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Because asthma affects so many people worldwide, the asthma products industry is driven. As asthma rates climb worldwide, more individuals prefer simple asthma treatments. This impacts market growth.
The asthma product industry is driven by rapid breathing device technology advancements. Innovative products like smart inhalers, nebulizers with improved delivery methods, and user-friendly designs are transforming the industry.
Programs that educate consumers and healthcare staff about asthma impact the market. People are learning how vital it is to use devices appropriately, follow treatment programs, and recognize symptoms early, which boosts asthma device sales.
Air pollution and allergens increase asthma prevalence. As pollution rises, more individuals use breathing devices to manage their symptoms and feel better.
Number of asthmatic kids is a market element. Kids' asthma problems fuel the demand for age-appropriate inhalers and nebulizers, changing the market.
Government lung health initiatives and legislation impact the asthma product industry. Supportive legislation, financing, and public health activities make breathing equipment more inexpensive and accessible, changing market patterns.
The market is impacted by patient demand for small, easy-to-use devices. Small, portable, and easy-to-use inhalers and nebulizers are preferred by asthmatics. This affects asthma gadget development and popularity.
Biologics and specialized therapy impact asthma products. Targeted medications and biologics for particular asthma types vary the devices required for therapy.
The market depends on the healthcare system and treatment facility accessibility. Different healthcare access levels affect asthma product market trends. This is because certain locations lack amenities.
Research & development and new breathing products modify the market. Businesses get a competitive advantage by investing in innovative, valuable goods, which grows the market.
People with COPD or allergic rhinitis impact the asthma product industry. various common respiratory illnesses may need various devices for treatment.
Patients' treatment compliance and behavior impact the market. Easier-to-use devices with clear instructions and features that promote treatment compliance improve asthma management and boost demand.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 4.7% |
Asthma Devices Market Highlights:
Global Asthma Devices Market Overview
Asthma Devices Market Size was valued at USD 4.00 Billion in 2023. The Global Asthma Devices industry is projected to grow from USD 4.21 Billion in 2024 to USD 7.45 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.89% during the forecast period (2024 - 2032).Asthma is a chronic inflammatory lung disease that narrows the airways. Asthma causes recurring periods of wheezing, chest tightness, shortness of breath, and coughing. Mostly, the symptoms associated with asthma are short-lived and can be easily treated. Asthma inhalers are medical devices which deliver medication into the body via the lungs, thereby, treating asthma and chronic obstructive pulmonary disease. Increasing prevalence of asthma is one of the major drivers for the market growth.
According to the World Health Organization in 2017, approximately 235 million people suffered from asthma. Moreover, it was estimated that in 2015, the disease killed approximately 383 million patients around the globe. Additionally, rising healthcare expenditures and increasing awareness fuel the market growth. However, long treatment procedures and low per capita income followed by lack of favorable reimbursement policies in the developing countries will restrain the market growth during the forecast period.
The UK-based medical device company Acurable disclosed this in October 2022, saying it was helped to raise $10.8 million by its lead investor for the round, Kibo Ventures. The firm will use the funding to speed up AcuPebble SA100, which is a home-based sleep diagnostic tool that helps identify and track obstructive sleep apnea cases around the world. Moreover, Acurable would develop new drugs for cardiovascular diseases, asthma and COPD.
Adherium Limited has partnered with Trudell Medical Limited in August 2022 to treat U.S. patients with COPD.
A US$350 million Series A funding round was won by Arteria Therapeutics, a biotechnology company committed to helping asthmatics live normal lives in July of 2022. This money was expected by the company to fund phase 3 trials for a new asthma candidate that is said to have biologic-like efficacy in treating asthma through oral delivery.
Alkem launched Innohaler, a DPI device in March 2022 with an aim of improving comfort living for Asthma and COPD (Chronic Obstructive Pulmonary Disease) patients and narrowing the existing gaps in Asthma care across India. The introduction of this device marks Alkem’s entry into core inhalation treatments where it expects better medication will reach the lungs with every inhalation due to increased patient awareness and adherence program.
