Increased Incidence of Asthma to Augment Demand for Asthma Spacers
The global geriatric population is proliferating at a rapid pace. By 2050, the number of elderly people is expected to surpass 2 billion, accounting for 22% of the total global population.
This rising prevalence of asthma among the elderly is leading to an increase in the demand for asthma spacers. Environmental degradation, leading to poor and reduced air quality
Moreover, studies have demonstrated that 7 out of 10 patients are unable to use inhaler devices effectively. Inhalers require patients to time a good, deep breath exactly while the medicine is released.
Most people experience trouble adjusting this. To improve the intake of medication, demand for spacers is expected to be augmented in the foreseeable future.
Projections indicate a modest growth between 2020 and 2026. Expected CAGR for asthma spacers is pegged at 3.9% during the forecast period.
Aerochambers to Stimulate Market Growth, Micro Spacers & Flexi-Chambers Follow Close Behind
Aerochambers are expected to gain widespread usage throughout the forecast period.
This is attributed to delivery of the medicine in a slow, controlled manner. Moreover, they prevent wastage by ensuring minimum leakage of medicine into the air.
The aerochamber segment is anticipated to register more than two-fifth of the asthma spacers market, surpassing a value of US$ 792.94 Mn by 2026.
Moreover, demand for devices such as micro spacers and flexi-chambers will witness an uptick, poised to grow at a CAGR of 3.9% between 2020 and 2026.
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North America to Retain Market Attractiveness, Asia-Pacific Catching Up
North America shall retain its market attractiveness throughout the forecast period. This is in view of rising incidence of asthma attacks among patients in this region, which has led to an increase in healthcare expenditure.
By 2026, North America is anticipated to register a market share of 41%, surpassing a figure of US$ 739.61 Mn.
Aerochambers are expected to contribute more than half the share in the North American asthma spacers market.
Trailing behind North America is Asia-Pacific, expected to expand at a CAGR of 4.5%.
Development of healthcare sector, in the wake of burgeoning population and subsequent increase in health expenditure, is expected to leverage the asthma spacers market in Asia-Pacific.
In addition, increased preference for asthma spacers for better delivery of aerosolized medication is expected to steer the asthma spacers market on an upward trajectory during the forecast period.
Continuous Innovation and New Product Launches Determine Market Competition
The asthma spacers market is highly fragmented, with a number of players having a footprint in the market.
- Trudell Medical International
- Koninklijke Philips N.V
- Medical Developments International
- Visiomed Group Ltd.
- Cipla Ltd.
- Clement Clarke
- AstraZeneca Merck & Co.
- Lupin Pharmaceuticals Inc.
Acquisition of product profile of emerging players is a major strategy by key market players.
These acquisitions are mostly in the research and development domain where they aim to co-develop innovative technologies.
For instance, Trudell International is committed to continuous innovation to fulfil unmet clinical needs of asthma patients.
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.
Similarly, Medical Developments International has developed the Anti-Static Compact Space Chamber Plus, which ensures efficient delivery of medicine to the lungs.
It is equipped with the Cross Valve Technology, designed to provide low resistance, one-way flow during inhalation for improved drug delivery and ease of use.
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Asthma spacers market Segmentation
Fact.MR has studied the asthma spacers market with detailed segmentation on the basis product type, application and key regions.
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Asthma Spacers Market- Scope of the Report
The recent study by Fact.MR on asthma spacers market offers a 6-year forecast between 2020 and 2026.
The study analyzes crucial trends that are currently determining the growth of asthma spacers market.
This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of asthma spacers.
The study also provides dynamics that are responsible for influencing the future status of the asthma spacers market over the forecast period.
A detailed assessment of asthma spacers market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report.
A list of prominent companies operating in the asthma spacers market along with their product portfolio enhances the reliability of this comprehensive research study.
Asthma Spacers Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in asthma spacers market across the globe.
A comprehensive estimate on asthma spacers market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of asthma spacers market during the forecast period.
Price point comparison by region with global average price is also considered in the study.
Asthma spacers market: Analysis on Market Size Evaluation
Asthma spacers market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for asthma spacers is available in terms of “US$ Mn” for value.
A Y-o-Y growth contrast on prominent asthma spacers market segments, along with market attractiveness evaluation has been incorporated in the report.
Asthma Spacers Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the asthma spacers report, which have helped to deliver projection on the regional markets.
These chapters include the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of asthma spacers market during the forecast period.
Country-specific valuation on demand for asthma spacers has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries.
For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
Asthma Spacers Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of asthma spacers along with their detailed profiles.
Essential and up-to-date data information related to the market performers, who are principally engaged in the production of asthma spacers, has been brought with the help of a detailed dashboard view.
Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis on each player.
Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in asthma spacers market.
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