Newark, July 31, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 50.0 billion COPD and asthma devices market will reach USD 89.5 billion by 2032. Chronic obstructive pulmonary disease (COPD) and asthma devices are used to treat respiratory disorders and other related conditions on a long-term or emergency basis. Furthermore, COPD and asthma are respiratory disorders that cause difficulty breathing and blockage of the lungs' airways. Furthermore, the Global Health Organisation (WHO) estimates that there were around 251 million cases of COPD worldwide in 2016. As a result, a number of drug-delivery regimens, such as oral and parenteral administration, are being explored for the treatment of COPD and asthma. However, the pulmonary medication delivery system is the most successful therapy option compared to conventional approaches.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022 to 2032 |
| Base Year | 2022 |
| Market Size in 2022 | USD 50.0 Billion |
| Market Size in 2032 | USD 89.5 Billion |
| CAGR | 6% |
| No. of Pages in Report | 237 |
| Segments Covered | Product Type, Indication |
| Drivers | Rising Respiratory Diseases |
| Opportunities | Rising Usage of Smart Inhalers |
| Restraints | Costly |
North America to account for the largest market size during the forecast period.
North America is expected to have the essential COPD and asthma devices market share. After cancer and heart disorders, COPD is the third most significant cause of death in North America. The biggest contributors to the cause of COPD are lifestyle habits and environmental variables. Cigarette smoking, air pollution, respiratory allergies, and hereditary factors are among the variables that contribute to COPD. Because of its highly advanced market setting, the United States is the largest market for COPD devices, followed by Canada. In addition, GlaxoSmithKline, Novartis, AstraZeneca, and 3M Health Care are prominent participants in the North American COPD and asthma devices market. COPD was the third most significant cause of death in the United States in 2019, trailing only cancer and heart illness.
The inhalers segment dominated the market with the most significant revenue of USD 27.5 billion.
The inhalers segment dominated the market with the most significant revenue of USD 27.5 billion. During the treatment of COPD and asthma, the inhalation route is the quickest and most effective technique for delivering drugs to the respiratory system. Mixture therapy is a treatment in which a mixture of two control drugs is supplied via an inhaler. Furthermore, new inhaler technologies, such as smart inhalers, are a strategy to promote adherence by monitoring drug use based on respiratory problems. It is also recognised that smart inhalers can significantly improve results and minimise treatment costs. In clinical tests, asthma patients utilising smart inhalers had 80% adherence to preventive medicine, with a 61% reduction in oral steroid use.
The asthma segment dominated the market with the most significant revenue of USD 30 billion.
The asthma segment dominated the market with the most significant revenue of USD 30 billion. The US Food and Drug Administration approved the first generic Symbicort (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol in March 2022 for the treatment of two common respiratory health disorders, including asthma, in individuals six years of age and older. Furthermore, Novartis got permission in July 2020 for Enerzair Breezhaler, including the first digital companion (sensor and app) that may be given uncontrolled asthma treatment in Europe.
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Market Dynamics:
Drivers: Growth of Respiratory Diseases
The rise in the prevalence of respiratory diseases such as COPD, asthma, and emphysema, as well as the growing need for rescue medication during an asthmatic attack, are the major factors driving the growth of the COPD and asthma devices market. Furthermore, manufacturers' increased focus on developing innovative, portable inhalation devices and government measures to raise awareness of COPD and asthma symptoms are projected to drive market expansion.
Restraint: Environmental Concerns
Environmental concerns related to metered dosage inhalers (MDI), the high cost of various inhalation devices and therapy, pricing competition, and material quality deterioration are projected to impede market expansion. Furthermore, ineffective reimbursement support and patent expiration for blockbuster pharmaceuticals impede market expansion.
Opportunity: Rising of Smart Inhaler Devices
The increased adoption of smart inhaler devices, which are more intuitive and enhance patient engagement and adherence while boosting treatment effectiveness, is expected to present a lucrative growth potential for the market in the near future.
Challenge: Strict Regulations
Inadequate reimbursement practices and product regulatory clearances are predicted to stymie market expansion.
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Some of the major players operating in the COPD and asthma devices market are:
● GlaxoSmithKline Plc
● Boehringer Ingelheim International GmbH
● 3M COMPANY
● AstraZeneca PLC
● PARI medical Holding GMBH
● Novartis AG
● GF Health Products, Inc.
● Baxter International Inc.
● Aerogen, Inc.
● Smith’s Group Plc
● Koninklijke Philips N.V. (Philips)
Key Segments cover in the market:
By Product Type:
● Inhalers
● Nebulizers
By Indication:
● Asthma
● Chronic Obstructive Pulmonary Disease
About the report:
The global COPD and asthma devices market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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