In recent years, the inhalation route has gained importance for the treatment of both pulmonary and extrapulmonary diseases. Delivery of drugs or bioactive molecules through this route has great potential for achieving maximum therapeutic effect, and many effective inhalation devices have been developed. A wide range of aerosol delivery devices are available in the marketplace for the treatment and management of pulmonary diseases, such as asthma, chronic obstructive pulmonary disease (COPD); many others are currently under development. Various advancements and innovations have improved the performance and efficiency of existing aerosol delivery devices. In this article, we review these inhalation devices (i.e., nebulizers, metered-dose inhalers, and dry powder inhalers) and the recent advances in inhalation technology that have significantly impacted the treatment and potential cure of many acute as well as chronic diseases.