Rising Cases of Respiratory Diseases Driving Demand for Dry Powder Inhalers: Fact.MR Report
Published : 09 Dec 2021 Industry: Consumer Goods
According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global dry powder inhaler market is valued at around US$ 857 Mn, and is projected to expand at a CAGR of around 7.2% through the end of 2031.
Dry powder inhalers are used to treat respiratory diseases such as asthma, bronchitis, emphysema, etc., helping deliver medication to the lungs in the powdered form. Conventional devices such as metered-dose inhalers are being replaced with DPIs, being a finer alternative. On a global scale, escalating gasping diseases such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, asthma, etc., is a major driver for the global dry powder inhaler market.
High-level air pollution and unhealthy air quality is a global issue. Breathing in polluted air can cause never-ending health problems and respiratory concerns. Inhaling polluted air can lead to severe problems such as asthma, bronchitis, pneumonia, and even chronic lung diseases. Some of the major sources of this issue are contaminated fuel, emission of vehicle smoke and traffic congestion, and burning of fuel-wood and biomass. Due to this, demand for dry powder inhalers is expected to rise over the forecast period (2021-2031).
However, high cost associated with inhaler devices is a key restraint for market growth. Alongside, stringent government regulations and policies in relation with the approval of such devices is another factor anticipated to restrict sales growth.
Key Takeaways from Market Study
- Rising pollution and respiratory diseases is a key factor driving demand for dry powder inhalers at 7.2% CAGR.
- Among the product types, capsule-based inhalers will be the fastest-growing segment owing to simplicity and efficiency of their use.
- North America is set to dominate market revenue, followed by key countries in Europe such as the U.K. and Germany.
“The coronavirus pandemic has given way to several breathing concerns and respiratory issues, along with widespread pollution in certain countries such as India, which is expected to result in increased demand for dry powder inhalers to tackle with respiratory diseases,” says a lead analyst at Fact.MR.
Who is Winning?
At this point, there is a rise in different respiratory problems attributed to the widespread of coronavirus. Thus, dry powder inhaler manufacturers have increased their operations in order to meet the requirements of their customers.
Some of the leading companies offering dry powder inhalers are AstraZeneca, GlaxoSmithKline Plc, Vectura Group Plc, Boehringer Ingelheim GmbH, Otsuka Pharmaceutical Co. Ltd., Norton Healthcare, Respira Therapeutics, Inc, Cheisi, and Cipla.
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the demand for dry powder inhaler market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.
The study divulges compelling insights on the demand for dry powder inhalers based on product type (capsule-based devices, blister-based devices, reservoir/cartridge-based devices, and others), application (bronchitis, chronic obstructive pulmonary diseases (COPD), asthma, and others), and sales channel (offline and online), across seven major regions of the world (North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the consumer goods team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the consumer goods industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Shambhu Nath Jha
Sr. Consultant – Consumer Products