Increase in price competition and deterioration of material quality, overall high cost of asthma treatment is a challenge for the patients, and incompetent reimbursement support impede the growth to certain extent. Conversely, patent expiration for blockbuster drug and smart Inhalers are anticipated to create lucrative opportunities for the key players in the industry.
The global COPD and asthma devices market is expected to reach $51,628.58 million by 2027, registering a CAGR of 4.30% during 2020-2027.
Asthma is respiratory condition marked by attacks of spasm in the bronchi of lungs, causing difficulty in breathing. It is usually connected to allergic reactions or other forms of hypersensitivity. COPD is a group of respiratory diseases, in which there is constriction of airways and difficulty or discomfort in breathing.
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COVID-19 impact-
- The demand for respiratory care devices including inhalers has been increased during Covid-19. Also, the international regulatory agencies have accelerated approval of several respiratory devices.
- The global lockdown has disrupted the supply chain badly and as a result, the manufacturing process has also been severely hampered.
- However, government bodies across the world have imposed certain relaxations to ease up the existing regulations and the global market is projected to retrieve its position soon.
The asthma and COPD can be prevented and treated with drugs such as corticosteroids, short-acting beta agonists, and anticholinergic drugs. In the acute asthmatic attack, patient feels difficulty to breathe due to sudden narrowing of bronchi, generally due to allergens. In acute asthmatic attack, bronchodilators give quick relief and can be life saving for patients.
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North America garnered the major share in 2019 –
Based on geography, North America garnered the largest share in 2019, holding more than one-third of the global COPD and asthma devices market. This is owing to the widespread and early adoption of inhalers & nebulizers and large pool of patients suffering from respiratory diseases in this region. However, the region across Asia-Pacific would portray the fastest CAGR of 5.0% by 2027, due to rise in healthcare expenditure, growth in awareness of advanced portable COPD & asthma devices, and increase in disposable income in Asia-Pacific region.
Leading market players analysed in the research include
- GF Health Products
- GlaxoSmithKline Plc
- Koninklijke Philips N.V.
- Novartis AG
- PARI medical Holding GMBH
- Smith’s Group Plc.
- Aerogen, Inc.
- AstraZeneca PLC
- Baxter International Inc.
- Boehringer Ingelheim International GmbH
- 3M COMPANY
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