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The global asthma spacers market is expected to value at over US$ 1.5 Bn in 2019 and is expected to register a CAGR of 4.7%. The global asthma spacers market is segmented on the basis of product type, distribution channel, and region.
Global Asthma Spacers Market: IntroductionAn asthma spacer is a medical device used to increase the ease of administering aerosolized medication from an inhaler. The spacers are made from antistatic polymer that helps in prevention of electrostatic charge-related loss of medication to the walls of the chamber. A spacer device is a container with a mouthpiece or mask at one end, and space to insert an inhaler at the other. Asthma spacers are handy devices that are used to deliver medication into your lungs and are used to treat asthma or COPD (Chronic Obstructive Pulmonary Disease). Spacers are available in different shapes and sizes.
Global Asthma Spacers Market: DynamicsIncreasing prevalence of respiratory diseases and disorders is a key factor expected to drive growth of the global asthama spacers market over the forecast period. In addition, technological advancements and rising number of approvals for inhalers and spacers or valve holding chambers is expected to have a positive impact on growth of the global asthma spacers market. For instance, in May 2017, Lupin Limited along with its American subsidiary -Lupin Pharmaceuticals, Inc. “ partnered with Albertsons Companies LLC in order to exclusively offer Lupins InspiraChamber, which is a valve holding chamber developed for enhanced delivery of inhaled aerosol therapies. Moreover, increasing number of approvals for new drugs with enhanced effectiveness and increasing number of generic drug approvals and subsequent product launches is another key factor expected to have a positive impact on the target market. Furthrmore, rising number of investments and initiatives by government of various countries and healthcare organizations in order to spread awareness about respiratory diseases and its preventive and curative measures can result into higher demand and adoption of inhalers and spacers. Global initiative for chronic obstructive lung disease organizes various events along with COPD patient groups and healthcare professionals across the globe to drive awareness regarding COPD, with the objective to improve COPD care globally. However, lack of knowledge regarding usage of device and administration protocols and high cost of products are some factors expected to hamper growth of the target market. In addition, inhalers are often required to deliver more than one medicine at a time, and as a result, the cost of such products increases significantly. Furthermore, usage of spacers is time-consuming and may become difficult when required to be administered to young children, patients with special needs, and elderly individuals, which can further impact adoption rate and market growth. Whereas, increasing focus by healthcare organizations to implement or introduce insurance schemes which will allow patients access to asthma treatment and medicines, support further R&D activities to know asthma triggers and for identifying causes of asthma, etc., is expected to create lucrative opportunities for major players in the market. In 2015 for instance, the UN created the 2030 Agenda for sustainable development, with the objective to transform the world with 17 Sustainable Development Goals (SDGs) and 169 targets. Among the SDGs, Goal 3 which ensure healthy lives and promotes well-being for all at all ages specifically addresses health priorities. Among the goals, several targets and indicators were made to address issues related to reducing the global burden of asthma. Also, leading players are engaged with new product development, which is expected to support growth of the target market in the next ten years. In April 2019, for instance, Cipla Inc. launched Niveoli -beclomethasone-formoterol combination hydrofluoroalkane (HFA) inhaler for adults -for patients suffering from with obstructive airway diseases (OAD) such as asthma and chronic obstructive pulmonary disorder.
Global Asthma Spacers Market Analysis, by Product TypeAmong the product type segments, the aerochamber segment is expected to account for major revenue share and is expected to maintain its dominance over the forecast period. The aerochamber segment is expected to register CAGR of over 4.8%. The optichamber segment accounts for second highest share in terms of revenue in the near future.
Global Asthma Spacers Market Analysis, by Distribution ChannelAmong the distribution channel segments, the retail pharmacy segment is expected to account for major revenue share and is expected to maintain its dominance over the forecast period. The e-commerce segment is expected to register CAGR of over 4.7%. The hospital pharmacy segment accounts for second highest share in terms of revenue in the near future.
Global Asthma Spacers Market Analysis, by RegionCurrently, the market in North America is dominating the global market in terms of revenue and is expected to maintain its dominance over the forecast period. The market in North America is expected to dominate the global asthma spacers market. This is primarily attributed rising incidences of COPD in countries in the region. In 2015, according to Center for Diseases Control and Prevention, around 16 Mn Americans are suffering from chronic obstructive pulmonary disease. Asthama spacers market in Europe accounts for second-highest share in terms of revenue and is expected to register lucrative growth in the near future. Favorable reimbursement policies, high prevalence of asthma, and increasing government initiatives that mandate the use of asthma spacers with metered dose inhalers are some major factors expected to fuel growth of the target market in this region. In addition, presence of major players operating in the target market is another factor expected to support growth of the target market in Europe over the forecast period. Market in the Asia Pacific is expected to register the fastest growth in terms of revenue in the near future. This is attributed to developing medical facilities and rising healthcare expenditure in the region. In addition, China and India has resulted in a rising number of production facilities in the countries, attracting and creating opportunities for major players across the world. The market in Middle East & Africa is expected to witness potential growth in terms of revenue over the forecast period, followed by the market in Latin America.
Global Asthama Spacers Market Segmentation:
Global Asthama Spacers Market Segmentation, By Product Type:
Global Asthama Spacers Market Segmentation, By Distribution Channel:
- Retail Pharmacy
- Hospital Pharmacy
Global Asthama Spacers Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Market Players included in the report: Global Asthma Spacers Market
- Koninklijke Philips N.V.
- Merck & Co., Inc.
- PARI GmbH
- AstraZeneca Plc
- GlaxoSmithKline Plc
- Cipla Inc.
- Trudell Medical Group Ltd.
- Medical Developments International Limited
- Lupin Limited
- Sanofi S.A. (Fisons plc)
Key Insights Covered: Global Asthma Spacers Market1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Asthma Spacers industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Asthma Spacers industry. 3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Asthma Spacers industry. 4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Asthma Spacers industry. 5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Asthma Spacers industry.
Research Methodology: Global Asthma Spacers Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1.1 Report Assumptions 1.2 Research Methodology 18.104.22.168 Abbreviations 2.1 Executive Summary 2.2 Drivers 2.3 Restraints 2.4 Opportunities 2.5 Trends 2.6 Global Asthma Spacers Market Outlook (2012-2028) 2.6.1 Global Asthma Spacers Market Revenue (US$ Mn) (2012-2019) 2.6.2 Global Asthma Spacers Market Revenue (US$ Mn) (2020–2028) 2.7 Global Asthma Spacers Market Revenue by Regions 2.7.1 Global Asthma Spacers Market Revenue (US$ Mn) Comparison, by Region (2012-2019) 2 | read more...