Steam Inhaler Devices Market: Introduction
- Steam inhaler devices are small handheld devices that deliver a fine, humid mist to the nasal passages. Steam inhalation is a vital treatment for cold, flue, cough, sinus congestion, etc. Steam inhalers can release humidity directly into the sinuses and lungs of the user.
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Key Drivers and Opportunities of Global Steam Inhaler Devices Market
- Steam inhalation is a widely used home remedy to obtain relief from the symptoms of sinus infection and cold. Inhalation therapy has been employed for thousands of years, and it is a prominent option for lung diseases such as chronic obstructive pulmonary disease (COPD), asthma, cystic fibrosis, etc. Thus, an increase in number of patients with the lung diseases mentioned above is fueling the demand for the steam inhaler devices and consequently, driving the market. For instance, according to World Health Organization, globally, more than 339 million people are living with asthma and approximately 80% of deaths due to asthma occur in low and middle income countries.
- Steam inhaler devices are also employed to improve skin texture, luster, and skin elasticity. Thus, a surge in use of steam inhaler devices for beauty care purposes and an increase in beauty care expenditure are key factors boosting the market. Moreover, a rise in standard and quality of life, surge in awareness about convenience, and technological advancements are anticipated to drive the market.
- In March 2020, World Health Organization was first declared a COVID-19 infection pandemic, the list of symptoms included fever, dry cough, and shortness of breath. A wide range of heat-based interventions can be utilized along with other personal hygiene measures to aid in overcoming COVID-19; however, but currently there are no clinical protocols for using heat in the treatment of COVID-19.
- Rise in prevalence and awareness about respiratory diseases and government initiatives in developing countries offer lucrative opportunities in the global market. For instance, according to World Health Organization (WHO), in 2016, globally, 235 million people were affected with asthma, out of them 15–20 million people were from India.
North America to Capture Major Share of Global Steam Inhaler Devices Market
- North America is expected to account for a major share of the global steam inhaler devices market due to the presence of key market players. Moreover, early adoption of technologically advanced products is anticipated to propel the market in the region.
- The steam inhaler devices market in Asia Pacific is projected to expand at a rapid pace during the forecast period owing to a rise in cases of COPD and Asthma. For instance, according to an article published in International Journal of Chorionic Obstructive Pulmonary Disease in China, the prevalence rate of COPD was higher in men, and it was more prevalent in rural areas. Moreover, an increase in the demand for skin care products and a rise in awareness about homecare products are key factors that are likely to augment the market.
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Key Players Operating in Global Steam Inhaler Devices Market
The global steam Inhaler devices market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for steam Inhaler devices has increased in emerging as well as developed markets owing to a rise in prevalence of lung diseases. Growth strategies adopted by leading players are likely to drive the global steam Inhaler devices market.
Major players operating in the global steam Inhaler devices market are:
- MyPurMist N.A
- CONSOLE INDUSTRIES
- Advin Health Care
Global Steam Inhaler Devices Market: Research Scope
Global Steam Inhaler Devices Market, by Type
Global Steam Inhaler Devices Market, by Application
- Health & Wellness
- Cold & Congestions
- Chronic Obstructive Pulmonary Disease (COPD)
Global Steam Inhaler Devices Market, by End-user
- Hospitals & Wellness Center
- Beauty Clinics
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.