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Dry Powder Inhaler Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 4.58%, asserts DelveInsight

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Dry Powder Inhaler Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 4.58%, asserts DelveInsight

November 15
21:40 2022
Dry Powder Inhaler Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 4.58%, asserts DelveInsight
Dry Powder Inhaler Devices Market
Dry Powder Inhaler Devices Market Expected to Witness Massive Growth with a Tremendous CAGR of 4.58%, asserts DelveInsight

The global dry powder inhaler devices market was valued at USD 13,935 million in 2021, growing at a CAGR of 4.58% during the forecast period from 2022 to 2027 to reach USD 18,626 million by 2027. 

The dry powder inhaler devices market is witnessing a positive growth owing to the various factors such as increasing prevalence of COVID-19, rising prevalence of diabetes, increasing prevalence of asthma, surge in cystic fibrosis cases, surge in prevalence of Chronic Obstructive Pulmonary Diseases (COPD), rise in geriatric population and increase in technological advancements with respect to the product offerings. Therefore, the dry powder inhaler devices market is estimated to grow during the forecast period from 2022 to 2027.

Some of the key market players operating in the Dry powder inhaler devices market include Boehringer Ingelheim Inc, CHIESI Farmaceutici S.p.A, Cipla Inc, GSK Group of Companies, Hovione, OPKO Health Inc, Teva Pharmaceutical Industries Ltd, Vectura Group Ltd, Radius Innovation & Development, Otsuka Pharmaceutical Co Ltd, RESPIRA THERAPEUTICS INC, MannKind Corporation, Pharmaxis Ltd, Stevanato Group, Harro Höfliger Verpackungsmaschinen GmbH, H&T Presspart Manufacturing Ltd, Catalent Inc, Merxin Ltd, Manta Devices LLC, PUREIMS, and among others.

DelveInsight’s “Dry Powder Inhaler Devices Market Insight & Forecast” report will offer an in-depth understanding of the Dry Powder Inhaler Devices market, further benefiting the competitors or stakeholders operating in the Dry Powder Inhaler Devices arena.

Dry Powder Inhaler Devices Overview

A Dry-Powder Inhaler is a device that uses dry powder to deliver medicine to the lungs. DPIs are often used to treat respiratory disorders such as asthma, bronchitis, emphysema, and COPD, but they have also been used to treat diabetes mellitus.

Interested to know more about the functioning of Dry Powder Inhaler Devices- Visit @ Dry Powder Inhaler Devices Operations & Working.

Dry Powder Inhaler Devices Market Insights

Among all the regions, North America is expected to dominate the global dry powder inhaler devices market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as the rising prevalence of COVID-19 and surge in cystic fibrosis cases are expected to increase the demand of dry powder inhaler devices in the North American market.

According to the data published by WHO from 3 January 2020 to 21 September 2022, there have been 94,471,064 confirmed cases of COVID-19 in United States. Further, COVID-19 increased the respiratory infections in the patients affecting the lungs. Thus, rising prevalence of COVID increased the demand for dry powder inhaler devices, which surged the growth for dry powder inhaler devices overall market forecast.

Moreover, according to the latest data released by American Lung Association in 2020, cystic fibrosis affected approximately 30,000 people in the United States. Also, as per cystic fibrosis Canada’s 2020 annual data report from the Canadian Cystic Fibrosis Registry, had released that in 2020, there were 4,332 Canadians with CF, with 62 percent of them being adults. Further, dry powder inhalers are available for the treatment of cystic fibrosis. Therefore, surge in cystic fibrosis cases would increase the demand for dry powder inhaler devices, which boost the dry powder inhaler devices overall market growth.

Furthermore, the factors mentioned above, provide a conducive growth environment for North American region in dry powder inhaler devices market.

To read more about why North America is leading the market growth in the Dry Powder Inhaler Devices market, get a snapshot of the Dry Powder Inhaler Devices market report.

Dry Powder Inhaler Devices Market Dynamics

One of the main drivers of the dry powder inhaler devices market is the rising prevalence of diabetes. For instance, according to the International Diabetes Federation (IDF), IDF Diabetes Atlas Tenth edition released in the year 2021, worldwide, diabetes affected roughly 537 million people of age between 20-79 years. By the year 2030, the overall number of diabetes is expected to reach 643 million, and by 2045, it will reach 783 million. Thus, dry powder inhaler are used to treat diabetes by using insulin powder. Therefore, rising diabetes cases increases the demand of dry powder inhaler devices, which drives the overall dry powder inhaler devices market forward over the forecast period (2022-2027).

Moreover, another key factor which is responsible for the growth of dry powder inhaler devices market is the increasing prevalence of asthma. For instance, according to World Health Organization (WHO) published data in the year 2022, asthma affected 262 million people in 2019 worldwide. Further, dry powder inhaler devices are used to deliver asthma medication to the lungs, thus increasing prevalence of asthma increases the demand for dry powder inhaler devices, which leads to a surge in the dry powder inhaler devices market during the forecast period.

However, lack of awareness about dry powder inhaler devices and disadvantages associated with the devices, can hamper the global dry powder inhaler devices market growth.

The COVID-19 pandemic has positively impacted the market for dry powder inhaler devices, this can be anticipated owing to the severe effects of COVID-19 on lungs and COVID-19 patients that had suffered with respiratory infections as an after effect of COVID-19, as well as shortness of breath as its prevalent symptom, had also contributed to the dry powder inhaler devices demand among COVID-19 patients. Hence, the demand for dry powder inhaler devices will continue to rise in the forecast period from 2022-2027.

Recent Breakthroughs in Dry Powder Inhaler Devices Market:

  • In June 2021, Glenmark Pharmaceuticals Ltd, a research-driven global integrated pharmaceutical company, is one of the first to introduce a bioequivalent version of Tiotropium Bromide dry powder inhaler (DPI) in the United Kingdom under the brand name Tiogiva® for the treatment of chronic obstructive pulmonary disease (COPD).
  • In May 2020, Iconovo, offers the development of inhalation products, has announced that the ICOcapTM dry powder inhaler, which is based on capsules, has received CE approval for use in clinical studies.

Key Players Proactively Working In the Dry Powder Inhaler Devices Market

Some of the key market players operating in the Dry powder inhaler devices market include Boehringer Ingelheim Inc, CHIESI Farmaceutici S.p.A, Cipla Inc (NSE: CIPLA), GSK Group of Companies, Hovione, OPKO Health Inc (NASDAQ:OPK), Teva Pharmaceutical Industries Ltd (TLV: TEVA), Vectura Group Ltd, Radius Innovation & Development, Otsuka Pharmaceutical Co Ltd (OTSKF), RESPIRA THERAPEUTICS INC, MannKind Corporation (MNKD), Pharmaxis Ltd (PMXSF), Stevanato Group (NYSE:STVN), Harro Höfliger Verpackungsmaschinen GmbH, H&T Presspart Manufacturing Ltd, Catalent Inc, Merxin Ltd, Manta Devices LLC, PUREIMS, and among others.

Table of Contents 

1

Report Introduction

2

Executive Summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Dry Powder Inhaler Devices Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Dry Powder Inhaler Devices Market

7

Dry Powder Inhaler Devices Market Layout

8

Dry Powder Inhaler Devices Global Company Share Analysis – Key 3-5 Companies

9

Dry Powder Inhaler Devices Companies and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

 

Media Contact
Company Name: DelveInsight Business Research LLP
Contact Person: Kritika Rehani
Email: Send Email
Phone: 9193216187
Address:304 S. Jones Blvd #2432
City: Las Vegas
State: Nevada
Country: United States
Website: https://www.delveinsight.com/

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