Market Trends of Global Asthma and COPD Devices Industry
This section covers the major market trends shaping the Asthma & COPD Devices Market according to our research experts:
The Asthma Segment is Expected to Hold a Major Market Share in the Asthma and COPD Devices Market
Asthma is a major noncommunicable disease (NCD), affecting both children and adults, and is the most common chronic disease among children. In the United States, asthma is more common in adult women than adult men. According to the Centers for Disease Control and Prevention 2020 report, in the United States, approximately 25 million Americans have asthma. This equals to about 1 in 13 Americans, including 8% of adults and 7% of children. About 20 million United States adults aged 18 years and over have asthma. Also, according to the Asthma and Allergy Foundation of America (AAFA), in 2021, roughly 1 in 13 Americans had asthma, which is about 25 million people. As per the same source, about 5 million American children have asthma.
The growing prevalence of asthma worldwide, coupled with the activities of government organizations and NGOs in creating awareness and companies' R&D activities in advancing asthma device technologies, are some of the factors boosting the segment's growth. For instance, in March 2022, the United States Food and Drug Administration approved the first generic of Symbicort (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol for the treatment of two common pulmonary health conditions, including asthma in patients six years of age and older. Moreover, in July 2020, Novartis received approval for Enerzair Breezhaler, including the first digital companion (sensor and app) that can be prescribed alongside treatment for uncontrolled asthma in Europe.
Thus, these aforementioned factors are collectively driving the growth of the segment throughout the forecast period.
North America is Expected to Hold a significant share in the Market and is Expected to do Same in the Forecast Period.
The North American asthma and COPD market are anticipated to have a significant share of the global market owing to the increasing burden of asthma and COPD coupled with well-established healthcare infrastructure and rising awareness. As per the government of Canada, chronic obstructive pulmonary disease (COPD) affected 453,700 and 488,100 people in 2019 and 2020, which is 7.2% and 7.5% of the total population, respectively. Also, as per the Office of Disease Prevention and Health Promotion (ODPHP) 2020, more than 25 million people in the United States have asthma, and approximately 14.8 million adults have been diagnosed with COPD.
As per the Asthma and Allergy Foundation of America (AAFA), on average, 11 people in the United States die from asthma each day. The same source further stated that in 2020, 4,145 people died from asthma. Almost all of these deaths could be prevented with the proper treatment and care. Asthma-related deaths increased for the first time in 20 years in 2020. As per the Illinois Department of Central Management Services, 2022, annual direct costs per patient in the United States are more than USD 3,000. Due to the high death rates associated with asthma and increasing investment in asthma treatment in this country, the market is expected to show significant growth in the future. Furthermore, the presence of key market players and the advancement of product technologies are fuelling the region's market growth. For instance, in March 2021, in Mexico and the United States, AstraZeneca PLC started a Phase III clinical trial to assess the efficacy and safety of budesonide/glycopyrronium/formoterol inhalers in adults and adolescents with severe asthma inadequately controlled with the standard of care. The trial is expected to be completed in September 2023.
Thus, the aforementioned factors are expected to drive the market's growth over the forecast period.
