The Steam Inhaler Devices Market is estimated to be valued at US$2.5 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
team inhaler devices are used to alleviate respiratory issues like congestion, cough, sinusitis and cold by producing steam that helps clear the nasal passages. These devices work by heating water to produce steam which is then inhaled through a mouthpiece or nasal adapter. Common steam inhaler devices include electric steam inhalers, ultrasonic steam inhalers and steam therapy systems. Steam inhalation has been used for centuries to relieve symptoms of respiratory illnesses and steam inhaler devices provide an easy and portable way to access this treatment method.
Market Dynamics:
One of the major drivers fueling the growth of Steam Inhaler Devices Market Size is rising prevalence of respiratory disorders globally. According to the World Health Organization (WHO), respiratory diseases claim over 4 million lives each year. Conditions like asthma, chronic obstructive pulmonary disease (COPD) are becoming highly common. Steam inhalation provides relief from cough, congestion and other symptoms in such respiratory illnesses. Secondly, steam inhaler devices provide a convenient and drug-free solution to address respiratory issues as compared to medicated inhalers and drugs. This is prompting more people to opt for steam inhalation therapy using portable steam inhaler devices.
Segment Analysis
The steam inhaler devices market is dominated by the portable segment which holds around 60% market share. Portable steam inhalers are compact, affordable and easy to use anywhere. Their increasing popularity can be attributed to the busy lifestyles where people require immediate relief from congestion and runny nose.
PEST Analysis
Political: Regulations around medical device certifications impact entry of new players in the market.
Economic: Average per capita healthcare spending affects demand. Higher disposable incomes boost premium product purchases.
Social: Growing self-medication trend and increasing awareness about steam therapy benefits drive the market.
Technological: Advances in compact designs, compatibility with smart devices and additional features augments demand.
Key Takeaways
The global steam inhaler devices market is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing preference for non-invasive natural remedies. The market size is projected to reach US$ 4.5 Bn by 2030 from US$ 2.5 Bn in 2023.
Regional analysis:
Asia Pacific is projected to be the fastest growing region due to large population base and increasing health awareness. China dominates the regional market owing to traditional use of steam inhalation therapy.
Key players: Key players operating in the steam inhaler devices market are Vicks, MyPurMist, Gurin, Uniclife, HealthSmart, Veridian Healthcare, Vanker, Leica Biosystems, Guardian Technologies, Kaz, Honeywell, Bionix, Invacare, Breathe-ezy, Austin Air Systems, Drive DeVilbiss Healthcare, CareFusion, Cipla, GlaxoSmithKline, PARI Respiratory Equipment. These players are focused on developing innovative products with additional features to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
