The Global Metered Dose Inhalers Industry is on the brink of a substantial upswing, as revealed by the latest insights from Future Market Insights (FMI). The industry, which demonstrated impressive strength in 2022, reaching a valuation of US$ 25,208.9 million, is set to continue its momentum with a projected climb to US$ 26,322.9 million in 2023, according to FMI’s forecasts.
This promising trajectory is underpinned by a robust compound annual growth rate (CAGR) of 4.5% from 2023 to 2033, ultimately catapulting the industry to an estimated total value of approximately US$ 40,895.5 million by 2033.
One of the driving forces behind this surge is the inherent advantages of Metered Dose Inhalers (MDIs). MDIs, with their multidose delivery capacity, simplicity of use, and lower risk of contamination, emerge as the preferred choice for both patients and healthcare providers. This positions MDIs at the forefront of the industry’s anticipated growth.
A noteworthy trend shaping the landscape is the rise of digital dose inhalers, as highlighted by FMI in its industry analysis. The prevalence of digital dose inhalers is expected to persist throughout the forecast period. These inhalers, known for their precision in delivering medication to the lungs in the form of dry powder or aerosolized medicine, are emerging as a driving force behind the industry’s upward trajectory.
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At the same time, the fact that there is a sizable lack of awareness amongst the population regarding advanced treatment and devices available for asthma. This, in turn, is somewhat discouraging for the market participants to extend their research toward the under-developed economies. Additionally, the manufacturing cost for metered doses is quite high. They could also end up having side effects. These factors are likely to restrain the Global Metered Dose Inhalers Industry in the years to come. Future Market Insights has etched these findings with future perspectives in its latest market study entitled ‘Global Metered Dose Inhalers Industry’. It has its line of expertise in the form of analysts and consultants to execute.
“With realization of the fact that Metered Dose Inhalers are subject to simple application, the Global Metered Dose Inhalers Industry is bound to go great guns going forward, says an analyst from Future Market Insights.
Key Takeaways from the Global Metered Dose Inhalers Industry
- North America holds the largest market (over 40%) share due to extensive research being conducted on the count of respiratory disorders and treatments of the same.
- Europe stands second with more than 25% of the market share due to the reasons mentioned above.
- The Asia-Pacific is expected to grow at the fastest rate in the Metered Dose Inhalers market going forward due to conducive initiatives undertaken by the governments herein.
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Competitive Analysis
- Propeller Health, in 2019, did launch ‘Diskus’. It’s used for controlling and preventing symptoms like shortness of breath and wheezing resulting out of asthma and COPD, which include emphysema and chronic bronchitis.
- Novartis has its ‘Symbicort’. The inhaler is actually used for controlling and preventing symptoms of asthma in children aged 6 and below and also adults. It’s used for addressing emphysema and chronic bronchitis.
- Glenmark Pharmaceuticals Ltd. holds the distinction of launching India’s very first digital dose inhaler called ‘Digihaler’ for those affected by pulmonary diseases and asthma.
- Teva Pharmaceutical Industries Ltd., in 2019, did announce that its inhalation powder ‘ProAir Digihaler’ was approved by the US FDA. It’s the sole digital inhaler containing built-in sensors that gets connected to companion mobile application and informs people with COPD and asthma. Digihaler could effectively treat/prevent bronchospasm and also EIB (exercise-induced bronchospasm) in those aged 4 and above.
- Honeywell, in February 2022, entered into partnership with Astrazeneca for developing next-generation respiratory inhalers by making use of propellant HFO-1234ze. It has got99.9% less potential of global warming as compared to the propellants used at the moment.
- Aptar Pharma, in February 2022, tabled HeroTracker Sense. It’s a new digital respiratory health solution transforming a proper metered dose inhaler into smart connected healthcare device.
- NuvoAir, in December 2021, came up with an add-on sensor for COPD and asthma inhalers as an integrated part of chronic care ecosystem.
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Key Players in the Global Metered Dose Inhalers Industry
Cipla Inc., Presspart Manufacturing Ltd., Midascare Pharmaceuticals Pvt. Ltd., Beximco Pharma Ltd., GlaxoSmithKline Pharmaceuticals Ltd., 3M Pharmaceuticals Pty Ltd., Biocare Manufacturing Sdn Bhd, Anomatic Innovation & Design Center & Manufacturing, Aristo Pharma Ltd, Intech Biopharm Corporation, Swiss Pharmaceuticals Pvt. Ltd and others.
Key Segments
By Type:
- Preventive Inhale
- Reliever Inhaler
- Long-Acting Bronchodilators Inhaler
- By Application
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
By End-User:
- Homecare
- Hospitals
- Clinics
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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