Asthma Devices Market Demands, Insights, Research and Forecast 2020-2027
The global asthma devices market has been evaluated as steadily
growing market and expected that the market will reach high growth figures.
Respiratory inhalers, and nebulizers are the devices which are used to control
the respiratory conditions by directly inhaling the drug into the respiratory
tract. Over the past 50 years, inhaler devices have revolutionized the
respiratory care by delivering the medicines directly into the lungs and
avoiding the adverse effects caused by the other modes of medication. However
there has been a point of concern for the doctors whether the patients are
talking the medication correctly or not. The asthma
devices market is expected to grow at an approximate CAGR of 4.3% during
the forecast period.
Because, even if you have the most potent drug in the inhaler; if
the patient does not take the medication correctly and on time, you will not
see the desired effect of the drug. Different inhaler drugs are being developed
for the different conditions and the inhalers are prescribed to the patients on
the basis of the condition of the patient and the severity of the disease.
There are some major factors that are driving the market growth such as rising
prevalence of respiratory disorders due to increase pollution and unhealthy
lifestyle, increasing usage of combination therapies due to associated
benefits, increased efficacy and easy reimbursement policies associated with
them and others.
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On the other hand, there are some hindering factors which are
restricting the market growth such as side effects and complications during
inhalation, high prices of devices, and lack of accuracy etc. The market is
expected to show large opportunities in the coming future with the advancement
of technology in developing countries and new products with increased accuracy.
However, some of the challenges which the market is expected to face includes
competition from new entrants or big pharmaceutical giants entering the
business or market and the continuous advancements in the product.
Industry Updates
Feb, 2017 BI received expansion of FDA approval of the use of
Tiotropium Respimat for treatment of Asthma in Children. With this approval, company
will be able to sell the product inside the United States.
Jan, 2017 AstraZeneca had announced that on 25 January 2017 the US
Food and Drug Administration (FDA) granted six months of paediatric exclusivity
for Symbicort (budesonide/formoterol) Inhalation Aerosol. Symbicort is approved
in the US to treat asthma in patients 12 years and older and for the
maintenance and treatment of COPD in adults, the company is expecting larger
market share with the product launch.
Nov, 2016 Chiesi acquires Atopix therapeutics. The acquisition of
the UK based clinical stage biotechnology company will help Chiesi enhance its
Asthma Segment.
Feb, 2015 AstraZeneca and Actavis Plc had signed agreement under
which AstraZeneca will acquire the rights to Actavis’ branded respiratory
business in the U.S. and Canada for an initial consideration of $600 million on
completion and low single-digit royalties above certain revenue threshold.
Global Asthma Devices Market - Regional
Analysis
Depending on geographic region, Globally North America is the
largest market for Asthma Inhalers. Currently there are around 6.4% of American
suffering from COPD in U.S. and around 5.4 million people suffering from asthma
in U.K. This major growth is attributed to the increasing demand of the dry powder
inhalers among population due to its several advantages over Metered Dose
Inhalers and other types of inhalers.
Europe is the second-largest market for asthma inhalers. It is
observed that approximately 70% of the child’s death occurs per year are due to
respiratory disorders which are results of the sudden attacks hence rescue
medication or rescue inhalers can serve better to save lots of lives per year.
Asia pacific region is expected to be fastest growing region in
respiratory Inhaler market. Middle East & Africa is expected to have
limited but steady growth in the market. These countries with the advancement
of technology are expected to show large number of cases of asthma and other
respiratory disease which remain unnoticed currently.
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