The Dry Powder Inhaler Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dry Powder Inhaler Global Market Report 2024, The dry powder inhaler market size has grown strongly in recent years. It will grow from $20.18 billion in 2023 to $21.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to renewed interest in sustainable building materials, cultural preservation and heritage restoration, rise in green building practices, local sourcing and community involvement, regulatory support and building codes.
The dry powder inhaler market size is expected to see steady growth in the next few years. It will grow to $25.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to continued emphasis on sustainability, global urbanization trends, advancements in manufacturing processes, government incentives and policies, global economic factors. Major trends in the forecast period include increased research and development, renewed interest in traditional building techniques, advancements in material technology, architectural and design trends, regulatory support for sustainable construction.
The growing prevalence of respiratory diseases is expected to propel the growth of the dry powder inhaler market going forward. Respiratory diseases refer to respiratory disorders or lung diseases, encompassing a broad category of medical conditions affecting the respiratory system. Dry powder inhalers are essential in treating respiratory conditions such as asthma, COPD, and cystic fibrosis as they deliver medicine directly to the lungs, where it is most effective. It is a promising alternative to traditional drug delivery methods for respiratory diseases. For instance, in June 2023, according to reports published by the Australian Institute of Health and Welfare, an Australia-based national agency, there was a rise in respiratory disease-related deaths from 43,031 in 2020 to 46,551 in 2021 in Australia. Therefore, the growing prevalence of respiratory diseases will drive the growth of the dry powder inhaler market.
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The dry powder inhaler market covered in this report is segmented –
1) By Product: Single-Dose Inhalers, Multi-Dose Inhalers
2) By Function: Manually Operated Inhaler Devices, Digitally Operated Inhaler Devices
3) By Application: Asthma, Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis, Other Applications
4) By End User: Hospitals And Clinics, Homecare Settings, Ambulatory Surgical Centers, Other End Users
Major companies operating in the dry powder inhaler market are developing innovative products with muscarinic antagonist for treating chronic obstructive pulmonary disease (COPD) and expanding their product portfolio. A muscarinic antagonist is a drug that inhibits the muscarinic acetylcholine receptor. It controls and treats various illnesses, such as COPD and organophosphate poisoning. For instance, in June 2021, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company, launched Tiogiva, a long-acting muscarinic antagonist dry powder inhaler (DPI) that is used to treat chronic obstructive pulmonary disease (COPD) in the UK. It is the bioequivalent generic version of Boehringer-Ingelheim’s Spiriva Handihaler. It functions by calming the muscles in the airways, which facilitates breathing. It is taken once a day and is indicated for the long-term maintenance treatment of COPD in adults. Moreover, it is easy to use and does not require a spacer.
The dry powder inhaler market report table of contents includes:
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