Respiratory Inhaler Device Market Size

Respiratory Inhaler Device Market size was valued at USD 37.07 billion in 2023 and is likely to reach USD 68.19 billion by 2036, expanding at around 4.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of respiratory inhaler device is estimated at USD 38.49 billion.

The growth of the market can be attributed to increasing cases of chronic obstructive pulmonary diseases. Furthermore, the data published by the World Health Organization states that asthma affected 262 million people in 2019 and caused 455,000 deaths worldwide. The inhaled medication can control asthma symptoms, which is the reason global market is projected to grow significantly during the forecast period. Additionally, the prevalence of chronic obstructive pulmonary diseases is directly related to tobacco smoking. The data released by the Institutes for Health Metrics and Evaluation states that the number of smokers is rising worldwide and in 2019, smoking caused 8 million deaths. On the back of an escalating number of people involved in smoking the market is estimated to grow significantly during the forecast period. The inhalers are effective in providing relief to common cold patients. On account of the efficacy in providing relief to common cold patients, the respiratory inhaler device market is projected to grow during the forecast period.