“Global Inhalation Capsules Market to reach a market value of USD 1.4 Billion by 2031 growing at a CAGR of 5.9%”
The Global Inhalation Capsules Market size is expected to reach $1.4 billion by 2031, rising at a market growth of 5.9% CAGR during the forecast period.
Several factors contribute to the high prevalence of asthma in the U.S., including air pollution, allergens, tobacco smoke, and obesity. Urban areas, particularly in the Northeast and Midwest, have higher asthma rates due to higher air pollution and allergens. Consequently, the North America region generated USD 312.7 million revenue of the market in 2023. Moreover, the region has high healthcare spending, allowing patients better access to advanced treatment options, including inhalation capsules.
Technological advancements have resulted in the development of inhalation devices that are easier to use and more intuitive for patients. Features such as one-click mechanisms, ergonomic designs, and simplified instructions make inhalation devices more user-friendly, improving patient adherence and satisfaction. Advanced inhalation devices incorporate mechanisms to ensure precise and consistent medication dosing. Therefore, as these technological advancements evolve, the market is expected to expand further.
Additionally, as healthcare infrastructure improves and access to medical services increases, a growing demand for effective and convenient treatment options for respiratory diseases drives the demand for inhalation capsules. For example, in countries like China and India, where the healthcare industry is rapidly expanding, there is a significant increase in the prevalence of respiratory diseases due to factors such as air pollution and smoking. Hence, the substantial expansion of the healthcare industry globally has created a conducive environment for the growth of the market.
However, Inhalation capsules deliver medication directly to the lungs, but some amount of the drug may enter the bloodstream and cause systemic side effects. These side effects can include cardiovascular effects, changes in blood pressure, or alterations in metabolic parameters. Particularly with prolonged use or high doses, patients and medical professionals may be concerned about the potential for systemic adverse effects associated with inhalation therapies. Hence, these factors may hamper the market's growth.
Furthermore, the COVID-19 pandemic reshaping demand dynamics, supply chains, and healthcare delivery methods. With the heightened focus on respiratory health during the pandemic, there was an increased demand for medications delivered via inhalation capsules, driven by patients seeking to manage respiratory conditions such as asthma and COPD. Thus, the pandemic had an overall positive impact on the market.
On the basis of application, the market is classified into asthma treatment, COPD management, and others. The asthma treatment segment procured 48.5% revenue share in the market in 2023. Asthma treatment within the market encompasses a wide range of medications and delivery devices tailored to manage the symptoms and underlying inflammation associated with this chronic respiratory condition. Inhalation therapy is considered the cornerstone of asthma management because it delivers medications directly to the lungs, resulting in rapid onset of action, targeted treatment, and reduced systemic side effects.
Based on type, the market is characterized by gelatin capsules and hypromellose capsules. In 2023, the hypromellose capsules segment recorded a 38.2% revenue share in the market. Hypromellose capsules, also known as hydroxypropyl methylcellulose (HPMC) capsules, are gaining within the market. HPMC capsules offer several key benefits that make them well-suited for inhalation therapy. This versatility enables pharmaceutical companies to develop inhalation capsules containing various active pharmaceutical ingredients, catering to the specific needs of patients with different respiratory conditions.
Free Valuable Insights: Global Inhalation Capsules Market size to reach USD 1.4 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region held a 29.3% revenue share in the market in 2023. Europe is a leader in healthcare technology, leading to the development of advanced inhalation devices and formulations that drive market growth. Patients and healthcare professionals alike are well-informed regarding the advantages of inhalation therapy, which is propelling market expansion. Moreover, Europe has a favorable regulatory environment for developing and commercializing inhalation capsules, encouraging market growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 870.1 Million |
| Market size forecast in 2031 | USD 1.4 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.9% from 2024 to 2031 |
| Number of Pages | 182 |
| Number of Tables | 250 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Cipla Limited, Novartis AG, AstraZeneca PLC, Boehringer Ingelheim International GmbH, Lonza Group Ltd. (Capsugel), Chiesi Farmaceutici S.p.A, Vectura Group Plc (Philip Morris International, Inc.), Elpen S.A., Healthcaps India Ltd., Qualicaps Co., LTD. (Roquette Freres SA) |
By Type
By Application
By Geography
The Market size is projected to reach USD 1.4 billion by 2031.
Rising Proportion of The Geriatric Population are driving the Market in coming years, however, Potential Side Effects and Safety Concerns restraints the growth of the Market.
Cipla Limited, Novartis AG, AstraZeneca PLC, Boehringer Ingelheim International GmbH, Lonza Group Ltd. (Capsugel), Chiesi Farmaceutici S.p.A, Vectura Group Plc (Philip Morris International, Inc.), Elpen S.A., Healthcaps India Ltd., Qualicaps Co., LTD. (Roquette Freres SA)
The expected CAGR of this Market is 5.9% from 2024 to 2031.
The Gelatin Capsules segment is leading the Market by Type in 2023 thereby, achieving a market value of $823.7 Million by 2031.
The North America region dominated the Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $464.4 Million by 2031.
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