A recent report published by Infinium Global Research on asthma and COPD devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional asthma and COPD devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional asthma and COPD devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global asthma and COPD devices market. According to the report, global asthma and COPD devices market was nearly worth USD 38 Billion in 2020 and is projected to reach a value of over USD 50 Billion in 2026, growing with a CAGR of 4.7% over the forecast period of 2020-2026.
Asthma and chronic obstructive pulmonary disease (COPD) are respiratory diseases that cause difficulty in breathing due to airway narrowing inside their lungs or due to damage to their lungs. Smooth muscle spasms in the airway walls are the main cause for the narrowing of the airways. These smooth muscles are relaxed with the help of medication known as bronchodilators in order to improve the airflow. Bronchodilators are typically inhaled with the help of devices such as inhalers and nebulizers. Asthma and COPD devices are distributed through pharmacies, hospitals, and online drug stores. Moreover, the asthma and COPD devices market is witnessing several changes as the technology develops and innovative products emerge in the market.
The growth of the market is attributed to the rising prevalence of obstructive lung diseases. According to the World Health Organization, about 235 million people around the world suffer from asthma, while more than 3 million people die every year due to chronic obstructive pulmonary disease. Asthma and COPD devices are widely used by patients for relieving the symptoms as well as for treatment. Moreover, the growing tobacco consumption, air pollution, occupational chemicals and dust, and frequent lower respiratory infections during childhood are some factors contributing to the rise in the prevalence of obstructive lung disorders. These factors together also lead to the growing sale of asthma and COPD devices. In addition, the growing geriatric population that is more susceptible to respiratory diseases is anticipated to boost the market growth. On the other hand, the high cost of some inhalers and nebulizer devices is anticipated to hamper the growth of the market. Nevertheless, transforming healthcare infrastructure in emerging markets along with growing advancements in inhalers and nebulizer devices is expected to provide growth opportunities for the players operating in the market.
Geographically, asthma and COPD devices market is segmented into North America, Europe, Asia-Pacific, and Row. North America dominates the market and anticipated to hold the highest share of the market in the forecast period, followed by Europe. The presence of better reimbursement policies, rising prevalence of chronic respiratory diseases is the factors supporting the growth of the market in these regions. The market in Asia-Pacific is expected to grow at a high rate in the forecast period. The presence of large patient pools with obstructive lung diseases and the growing demand for sophisticate medical devices are some of the factors contributing to the growth of the market.
The report on the global asthma and COPD devices market covers segments such as product, indication, and distribution channel. On the basis of product, the sub-markets include inhaler and nebulizer. On the basis of indication, the sub-markets include asthma and COPD. On the basis of distribution channel, the sub-markets include retail pharmacies, hospitals, and online pharmacies.
The report provides profiles of the companies in the market such as AstraZeneca PLC, Baxter International Inc., Boehringer Ingelheim International GmbH, GF Health Products, Inc., GlaxoSmithKline plc, Merck & Co., Novartis AG, PARI GmbH, Koninklijke Philips N.V., and Aerogen, Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of asthma and COPD devices market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.