Metered Dose Inhalers Market
Number of pages: 100 | Report Format: PDF | Published date: May 01, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 16.77 billion |
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Revenue Forecast in 2031 |
US$ 21.84 billion |
|
CAGR |
2.98% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Disease, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global metered dose inhalers market was valued at US$ 16.77 billion in 2022 and is expected to register a revenue CAGR of 2.98 % to reach US$ 21.84 billion by 2031.
Metered Dose Inhalers Market Fundamentals
Metered Dose Inhalers are medical devices that administer medicine directly into the lungs to treat respiratory illnesses, including asthma, chronic obstructive pulmonary disease (COPD), and other lung ailments. A pressurized canister is used in these devices to administer a precise amount of medicine in the form of a mist or aerosol spray. Medication is administered via a mouthpiece or a mask linked to the canister. When the canister is squeezed, a calculated amount of medicine is released into the inhaler. The drug is subsequently inhaled into the user's lungs via the mouthpiece or mask. MDIs are popular because they are simple to administer, portable, and give immediate relief from respiratory problems.
Metered dosage inhalers are medicine delivery devices for treating respiratory disorders such as asthma and chronic obstructive pulmonary disease (COPD). The global market for metered dosage inhalers is predicted to increase further in the coming years, owing to several trends and possibilities. The incidence of respiratory disorders such as asthma and COPD is predicted to climb as the world population rises and ages. This is increasing demand for MDIs as a critical therapy option. Several recent improvements in MDI technology have included the creation of breath-actuated MDIs, which automatically release medication when the patient inhales, enhancing dosage accuracy and minimizing the need for coordination between inhalation and actuation.
The metered dose inhalers market is extremely competitive, with numerous market participants attempting to raise income through various techniques. Market players are constantly creating new products to meet the demands of the rising asthma and COPD patient population. They invest extensively in R&D to develop novel MDI formulations and delivery technologies.
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Metered Dose Inhalers Market Dynamics
The increasing prevalence of respiratory diseases such as COPD and asthma is the key factor in increasing the revenue share of the global metered dose inhalers market. According to 2022 estimates World Health Organization (WHO), Chronic obstructive pulmonary disease (COPD) is the world's third greatest cause of mortality, accounting for 3.23 million fatalities in 2019. Low- and middle-income countries (LMIC) account for about 90% of COPD fatalities among those under the age of 70. These figures are likely to increase due to factors such as aging populations, rising air pollution, and changing lifestyles. Moreover, metered dose inhalers are one of the key therapeutic choices for asthma and COPD patients, and as the frequency of these diseases rises, so will the demand for metered dose inhalers. Furthermore, technical developments in MDI formulations and delivery technologies have enhanced efficacy and patient compliance, further boosting demand.
Metered dose inhalers have seen significant technical developments that have increased their performance and patient compliance. Medical device manufacturers increasingly focus on connecting technologies to increase patient medication adherence and assure proper dose delivery. Growing demand for technology-enabled features such as easy data transmission and patient tracking are critical variables likely to boost respiratory device adoption rates throughout the forecast period.
Moreover, with rising healthcare expenditure globally, there is greater access to medical care, including the use of metered dose inhalers, for patients with respiratory diseases. This has increased demand for metered dose inhalers, resulting in a growing market for inhalation drug delivery devices. As a result, pharmaceutical companies are investing more in the research and development of new and improved MDIs. The focus is on developing devices that are more efficient, easier to use, and have a lower environmental impact. This trend is expected to continue in the coming years as the demand for inhalation drug delivery devices rises.
One of the restraining factors for the metered dose inhaler market is the availability of alternative drug delivery systems such as dry powder inhalers and nebulizers. Another factor is the high cost associated with developing and manufacturing metered dose inhalers.
Metered Dose Inhalers Market Ecosystem
The global metered dose inhaler market is analyzed from the following perspectives: product, disease, distribution channel, and region.
Metered Dose Inhalers Market by Product
Based on the product, the global metered dose inhalers market is segmented into breath actuated pMDIs, and manual actuated pMDIs.
The breath actuated pMDIs segment has dominated the global metered dose inhalers market with a high revenue share in 2022. Breath actuated pMDIs offer several advantages over traditional pMDIs, including improved medication delivery and reduced risk of side effects. They also eliminate the need for coordinating inhalation with device actuation, making them easier for patients with poor coordination or limited dexterity.