Life Wellness Healthcare announced an update on their online store that allows individuals with chronic obstructive pulmonary disease (COPD) be able to reduce their symptoms at home as of January 2022. Payment plans are available when purchasing AirPhysio devices, which are now ready for shipment throughout the United States.
For example, in March 2022, the US Food and Drug Administration approved Symbicort Inhalation Aerosol’s first generic version for treating two common pulmonary conditions, including asthma, among six-year-old and older patients.
For example, a Phase III clinical trial evaluating budesonide/glycopyrronium/formoterol inhalers effectiveness and safety among adults and adolescents who suffer from severe asthma and are inadequately controlled with the standard of care was initiated in March 2021 by AstraZeneca PLC in Mexico and the United States. The trial is expected to be completed in September 2023.
Asthma Devices Market Segment Insights
The global asthma devices market is segmented on the basis of type, technology, and end users.
Asthma Devices Type Insights
On the basis of the type, the market is segmented into inhalers, nebulizers, and others. The inhalers segment is sub-segmented into metered-dose inhalers and dry powder inhalers. The metered-dose inhalers segment, by inhalers, is further categorized into standard pressurized metered-dose inhalers, breath-activated pressurized metered-dose inhalers, metered-dose inhalers with a spacer, and others. The nebulizers segment is sub-segmented into compressor nebulizers, ultrasonic nebulizers, mesh nebulizers, and others.
Asthma Devices Technology Insights
On the basis of technology, the asthma devices market is segmented into manually operated inhaler devices, digitally operated inhaler devices, and others.
Asthma Devices End-User Insights
On the basis of end users, the market is segmented into hospital, clinics, retail pharmacies, and others.
Asthma Devices Regional Insights
The Americas dominate the global asthma devices market owing to a well-developed healthcare sector and huge patient population for asthma diseases. According to the Centres for Disease Control and Prevention, in 2015, approximately, 7.8% of the total population in the U.S. was identified for the presence of asthma. Moreover, changing lifestyle and increasing healthcare expenditure fuels the market growth. Additionally, the presence of global players like Merck & Co., Inc. and Baxter, and others boost market growth during the forecast period.
Europe is the second largest asthma devices market owing to a well-developed healthcare infrastructure and huge patient population. Moreover, government support for research & development and rising healthcare expenditures fuel the market growth. According to a study published in the Asthma Research and Practice journal in 2017, the yearly estimated cost for all the asthmatics per patient is about USD 1,900. Additionally, the presence of the developed economies like the U.K, Germany, and France within the region boosts the market growth.
Asia Pacific is the fastest growing region in the global market due to the presence of a huge patient population and continuously developing economies like India and China. According to a study of the Indian Chest Society in 2015, 300 million people suffered from asthma worldwide and about a tenth of its share is in India. Moreover, as per the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.8% and reach USD 280 billion by 2020. Moreover, favorable government policies like reduced excise and customs duty followed by the exemptions in service tax along boosts the market growth.
On the other hand, the Middle East & Africa holds the least share of the global asthma devices market due to the presence of poor economy, especially within the African region. The absence of the developed healthcare sector and stringent government policies restrain the market growth within the African region. Majority of the market within the region is held by the Middle East due to huge healthcare expenditures.
Key players for Asthma Devices Market
- GlaxoSmithKline plc. (Europe)
- Merck & Co., Inc. (U.S.)
- 3M (U.S.)
- Aristopharma Ltd. (Asia Pacific)
- SRS PHARMACEUTICALS PVT. LTD. (Asia Pacific)
- AstraZeneca (Europe)
- Baxter. (U.S.)
- Boehringer Ingelheim GmbH (Europe)
- Koninklijke Philips N.V. (Europe)
Intended Audience
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Pharmaceutical Companies
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Biotechnological Institutes
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Research and Development (R&D) Companies
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Medical Research Laboratories
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Market Research and Consulting Service Providers
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