Asia Pacific Respiratory Inhalers Market
Published On: Apr 2023
Published On: Apr 2023
At 6.4% CAGR, the Asia Pacific Respiratory Inhalers Market is projected to be worth US$ 9,297.48 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the Asia Pacific respiratory inhalers market was valued at US$ 6,397.09 million in 2022 and is expected to reach US$ 9,297.48 million by 2028, registering a CAGR of 6.4% from 2022 to 2028. Increasing adoption of smart inhalers technology and increasing product development activities are the critical factors attributed to the Asia Pacific respiratory inhalers market expansion.
Smart inhalers aim to help people suffering from asthma ensure they take their medication as prescribed by recording the timing and dosage on their smartphones. The data collected can be used by a clinician to verify that the prescribed treatment is working, personalize asthma reviews to focus on the root causes of worsening symptoms, and provide early warning systems that inform when to visit a clinic. This technology could shift from one-size-fits-all asthma screening and lead to fewer routine appointments, which could ease pressure on the National Health Service (NHS). Smart inhalers benefit adults and the geriatric population, as they struggle to take the same puffs due to uneven breathing as the muscles that support breathing and the diaphragm weaken with age, preventing air from inhaling or exhaling. Smart inhalers that are equipped with sensors can be connected to conventional inhalers and help to keep track of when the medication is taken. Being Bluetooth-enabled, they can also be remotely paired with a computer or smart device, such as a phone or tablet, to transfer data from the smart inhaler automatically. Therefore, the above-mentioned applications of smart inhalers and their growing adoption are expected to provide growth opportunities to the Asia Pacific respiratory inhalers market in the coming years.
On the contrary, lack of early diagnosis and high cost of inhalers hurdles the growth of Asia Pacific respiratory inhalers market.
Based on product type, the Asia Pacific respiratory inhalers market is segmented into nebulizers, metered dose inhalers (MDI), and dry powder inhalers. The dry powder inhalers segment held 44.6% market share in 2022, amassing US$ 2,851.14 million. It is projected to garner US$ 4,079.05 million by 2028 to expand at 6.2% CAGR during 2022–2028.
Based on technology, the Asia Pacific respiratory inhalers market is bifurcated into manually operated inhalers and digitally operated inhalers. The manually operated inhalers segment held 73.3% market share in 2022, amassing US$ 4,690.09 million. It is projected to garner US$ 6,924.65 million by 2028 to expand at 6.7% CAGR during 2022–2028.
Based on disease indication, the Asia Pacific respiratory inhalers market is segmented into asthma, COPD, pulmonary arterial hypertension, and others. The asthma segment held 38.6% market share in 2022, amassing US$ 2,469.95 million. It is projected to garner US$ 3,705.83 million by 2028 to expand at 7.0% CAGR during 2022–2028.
Based on country, the Asia Pacific respiratory inhalers market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 28.8% market share in 2022. It was assessed at US$ 1,839.80 million in 2022 and is likely to hit US$ 2,754.84 million by 2028, exhibiting a CAGR of 7.0% during the forecast period.
Key players dominating the Asia Pacific respiratory inhalers market are AstraZeneca Plc; Beximco Pharmaceuticals Ltd.; Boehringer Ingelheim International GmbH; Cipla Ltd; GSK Plc; Koninklijke Philips NV; OMRON Corp; OPKO Health, Inc; PARI Respiratory Equipment, Inc.; and Teva Pharmaceutical Industries Ltd among others.
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