Newark, NJ, Jan. 31, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global asthma spacers market is expected to grow from USD 1.44 billion in 2017 to USD 2.05 billion by 2025 at a CAGR of 4.14% during the forecast period 2018-2025.
The growing demand for respiratory care across the globe is one of the key contributing factors in the global asthma spacer market. Pollution, allergy, and smoking can result in several respiratory diseases such as obstructive airway diseases such as asthma, COPD, and cystic fibrosis. The asthma spacer helps in relieving symptoms by enabling drug delivery directly into the lower airways for either systemic or topical effect. Healthcare practitioners and pharmacists recommend asthma spacers to patients taking Inhaler therapy for uncontrolled asthma, as these devices improve hand-breath coordination while reducing the side effects of inhaled medication.
Asthma is a chronic respiratory condition. It affects millions of people around the world. Inhalation is used as the first line of management in asthma management. Metered-dose inhalers (MDIs) are the most common type of inhalers used in asthmatic conditions and aerosol drug delivery is the first line route of administration in asthma management. Spacers with metered-dose inhalers are used to treat several respiratory diseases such as obstructive pulmonary disease (COPD) asthma and chronic cystic fibrosis.
Global asthma spacers market is expected to witness rapid growth over the forecast period, owing to the growing demand for respiratory care across the globe. In addition to this, the key contributing factor for market growth is the increasing prevalence of asthma cases, government initiatives to reduce the number of cases of asthma and growing awareness in the emerging countries. However, high-quality standards set up by top players are hampering the growth of small players. Moreover, poor inhalation techniques have led to poor disease control, which in turn has increased health care costs.
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Key players operating in the global asthma spacers market include Medical Development International, Cipla, Lupin, trudell Medical International, Pari Gmbh, GlaxoSmihKline plc, Clement Clarke, AstraZeneca, Merck & Co., Fisons, 3M, Aristopharma Ltd., SRS PHARMACEUTICALS PVT. LTD., Intas Pharmaceuticals, Ltd., among others. To enhance their market position in the global asthma spacers market, the key players are now focusing on adopting the strategies such as recent developments, mergers & acquisitions, product innovation, joint venture, collaborations, and partnership.
- For instance, For instance, in 2018, Cipla opened an inhaler manufacturing plant in the Rabat region. This unit will offer an annual production capacity of 1.5 million HFA metered-dose inhalers.
- In May 2017, Lupin Limited announced a partnership between its American subsidiary, Lupin Pharmaceuticals, Inc. (Lupin) and Albertsons Companies, to provide Lupin's InspiraChamber, a valved holding chamber for the enhanced delivery of inhaled aerosol therapies, to patients in it’s over 1,700 pharmacies in 35 states.
The aerochamber segment is dominating the asthma spacers market with largest share of 38.31% in 2017
The product segment is classified into optichamber, volumatic, aerochamber, and inspirease. The aerochamber segment is dominating the asthma spacers market with largest share of 38.31% in 2017. Aerochamber helps to use metered dose inhaler (MDI), to get medicine directly into the lungs where it is needed. Aerochamber allows the medicine to work quicker than the same type of medicine taken by pill or liquid form. Wide usage of aerochambers in asthma management has led to the growth of the segment. Technological developments in aerochambers are further contributing for the growth of the market.
The e-commerce segment is expected to expand at the highest CAGR of 5.07% in the forecast period
Distribution channel segment includes retail pharmacy, hospital pharmacy, and e-commerce. The e-commerce segment is expected to expand at the highest CAGR of 5.07% in the forecast period. The increasing in online retailing of asthma spacers, is one of the key trend in the market. Rising number of internet users and as compared to retail and hospital pharmacies availability of asthma spacers at a discounted price online are the key factors to drive the demand of the segment. Owing to the ease of shopping offered by online shopping and discounted price offered by online retail stores, further boosting the growth of market. Many international and domestic vendors of asthma spacers are selling their asthma spacers through online websites such as eBay and Amazon.
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Regional Segment Analysis of the Asthma Spacers Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global asthma spacers market with USD 835.20 million in 2017. This is mainly attributed to the factors such as high healthcare spending, advanced healthcare facilities, and various government initiated program for healthcare, driving the growth of market in this region. In addition to this, Asia Pacific region is expected to grow at highest CAGR in the global asthma spacer, over the forecast period. Growing awareness about advanced healthcare facilities, and rising healthcare expenditure are the key contributing factors for the growth of market in the Asia Pacific region. In addition to this, low cost of manufacturing of asthma spacers is encouraging the companies to open the more production facilities in emerging countries. Furthermore, Europe is expected to hold the significant market share in the global asthma spacer market, owing to increasing adoption of asthma spacer across the region.
About the report:
The global asthma spacers market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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