Based on the research, the Asthma Inhaler Device Market is expected to grow at a CAGR of 6.42% during the forecast period. The market is also expected to reach a revenue of USD 19677.54 million by the end of 2022-2030.
Asthma, the chronic lung disease, is responsible for narrowing down and inflaming the airways. Problems like coughing, sneezing, tightness in the chest, difficulty breathing and shortness of breath are associated with asthma. asthma inhaler assistance devices are hand-held machines to treat such breathing problems. These machines are mainly used to treat or prevent diseases associated with the airways.
This report covers all the driving factor proving boost to the market growth. It also highlights many prominent key players of the market and what strategies they are adopting in order to sustain the high level of competition of the Asthma Inhaler Device Market. Post covid-19 scenario of the market and the market segmentations along with its regional analysis have been covered in the report.
Covid-19 impact
Although covid-19 has impacted most of the industries negatively, but it has also positive impact on some the few industries. Asthma Inhaler Device Market is one of such industries. A high amount of population was already suffering from asthma and covid-19 had made the situation even worse. As breathing problem is considered as one of the major symptoms of covid-19, it only increased the number of people suffering from breathing trouble.
Asthma is a chronic respiratory condition that constricts the airways of the lungs by causing mucus formation, muscle tension, and inflammation. A device storing a medication the patient inhales is called an inhaler. Several kinds of inhalers are on the market, including relief and preventive inhalers. A common way to give drugs for asthma and COPD, or chronic obstructive pulmonary disease, is through inhaler devices. One of the key factors propelling the growth of the asthma inhaler device market is the rising prevalence of cancer, a chronic respiratory condition. The market expansion for asthma inhaler devices is accelerated by the rising death rate caused by the corresponding disease and the efforts made by the government and NGOs to raise awareness about respiratory ailments. Metered-dose inhalers (MDIs), nebulizers, dry powder inhalers (DPIs), and related services, such as instruction and teaching on the proper use of inhaler devices, are just a few of the products available on the asthma inhaler device market. Asthma devices are a long-term cure or emergency therapy for respiratory conditions and other connected illnesses. Also, asthma is a respiratory illness that obstructs the lungs' airways and makes breathing difficult.
Numerous drug delivery techniques, including oral and parenteral delivery, are created to treat asthma. The pulmonary medication delivery system is most efficient compared to other traditional treatment options. The prevalence of respiratory conditions like asthma and emphysema is on the rise, and these conditions are driving up the demand for short-term, efficient medicine and the requirement for rescue medication in abrupt asthmatic attacks. Due to factors including the increasing incidence of asthma, particularly in children, an expanding need for metered dose inhalers, and the growing awareness of lung disorders, the market for asthma inhaler devices will be predicted to expand over the forecast period. In addition, manufacturers' increased focus on creating sophisticated, portable inhalation devices and government campaigns to raise awareness of asthma symptoms are anticipated to spur market expansion.
With the FDA's clearance of an asthma rescue inhaler developed by partners AstraZeneca and Avillion, patients can now access a single medication that treats symptoms and underlying inflammation. The new product for AstraZeneca may give the pharmaceutical giant's respiratory portfolio new life. The regulatory decision made public on Wednesday comes in response to the FDA advisory committee's positive recommendation, which was approved 16-1 in November and stated that the inhaler's advantages exceed its risks for adults. However, a separate vote on teenagers was considerably near, and for kids between the ages of 4 and 11, the vote was categorically against a positive recommendation. Only people 18 and older are covered by the FDA's approval of the medicine PT027, which is still in development. The inhaler will be sold under the brand name "Airsupra."
Market dynamics
Drivers
Asthma Inhaler Device Market is expected to grow during the forecast period due to the rising cases of asthma. The prevalence of asthma in children and rising awareness among people are also increasing the demand for metered dose inhalers. This demands and rising awareness of asthma among people are driving the growth of the market.
Opportunities
Many prominent key players investing in research and development along with new product launches and collaborating with other players of the market are going to create a huge number of opportunities in the Asthma Inhaler Device Market.
Cumulative growth
In 2019, the retail pharmacies segment had the largest share of the Asthma Inhaler Device Market. North America had the largest market share of Asthma Inhaler in 2019.
Segmentation overview
Based on the global market, the Asthma Inhaler Device Market is segmented into-
By Type
Based on type, the Asthma Inhaler Device Market is further segmented into-
By Mode of operation
Based on mode of operation, the Asthma Inhaler Device Market is further segmented into-
By End-User
Based on end-user, the Asthma Inhaler Device Market is further segmented into-
By Region
Based on region, the Asthma Inhaler Device Market is further segmented into-
Regional analysis
The regional Asthma Inhaler Device Market is broadly divided into the Americas, Europe, Asia-Pacific and the MEA.
Among all these regional markets, America is expected to be the most dominating region due to the increasing cases of asthma in the region. The rising demand for metered-dose inhaler and smart inhalers along with the technological advancements are providing a boost to the American Asthma Inhaler Device Market. Europe is expected to be the second largest region of the Asthma Inhaler Device Market during the forecast period. European Academy of Allergy & Clinical Immunology is making constant efforts to make people aware of the problem. The rising awareness among people and hospitals and patients adopting respiratory inhalers are driving the growth of the European market. In Asia-Pacific regional market is growing due to the rising prevalence of asthma in countries like India, china and Japan. The MEA is also expecting a steady growth because of the rising cases of asthma and demand for better treatment.
Competitive landscape
The global Asthma Inhaler Device Market is highly competitive with the presence of many prominent key players in the market. To sustain in the completion of the market, the key players are embracing various strategies such as collaboration with other players, partnership, product launch, merger and acquisition and investment in research and developments.
Major key players
Report Overview
The report comprises of
| Report Attribute/Metric | Details |
| Market Size | USD 19677.54 million |
| CAGR | 6.42% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Mode of Operation, End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | GlaxoSmithKline plc (UK), Koninklijke Philips NV (Netherlands), AstraZeneca (UK), Cipla Inc. (India), Boehringer Ingelheim International GmbH (Germany), Beximco Pharmaceuticals Ltd (Bangladesh), Merck & Co., Inc. (the US), Teva Pharmaceutical Industries Ltd (Israel), Chiesi Farmaceutici SpA (Italy), and Medisol Lifescience Pvt. Ltd (India). |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | · High prevalence of asthma · Growing need for rescue medication · Rising demand for metered-dose inhalers |
Asthma Inhaler Device Market Highlights:
Frequently Asked Questions (FAQ) :
Asthma Inhaler Device Market is predicted to touch USD 19677.54 million by 2030.
Asthma Inhaler Device Market is projected to grow at a 6.42% CAGR between 2022-2030.
Americas are projected to have a major share in the Asthma Inhaler Device Market.
Key competitors in the Asthma Inhaler Device Market include Medisol Lifescience Pvt. Ltd (India), Chiesi Farmaceutici SpA (Italy), Teva Pharmaceutical Industries Ltd (Israel), Merck & Co., Inc. (the US), Beximco Pharmaceuticals Ltd (Bangladesh), Boehringer Ingelheim International GmbH (Germany), Cipla Inc. (India), AstraZeneca (UK), Koninklijke Philips NV (Netherlands), and GlaxoSmithKline plc (UK).
Specific strategies adopted by key players to create a footprint in the Asthma Inhaler Device Market include acquisition, expansion, collaborations, product launch and approval.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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