Report : South America Respiratory Inhalers Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type [Nebulizers, Metered Dose Inhalers (MDI), and Dry Powder Inhalers], Technology (Manually Operated Inhalers and Digitally Operated Inhalers), and Disease Indication (Asthma, COPD, Pulmonary Arterial Hypertension, and Others)
At 4.6% CAGR, the South America Respiratory Inhalers Market is speculated to be worth US$ 3,636.45 million by 2028, says The Business Market Insights
According to the Business Market Insights’ research, the South America respiratory inhalers market was valued at US$ 2,784.32 million in 2022 and is expected to reach US$ 3,636.45 million by 2028, registering a CAGR of 4.6% from 2022 to 2028. Increasing adoption of smart inhalers technology and increasing product development activities are the critical factors attributed to the South America respiratory inhalers market expansion.
With new medical knowledge and effective medicines, treatment with a wide range of asthma inhalers continues to advance. Rising use of ventilator combination therapies and increasing investments by major players in developing sophisticated ventilator inhalers are boosting the South America respiratory inhalers market. In addition to the numerous advantages of the device such as portability, convenience, and effectiveness, the growing number of product approvals and developments is expected to strengthen the South America respiratory inhalers market in the coming years. A few of the major developments and approvals have taken place in recent years. For instance, in November 2022, AstraZeneca partnered with Avillion to develop PT027, an asthma rescue inhaler. PT027 is a pressurized metered-dose inhaler that delivers a fixed dose of two combined asthma medications: albuterol—a short-acting beta2-agonist and budesonide, an anti-inflammatory inhaled corticosteroid. Similarly, in December 2020, OMRON launched WheezeScan, the world’s first wheeze detection device to help children with asthma, which is a crucial breakthrough in the field of pediatric asthma management. WheezeScan helps parents of young children detect wheezing—a clear indicator of an upcoming asthma attack-—and act accordingly. Thus, such increasing advancements by various market players and product approvals are likely to catalyze the growth of the South America respiratory inhalers market during the forecast period.
On the contrary, lack of early diagnosis and high cost of inhalers hurdles the growth of South America respiratory inhalers market.
Based on product type, the South America respiratory inhalers market is segmented into nebulizers, metered dose inhalers (MDI), and dry powder inhalers. The dry powder inhalers segment held 42.6% market share in 2022, amassing US$ 1,186.52 million. It is projected to garner US$ 1,523.40 million by 2028 to expand at 4.3% CAGR during 2022–2028.
Based on technology, the South America respiratory inhalers market is bifurcated into manually operated inhalers and digitally operated inhalers. The manually operated inhalers segment held 70.7% market share in 2022, amassing US$ 1,968.84 million. It is projected to garner US$ 2,614.17 million by 2028 to expand at 4.8% CAGR during 2022–2028.
Based on disease indication, the South America respiratory inhalers market is segmented into asthma, COPD, pulmonary arterial hypertension, and others. The asthma segment held 34.1% market share in 2022, amassing US$ 948.75 million. It is projected to garner US$ 1,285.16 million by 2028 to expand at 5.2% CAGR during 2022–2028.
Based on country, the South America respiratory inhalers market has been categorized into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 61.4% market share in 2022. It was assessed at US$ 1,709.67 million in 2022 and is likely to hit US$ 2,244.29 million by 2028, exhibiting a CAGR of 4.6% during the forecast period.
Key players dominating the South America 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.
- In Feb 2022, AstraZeneca partnership with Honeywell to develop next-generation respiratory inhalers. AstraZeneca and Honeywell will partner to develop next-generation respiratory inhalers using the propellant HFO-1234ze, which has up to 99.9% less Global Warming Potential (GWP) than propellants currently used in respiratory medicines.
- In Feb 2022, Beximco Pharmaceuticals Launched Fixonase Nasal Spray. Fixonase Nasal Spray is the preparation of Fluticasone Furoate (27.5 g) indicated to treat symptoms of seasonal and perennial allergic rhinitis in patients above 2 years of age including stuffy, runny, or itchy nose, sneezing and watery, itchy, or red eyes.
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