respiratory disorders has increased at a significant rate over the last few years across the globe. According to the WHO, COPD is expected to emerge as the third leading cause of death across the world by 2025. The increasing incidence of respiratory diseases and the growing demand for treatment options for respiratory disorders are fueling the market growth of therapeutic respiratory care devices. Further, the presence of established infrastructure in several countries of North America, Europe, and APAC, coupled with the availability of well-developed technologies that allow early implementation of advanced inhalation technologies, increases the demand for inhalers. Favorable government initiatives in emerging economies toward improvising standard healthcare infrastructure and increased focus on healthcare expenditure are also aiding to focus on offering high-quality healthcare services.

SNIPPETS

• The metered dosage inhalers segment is likely to register an incremental growth of over $1 billion by 2025 as MDIs combine the practical benefits of size, portability, convenience, and unobtrusiveness.
• The adult segment is expected to grow at the highest CAGR of over 10% during the period 2019–2025. The growth is on account of the high prevalence of COPD and other respiratory disorders.
• The online segment is observed to register growth at the highest CAGR of over 10% from 2019–2025. The growth is because of the increasing popularity of e-commerce channels in the healthcare sector.
• The APAC region is expected to touch revenue of close to $1.4 billion by 2025. The growth in the region is driven mainly by increased affordability and the presence of a large patient population.
• The respiratory inhalers market in India is expected to grow significantly due to the presence of high asthma and COPD population.

GLOBAL RESPIRATORY INHALERS MARKET SEGMENTATION

This research report includes a detailed segmentation by

• Products
• Patient
• Distribution Channel
• Geography

INSIGHTS BY PRODUCT

 The metered dosage inhalers segment is expected to over 2.5 billion by 2025 due to the outbreak of COVID-19, which has led to the increased usage of inhalers among the patients. Pressurized metered dosage inhalers (pMDIs) and dry-powder inhalers (DPIs) are commonly used among end-users. pMDIs are mostly used among developing and underdeveloped countries due to their low price and easy availability in pharmacies. DPI, breath-actuated inhalers, and soft mist inhalers will gain popularity in developed countries such as the US, the UK, and Germany as the treatment in the countries are covered under insurance and reimbursement policies. Developed countries are the matured market, where most advanced versions of smart inhalers are used among people. MDIs are considered as the first line of treatment for major respiratory disorders such as COPD and Asthma. However, a major challenge faced by the segment is the lack of awareness among patients and healthcare providers regarding the correct usage of MDIs.

In 2019, the DPI segment accounted for the share of 46% of the global respiratory inhalers market. The increased efficiency of drug usage is the major driving force for the growth of DPIs. Drug deposition in the lung was twice that of pMDI, which suggests a low dosage of the drug with reduced side-effects helps to achieve the same degree of asthma control. The majority of DPIs have the dose counter, which allows detecting the number of dosages remaining. These devices are user-friendly and convenient; hence they are preferred by patients over MDIs.

INSIGHTS BY PATIENT 

The respiratory inhalers market is segmented into pediatric and adults age groups. In. 2019, the adult segment accounted for the share of 68%, and the pediatric population constituted a share of 32% in the respiratory inhalers market. The adult population is widely exposed to several environmental risk factors such as air and workplace pollutions and the consumption of tobacco. This contributes to the high share of the adult population in the market. While the prevalence of asthma is increasing in several countries, multiple factors are affecting the incidence of asthma in the adult population. With the eruption of the COVID-19 pandemic, the number of adults infected is higher than pediatric and neonates populations. Therefore, the demand for inhalers has gone drastically up across the globe due to the spread of the virus.

Managing asthma in pediatrics is not as adults. Pediatric patients are overly sensitive and require a high level of care and comfort and convenient device usage. MDIs, along with spacers, are widely used to treat children suffering from respiratory disorders. Corticosteroids and bronchodilator therapies are routinely delivered by pMDI and the spacer system for children under the age of five years. The prevalence of asthma is higher in urban areas than in rural areas. The incidence of asthma is higher in high-income countries than low- and middle-income ones.

INSIGHTS BY DISTRIBUTION CHANNEL

The hospital pharmacy segment accounted for a share of 47%. Hospitals are the first point of contact for the evaluation and treatment of respiratory diseases such as asthma and COPD. As the number of hospitals has grown over the period, the count of hospital pharmacies has also increased. In the middle- and low-income countries, several smaller clinics, nursing homes have tie-ups with hospital pharmacies to refer patients to purchase branded medical devices for usage.

In 2019, the retail distribution channel segment constituted a share of 43% of the global respiratory inhalers market. Retail pharmacies are picking up pace in the healthcare industry and developing countries such as India, China, Mexico, and other countries. Retail stores have been a proven model for consumers to buy products and services. The retail market holds immense potential because most countries are underpenetrated. In developing countries, the demand for retail pharmacy stores is increasing drastically. Major retail pharmacies in India include Noble plus pharmacy, Apollo pharmacy, Wellness forever pharmacy, Med plus health services, and other pharmacies. Hence, with the increase in the global disease burden in the population, the retail pharmacy sector is expected to observe surge. Although the online segment is expected to increase its reach during the forecast period, the segment constituted only a 10% market share in 2019. 

INSIGHTS BY GEOGRAPHY

North America has dominated the global inhalers market, and dominance is mainly due to the increase in the prevalence of several respiratory diseases. The US has been the earliest adopters of the latest inhaler technology to reduce the rate of COPD. In North America, both the US and Canada experienced a large-scale adoption of these devices over the last decade. The rise in pollution rates, along with the growing number of cases of respiratory troubles, is one of the major reasons that boosts the overall demand in the region.  Besides, since the outbreak of the COVID pandemic, the need for inhalers has grown significantly in ICUs and emergency rooms. A large population on a medical ventilator are supported with inhalers for increased effectiveness of the medicine. Although the market is expected to grow at a slower rate than other regions, there is a surge in demand for inhalers in the region, especially in the US owing to the COVID-19 pandemic. The country will witness growth as the national health spending is projected to grow at an average annual rate of over 5% during the period 2019–2028, reaching $6.2 trillion by 2028.

INSIGHTS BY VENDORS

The global respiratory inhalers market share is fragmented with the presence of several global, regional, and local vendors offering a wide range of products. GSK, Novartis, BOEHRINGER INGELHEIM, Cipla, and AstraZeneca are the key players dominating the global market. Although large vendors dominate the market, they are witnessing heavy competition from regional and local companies from India, China, Italy, and Germany. Many regional vendors are also offering cost-effective products in Europe, APAC, and the Middle East & Africa regions.

The global respiratory inhalers market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

By Product

• Metered Dosage Inhaler
• Dry Powder Inhaler

By Patient

• Adults
• Pediatric

By Distribution Channel

• Hospital Pharmacies
• Retail
• Online

By Geography

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• APAC
  • China
  • Japan
  • South Korea
  • Australia
  • India
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Turkey