Respiratory Inhalers Market Size and Competitive Analysis by 2028

The respiratory inhalers market is expected to grow from US$ 31,144.56 million in 2022 to US$ 43,446.19 million by 2028; it is estimated to record a CAGR of 5.7% from 2022 to 2028.

Respiratory inhalers are used to inhale drugs that are an essential part of treating chronic lung diseases. They are used both to prevent and treat exacerbations of these chronic diseases. They offer the advantage of avoiding systemic drug exposure while ensuring the drugs reach the lungs directly. Numerous products deliver drugs directly into the airways, such as dry powder inhalers, metered dose inhalers (MDIs), nebulizers, and soft mist inhalers. The respiratory inhalers market is expected to grow due to the rising prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, asthma-COPD overlap syndrome, and others.

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Respiratory Inhalers Market: Strategic Insights

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Respiratory Inhalers Market Insights

Growing Adoption of Generic Inhalers Drives Growth of Respiratory Inhalers Market

Inhaled medicines involving a wide range of inhalation devices are the mainstay of pharmacological treatment of asthma and COPD. Patients suffering from asthma and COPD often need one or more inhalers daily to keep their airways healthy. Therefore, healthcare professionals are concerned about switching between medications as it can negatively impact disease control through low adherence and misuse of aerosol delivery device types. With increasing pressure on healthcare budgets and the simultaneous expiration of patents on established inhalation treatments, several generic replacement products are being manufactured and supplied across the globe. Several inhalants that are used to treat asthma include generic formulations, such as albuterol, levalbuterol, ipratropium, budesonide, and fluticasone/salmeterol. The generic inhalers are bioequivalent to the branded versions and have the same effect on the body. The number of generic asthma inhalers continues to increase as patents expire. On March 3, 2020, the Food and Drug Administration (FDA) cleared generic asthma inhalers and generic inhaled corticosteroid powder. In April 2020, the FDA approved a generic inhaler, based on albuterol sulfate, to cater to the needs of COVID-19 patients having breathing difficulties. As more generic drugs are entering the market, increased competition is expected, which, in turn, leads to reduced costs of drugs. Cost reductions can also result from the launch of an “approved generic drug.” Thus, the growing adoption of generic inhalers and asthma medications is improving medication adherence, thereby driving the respiratory inhalers market.

Product Type-Based Insights

Based on product type, the respiratory inhalers market is segmented into nebulizers, metered dose inhalers, and dry powder inhalers. The dry powder inhalers segment is further bifurcated into multi-dose dry powder inhalers and single-dose dry powder inhalers. The metered dose inhalers (MDI) segment is further divided into pressured metered dose inhalers and connected metered dose inhalers. The nebulizers segment is sub segmented into compressed air nebulizers, mesh air nebulizers, and ultrasonic air nebulizers. In 2022, the dry powder inhalers segment accounted for the largest market share. However, the metered dose inhalers (MDI) segment is anticipated to register the highest CAGR during the forecast period.

Technology-Based Insights

Based on technology, the respiratory inhalers market is bifurcated into manually operated inhalers and digitally operated inhalers. The manually operated inhalers segment held a larger market share in 2022 and is expected to register a higher CAGR during the forecast period.

Respiratory Inhalers Market Regional Insights

The regional trends and factors influencing the Respiratory Inhalers Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Respiratory Inhalers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Respiratory Inhalers Market Report Scope

Respiratory Inhalers Market Players Density: Understanding Its Impact on Business Dynamics

The Respiratory Inhalers Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Disease Indication-Based Insights

Based on disease indication, the global respiratory inhalers market is segmented into asthma, COPD, pulmonary arterial hypertension, and others. The asthma segment held the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period.   

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the respiratory inhalers market. A few recent key market developments are listed below:

• In September 2022, Beximco Pharmaceuticals launched ONRIVA TRIO BEXICAP, which is a dry inhaler capsule. ONRIVA TRIO BEXICAP is the preparation of Indacaterol (150 µg), Glycopyrronium (50 µg), and Mometasone (160 µg). It works in 3 ways to control asthma symptoms. Indacaterol and Glycopyrronium help the muscles of lung airways to stay relaxed to prevent bronchoconstriction, while Mometasone helps to decrease inflammation. ONRIVA TRIO BEXICAP is indicated as maintenance therapy in severe persistent asthma.
• In June 2021, Cipla announced that it had received final approval for its Abbreviated New Drug Application (ANDA) for Arformoterol Tartrate Inhalation Solution 15 mcg/2 mL from the US Food and Drug Administration. Cipla's Arformoterol Tartrate Inhalation Solution 15 mcg/2 mL is an AN-rated generic therapeutic equivalent version of Sunovion Pharmaceuticals Inc.'s Brovana.
• In February 2022, AstraZeneca and Honeywell announced their plans to partner for the development of next-generation respiratory inhalers using the propellant HFO-1234ze, which has up to 99.9% less Global Warming Potential (GWP) than propellants currently used in respiratory medicines.
• In January 2023, FDA approved Airsupra [pressurized metered-dose inhaler (pMDI)] in the US for the as-needed treatment or prevention of bronchoconstriction. Airsupra is a first-in-class, pressurized metered-dose inhaler (pMDI), fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS) in the US.  

Company Profiles   

• AstraZeneca Plc
• Beximco Pharmaceuticals Ltd.
• Boehringer Ingelheim International GmbH
• Cipla Ltd.
• GSK Plc
• Koninklijke Philips NV
• OMRON Corp
• PARI Respiratory Equipment, Inc.
• Teva Pharmaceutical Industries Ltd.
• OPKO Health, Inc.