Respiratory Inhalers Market Are Estimated To Witness High Growth Owing To Rise In Respiratory Disorders

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Respiratory inhalers are drug delivery devices used for administration of medicines through the lungs to treat respiratory disorders. These devices include metered-dose inhalers, dry powder inhalers, and nebulizers. Metered-dose inhalers are small, hand-held devices that provide a measured dose of aerosolized medicine for inhalation. Dry powder inhalers contain doses of medication in dry powder form that are inhaled through the lungs. Nebulizers are small machines that deliver aerosolized medicine to the respiratory tract through a mouthpiece or mask. They are commonly used for treating conditions like asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis. Respiratory inhalers are the most effective way to directly deliver medicines to lungs and relieve symptoms of respiratory diseases. 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 Opportunity:

Respiratory disorders present a major health burden and their incidence is on the rise globally. According to the Global Burden of Disease Study 2019, chronic respiratory diseases accounted for over 4.5 million deaths in 2019. Conditions like asthma and COPD affect millions of people worldwide and lead to recurring respiratory symptoms that require long-term medication management. This rising prevalence of respiratory disorders translates into a growing patient pool requiring treatment with devices like inhalers on a regular basis. The continued demand for maintenance therapies amongst patients suffering from chronic respiratory diseases is expected to drive the market growth of respiratory inhalers over the forecast period. Manufacturers have an opportunity to increase awareness about inhalers as the preferred administration method for respiratory therapies and expand access to such devices in developing regions with a large underdiagnosed population.

Porter’s Analysis

Threat of new entrants: The respiratory inhalers market has moderate threat from new entrants due to high R&D and manufacturing costs required to produce quality products. Established players dominate distribution channels which increases barriers.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of generic substitutes and presence of many established brands. However, brand loyalty keeps bargaining power in check.

Bargaining power of suppliers: Suppliers of raw materials have low to moderate bargaining power as key inputs are commoditized and suppliers are numerous. However, suppliers of specialized components derive some power.

Threat of new substitutes: Threat of new substitutes is low as respiratory inhalers are essential medicine with no cost-effective substitutes for treating asthma and COPD. However, other delivery forms pose threat.

Competitive rivalry: The market experiences high competitive rivalry due to strong presence of global key players and differentiated products. Intense rivalry on pricing and new product launches exists.

SWOT Analysis
Strengths: Wide choice of products available. Established brands with high loyalty. Rising disease incidence rate.

Weaknesses: High manufacturing costs. Stringent regulatory norms. Supply chain disruptions impact availability.

Opportunities: Untapped growth potential in developing regions. Scope for generic extensions and fixed-dose combinations.

Threats: Threat from alternative delivery forms. Patent cliffs on blockbusters. Economic slowdowns impact spend.

Key Takeaways
The global Respiratory Inhalers Market Share is expected to witness high growth over the forecast period supported by rising asthma, COPD prevalence worldwide. North America region currently dominates the market due to high health awareness and healthcare expenditures in the region. 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. Key players are focusing on expanding their product portfolio through investments in R&D and partnerships. The future of the market is expected to be shaped by the development of respiratory inhalers devices featuring increased efficiency, portability and connectivity.

For more insights, read- https://cmiinfonest.blogspot.com/2023/12/the-global-respiratory-inhalers-market.html

 



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