The anticipated size of the metered dose inhalers market in 2022 was USD 25,208.9 million and is estimated to be USD 26,322.9 million in 2023.
Introduction of new and progressed products, like breath-actuated metered dose inhalers, offering improvement in the content of usage and patient conformity, which are with present distinct opportunities available for manufacturers in the market.
Companies are mainly focused on the presentation of new and advanced products in the industry. Moreover, the rise in the governance of metered dose inhalers poses a challenge to the expansion of the market. According to the Future Market Research report, the meter dose inhalers market is predicted to expand at a CAGR of 4.5% between 2023 and 2033, totaling around USD 40,895.5 million by 2033.
The global metered dose inhalers market is forecasted to be appraised at USD 40,140 million by 2032, up from USD 25,210 million in 2022, advancing at a CAGR of 4.3%.
Metered dose inhalers are the most common inhalers used for treating respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis. The sales of metered dose inhalers are rising as they deliver a specific quantity of drugs to the lungs in the form of aerosolized drugs to provide pharmacological action.
Attributes | Details |
---|---|
Projected Forecast Value (2022) | USD 25,208.9 million |
Projected Forecast Value (2023) | USD 26,322.9 million |
Projected Forecast Value (2033) | USD 40,895.5 million |
Growth rate | 4.5% CAGR |
Forecast period | 2023 to 2033 |
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The global metered dose inhalers market grew at a CAGR of 3.9% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 4.5% between 2023 and 2033.
Metered dose inhalers contain active pharmaceutical ingredients suspended or dissolved in propellants, solvents, or a mixture of propellants in compact aerosol dispensers. Demand for metered dose inhalers is on the rise due to their simple application in a short burst of sprays of a fixed dose, which is usually self-administered by the patient itself through inhalation.
Metered dose inhalers market is likely to have significant growth during the forecast period as the prevalence of respiratory diseases is increasing.
The Rise in Respiratory Diseases
The increasing prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary diseases, chronic respiratory diseases, and other respiratory diseases are driving the demand for metered-dose inhalers.
Availability of Effective and Advanced Respiratory Devices
Increased awareness of the effective and advanced respiratory devices compared to the traditional treatments fueling the growth of the metered-dose inhalers market. Increased pollution across the globe is serving to be one of the prime drivers for the increase in demand for metered-dose inhalers, as the risk of respiratory diseases is increasing with increasing pollution.
The rise in the geriatric population with growing respiratory disorders of both severe and mild forms is fueling the demand for these new-generation inhalation devices. Moreover, the populace is looking forward to cost-effective medications, and growing awareness among people about generic drugs is expected to significantly drive the metered dose inhalers market.
Growth in Research and Technological Advancements
Technological advancements by respiratory device manufacturers have boosted the growth of metered dose inhaler market. The shift in patient inclination from hospital care devices to home pharmaceuticals and healthcare devices has propelled the growth of this market further.
Metered dose inhalers are easy to use and have several advantages like being portable, multidose delivery capability, easy to use, providing immediate relief, and low risk of bacterial contaminations as it is prefilled where these factors are also driving the sales of metered dose inhalers.
Leading key market manufacturers have been focusing on increasing research and development activities and producing new product solutions for specific applications as there are varying demands based on utilization. Moreover, these market players have determined how improved accuracy can be influential in many applications.
Robust Growth in Investment in Research and Development
Opportunities available for metered dose inhaler market, such as increasing investment in research and development activities, developing advancements in manufacturing devices for asthma, and providing cost-effective medication for patients.
High Cost of Medications and Devices Available
Factors that restrain the growth of the market such as the high cost of medication and devices, lack of awareness amongst the people about the advanced treatment and available devices for asthma, and reduction in the investment in research and development activities. Moreover, the production cost of the metered dose inhalers is high, and they may have side effects if the medication is inhaled, which is anticipated to affect the market surge rate for the metered dose inhalers.
