Global Asthma Spacers Market to Exhibit Modest Growth, North America to Witness Rampant Adoption of Asthma Spacers, Opines Fact.MR
Published : 12 Mar 2020 Industry: Healthcare
The global asthma spacers market is expected to grow moderately, at a CAGR of 3.9% between 2020 and 2026. The proliferation of respiratory illnesses such as asthma and allergies on back of pollution and smoking is paving the way for high demand growth of asthma spacers. The geriatric population of the world is increasing rapidly and is exhibiting heightened disposition for respiratory disorders. Projections indicate that by 2050, more than one-fifth of the world’s population shall constitute the elderly. Consequently, the number of asthma patients shall increase manifold. The World Health Organization predicts that by the end of 2025, an additional 100 million people shall contract asthma. At present, around 235 million people are affected by asthma. On the back of the aforementioned factors, the market shall surpass a value of US$ 1.8 Bn by the end of the forecast period. Moreover, difficulties using metered dose inhalers (MDI) is expected to further leverage the asthma spacers market.
Key Takeaways of Asthma Spacers Market Study
- Aerochambers shall gain significant traction during the forecast period. The segment shall account for more than two-fifth of the market share of the asthma spacers market. Delivery of medicine in a regulated manner and minimum wastage are key factors driving market growth.
- Micro-spacers and flexi chambers are anticipated to exhibit moderate growth, accounting for a CAGR of 3.9% during the forecast period.
- North America is set to remain the most attractive market for asthma spacers. A market share of 41% is predicted for the region during the forecast period, surpassing a valuation of US$ 739.61 Mn.
- Asia-Pacific is catching up, expanding moderately at a CAGR of 4.5%. Burgeoning population, combined with increased expenditure on healthcare are key drivers behind the expansion of the asthma spacers market in the region.
“The global asthma spacers market shows significant potential in the future. Growing incidence of asthma among the elderly, combined with a burgeoning population are contributing immensely to the expansion of the asthma spacers market,” concludes a Fact.MR analyst.
Product Launches and Spontaneous Innovation to Determine Competition Landscape
The global asthma spacers market is highly fragmented. A number of small and large-scale companies operate in the market. The dominant players’ invest heavily in acquiring research and development businesses of smaller companies. Moreover, they also focused on launching new products. For instance, Trudell International invests in continuous innovation in order to broad base its market footprint. Its AEROCHAMBER PLUS FLOW-VU ensures that medicine is delivered where it is required. It consists of a dedicated inhalation indicator which helps co-ordinate actuation with inhalation. Another market player, Medical Developments International, focuses on spontaneous technological innovation to develop patient-friendly markers. For example, the company’s Anti-Static Compact Space Chamber Plus, is equipped with a Cross Valve Technology. This ensures proper delivery of medicine to asthma patients by providing low-resistance, one-way inhalation flow.
Looking for more information?
The research study on the asthma spacers market by Fact.MR incorporates an unbiased assessment of key factors and trends responsible for shaping the landscape of the global asthma spacers market over 2020-2026. It includes a detailed assessment of key parameters that are anticipated to exert influence during 2020-2026. Market statistics have been presented on the basis of product type (Aerochambers, Optichambers, Volumatic, Inspirease and Others) and distribution channel (Retail Pharmacy, e-Commerce and Hospital Pharmacy) across five major regions.
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