The North America Inhalation Capsules Market would witness market growth of 5.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Inhalation Capsules Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $332.8 Million by 2031. The Canada market is experiencing a CAGR of 7.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.6% during (2024 - 2031).
Asthma, COPD, and cystic fibrosis are among the respiratory diseases whose prevalence continues to increase due to air pollution, smoking, and an aging population. As per the World Health Organization, chronic obstructive pulmonary disease accounted for 3.23 million fatalities in 2019, placing it as the third leading cause of death. The majority of COPD-related fatalities among individuals aged 70 and below transpire in low and middle-income nations (LMIC). As a result, a growing population requires ongoing management and treatment for respiratory conditions, which drives the demand for inhalation capsules.
Additionally, household air pollution exposure leads to noncommunicable diseases, including stroke, ischemic heart disease, chronic obstructive pulmonary disease (COPD), and lung cancer. Women and children, typically responsible for household chores such as cooking and collecting firewood, bear the greatest health burden from using polluting fuels and technologies in homes. More than 237,000 children under the age of five perished annually due to household air pollution in 2020, according to estimates.
The prevalence of asthma in North America has been on the rise, affecting millions of individuals across the continent. For example, according to the Centers for Disease Control and Prevention (CDC), the percentage of adults aged 18 and older who had asthma was 8.7% in 2022. According to the Department of Health of New York State, in 2021, an estimated 1.4 million adults and over 315,000 children had asthma. Hence, the increasing prevalence of asthma in North America is driving the demand for inhalation therapy, further aiding in the growth of the inhalation capsules market.
Free Valuable Insights: The Inhalation Capsules Market is Predict to reach USD 1.4 Billion by 2031, at a CAGR of 5.9%
Based on Type, the market is segmented into Gelatin Capsules, and Hypromellose Capsules. Based on Application, the market is segmented into Asthma Treatment, COPD Management, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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