Market Scenario
The global Asthma Inhaler Device Market Forecast is likely to expand at 5.2 % CAGR during the forecast period (2017-2022) owing to the increasing prevalence of asthma among the crowd, asserts Market Research Future (MRFR). An inflammatory disease of the lungs, asthma is characterized by the difficulty faced while breathing. The symptoms of asthma are often triggered with exposure to allergens such as ragweed, pollen, animal dander, and irritants such as chemical fumes and smoke. Asthma leads to swelling of the inside walls of an asthmatic’s airways and makes airways sensitive to irritations.
Drivers and Constraints Impacting the Market
With the increasing prevalence of asthma especially among the children, the market is likely to propel over the assessment period. For instance, around 9 million children under five years of age die every year due to the presence of lung diseases. The increasing disposable income and rising preference for combination therapy for asthma treatment are boosting the global market during the review period. Moreover, high health care spending coupled with government strategic and collaborative endeavors in order to manage and diagnose respiratory health problems contribute to the market growth.
On the flip side, high prices of devices, complications during inhalation, and lack of accuracy are estimated to hamper the market growth. Moreover, side effects such as tremor, nervousness, dizziness, irritation, nausea, muscle pain, and others associated with using inhaler devices are presumed to inhibit the market growth in the coming years. Moreover, competition faced from pharmaceutical giants and new entrants entering the market is likely to affect the market growth.
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Global Asthma Inhaler Device Market: Segmental Analysis
The global Asthma Inhaler Device Market Forecast has been segmented on the basis of technology, type, end-user, and region.
By mode of device type, the global inhaler devices market has been segmented into dry-powder inhaler, metered-dose inhaler, MDI with a spacer, and others.
By mode of technology, the global inhaler devices market has been segmented into digitally operated and manually operated inhaler devices.
By mode of end-users, the global inhaler devices market has been segmented into research institutes, clinics, hospitals, and others.
Regional Insights
The global Asthma Inhaler Device Market Forecast span across regions namely, Europe, America, Asia Pacific, and the Middle East and Africa.
Among all the regions, the American market is presumed to register the maximum market share owing to the availability of a variety of products in the market coupled with rising patient population. According to the Centers for Disease Control and Prevention, around 7.8 % of the U.S. population in 2015 was diagnosed with asthma. The growth is also attributed to the presence of key players and well-developed healthcare infrastructure in this region.
Europe is estimated to be the second largest market due to the presence of major contributors such as France, Germany, and the U.K. The growth of the market is mainly attributed to the presence of a high population with different types of allergy conditions and use of respiratory devices.
Asia Pacific is considered to be the fastest growing market owing to the increasing demand for respiratory inhalers and increasing environmental pollution. Countries such as China and Japan are the countries holding the maximum market share in this region. According to the Indian Chest Society, in 2015, around 300 people suffered from asthma across the globe, with India harboring a huge patient population.
On the other hand, the Middle East and Africa are expected to register a steady growth due to rising demand for treatment and diagnostic services for chronic diseases.
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.
Competitive Dashboard
The major players operating the global market are Merck & Co. Inc. (US), GlaxoSmithKline Plc. (U.K), 3M (US), Aristopharma Ltd. (Bangladesh), SRS PHARMACEUTICALS PVT. LTD. (India), Intas Pharmaceuticals Ltd. (India), and others.
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