Market Size of Global Asthma Spacers Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.40 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Asthma Spacers Market Analysis
The asthma spacers market is expected to register a CAGR of 6.4% over the forecast period, 2022-2027.
The asthma spacers market is likely to grow even faster because of the COVID-19 crisis. Additionally, the threat will have a long-term influence on governments and regulatory agencies in terms of future pandemic preparedness. Because of the rising number of COVID-19 cases with respiratory symptoms, demand for asthma spacers has skyrocketed, and many patients have suffered acute respiratory disease syndrome (ARDS). Also, people with asthma (PWA) are at high risk of serious illness from COVID-19. Many regulatory bodies that regulate medical devices are reducing import limits, in addition to accelerating registration processes for required goods, all to ensure that laws do not restrict the development or supply of devices that could save lives. For instance, the United States Environmental Protection Agency (EPA) states that May is Asthma Awareness Month which has been created to raise awarness regarding the disease. Furthermore, awareness programs and well-coordinated asthma management programs, which are likely to have a positive impact on the adoption of asthma spacers due to precautionary measures which will eventually drive the asthma spacers market up to a certain extent globally.
Further, the increasing prevalence of chronic respiratory condition, growing awareness about the benefits of Spacers, and rising investments by public and private organizations in research and development activities for product innovation are among the major factors driving the growth of the studied market. Chronic respiratory disorders are among the most common non-communicable diseases worldwide because of the presence of noxious environmental, occupational, and behavioral inhalational exposures. According to the World Health Organization (WHO) asthma affected an estimated 262 million people in 2019 and caused 4,55,000, deaths. Such factors are likely to boost the adoption of asthma spacers devices, thereby contributing to the studied market growth.
According to the Asthma and Allergy Foundation of America (AAFA), in 2020 asthma affects over 25 million Americans. In 2019, about 20 million U.S. adults aged 18 and older have asthma. On average, 11 people in the U.S. die from asthma each day. As per the same source mentioned above in 2020, 4,145 people died from asthma. All of these deaths are avoidable with the right treatment and care. People with asthma may need to use their inhalers every day. Using a spacer device makes it easier to use an aerosol inhaler and helps the medicine reach the lungs more effectively. Therefore, the adoption of asthma spacer devices is poised to accelerate the asthma spacer market globally and is expected to increase in the future, thereby driving the growth of the studied market over the forecast period.
In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the market studied. For instance, in December 2019, as per the JOJ Nursing & Health Care, inhaled short-acting bronchodilators are the most used first-line medications used to treat exacerbations of wheezing or asthma. Additionally, in March 2021, Philip Morris announced a deal to buy Vectura at an enterprise value of USD 1.2 billion. The acquisition will accelerate Philip Morris Internationa (PMIs) beyond nicotine strategy and expand its product pipeline development capabilities in inhaled therapeutics. Thus, owing to the product launches and acquisitions, the studied market is expected to have significant growth over the forecast period.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, rising costs of these devices and a lack of awareness among people about the product. is likely to impede market growth.
Asthma Spacers Industry Segmentation
As per the scope of the report, Asthma spacers are an external device that increases inhalation and actuation to improve drug delivery. Spacers help in administrating the right amount of medicine to the lungs when used along with the metered dose inhaler (MDI). The use of an asthma spacer helps to reduce medicine waste and limits the occurrence of dose-related side effects. The asthma spacers market is segmented by Product Type (Aerochambers, Optichamber, Volumatic, and Inspirease), Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and E-commerce), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
By Product Type | |
Aerochamber | |
Optichamber | |
Volumatic | |
Inspirease |
By Distribution Channel | |
Retail Pharmacy | |
Hospital Pharmacy | |
E-Commerce |
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Global Asthma Spacers Market Size Summary
The asthma spacers market is poised for significant growth, driven by an increasing prevalence of chronic respiratory conditions and heightened awareness of the benefits of spacer devices. The market is experiencing accelerated demand due to the COVID-19 pandemic, which has underscored the importance of effective respiratory management. Regulatory bodies are facilitating the market's expansion by streamlining import limits and registration processes for medical devices, ensuring that life-saving products are readily available. The market is further bolstered by rising investments in research and development, leading to product innovation and improved asthma management programs. These factors collectively contribute to the anticipated growth of the asthma spacers market over the forecast period.
North America is expected to dominate the asthma spacers market, supported by the availability of advanced technological products and increased healthcare spending. The region's growth is further fueled by a high incidence of asthma, particularly among the elderly population, and a concentration of market players and product approvals. The competitive landscape is characterized by the presence of both international and local companies, with key players such as Cipla Inc., PARI GmbH, and Monaghan Medical Corporation leading the market. Continuous product launches and strategic partnerships are enhancing market dynamics, while challenges such as rising device costs and limited awareness among the public may impede growth. Despite these challenges, the market is set to expand, driven by the ongoing demand for effective asthma management solutions.
Global Asthma Spacers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing prevalence of chronic respiratory conditions.
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1.2.2 Growing awareness about the benefits of Spacers.
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1.2.3 Rising investments by public and private organizations in research and development activities for product innovation.
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1.3 Market Restraints
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1.3.1 Rising costs of these devices and a lack of awareness among people about the product.
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Aerochamber
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2.1.2 Optichamber
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2.1.3 Volumatic
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2.1.4 Inspirease
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2.2 By Distribution Channel
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2.2.1 Retail Pharmacy
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2.2.2 Hospital Pharmacy
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2.2.3 E-Commerce
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Asthma Spacers Market Size FAQs
What is the current Global Asthma Spacers Market size?
The Global Asthma Spacers Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)
Who are the key players in Global Asthma Spacers Market?
PARI GmbH, Koninklijke Philips N.V., HAAG-STREIT GROUP, Cipla Inc. and Truedell Medical International are the major companies operating in the Global Asthma Spacers Market.