Asthma Inhaler Device Market 2018 | High Incidence Rate of Asthma Encourages Industry to Grow by Size, Share | Says MRFR

The report covers the Current scenario and the future growth prospects of the ‘Asthma Inhaler Device Market’ from 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The Global Asthma Inhaler Device Market has been observing continued growth and is expected to capture a CAGR of 5.2% over the forecast period of 2017–2023, reveals Market Research Future (MRFR), in a minutely analyzed research report. The high incidence rate of respiratory disorders, particularly COPD and asthma spur the market growth. High healthcare spending and government strategic and collaborative endeavors to diagnose and manage respiratory health problems also contribute to the growth of the Global Asthma Inhaler Devices Market.

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The rise in disposable income and preference for combination therapy for treatment of asthma also boosts market growth. Combination therapy makes use of inhalers for better compliance and reduction of complexity. Complications in inhalation, the high price of devices are limiting the market growth. However, the emergence of novel technologies such as sensor technology which assists in proper inhalation is expected to offer favorable grounds for market growth.

Asthma Inhaler Device Market - Competitive Landscape

The notable players in the global asthma inhaler devices market include GlaxoSmithKline Plc. (U.K), 3M (US), SRS PHARMACEUTICALS PVT. LTD. (India), Merck & Co., Inc. (US), Aristopharma Ltd. (Bangladesh), and Intas Pharmaceuticals, Ltd. (India).

Asthma Inhaler Device Market - Updates

May 2018, a new asthma device which requires less force to activate has been created by engineers at the University of Cape Town. Named Easy Squeeze, the device is an assistant device for metered-dose asthma inhalers and is easier for children and elderly patient.

In May 2018, SmartAir, a Northern Ireland based health equipment manufacturer, developed a sensor technology named Airbrio, which aids patients to improve their inhalation technique and provides a compliance score.

Asthma Inhaler Device Market - Segmentation

The Global Asthma Inhaler Device Market has been segmented based on device type, technology, and end-user. By type, the market has been segmented into the metered-dose inhaler, MDI with a spacer, dry-powder inhaler, and others. By technology, the market has been segmented into manually operated inhaler devices and digitally operated inhaler devices. By end-user, the market has been segmented into hospital, clinics, research institutes, and others.

Asthma Inhaler Device Market - Regional Analysis

The Global Asthma Inhaler Device Market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas account for the largest share of the global asthma inhaler device market owing to a vast patient population and availability of a wide range of products in the market. As reported by the Centers for Disease Control and Prevention (CDC), almost 7.8% of the US population was diagnosed with asthma. A robust healthcare sector and the concentration of key players in the region further accelerates the growth of the market.

Europe accounts for the second largest share of the market; UK, France, and Germany being the key contributors to the market. High prevalence of-of respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD) and asthma induce demand for respiratory devices and accessories. In addition, the presence of a substantial patient population, growth of the medical device industry and the emergence of new players in the market drive the Europe market for asthma inhaler devices.

Asia Pacific market is expected to expand at a relatively faster rate than others over the forecast period. Japan and China are the key contributors to the Asia Pacific market. Soaring incidences of respiratory diseases, asthma in particular in the region along with the growth of the healthcare sector fosters the growth of the market. According to the Indian Chest Society, India harbors a vast asthma patient population.

The Middle East & Africa market is expected to exhibit steady growth owing to the soaring demand for diagnostic and treatment services for various respiratory diseases.

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