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Increase in ageing population who are prone to or has risk of respiratory infections will boost market growth
NEW YORK , NY, UNITED STATES, May 1, 2023 /EINPresswire.com/ -- The global dry powder inhaler device market had a size of USD 19.66 billion in 2022 and is expected to reach USD 27.98 billion in 2032, with a predicted revenue compound annual growth rate (CAGR) of 4% over the forecast period. The growing prevalence of respiratory disorders such as asthma, COPD, and cystic fibrosis is driving the demand for Dry Powder Inhaler (DPI) devices worldwide.
Manufacturers are developing technologically advanced DPI devices to meet the increasing demand, as patients with respiratory disorders prefer practical and easy-to-use inhalers. DPIs are more practical than traditional inhalers because they do not use propellants, making them more environmentally friendly. Additionally, DPIs have a superior ability to deliver dry powder drugs directly to the lungs, making them a preferred treatment option for respiratory diseases.
Government initiatives and funding for research into respiratory diseases are expected to increase the demand for DPI devices. For example, in the United States, the National Heart, Lung, and Blood Institute was established by the National Institutes of Health (NIH) to promote research on respiratory disorders, which is driving the use of DPI devices in the region.
The global market for dry powder inhaler devices is also being driven by a growing demand for customized medicine and the development of innovative medication formulations. Manufacturers are creating DPI devices that can administer various dry powder pharmaceutical formulations, including combination therapies, which is encouraging the use of DPI devices in the treatment of respiratory diseases.
Moreover, the market revenue growth for dry powder inhaler devices is expected to increase due to technological advancements and the creation of smart DPI devices. Smart DPI devices have sensors that provide real-time feedback on patient adherence and drug use, which is expected to improve patient outcomes.
However, the high cost of dry powder inhaler devices and the availability of alternatives such as nebulizers and Pressurized Metered-Dose Inhalers (pMDIs) may limit market revenue growth.
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Segments Covered in the Report
The dry powder inhaler device market is segmented based on type outlook and application outlook. Under type outlook, the market is divided into single-dose and multi-dose inhalers. Single-dose inhalers are prefilled with dry powder, intended for one-time use, and discarded after use. Multi-dose inhalers contain multiple doses of medication and can be used multiple times by the patient.
Based on application outlook, the market is segmented into four categories: asthma, Chronic Obstructive Pulmonary Disease (COPD), cystic fibrosis, and others. Asthma is a common respiratory condition characterized by difficulty breathing, coughing, and wheezing. COPD is a progressive lung disease that causes shortness of breath and limits airflow. Cystic fibrosis is a genetic disorder that affects the respiratory, digestive, and reproductive systems. The "others" category covers other respiratory disorders not included in the three mentioned above.
Geographically, the dry powder inhaler device market is analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe are expected to hold a significant share of the market, driven by the rising prevalence of respiratory disorders and the presence of well-established healthcare infrastructure. The Asia Pacific is projected to witness considerable growth in the coming years due to the growing population, increasing air pollution levels, and the rising prevalence of respiratory disorders.
Furthermore, the Middle East & Africa and Latin America regions are expected to show moderate growth during the forecast period. These regions are likely to be driven by increasing government initiatives and investments in the healthcare sector and the rising demand for advanced inhalation devices.
In conclusion, the global dry powder inhaler device market is segmented based on type outlook, application outlook, and regional outlook. Single-dose and multi-dose inhalers are the two types analyzed, while asthma, COPD, cystic fibrosis, and others are the application outlooks. The market is analyzed across five regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Strategic development:
GlaxoSmithKline plc formed a partnership with Innoviva, Inc. in 2020 to enhance the development and commercialization of their respiratory drug portfolio, which includes dry powder inhaler devices. This partnership was established with the aim of expanding both companies' market presence and developing innovative therapies for respiratory diseases.
AstraZeneca plc announced in 2020 that it had acquired Pearl Therapeutics Inc., a biopharmaceutical company from the United States, specializing in developing inhaled therapeutics for respiratory diseases. The acquisition was intended to strengthen AstraZeneca's respiratory portfolio and broaden its reach in the dry powder inhaler device market.
In 2021, Teva Pharmaceutical Industries Ltd. introduced its ProAir® Digihaler® (albuterol sulfate) inhalation powder, which is a digital inhaler device designed for the treatment of asthma and chronic obstructive pulmonary disease (COPD). The device features sensors that track medication usage and send data to a mobile app, providing personalized feedback to patients on their inhaler technique and medication adherence.
Hovione launched its PureHale® dry powder inhaler device in 2021, which is intended for delivering pharmaceutical-grade dry powder formulations directly to the lungs. The device is compact and easy to use, making it a practical solution for patients with respiratory diseases requiring frequent inhalation therapy.
Competitive Landscape:
The global market for dry powder inhaler (DPI) devices is highly competitive, with several key players vying for market share. GlaxoSmithKline plc, AstraZeneca plc, and Boehringer Ingelheim International GmbH are some of the major players in the market. These companies have a significant market presence and offer a diverse portfolio of DPI devices and respiratory drugs.
Teva Pharmaceutical Industries Ltd. and Mylan N.V. are also major players in the DPI device market. In 2021, Teva launched its ProAir Digihaler, a digital inhaler device that offers real-time feedback to patients on their inhaler technique and medication adherence. Mylan offers a range of DPI devices for the treatment of asthma and COPD.
Other key players in the DPI device market include Chiesi Farmaceutici S.p.A., Cipla Inc., 3M Company, Hovione, and DPI Co., Ltd. These companies offer a range of DPI devices for the treatment of respiratory diseases and are focused on developing innovative technologies to improve patient outcomes.
With the growing demand for customized medicine and the development of innovative medication formulations, DPI device manufacturers are focused on creating devices that can administer various dry powder pharmaceutical formulations, including combination therapies. Additionally, the market for smart DPI devices is expected to grow in the coming years, as these devices offer real-time feedback on patient adherence and drug use, leading to improved patient outcomes.
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In conclusion, the global dry powder inhaler device market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.
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Nikhil Morankar
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