Aerosol Delivery Devices Market Size, Share & Trends Analysis Report By Product (Dry powder inhalers, Metered dose inhalers, Nebulizers), By Application (Asthma, Chronic obstructive pulmonary disease, Cystic fibrosis, Non respiratory diseases), By Distribution Channel (Retail pharmacies, Hospital pharmacies, E-commerce) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global aerosol delivery devices market was valued at USD 37934 million in 2022. It is projected to reach USD 59252 million by 2031, growing at a CAGR of 5.08% during the forecast period (2023–2031).

Aerosol delivery devices facilitate drug administration. Medication inhaled into the lungs is commonly used to treat or prevent respiratory and non-respiratory conditions such as asthma and chronic obstructive pulmonary disease. Aerosol delivery systems have many benefits, including the early beginning of action of broncho-active medications, the ease and comfort of patient self-administration, and the direct deposition of inhaled medication to airway receptor sites. Increases in demand for DPI, patient awareness of the need for effective and improved respiratory devices, technological advances in DPI medication delivery, and the introduction of cost-effective solutions all point to strong market growth for the DPI subsegment over the projection period.

Market Dynamics

What are the Primary Factors driving the Market for Aerosol Delivery Devices?

Increase in Air Pollution

The increased incidence of COPD and asthma can primarily be linked to the rise in air pollution from sources including car exhaust and human activity. Several studies have demonstrated that exposure to polluted air worsens asthma symptoms. Ozone, which is present in smog, and particulate matter, present in smoke, haze, and dust, are two of the most important air pollutants that severely aggravate asthma symptoms. Asthma risk rises precipitously as ozone and particle matter levels continue to climb. Asthma and chronic obstructive pulmonary disease (COPD) cases are projected to rise with the air pollution increase, driving market expansion.

What are the Main Factors that will slow down the Market for Aerosol Delivery Devices?

High Cost of Asthma and COPD Treatments

Asthma and chronic obstructive pulmonary disease (COPD) treatment takes much time and may be expensive. The latter is of particular concern because there is currently no cure for either condition. A sudden asthma attack requires a rescue inhaler, but these are prohibitively expensive for people in low-income nations to stock up on regularly. Most of the world's asthmatics live in low-income nations, where the high expense of treatment presents a significant obstacle. The expansion of the aerosol delivery devices market is stunted in developing nations throughout Asia and Africa due to a lack of capital, low income, a shortage of pharmaceutical and medical device firms, and an absence of advanced production processes.

What are the Future Opportunities for Aerosol Delivery Devices?

Growth opportunities in emerging markets

Growth in the aerosol delivery devices market is likely to be driven by opportunities in new, growing markets due to an increase in unhealthy lifestyle adoption, urbanization, exposure to smoke and chemicals, and growth in the prevalence of the chronic obstructive pulmonary disease. Due to the rising demand for superior modern manufacturing systems and substantial government spending to enhance healthcare infrastructure, emerging nations' healthcare sector is increasing. In addition, China and India, two of the fastest-growing economies, are home to flourishing pharmaceutical and medical device industries offering promising market expansion prospects.

Regional Analysis

The global aerosol delivery market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global aerosol delivery market. The United States, Canada, and Mexico are all considered in the report because of their prominence in North America. In North America, the United States was the country that brought in the most money. More research and development (R&D) is being done; products in various stages of development for the pipeline, such as VR647, LIQ861, and APC-4000, and cutting-edge tools are readily available. The presence of a sizable elderly population, the convenience of aerosol delivery devices, the generosity of reimbursement policies, and the growing knowledge of the benefits of these products in healthcare all contribute to the expansion of the market.

Europe is expected to grow during the forecast period. Growth in the demand for cutting-edge aerosol delivery devices, as well as the dominance of companies like GlaxoSmithKline plc and Koninklijke Philips N.V., bodes well for the European aerosol delivery devices market over the coming years. The European Academy of Allergy and Clinical Immunology (EAACI) efforts to raise public awareness about asthma, COPD, and other respiratory diseases, as well as the rising adoption of aerosol delivery devices by patients in these countries, all contribute positively to the expansion of the market. Additionally, the rise in the incidence of respiratory disorders and the introduction of cutting-edge pharmaceutical and medical device developments are significant growth drivers in Europe. The availability of trained experts and advanced healthcare infrastructure further help market expansion.

Japan, China, India, Australia, South Korea, and the rest of Asia and the Pacific are all considered. The aging population and the rising number of smokers are driving the market expansion in this area. The World Health Organization also reports that about 90% of deaths from COPD and asthma occur in low and middle-income nations. Increases in the use of inhalers and nebulizers and the need for home healthcare devices contribute to the expansion of the market. Moreover, the primary factors for the considerable growth of the market are the increasing public awareness of the use and advantages of these devices and the low cost of medical equipment.

Segmental Analysis

The global aerosol delivery devices market is segmented by product, application, and distribution channel.

Based on product, the global market is bifurcated into dry powder inhalers, metered dose inhalers, and nebulizers.

The metered dose inhalers segment is the highest contributor to the market. Multi-dose inhalers hold a predetermined number of administered successfully until the device is empty. Inhalers with a metered dose mechanism are compact, portable, self-contained medicine device combinations that distribute many doses by a metered value. Aerosol treatment devices are essential for administering drugs via inhalation and have extensive applications. Medicine is sprayed into the patient's lungs from an MDI. Asthma, chronic obstructive pulmonary disease, and cystic fibrosis are just some of the respiratory conditions they address.

Based on application, the global market is bifurcated into asthma, chronic obstructive pulmonary disease, cystic fibrosis, and non-respiratory diseases.

The asthma segment is the highest contributor to the market. Asthma is a significant worldwide non-communicable disease. Inflammation and constriction of the airways in the lungs are hallmarks of this chronic disease. Asthma is a chronic condition that strikes people of all ages, but it is especially prevalent in younger children. In some cases, a person with a previous asthma diagnosis may also experience allergic asthma symptoms. Asthma is another possible outcome of prolonged exposure to dust, gases, or fumes. Exercising can also cause a condition known as exercise-induced bronchoconstriction, which makes it harder for the airways to dilate. Although there is currently no cure for asthma, medication can help keep symptoms at bay. Inhalers such as dry powder inhalers, metered dose inhalers, and nebulizers are commonly used to administer asthma medication directly into the lungs.

Based on distribution channel, the global market is bifurcated into retail pharmacies, hospital pharmacies, and e-commerce.

The retail pharmacies segment is the highest contributor to the market. Cosmetics, first aid kits, prescription drugs, and OTC medicines are some things sold at a retail pharmacy. Due to their extensive distribution network, retail pharmacies are widely regarded as the most reliable and traditional means for disseminating aerosol delivery devices to consumers. Pharmacists also play a significant role in other areas related to patient care, including counseling and education, drug safety management, medication review, monitoring, reconciliation, detection, and control of various respiratory risk factors. These factors are expected to create substantial growth prospects for the aerosol delivery devices market over the forecast period.

Recent Developments

• July 2022- Transpire Bio has partnered with Recipharm to develop an inhalation medication.

• February 2022- Arranta Bio, a top contract development and manufacturing organization (CDMO) for ATMPs, has been acquired by Recipharm to bolster the company's biologics portfolio in the United States.