Market Overview:
Steam inhaler devices allow users to inhale steam to help relieve symptoms associated with colds, sinus infections, allergies and other congestion problems. It helps thin out mucus in the nasal passages, sinuses and lungs, making it easier for patients to breathe.
The global Steam Inhaler Devices Market is estimated to be valued at US$ 6,721.4 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the steam inhaler devices market is the increasing adoption of digital therapeutics. Digital therapeutics involve the integration of digital technologies with evidence-based therapeutic interventions for disease prevention, diagnosis, treatment, monitoring and management. Companies are increasingly launching steam inhaler devices that are integrated with mobile applications and digital platforms which help users track treatment progress, monitor symptoms and receive personalized treatment recommendations. For instance, Vicks launched its Vicks portable steam vaporizer connected to the Ear Pick app which allows users to monitor symptoms, track treatments and receive customized guidance for asthma, colds and cough relief.
Segment Analysis
The global steam inhaler devices market is segmented into portable steam inhalers and desktop steam inhalers. The portable steam inhalers segment dominated the market in 2022 and is expected to continue its dominance over the forecast period. Portable steam inhalers offer mobility and ease of use which makes them a preferred choice among consumers. Their compact size allows users to carry them anywhere.
Key Takeaways
The global steam inhaler devices market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing prevalence of respiratory diseases.
Regional analysis
North America dominated the global market in 2022 and is expected to maintain its dominance during the forecast period. Higher awareness regarding steam inhalation therapy and growing respiratory disease burden in the US and Canada drives the market in the region. Asia Pacific is expected to witness fastest growth over the forecast period owing to rising geriatric population, increasing healthcare expenditure and growing pollution levels in major countries like India and China.
Key players
Key players operating in the steam inhaler devices market are Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Perrigo Company plc, Taro Pharmaceutical Industries Ltd., Provectus Biopharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Sanofi, and Mylan N.V.. Merck & Co., Inc. offers Nasonex allergy spray which is used for relief of symptoms from seasonal allergic rhinitis/hay fever.
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