Air pollution is at its worse at present and millions of people suffer from various respiratory diseases due to this. One of the most common ailments related to breathing is asthma. Its prevalence has increased dramatically in the last few years which in turn has proven to be beneficial for the Global Asthma Inhaler Devices Market. During the forecast period of 2017-2022, this market will experience tremendous growth.
Asthma is an inflammatory ailment that is causes problems in breathing. A person stricken by asthma can find it hard to breathe when exposed to various external elements like ragweed, pollen, animal dander, chemical fumes and smoke. The symptoms of this disease can be characterized as incessant coughing, inability to draw breaths and a peculiar constricting sensation in the chest. In this disease, the inner walls of the asthmatic airways get swelled up and due to it the respiratory tract becomes vulnerable to irritations.
On a global level, the air pollution level is on an all-time high, the government is yet to find a plausible solution for this issue. Due to this, it can be confidently asserted that the worldwide market for asthma inhaler devices will progress efficiently over the forecast period. Statistics show that the market will generate a wholesome revenue by the end of the forecast period. The CAGR for this term is calculated to be around 5.2%.
Currently, the children and old people are the most susceptible to this disease. If young kids get this disease, they might end up losing their productivity and to avoid this parent use asthma inhaler devices to keep their little one’s condition stable. This fact works like a charm for this market and helps it to expand its reach.
Additional factors that further benefit the market are the rise in the demand for metered dose inhalers, higher investments in the healthcare sector and increased awareness regarding lung diseases.
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Global Asthma Inhaler Device Market – Key Players
Some of the key players in this market are
- GlaxoSmithKline Plc. (U.K)
- Merck & Co., Inc. (US)
- 3M (US)
- Aristopharma Ltd. (Bangladesh)
- SRS PHARMACEUTICALS PVT. LTD. (India)
- Intas Pharmaceuticals, Ltd. (India)
Global Asthma Inhaler Device Market – Segmentation
The worldwide market for asthma inhaler devices has been trifurcated. All these three segments have a sub-segment each respectively and they have been listed as below:
End Users – Research institutes, hospitals and clinics.
Device Types – MDI with a spacer, metered dose inhaler and dry powder inhaler. Amongst these, meter dose inhaler grabs the largest chunk of the market share with around 70%.
Technologies – Digitally operated inhaler devices and manually operated inhaler devices.
Industry News:
September 3, 2018: The National Institute for Health and Care Excellence has recently approved a new procedure called bronchial thermoplasty, which is offered to the adults suffering from severe asthma. The procedure has been proven to be safe and can reduce the frequency and severity of attacks.
May 2018, a new asthma device which requires less force to activate has been created by engineers at the University of Cape Town. Named Easy Squeeze, the device is an assistant device for metered-dose asthma inhalers and is easier for children and elderly patient.
In May 2018, SmartAir, a Northern Ireland based health equipment manufacturer, developed a sensor technology named Airbrio, which aids patients to improve their inhalation technique and provides a compliance score.
March, 2018 – Adherium a renowned medical equipment manufacturer has bagged a crucial approval from the FDA. It got a heads up from FDA for its new product Smartinhaler sensor which is an aerosol asthma inhaler to be sold over the counter. This development is supposed to positively impact the market’s progression.
Feb 2017 BI received expantion 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 announced that on 25 January 2017 the US Food and Drug Administration (FDA) granted six months of pediatric 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 have entered into a definitive 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.
Global Asthma Inhaler Device Market – Regional Analysis
The Asthma Inhaler Devices Market has its reach across various verticals of the globe. Over the years it has successfully established its dominance in various regions like Americas, Asia Pacific, Europe and Rest of the World.
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Americas has the upper hand out of all the above-mentioned regions. It accounts for the maximum market shares. Its lead can be mainly attributed to a recent survey that suggested that nearly 7.8% of the population was struggling with asthma in US alone. Furthermore, this market will observe expansion due to the presence of major market players and higher investments in the healthcare sector.
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