Metered Dose Inhalers Market to Reach US$ 22.1 Billion by 2031, as per a Transparency Market Research, Inc.

WILMINGTON, DE / ACCESSWIRE / February 7, 2023 / Transparency Market Research Inc. - According to a recent study by Transparency Market Research, the global metered dose inhalers market was valued at US$ 16.3 Bn in 2021 and is anticipated reach US$ 22.1 Bn by 2031, expanding at a CAGR of 3.1% during the forecast period from 2022 to 2031.

The surge in the incidence of COPD and asthma is boosting market demand for portable, technologically advanced, and easy-to-use metered dose inhalers (MDIs). The advent of new and innovative products is also boosting market value.

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Metered Dose Inhalers Market: Key Findings of Report

• Impact of COVID-19 Pandemic on Metered Dose Inhalers Market: The COVID-19 pandemic had a substantial impact on the global market. In the early stages of the pandemic, demand for MDIs was extremely high, as patients suffering from respiratory illnesses were looking for effective ways to manage their conditions and symptoms at the home. However, disruptions in supply chains and the shutting down of production facilities severely hampered market growth. Nevertheless, the market outlook looks promising in the near future owing to the lifting of lockdown measures and the reopening of production facilities. An increase in the incidence of chronic respiratory conditions is anticipated to bolster industry growth in the next few years.
• The advent of Technologically Advanced and Innovative Products: Manufacturers are focusing on increasing the production of novel breath-actuated MDIs that release precise amounts of medication automatically when inhaled by a patient. This eliminates the requirement of manual coordination for patients between pressing the inhaler and breathing, making the process easier. Furthermore, these advanced products are benefiting users in terms of fewer errors related to inhalers and patient outcomes. Additionally, a study carried out by the Journal of Asthma and Allergy indicated that the usage of breath-actuated MDIs helps patients in inhaling the correct amount of asthma medications, aiding them in adhering to the therapy regimen.

Metered Dose Inhalers Market: Growth Opportunities

• A surge in the introduction of new products that feature advanced and innovative technologies by leading manufacturers presents significant business opportunities
• Ability to use MDIs with other forms of respiratory therapies, including dry powder inhalers
• Increase in the number of individuals across the world suffering from asthma

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Metered Dose Inhalers Market: Key Players

Leading players operating in the global market include AstraZeneca, Sanofi, Mylan N.V., Cipla Limited, Novartis AG, Boehringer Ingelheim, GlaxoSmithKline, Merck & Co., Inc., Teva Pharmaceutical Industries, Ltd., and Hikma Pharmaceuticals plc. These companies are focused on the adoption of expansion strategies, including the launch of new and technologically advanced products, merger & acquisition, strategic partnerships, and research & development.

Metered Dose Inhalers Market: Regional Growth Assessment

North America is anticipated to account for the leading market share during the forecast period. This is ascribed to the presence of a large number of MDI manufacturers, rapid & early adoption of technologically advanced MDIs, and an increase in the geriatric population in the region. Europe is anticipated to account for the second-largest share of the global market in the near future. This is ascribed to the presence of a large pool of patients suffering from chronic respiratory diseases and the rise in the adoption of MDIs in combination with other respiratory drug delivery systems.

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Metered Dose Inhalers Market: Segmentation

Metered Dose Inhalers Market, by Product type

• Manual Actuated pMDIs
• Breath Actuated pMDIs

Metered Dose Inhalers Market, by Disease Indication

• Asthma
• COPD
• Others

Metered Dose Inhalers Market, by Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Metered Dose Inhalers Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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SOURCE: Transparency Market Research inc.