Furthermore, the manual actuated pMDIs segment is expected to show significant growth during the forecast period due to the rising demand for cost-effective and portable inhalers, especially in developing countries. Additionally, the increasing prevalence of respiratory diseases such as asthma and COPD is also expected to drive the growth of this segment.
Metered Dose Inhalers Market by Disease
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Based on the diseases, the global metered dose inhaler market is segmented into asthma, COPD, and others.
In 2022, the asthma segment accounted for the majority of the global metered dose inhalers market share. Metered dose inhalers offer several advantages in treating asthma, including delivering medication directly to the lungs, reducing the risk of side effects associated with oral medications, and allowing for quick relief of symptoms. Additionally, they are portable and easy to use, making them a convenient option for individuals with asthma.
The COPD segment is expected to grow in the forecast period due to the increasing prevalence of COPD at an alarming rate. Metered dose inhalers (MDIs) in treating COPD can deliver a consistent and accurate dose of medication directly to the lungs, reducing the risk of side effects and increasing the effectiveness of treatment. Additionally, MDIs are portable and easy to use, making them a convenient option for patients with COPD who may have difficulty using other inhalers.
Metered Dose Inhalers Market by Distribution Channel
Based on the distribution channel, the global metered dose inhalers market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
Hospital pharmacies accounted for the majority of the market revenue share in 2022. Hospital pharmacies accounted for the majority of revenue share in the metered dose inhalers market due to the high demand for these devices in hospitals and other healthcare facilities. They commonly treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Additionally, hospital pharmacies often purchase these devices in bulk, further driving revenue for manufacturers and suppliers.
The retail pharmacies segment is expected to show high growth in the forecast years. This can be attributed to the widespread availability of retail pharmacies and the increasing prevalence of respiratory diseases, leading to higher demand for metered dose inhalers among patients. Additionally, retail pharmacies offer easy accessibility and convenience to patients for purchasing these inhalers, further driving their revenue share in the market.
Moreover, online pharmacies offer cost-effectiveness and availability of a wide range of products. Additionally, the COVID-19 pandemic has further accelerated the growth of online pharmacies as people prefer to avoid physical visits.
Metered Dose Inhalers Market by Region
Based on the region, the global metered dose inhaler market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the majority of the market revenue share for the metered dose inhalers market in 2022. The metered dose inhalers market in North America is expected to grow significantly due to the increasing prevalence of respiratory diseases and the rising adoption of advanced inhalation devices. Moreover, the presence of key market players and favorable government initiatives are also contributing to the market growth in this region.
The European metered dose inhalers market is characterized by a high level of competition among key players such as GlaxoSmithKline, AstraZeneca, and Boehringer Ingelheim. The market is also driven by the increasing prevalence of respiratory diseases in Europe and the growing demand for effective inhalation devices.
The Asia Pacific metered dose inhalers market is expected to show high growth in the forecast years. This growth can be attributed to the increasing prevalence of respiratory diseases and the rising adoption of metered dose inhalers as a preferred mode of drug delivery. Additionally, healthcare expenditures in Asia Pacific are significantly increasing, this is expected to boost the metered dose inhalers market revenue share.
Metered Dose Inhalers Market Competitive Landscape
The competitive landscape of metered dose inhalers is constantly evolving with the introduction of new technologies and innovations. Companies are focusing on developing advanced inhalers that offer patients better efficacy, safety, and convenience. In addition, the increasing prevalence of respiratory diseases and the growing demand for personalized medicine are also driving the growth of the metered dose inhalers market. This is expected to create lucrative opportunities for players in the market in the coming years.
Some of the prominent companies having the largest revenue share in the global metered dose inhalers market are,
The metered dose inhalers market is expected to grow significantly due to the increasing prevalence of respiratory diseases and the rising demand for effective drug delivery systems. Additionally, technological advancements in inhaler devices and the growing geriatric population are also expected to contribute to market growth.
According to the deep-dive market assessment study by Growth Plus Reports, the global metered dose inhalers market was valued at US$ 16.77 billion in 2022.
Some of the major strategies key market players adopt in the metered dose inhalers market include mergers and acquisitions, collaborations, partnerships, and product launches. These strategies help companies to expand their market presence and strengthen their position in the competitive landscape.
Based on the diseases, the global metered dose inhaler market is segmented into asthma, COPD, and others. In 2022, the asthma segment accounted for the majority of the global metered dose inhalers market share.
The global metered dose inhalers market was valued at US$ 16.77 billion in 2022 and is expected to register a revenue CAGR of 2.98 % to reach US$ 21.84 billion by 2031.
*Insights on financial performance are subject to the availability of information in the public domain