Aerosol Delivery Devices Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Aerosol Delivery Devices Market is segmented By Product Type (Dry Powder Inhaler, Metered Dose Inhaler, Soft Mist Inhalers, Nebulizers), By Type (Conventional Inhaler Dev ....
Aerosol Delivery Devices Market Size
Market Size in USD
CAGR5.3%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 5.3% |
| Market Concentration | Medium |
| Major Players | Novartis AG, AstraZeneca, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., CHIESI Farmaceutici S.p.A. |
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Aerosol Delivery Devices Market Analysis
The Global Aerosol Delivery Devices Market is estimated to be valued at USD 33.9 Bn in 2024 and is expected to reach USD 46.5 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The market has been witnessing steady growth over the past few years due to rising prevalence of respiratory diseases such as asthma and COPD. The demand for devices such as metered dose inhalers and dry powder inhalers has increased substantially driven by the growing cases of respiratory disorders worldwide caused by factors including increasing pollution levels, rising smoking rates and aging population. Additionally, technological advancements in aerosol delivery devices focusing on therapeutic efficacy and patient comfort coupled with increasing healthcare expenditures in emerging nations are also contributing to the market expansion. However, availability of alternative routes of drug administration and issues with inhaler technique may hamper the strong growth momentum of this market during the forecast period.