Asthma Devices Market 2018 | Opportunities, Challenges, Scope, Analysis and Forecast Till 2023

Posted February 8, 2019 by SiaWGR

The Global Asthma Devices Market is expected to grow at an approximate CAGR of 4.3% during the forecast period.

Asthma Devices Market – Overview
Asthma is a type of chronic lung disease that inflames and narrows the airways. The symptoms of the disease are inclusive of recurring periods of wheezing, shortness of breath, chest tightness, and coughing. The Global Asthma Devices Market is expected to grow at an approximate CAGR of 4.3% during the forecast period.
Asthma Inhalers are the medical devices which deliver medication to the patient’s body via the lungs. Increasing prevalence of asthma and rising healthcare expenditures are the major drivers for the market growth.
According to the World Health Organization in 2017, approximately 235 million people suffer from asthma. Moreover, it was estimated that in 2015, the disease killed approximately 383 million patients around the globe. However, long treatment procedures and low per capita income followed by lack of favorable reimbursement policies in the developing countries will restrain the market growth during the forecast period.
Asthma Devices Market - Key Players
GlaxoSmithKline plc. (Europe), Merck & Co., Inc. (U.S.), 3M (U.S.), Aristopharma Ltd. (Asia Pacific), SRS PHARMACEUTICALS PVT. LTD. (Asia Pacific), AstraZeneca (Europe), Baxter. (U.S.), Boehringer Ingelheim GmbH (Europe), Koninklijke Philips N.V. (Europe), and others.
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Asthma Devices Market - Segmentation
The Global Asthma Devices Market is segmented on the basis of type, technology, and end-users.
On the basis of the type, the market is segmented into inhalers, nebulizers, and others. The inhalers segment is sub-segmented into metered-dose inhalers and dry powder inhalers. The metered-dose inhalers segment, by inhalers, is further categorized into standard pressurized metered-dose inhalers, breath-activated pressurized metered-dose inhalers, metered-dose inhalers with a spacer, and others. The nebulizers segment is sub-segmented compressor nebulizers, ultrasonic nebulizers, mesh nebulizers, and others.
On the basis of the technology, the market is segmented into manually operated inhaler devices, digitally operated inhaler devices, and others.
On the basis of the end users, the market is segmented into hospital, clinics, retail pharmacies, and others.
Industry Updates
Feb 2017 BI received expansion of FDA approval of the use of Tiotropium Respimat for treatment of Asthma in Children. With this approval, company will be able to sell the product inside the United States.
Jan 2017 AstraZeneca had announced that on 25 January 2017 the US Food and Drug Administration (FDA) granted six months of paediatric exclusivity for Symbicort (budesonide/formoterol) Inhalation Aerosol. Symbicort is approved in the US to treat asthma in patients 12 years and older and for the maintenance and treatment of COPD in adults, the company is expecting larger market share with the product launch.
Nov 2016 Chiesi acquires Atopix therapeutics. The acquisition of the UK based clinical stage biotechnology company will help Chiesi enhance its Asthma Segment.
Feb 2015 AstraZeneca and Actavis Plc had signed agreement under which AstraZeneca will acquire the rights to Actavis’ branded respiratory business in the U.S. and Canada for an initial consideration of $600 million on completion and low single-digit royalties above certain revenue threshold.
Asthma Devices Market - Regional Analysis
Depending on geographic region, Globally North America is the largest market for Asthma Inhalers. Currently there are around 6.4% of American suffering from COPD in U.S. and around 5.4 million people suffering from asthma in U.K. This major growth is attributed to the increasing demand of the dry powder inhalers among population due to its several advantages over Metered Dose Inhalers and other types of inhalers.
Europe is the second-largest market for asthma inhalers. It is observed that approximately 70% of the child’s death occurs per year are due to respiratory disorders which are results of the sudden attacks hence rescue medication or rescue inhalers can serve better to save lots of lives per year.
Asia pacific region is expected to be fastest growing region in respiratory Inhaler market. Middle East & Africa is expected to have limited but steady growth in the market. These countries with the advancement of technology are expected to show large number of cases of asthma and other respiratory disease which remain unnoticed currently.
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Issued By Shruti
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Business Address Amanora Chembers
Country India
Categories Business , Health , Medical
Last Updated February 8, 2019