Fluticasone Propionate Inhalers Market Size, Share, Growth, and Industry Analysis by Type (60 Metered Sprays, 120 Metered Sprays, 150 Metered Sprays), by Application (Kids, Adults), and Regional Forecast to 2032

Updated On: 29 April 2024

FLUTICASONE PROPIONATE INHALERS MARKET REPORT OVERVIEW

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The global fluticasone propionate inhalers market size was USD 4044.74 million in 2021 and the market is projected to touch USD 2560.89 million by 2032, exhibiting a CAGR of -4.07% during the forecast period.

Fluticasone propionate inhalers are a type of medication used to treat asthma and allergic rhinitis. They contain a steroid called fluticasone propionate, which helps to reduce inflammation in the lungs, allowing for easier breathing and improved symptom aid. This medication is used for both long-term and short-term treatment for respiratory conditions.  The increasing awareness about the benefits of early diagnosis and treatment of respiratory conditions, tied with advancements in healthcare infrastructure is contributing to the growth of the market. Investment in R&D for more effective or safer treatments can lead to the development of new products, influencing the market dynamics.

Inhaler devices are witnessing technological advancements, which are resulting in enhanced patient compliance rates. Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

Use Of Innovative Products To Boost The Market Growth

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

FLUTICASONE PROPIONATE INHALERS MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into 60 metered sprays, 120 metered sprays, 150 metered sprays.

60 metered sprays will capture the maximum market share through forecast period.

60 Metered Sprays are a unit used for measuring the amount of liquid that can be dispensed from an asthma inhaler. It is also known as the metered-dose inhaler (MDI) or flow meter. The 60-meter spray acts as a propellant and helps in delivering the medication to the patient’s lungs.

120 metered sprays is a unit used for measuring the amount of liquid dispensed by metering pumps. It consists of two parts, namely 120 ml and a spray handle. The 120 ml part can be filled with any liquid such as nasal irrigation solution, sterile water, or other liquids that are to be administered via inhaler device.

150 Metered Sprays in Fluticasone Propionate Inhalers are equivalent to approximately 100 mcg of fluticasone propionate. This type of inhaler usually delivers a metered dose of 50 mcg per spray, so 150 metered sprays would be equivalent to 7.5 milligrams of fluticasone propionate.

• By Application Analysis

According to application, the market can be segmented into kids, adults.

Fluticasone propionate inhalers market players cover segment as kids will dominate the market share during forecast period.

Kids typically require lower doses of medication, and inhalers used by kids often have specific dosage and delivery mechanisms suited to their needs. Asthma is one of the most common chronic diseases in children, driving the demand for paediatric asthma management solutions, including Fluticasone Propionate Inhalers.

Adults usually require higher doses of medication, and inhalers are formulated accordingly. In adults, lifestyle factors such as smoking, occupational hazards, and environmental pollution can exacerbate respiratory conditions, thereby influencing the demand for inhalers.

DRIVING FACTORS

Increasing Prevalence Of Respiratory Diseases To Boost The Market Growth

Increasing pollution levels and lifestyle changes that contribute to respiratory problems can lead to higher demand for asthma treatments. The rising incidence of asthma, COPD, and allergic rhinitis globally drives the demand for effective treatment options like Fluticasone Propionate Inhalers.

Technological Advancement and Innovation To Upsurge The Market

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the fluticasone propionate inhalers market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Innovations in inhaler devices, such as improved drug delivery systems and smart inhalers with adherence tracking, can boost the market.

RESTRAINING FACTOR

High Cost To Hamper The Market Growth

High cost is hampering development of the fluticasone propionate inhalers market. The high cost of these medications and the availability of alternative treatment options could hinder market growth. Worldwide pandemics or geopolitical issues that disrupt supply chains can impact the availability and cost of inhalers. Technical difficulties will reduce the industry revenue.

FLUTICASONE PROPIONATE INHALERS MARKET REGIONAL INSIGHTS

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North America to Dominate the Region Due To Increasing About Asthma Management

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

North America is further expected to witness growth in the fluticasone propionate inhalers market share. The region is dominating the market due to the increasing awareness about asthma management, high disposable income, well-established healthcare infrastructure, and favourable reimbursement policies & regulatory reforms in this region. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

Key Players Focus On Partnerships To Gain Competitive Advantage

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• GSK (U.K.)
• Akorn (U.S.)
• Teva (Israel)
• Wockhardt (India)
• Apotex (Canada)

INDUSTRIAL DEVELOPMENT

April 2023: Apotex Inc. is pleased to announce that it has received a Drug Shortage Assistance Award from the U.S. Food and Drug Administration (FDA) in recognition of the company’s substantial efforts to resolve a shortage of varenicline tablets.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.