Market Research Future (MRFR) has published on the “Global Soft Mist Inhalers Market”.
The Soft Mist Inhalers market is estimated to register a CAGR of 7.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Soft Mist Inhalers market— Recipharm, Boehringer, Ingelheim am Rhein, Germany, Merxin Ltd, DSB Medical Co., Ltd., Resyca BV, Aero Pump GmbH and Ursatec GmbH.
Soft Mist Inhalers Market Highlights
The global Soft Mist Inhalers market is accounted to register a CAGR of 7.00% during the forecast period and is estimated to reach USD 4.5 billion by 2032.
A substantial market driver for Soft Mist Inhalers is the increasing incidence of respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma and cystic fibrosis. The increasing prevalence of these conditions on a global scale creates a demand for efficacious inhalation therapies. However, manufacturers of inhalers face difficulties in adhering to regulatory standards. Strict regulations pertaining to the performance, quality control, safety and efficacy of devices impede the expansion of product approval processes and contribute to cost escalation.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Soft Mist Inhalers Market
Segment Analysis
The global Soft Mist Inhalers market has been segmented based on Product Type, Age Group, Application, Distribution Channel and End-use.
On the basis of Product Type, the market is segmented into Disposable and Reusable. The Reusable segment was allocated a significant portion of the market in 2023. This is because reusable SMIs enable patients to independently prescribe and modify medications.
Based on Age Group, the global Soft Mist Inhalers market has been segmented into Adult and Pediatric. The adult demographic possessed the largest market share in 2023. As adult respiratory disorders become more prevalent, there has been a corresponding surge in the demand for light mist inhalers and other pharmaceutical inhalers.
On the basis of Application, the market is segmented into Asthma and COPD. The asthma segment was allocated the largest market share in the year 2023. Major pharmaceutical companies' increased investment in research and development for enhanced asthma inhalers coincides with a rise in the prevalence of metered dose and mild mist inhalers.
Based on Distribution Channel, the global Soft Mist Inhalers market has been segmented into Hospital pharmacies, Retail pharmacies and Online pharmacies. Based on projections, the hospital pharmacies sector was anticipated to sustain its prevailing market position through the year 2023. Soft mist inhalers frequently supplied by hospital pharmacists, aid in the efficient delivery of bronchodilators and other pertinent medications.
On the basis of End-use, the market is segmented into Hospitals and clinics, Homecare settings and Other end users. The hospitals and clinics segment was allocated the largest market share in the year 2023. To ensure treatment consistency, patients afflicted with respiratory ailments receive them in a consistent manner across both settings.
Regional Analysis
The global Soft Mist Inhalers market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. North America consists of US and Canada. The Europe Soft Mist Inhalers market comprises of Germany, France, the UK, Italy, Spain and the rest of Europe. The Soft Mist Inhalers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea and the rest of Asia-Pacific. The Rest of the World Soft Mist Inhalers market comprises of Middle East, Africa and Latin America.
The gentle mist inhaler market share remained predominantly concentrated in the North American regional sector. The rising incidence of respiratory ailments, including asthma and COPD and the expanding need for inhalation therapies that are both more convenient and efficacious, are the impetuses for this endeavor. SMI, a relatively new technology, provides a more comfortable and effective method for administering medication to the airways. Enhanced availability of SMI devices and heightened knowledge of their advantages are additional factors propelling the North American market. The increasing expense of traditional inhalers is additionally motivating a growing percentage of individuals to utilize SMIs. Additional evidence for the market's growth is provided by the proliferation of clinical trials and studies that demonstrate the SMI's efficacy.
In addition, the European market has demonstrated consistent expansion throughout the forecast period. The escalating incidence of respiratory ailments, including asthma and COPD, coupled with the expanding need for inhalation devices that are both lightweight and effective, are factors contributing to this development. The thin vapor delivered directly to the airways by the SMI is more efficient and effective than that of conventional inhalers. The proliferation of SMI devices and the increasing recognition of their advantages are additional factors that contribute to the growth of the European market. In addition, the market is experiencing substantial growth propelled by ground-breaking technologies, including Bluetooth connectivity and digital utilization tracking.
Moreover, Asia-Pacific region accounted for the fastest-growing global market. The increasing recognition of the advantages associated with their utilization in the management of respiratory ailments is the principal catalyst for the surge in demand for SMI devices. The increasing availability of SMI devices in the region is an additional factor driving market expansion. An additional factor contributing to the market's growth is the proliferation of collaborations between pharmaceutical firms and manufacturers of SMI devices. In addition, these partnerships grant access to innovative products and technologies, which expands the availability of SMI devices in the region.
In the remaining regions of the globe, which are presently the Middle East, Africa and Latin America, the market for soft mist inhalers is growing further due to rising disposable incomes, an increase in the prevalence of respiratory diseases and government incentives. These circumstances are fostering an environment that is conducive to the growth of the market and the introduction of innovative SMIs.
Key Findings of the Study
- The global Soft Mist Inhalers market is expected to reach USD 4.5 billion by 2032, at a CAGR of 7.00% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market. The increasing recognition of the advantages associated with the utilization of SMI devices in the management of respiratory ailments is the primary catalyst for the surge in demand for such devices.
- Based on end-use, the hospitals and clinics segment was attributed to holding the largest market in 2023.
- Recipharm, Boehringer, Ingelheim am Rhein, Germany, Merxin Ltd, DSB Medical Co., Ltd., Resyca BV, Aero Pump GmbH and Ursatec GmbH are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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