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Presence of a Large Number of Metered Dose Inhaler Manufacturers
North America is expected to hold a significant portion of the global market during the forecast period with a market share of 41.1%.
The United States holds a dominant part in this region with a market share of 36.8% attributable due to the presence of a huge number of metered dose inhaler manufacturers and a high rate of maintenance of metered dose inhalers in the region. The United States is the leading market for metered dose inhalers in the region, followed by Canada.
The rise in the presence of respiratory diseases like asthma and COPD and the increase in the geriatric population in the region are the key factors driving market development in North America.
At present, North America coupled Asia Pacific region is anticipated to hold a significant market share and dominate the overall metered dose market due to the factors such as:
Rise in Awareness of the Respiratory Diseases
Europe’s market is said to hold a market share of 27.9% of the total market size of metered dose inhalers. The United Kingdom is said to hold a significant position in this market region with a rise in growth of CAGR of 5.2% whereas Germany holds a market share of 4.9%.
Regions are anticipated for dominating the metered dose inhalers market in regards to volume and value due to an increase in awareness of respiratory diseases that owes to a rise in demand from the pharmaceutical and healthcare industry.
Upliftment of the Pharmaceutical Industry
Japan is said to hold a market share of 8.2%. Disruption of the pandemic has positively impacted Japan’s respiratory devices market where the number of patients had chronic pulmonary disease or interstitial lung diseases which were relatively high. Further, death rates were rising due to which immediate precautions were taken for the proper and better cures of the patients.
Reasonable Cost of the Metered Dose Inhalers
India is said to expand at a CAGR of 5.5% where the rise in the occurrence of respiratory disorders leads to frequent visits to doctors and is recommended by them to use metered dose inhalers simultaneously. This in turn raises the market for metered dose inhalers in India due to the reasonable cost of the product.
High Levels of Air Pollution
China is considered to be in the first position in case of its population, due to not only the number of smokers rising in the country but also the vast number of vehicles or substances leading to lung or respiratory diseases substantially also rises to expand at a CAGR of 5.6%
Manually-Actuated Pressurized Metered- Dose Inhalers are said to have a Dominating Position in the Market
The market for manually-actuated pressurized metered-dose inhalers is high as they can be easily used and deliver respiratory medications directly to the lungs, thus consisting of the main portion of the market share of 94.67%.
Corticosteroids are said to have the Leading Position in the Market
Corticosteroids are said to hold a market share of 42.80%. The usage of corticosteroids helps to reduce inflammation by fast suppressing the immune system.
Asthma is said to have more Effect on the Metered Dose Inhalers Market
The rise in pollution leading to a simultaneous rise in the consumption of smoke with the rise in the number of smokers has led asthmatic patients to have robust growth in the market leading to a market share of 59.3%.
Hospital Pharmacies are Likely to Raise the Market Share of Metered Dose Inhalers
Hospital Pharmacies hold a significant market share of 60.6% as the metered dose inhalers are mostly available in hospital pharmacies where it becomes much easy for the customers to purchase.
Some of the prominent players working in the global market are:
Some of the Important Developments of the Key Players in the Market
Report Attributes | Details |
---|---|
Growth Rate | CAGR of 4.5% from 2023 to 2033 |
Market value in 2023 | USD 26,322.9 million |
Market value in 2033 | USD 40,895.5 million |
Base Year for Estimation | 2023 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered | By Country, By Type, By End-user |
Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Western Europe, Poland, Russia, Czech Republic, Romania, Rest of Eastern Europe, India, Bangladesh, Australia, New Zealand, Rest of South Asia and the Pacific, China, Japan, South Korea, GCC Countries, South Africa, Israel, Rest of The Middle East and Africa |
Key Companies Profiled |
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. |
Customisation Scope | Available on Request |
The United States, Japan, and China dominate the global market.
The market is forecast to register a CAGR of 4.5% through 2033.
From 2018 to 2022, the market registered a CAGR of 3%.
Technological advancement by respiratory device manufacturers.
The global market size to reach USD 40,895.5 million by 2033.
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