For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Metered Dose Inhaler Devices Market By Patient Type (Adult And Pedriatric), By Application (Chronic Obstructive Pulmonary Diseases (Copd), Asthma, Covid-19, Diabetes, And Others), By Distribution Channel (Online And Offline), and by geography is expected to grow at a steady CAGR forecast till 2027 owing to increasing prevalence of chronic obstructive pulmonary diseases (copd) and rising prevalence in asthma
The global metered dose inhaler devices market was valued at USD 16,613 million in 2021, growing at a CAGR of 3.99% during the forecast period from 2022 to 2027 to reach USD 21,423 million by 2027. The metered dose inhaler devices market is witnessing a positive growth owing to the various factors such as increasing prevalence of COVID-19, rising prevalence of diabetes, increasing prevalence of asthma, surge in cystic fibrosis cases, surge in prevalence of Chronic Obstructive Pulmonary Diseases (COPD), rise in geriatric population and increase in technological advancements with respect to the product offerings. Therefore, the market for metered dose inhaler devices is estimated to grow during the forecast period from 2022 to 2027.
Metered Dose Inhaler Devices Market Dynamics:
The increased prevalence of diabetes is one of the key factors driving the market for metered dose inhaler devices. For instance, according to the International Diabetes Federation (IDF), IDF Diabetes Atlas Tenth edition released in the year 2021, worldwide, diabetes had affected about 537 million people of age between 20-79 years. Moreover, diabetes can be predicted to affect 643 million people worldwide by 2030 and 783 million people by 2045. Further, insulin powder is administered by metered dose inhalers to treat diabetes. As a result, the demand for metered dose inhaler devices rises due to an increase in diabetes cases, propelling the global metered dose inhaler devices market ahead over the forecast period (2022-2027).
Moreover, another key factor which is responsible for the growth of metered dose inhaler devices market is the increasing prevalence of asthma. For instance, according to the data published by World Health Organization (WHO) in the year 2022, in 2019, asthma afflicted an estimated 262 million individuals globally. Moreover, as per the data published by Asthma and Allergy Foundation of America in the year 2022, in 2019, approximately 25 million people had asthma in the United States. Thus, metered dose inhaler devices are used to treat asthma. Therefore, rising prevalence in asthma increases the demand for metered dose inhaler devices, which drives the overall metered dose inhaler devices market forward over the forecast period (2022-2027).
However, lack of awareness about metered dose inhaler devices and severe side effects associated with the devices, can hamper the global metered dose inhaler devices market growth.
The COVID-19 pandemic has positively impacted the market for metered dose inhaler devices, this can be due to the severe effects of COVID on lungs and it is estimated that people may have respiratory infections as an after effect of COVID, which surged the demand for metered dose inhaler devices among patients recovering with COVID, as well as shortness of breath as its prevalent symptom also contributed to the metered dose inhaler devices demand among COVID patients. Hence, the demand for metered dose inhaler devices will continue to rise in the forecast period from 2022-2027.
Metered Dose Inhaler Devices Market Segment Analysis:
Metered dose inhaler devices market by Patient Type (Adult and Pediatric), Application (Chronic Obstructive Pulmonary Diseases (COPD), Asthma, COVID-19, Diabetes, and Others), Distribution Channel (Online and Offline), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In by application segment of metered dose inhaler devices market, Chronic Obstructive Pulmonary Diseases (COPD) are expected to share a significant revenue in the year 2021. Metered dose inhaler devices are a portable, easy-to-use device that delivers asthma medicine in aerosol form to the lungs. They may be used with a variety of COPD drugs, such as steroids including flovent hydrofluoroalkane (HFA) and a combination of steroid/bronchodilators such as Symbicort, and combination medications. Thus, these benefits associated with the metered dose inhaler devices can increase the demand of metered dose inhaler devices, which could increase the metered dose inhaler devices overall market. However, a rise in product launch associated with the metered dose inhaler devices also drives its market growth.
In October 2020, Zydus Cadila, multinational pharmaceutical company, announced the launch of Forglyn pMDI, India's first pressurized Metered Dose Inhaler (pMDI) with a combination of Long Acting Muscarinic Antagonist (LAMA) and Long Acting Beta Agonist (LABA) for patients suffering from Chronic Obstructive Pulmonary Disease (COPD) in India.
Moreover, due to the interplay of all the factors mentioned above, results in the rising demand for metered dose inhaler devices, which in turn provide a conducive growth environment for overall metered dose inhaler devices during the market forecast of 2022-2027.
North America is expected to dominate the overall Metered Dose Inhaler Devices Market:
Among all the regions, North America is expected to dominate the global metered dose inhaler devices market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as the rising prevalence of asthma and surge in cystic fibrosis cases are expected to increase the demand for metered dose inhaler devices in the North American market.
According to the data published by WHO from 3 January 2020 to 21 September 2022, there have been 94,471,064 confirmed cases of COVID-19 in United States. Further, COVID-19 increases the risk of respiratory infections in the patients affecting the lungs. Thus, rising prevalence of COVID increases the demand for metered dose inhaler devices, which surges the growth for metered dose inhaler devices overall market forecast.
