Global Inhaler Market Stats

Global Inhaler Market Stats - In this blog, we are covering all the information regarding the Global Inhaler Market Stats. The increasing demand for respiratory devices globally led to a new market for starting a profitable business. Since COVID hit, the supply of has been increasing twofold worldwide for respiratory devices, especially inhalers. 

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COVID-19 had a positive effect on the demand for respiratory devices around the world. This also leads to the opening up of new distribution channels and awareness among the people. These inhalers are used for delivering the medications directly to the lungs for effective and fast results, which are very much required for any respiratory illnesses. 
Read in Hindi - ग्लोबल इनहेलर मार्केट स्टैट्स 

Inhalers and their Major Segments 

These inhalers are medical devices with in-built technology for monitoring patients suffering from respiratory illnesses. New devices in the market can also monitor and alert the user regarding air pollution and high pollen in their surroundings. These smart inhalers use sensor technology to automatically track the patient’s medical history and monitor the dosage. 

Smart Inhalers are categorized into three types on the basis of product, Distribution channels, and disease. 

By Product, categories are -  

1. Dry Powder inhalers (DPI)
2. Metered Dose Inhalers (MDI)

MDI dominates the global inhaler market because drugs are contained in canisters and the patient has control over the amount of drug dispersed into the lungs. That’s why it shows lucrative growth. On the other hand, DPI has some disadvantages that lead to low market share globally. 

By disease, categories are - 

1. Asthma
2. Chronic Obstructive Pulmonary Disease (COPD)

Asthma has a much larger hold in the market globally. However, the COPD market share is quite lucrative and shows exponential growth over the years. With increasing air pollution, these two respiratory illnesses are going to grow rapidly. 

By Distribution channels, the main categories are - 

1. Hospital pharmacies
2. Retail pharmacies
3. Online Channel 

Even though all the distribution channels show positive growth over the years, hospital pharmacies hold the biggest market share globally. Whereas Retail pharmacies come on the second rank and have a lucrative growth rate. Lastly, the online channel shows a significant growth in demand during and after the COVID-19 pandemic. 

Global Respiratory Inhalers Market

As per the report of fortune business insights, the global market size of smart inhalers is approximately USD 28.62 million in the year 2019 and is estimated to reach of value approx. USD 1,113.57 million by the end of 2030. In this tenure of 9-10 years, the global market of smart inhalers is showing a CAGR of 25.1%.  Globally, there are five major segments - 

• North America - Here the market value of inhalers is USD 20.04 million.  America and Canada are significant players in the inhaler market in North America. 
• South America - Brazil is the major player in the South America segment of the inhalers market. 
• Middle East Africa - South Africa is a significant player in middle east Africa and other developing countries are also showing great demand for inhalers. 
• Europe - There is a huge demand for respiratory devices in Europe and Russia. There are many countries like Germany, the U.K, and France with advanced healthcare structures that have an increasing demand for these devices. 
• Asia Pacific - India and the Pacific are the leading players in the global market for inhalers. There are significant reasons contributing to the rise in demand such as the huge population, growing economy, air pollution, etc. 

There are some major factors contributing to the rising demand for inhalers globally-

1. First of all, Increasing disposable income makes people buy much better quality medical devices for themselves or for family members.
2. Secondly, The rising healthcare expenditure by the developing countries creates a new business market for respiratory products. 
3. Also, Rising air pollution, especially in developing nations, leads to an increase in patients with asthma and COPD.
4. Moreover, The combination of digital technology in these respiratory devices fuels the demand in the market.
5. Lastly, Increasing Awareness regarding respiratory illnesses such as asthma, COPD, etc. 

What are the factors slowing the growth of respiratory inhalers globally?

With advancing technology, new treatments have been introduced across the globe. With this rising therapeutic treatment for respiratory illnesses of alternative therapies, the demand for inhalers can be hampered. There are oral medications available now and even govt. Introduce subcutaneous injections in the nearby hospitals for free. These can slow down the growth of inhalers worldwide. 

Conclusion

Lastly, There is no doubt that India stands strongly in the global inhaler market. India offers the best business opportunity for starting in respiratory devices. Hope you get all the information about the “Global Inhaler Market Stats”. Feel free to reach out to Nutra Respiro for any further information and for the best respiratory pharma products business opportunity. 

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