Respiratory inhalers are medical devices used for delivering medications to the lungs for treatment of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). The global Respiratory Inhalers market is expected to grow significantly, driven primarily by rising incidences of respiratory diseases, such as asthma and COPD, due to factors such as increasing industrial pollution levels and growing smoking rates worldwide. Respiratory inhalers help in quick relief and improved medication delivery to the lungs for better management of symptoms associated with respiratory diseases. Inhalers are available in various forms such as metered dose inhalers, dry powder inhalers and nebulizers to effectively treat ailments like wheezing, breathlessness, and coughing.

The global Respiratory Inhalers Market is estimated to be valued at US$ 29.55 Bn in 2023 and is expected to exhibit a CAGR of 6.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends in the respiratory inhalers market is the shift towards digitally connected respiratory inhalers. Traditional inhalers are being developed into smart inhalers that can track medication use patterns and send reminders to patients. This helps in improving medication adherence and monitoring health outcomes. For instance, Adherium has developed smart versions of existing respiratory inhalers that can digitally track medication use and remind patients of scheduled doses via mobile apps. Connected inhalers generate real-world data that aids physicians in adjusting therapy based on individual patient needs. This emerging trend towards “Digital Therapeutics” is expected to positively impact the respiratory inhalers market over the forecast period.

Porter’s Analysis

Threat of new entrants: The respiratory inhalers market requires high R&D investments and regulatory approvals that pose barriers for new companies to enter the market.
Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for respiratory inhalers is price inelastic due to health conditions. However, buyers can choose substitutes.
Bargaining power of suppliers: A few major players dominate the supply of raw materials and components in the respiratory inhalers market, giving them moderate bargaining power over buyers.
Threat of new substitutes: Alternatives like nebulizers pose a low threat currently due to inhalers’ portability and effectiveness for mild to moderate cases. However, substitute threat may rise with technology.
Competitive rivalry: The market witnesses high competition due to the presence of global players. Companies compete based on product offerings, pricing, and marketing.

Key Takeaways

The global Respiratory Inhalers Market Share is expected to witness high growth over the forecast period supported by the rising incidences of respiratory disorders like asthma and COPD.

Regional analysis:

North America commands the largest share of the respiratory inhalers market owing to favorable reimbursement policies, healthcare infrastructure, and awareness levels in the region. Asia Pacific is expected to witness the fastest growth supported by improving access to healthcare facilities, increasing healthcare spending, and growing pollution in major countries like India and China.

Key players operating in the respiratory inhalers market are Unilever, Procter & Gamble, Reckitt Benckiser, Henkel AG & Co. KGaA, Church & Dwight Co. Inc., Wipro Enterprises Limited, Colgate-Palmolive Company, C.Johnson & Son Inc., Godrej Consumer Products, Kao Corporation, L’Oreal S.A., The Clorox Company, Seventh Generation, Inc., Natura &Co, Weleda Group, Patanjali Ayurved Limited, Hain Celestial, EO Products, Indus Valley, Prairie Rose.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it