Dry Powder Inhaler Market is forecasted CAGR of 7.2% to reach a valuation of US$ 2.2 billion by 2034

Integration of Smart Sensors into Dry Powder Inhalers Enhancing Patient Outcomes: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, July 16, 2024 /EINPresswire.com/ -- Global demand for dry powder inhalers (DPI) is set to reach a market value of US$ 1.1 billion in 2024, as revealed in the latest research report published by Fact.MR, a market research and competitive intelligence provider. The market is forecasted to expand at a CAGR of 7.2% from 2024 to 2034.

Increasing health consciousness among more consumers along with their inclination to manage well-being is projected to increase demand for dry powder inhalers. The emergence of new drug delivery technologies is forecasted to present lucrative opportunities for dry powder inhaler suppliers. Breakthroughs in biopharmaceuticals and nanotechnology are estimated to revolutionize DPI efficacy and design, which is expected to open new avenues for treatment.

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Influence of online platforms and social media on consumer behavior and health awareness is anticipated to educate diverse audiences. Manufacturers are projected to invest in offering customizable products to end users, which is expected to positively impact market growth.

Key Takeaway from Market Study

Global sales of dry powder inhalers are calculated at US$ 1.1 billion for 2024. The global dry powder inhaler market is forecasted to reach US$ 2.2 billion by the end of 2034. The market is projected to advance at 7.2% CAGR from 2024 to 2034.

Sales of dry powder inhalers in Japan are approximated to rise at a CAGR of 7.7% from 2024 to 2034. Worldwide demand for capsule-based dry powder inhalers is projected to increase at a CAGR of 7.7% and reach a market valuation of US$ 660.7 million by 2034. East Asia is expected to hold 23.1% share of the global market by 2034-end.

“Growing prevalence of respiratory diseases, rising focus on preventive healthcare, and increasing healthcare expenditure are key factors set to increase demand for dry powder inhalers,” says a Fact.MR analyst.

Country-wise Insights:

According to a study released by market research and competitive intelligence company Fact.MR, North America is expected to hold a 23.4% market share for dry powder inhalers by 2034. Furthermore, the demand for dry powder inhalers is expected to rise in North America due to the region's well-developed healthcare system.

Why is the US a Major Market for Providers of Dry Powder Inhalers?

By the end of 2034, the US is predicted to own 45.6% of the North American market revenue. The expansion might be attributed to the existence of a sophisticated healthcare system, which is boosting the need for dry powder inhalers. Additionally, the country's dry powder inhaler market is growing due to the presence of some industry competitors and their participation in R&D for product innovations. Furthermore, the demand for dry powder inhalers is thought to be influenced by the rising prevalence of respiratory conditions including asthma and comparable conditions.

What is Set to Help Dry Powder Inhaler Suppliers in China?

China is estimated to contribute 47.5% of the East Asian market share by 2034. Growing expenditure on healthcare along with advancing infrastructure facilities is forecast to contribute to market growth in the country. Moreover, the rising population of elderly people is anticipated to increase demand for dry powder inhalers to cure increasing respiratory diseases.

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Portability and Convenience of Capsule-based Devices:

Capsule-based dry powder inhalers are generally portable and compact, therefore, making them convenient for more patients to carry and use irrespective of location. Single-dose capsules are easily transportable and lightweight, thus allowing the administration of medication without any requirements for additional accessories. This portability is projected to enhance patients' adherence to prescribed treatment regimes, especially for individuals with frequent travel requirements.

Key Market Players:

Key manufacturers of dry powder inhalers are Respira Therapeutics, Inc., AstraZeneca, Teva, GlaxoSmithKline Plc., OPKO, Vectura Group Plc., 3M, Boehringer Ingelheim GmbH, Hovione, Cipla, Otsuka Pharmaceutical Co. Ltd., Cheisi, and Norton Healthcare.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the dry powder inhaler market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product type (capsule-based devices, blister-based devices, reservoir/cartridge-based devices), application (bronchitis, chronic obstructive pulmonary diseases (COPD), asthma), and sales channel (offline channels, hospital pharmacies, retail pharmacies, drug stores, online channels), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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