Steam inhaler devices helps in reducing inflammation and congestion by loosening mucus and making it easier to cough up. Portable steam inhaler devices that can be carried easily anywhere and provide relief from symptoms associated with cold, cough and breathing problems are gaining more popularity.
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 major trends in the steam inhaler devices market includes increasing adoption of portable and handheld steam inhaler devices. Various technological advancements have enabled manufactures to develop compact and lightweight steam inhaler devices that are very easy to use and carry. For instance, Vicks introduced Vicks PocketSteam, a compact and portable steam inhaler which provides relief from nasal and chest congestion within 5-10 minutes. The increased demand for convenient and easy to use devices for on-the-go relief is expected to drive the demand for portable steam inhaler devices.
Strength: Steam inhaler devices provide effective relief from congestion, sinus pressure, and cough associated with cold and flu symptoms. They help break up and thin out mucus, making it easier to clear from the airways.
Weakness: Some users may find steam inhaler devices inconvenient to use as they require boiling water and setting up the device for inhaling steam. Improper use can also cause burns.
Opportunity: Growing awareness about the benefits of steam therapy and rising preference for natural and drug-free therapies present an opportunity for companies in this market. The increasing incidence of respiratory diseases also boosts demand.
Threats: Alternative therapies like essential oils, nasal irrigation systems, and over-the-counter cold/flu medications compete with steam inhalers. Strict regulations and product recalls due to quality issues are other threats.
The global Steam Inhaler Devices market is expected to witness high growth, exhibiting a CAGR of 7.9% over the forecast period, due to increasing preference for drug-free therapies to treat common cold, cough, and nasal congestion.
Regional analysis: North America dominates the global market currently due to advanced healthcare infrastructure and widespread awareness about steam inhalation therapy. Asia Pacific is anticipated to be the fastest growing market owing to rising health consciousness, growth in medical tourism, and improving access to healthcare in developing nations like India and China.
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. Marketing strategies like new product launches, collaborations, and focus on emerging economies will likely aid these companies in gaining greater revenue shares.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it