Moreover, as per the latest data released by American Lung Association in the year 2020, cystic fibrosis affected approximately 30,000 people in the United States. Also, as per the cystic fibrosis Canada's 2020 annual data report from the Canadian Cystic Fibrosis Registry, released that in 2020, there were 4,332 Canadians with CF, with 62% of them being adults. Further, metered dose inhalers are available for the treatment of cystic fibrosis. Therefore, surge in cystic fibrosis cases would increase the demand for metered dose inhaler devices, which boost the metered dose inhaler devices overall market growth.
Furthermore, the factors mentioned above, provide a conducive growth environment for North American region in metered dose inhaler devices market.
Metered Dose Inhaler Devices Market Key Players:
Some of the key market players operating in the metered dose inhaler devices market include H&T Presspart Manufacturing Ltd, MidasCare, Beximco Pharmaceuticals Ltd, BioCare Group (M) Sdn Bhd, Intech Biopharm Corporation, AstraZeneca, Recipharm AB (publ), Maya Biotech Pvt. Ltd, BreatheSuite Inc, and among others.
Recent Developmental Activities in the Dry Powder Inhaler Devices:
- In March 2022, Novartis' Sandoz, a Swiss multinational pharmaceutical corporation, acquired, UK based delivery device development company, Coalesce Product Development Limited, developing a portfolio of inhalation devices. This includes new versions of pressurized metered dose inhalers (pMDI), breath-actuated inhalers (BAI) and pre-metered dry powder inhalers (DPI).
- In February 2022, Aptar Pharma, a global leader in drug delivery systems, services and active material science solutions, announced the launch of HeroTracker® Sense, a unique digital respiratory health solution that turns a normal metered dosage inhaler (pMDI) into a smart linked healthcare device.
- In September 2021, BreatheSuite Inc., a Canadian connected respiratory health startup, announced that its BreatheSuite Metered-Dose Inhaler (MDI) V1 device has acquired 510(K) approval from the US Food and Drug Administration (FDA). The BreatheSuite gadget converts conventional MDIs into smart inhalers by automatically and objectively monitoring and delivering feedback on inhaler adherence and technique for persons with asthma and COPD. It is approved for both prescription and over-the-counter usage.
Key Takeaways from the Metered Dose Inhaler Devices Market Report Study
- Market size analysis for current metered dose inhaler devices market (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the metered dose inhaler devices market
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint venture happened over the last 3 years.
- Key companies dominating the global metered dose inhaler devices
- Various opportunities are available for the other competitor in the metered dose inhaler devices market space.
- What are the top-performing segments in 2021? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current metered dose inhaler devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for metered dose inhaler devices market growth in the coming future?
Target Audience who can be benefited from this Metered Dose Inhaler Devices Market Report Study
- Metered dose inhaler devices providers
- Research organizations and consulting companies
- Dry powder inhaler devices-related organizations, associations, forums, and other alliances
- Government and corporate offices
- Start-up companies, venture capitalists, and private equity firms
- Distributors and traders dealing in metered dose inhaler devices
- Various end-users who want to know more about the metered dose inhaler devices market and latest technological developments in the metered dose inhaler devices
Frequently Asked Questions for Metered Dose Inhaler Devices:
1. What are Metered Dose Inhaler Devices?
The Metered Dose Inhaler device (MDI) is a medication canister that is pressurised and held in a plastic container with a mouthpiece. When sprayed, it delivers a constant and predictable amount of medicine. It is the most widely utilized delivery method for treating asthma, COPD, and other respiratory illnesses.
2. What is the market for Global Metered Dose Inhaler Devices?
The global metered dose inhaler devices market was valued at USD 16,613 million in 2021, growing at a CAGR of 3.99% during the forecast period from 2022 to 2027 to reach USD 21,423 million by 2027.
3. What are the drivers for the Global Metered Dose Inhaler Devices market?
The metered dose inhaler devices market is witnessing a positive market growth owing to the factors such as increasing prevalence of COVID-19, rising prevalence of diabetes, increasing prevalence of asthma, surge in cystic fibrosis cases, surge in prevalence of Chronic Obstructive Pulmonary Diseases (COPD), rise in geriatric population and increase in technological advancements with respect to the product offerings.
4. Who are the key players operating in the Metered Dose Inhaler Devices market?
Some of the key market players operating in the metered dose inhaler devices market include H&T Presspart Manufacturing Ltd, MidasCare, Beximco Pharmaceuticals Ltd, BioCare Group (M) Sdn Bhd, Intech Biopharm Corporation, AstraZeneca, Recipharm AB (publ), Maya Biotech Pvt. Ltd, BreatheSuite Inc, and among others.
5. Which region has the highest share in Metered Dose Inhaler Devices market?
North America is expected to dominate the global metered dose inhaler devices market. Factors contributing to the growth of metered dose inhaler devices market in the North America region are rising prevalence of COVID-19 and surge in cystic fibrosis cases.