May 22, 2024

Steam Inhaler Devices Market Insights: Understanding Current Trends and Future Potential

Steam Inhaler Devices Market

Steam inhaler devices are used for quick relief from respiratory congestion or cough by inhaling warm, moist air into the lungs. These devices provide temporary relief and help soothe inflamed airways. The steam softens thickened mucus so it can be cleared more easily through coughing. Some key advantages of using steam inhalers include easy usage without any medication, relief in congestion within 5-10 minutes, and portability. With rising cases of respiratory diseases like asthma and COPD globally, steam inhalers have emerged as an effective treatment option for symptomatic relief.

The global Steam Inhaler Devices Market is estimated to be valued at US$ 6,721.4 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends in the steam inhaler devices market is the increasing preference for portable and compact devices. Handheld steam inhalers are highly portable and convenient to carry while traveling. They are lightweight, compact in size, and allow users to Self-administer steam therapy anywhere without any setup. Various companies are launching portable steam inhalers with additional features like adjustable steam flow, auto shut-off for safety, and longer runtime. For instance, Vicks introduced the Vicks Personal Steam Inhaler, a palm-sized steam therapy device. Another key trend is the rising popularity of aromatherapy steam inhalers. These devices allow users to inhale steam infused with essential oils that provide extra therapeutic benefits. Common essential oils used include eucalyptus, menthol, peppermint etc. which aid in loosening congestion and reducing symptoms of cough and cold.

Porter’s Analysis

Threat of new entrants: The steam inhaler devices market has moderate threat of new entrants due to the presence of few established brands and stringent regulations regarding new product approval and quality standards for therapeutic devices.

Bargaining power of buyers: The bargaining power of buyers is moderate due to availability of several substitutes and also due to the non-life threatening nature of the conditions treated with steam inhalers.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials and parts. Established suppliers also have patent and technology advantages.

Threat of new substitutes: The threat of new substitutes is moderate as alternative therapies like steam therapy, heated humidifiers, etc. provide similar benefits. However, steam inhalers offer convenience of use.

Competitive rivalry: The competitive rivalry is high among key established players due to technological innovations, expansions to emerging markets and pricing strategies.

Key Takeaways
The global Steam Inhaler Devices market is expected to witness high growth over the forecast period of 2023 to 2030. North America is expected to dominate the market during the forecast period due to growing adoption of steam therapies and increasing allergy cases in the region.

Regional analysis: North America is estimated to hold the largest share of the global steam inhaler devices market in 2024, with the US accounting for the major share. This is attributed to the increasing prevalence of respiratory disorders like asthma and COPD. China and Japan are also projected to offer lucrative opportunities with rising health awareness.

Key players: Key players operating in the steam inhaler devices market are Vicks, Light Shield Health Products International Limited, Omron Corporation, and Thermo Fisher Scientific Inc.

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