The global Steam Inhaler Devices Market is estimated to be valued at US$ 6,721.4 Mn in 2024 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. Steam inhaler devices are widely used for respiratory treatments such as common cold, sinusitis, bronchitis and asthma attacks. These devices help deliver moist heat directly to nasal passages and lungs, reducing congestion and loosening mucus. The increasing prevalence of respiratory diseases across the globe has raised the need for effective treatment options like steam inhalers.
Market key trends:
The growing prevalence of respiratory diseases is one of the major factors fueling the growth of the steam inhaler devices market. According to the World Health Organization (WHO), respiratory diseases accounted for over 8 million deaths globally in 2019. Conditions such as asthma, chronic obstructive pulmonary disease (COPD), and pneumonia are resulting in rising healthcare burden. For instance, the Centers for Disease Control and Prevention (CDC) estimates that over 25 million Americans currently suffer from asthma. Adoption of steam inhalers for quick and effective relief from respiratory symptoms without any side effects is expected to drive their demand significantly over the forecast period. Manufacturers are increasingly focused on developing innovative steam inhalers with improved functionality to capitalize on this growing market opportunity.
SWOT Analysis
Strength: Steam inhaler devices are easy to use and provide efficient, drug-free relief for respiratory issues like congestion. Their heat helps loosen mucus.
Weakness: These devices require frequent refills of water to generate steam. The steam produced may not be hot enough for severe congestion.
Opportunity: Growing consumer preference for natural and drug-free remedies creates scope to promote steam inhaler devices as an alternative to medications for mild respiratory symptoms.
Threats: Over-the-counter medications and prescription drugs offer quick and targeted relief, limiting wider adoption of steam inhalers. strict regulations on medical devices also pose challenges.
Key Takeaways
The global steam inhaler devices market is expected to witness high growth.
Regional analysis: Asia Pacific dominates the market and is projected to grow at the fastest rate during the forecast period. Rising pollution levels and changing lifestyles have increased respiratory ailments in the region.
Key players operating in the steam inhaler devices market are Vicks, Nasonex, Beurer GmbH, and ArroHealth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
