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Respiratory Inhalers market is projected to grow at a CAGR of 8.02% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Respiratory Inhalers 2023-2033. It includes profiles of Respiratory Inhalers and Forecasts Market Segment by Product Type (Standard Pressurized Metered-Dose Inhalers, Pressurized Metered-dose Inhalers, Metered-Dose Inhaler with a Spacer, Dry Powder Inhalers, Soft Mist Inhalers, Others), Market Segment by Drug Class (ICS, SABA+ICS, SABA, LABA, LAMA, ULABA, SABA+SAMA, LABA+LAMA+ICS, SAMA, and Others), Market Segment by Mode Of Operation (Manually Operated Inhaler Devices, Digitally Operated Inhaler Devices, and Others), Market Segment by Indication (Asthma, Chronic Obstructive Pulmonary Disease, Pulmonary Arterial Hypertension, Others) plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The respiratory inhalers market is valued at US$42.93 billion in 2022 and is projected to grow at a CAGR of 8.02% during the forecast period 2023-2033.
Pharmaceutical Industry is Embracing Digital Technologies to Combat Asthma
The smart inhaler market is one of the primary digital platforms on which pharma and digital businesses interact for the management of respiratory illnesses. Government agencies have been worried in recent years about the increased death rates connected with respiratory disorders such as asthma and COPD. In recent years, the government and regulatory organisations have enacted new criteria that will have a substantial impact on the growth of the smart inhaler industry. Several new smart inhalers have recently been launched to the market, which has fuelled the market expansion. Pharmaceutical and digital companies pursued novel approaches to respiratory diseases, looking beyond current treatment options. These smart inhalers will provide powerful new alternatives to currently prescribed inhalers by combining new mechanisms of action with existing prescription inhalers.
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How has COVID-19 had a Positive Impact on the Respiratory Inhalers Market?
COVID-19 outbreak has accelerated the introduction of innovative and portable respiratory drug delivery systems, with an increase in trial activities being conducted remotely and at participants' homes, as well as patient purchases for home-care settings. Because of the COVID-19 outbreak, the supply of respiratory medicines and medication delivery technology in several nations was insufficient to meet the growing number of patients. Due to a lack of resources such as respiratory equipment, medical supplies, and staff, there was a high risk of patient fatality. As a result, patients were forced to remain at home and arrange their own resources, affecting the purchase of respiratory drugs and delivery devices such as nebulizers, inhalers, and other portable devices.
How will this Report Benefit you?
Visiongain’s 357-page report provides 126 tables and 184 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the respiratory inhalers market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Respiratory Inhalers. Get financial analysis of the overall market and different segments including type, invasive procedure type, non-invasive procedure type, gender, end-user, and capture higher market share. We believe that there are strong opportunities in this fast-growing respiratory inhalers market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Promising R&D Pipeline Projected to Boost Industry Growth
Globally, the respiratory inhalers market is driven by innovation and demand. A robust pipeline of methods and technologies is vital for the continued development of inhalers and drugs. Respiratory diseases are increasingly being identified and efforts are being made to serve these markets, which are currently untapped. For instance, the board of directors of Mabpharm Limited announced on October 20, 2021 that the National Medical Products Administration (NMPA) of the People's Republic of China ("NMPA") has approved the new drug application (NDA) for CMAB007 (omalizumab), the Company's core product.
Aging Population Prone to Respiratory Conditions is Creating Opportunities for Industry Players
Despite the fact that asthma is already a major problem in terms of morbidity and economic consequences, the global burden of asthma appears to be rapidly increasing as the world shifts westward. Low- and middle-income nations account for the vast majority of asthma-related deaths. According to a recent Global Burden of Disease (GBD) analysis, asthma is the 14th most common condition in terms of disability years worldwide. As a result, health ministers in low and middle-income countries should prioritize identifying health priorities, allocating resources, and weighing the potential costs and benefits of public health measures. Inhalers for respiratory conditions are in demand due to the aging population. As a result of better health care and a higher standard of living, people have been able to live longer. This has resulted in an aging population in most countries. The aging population is no longer a problem restricted to the most developed countries.
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Where are the Market Opportunities?
Expanding Medicare Coverage is Expected to Propel Market Growth
The Affordable Care Act, often known as the Obama Act, was passed in 2010. The act aimed to reduce healthcare insurance costs by lowering drug levies. Insurance companies spend 80% of their premium dollars on medical coverage. The act prohibits insurance companies from charging exorbitant premiums. This statute also provides insurance to persons who already have chronic health concerns. Previously, before this act, insurance companies had a yearly fixed budget that they used to spend on the medical conditions of their patients. However, since the enactment of this act, these insurance companies no longer have a fixed budget, and they now cover insurance for all those people who have severe comorbidities.
Competitive Landscape
The major players operating in the respiratory inhalers market are 3M Health Care; AptarGroup, Inc.; AstraZeneca; Boehringer Ingelheim International GmbH; Cipla Inc.; GF Health Products, Inc.; GSK plc.; Koninklijke Philips N.V.; Medisana GmbH; Merck & Co., Inc.; Novartis AG; OMRON Corporation; Recipharm AB; Sunovion Pharmaceuticals Inc.; and Teva Pharmaceutical Industries Ltd. These key players operating in the respiratory inhalers market have adopted different strategies comprising M&A, collaborations, regional expansion, investment in R&D, and new product launch. For instance, in November 2022, Beyfortus (nirsevimab), developed by AstraZeneca and Sanofi, has been licenced in the EU for the prevention of respiratory syncytial virus (RSV) lower respiratory tract illness in newborns and babies throughout their first RSV season. Beyfortus is the first and only single-dose RSV passive immunisation for the general newborn population, including those born healthy, at term or prematurely, or with special medical issues.
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About Visiongain
Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.
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Visiongain Reports Limited
Telephone: +44 (0) 20 7336 6100
Email: oliver.davison@visiongain.com
Web: www.visiongain.com
