Fact. MR in its latest market analysis forecasts that asthma spacer sales will grow at a moderate rate between 2021 and 2031. The market is poised to surpass US$ 1803.9 Mn by 2031 end, registering a CAGR of around 3.9% during the forecast period.
Owing to its efficient delivery of medicine in slow and controlled manner, aerochamber is set to register more than two-fifth of the asthma spacers market, reaching a valuation of around US$ 729.9 Mn by 2031.
As inhalers require patients to time a good, deep breath exactly while the medicine is released, majority of them are unable to use these devices effectively. To improve the intake of medication, spacers are being employed. This results in the growing demand for asthma spacers across the globe.
Asthma spacer is a handheld device, generally made with plastic, which makes it easier to inhale medication straight into lungs. Inhaler functions most efficiently when added with a spacer as this gives more time to inhale and prevent medicine from escaping. Especially children who are below 10 years, mostly suffer from Chronic Obstructive Pulmonary Disease (COPD), which is increasing demand for these medical devices. In addition, younger children are unable to use inhalers directly, hence spacers inhalers are helpful for them as well as dosage of drugs can also be maintained. COPD is a lung sickness that makes it hard to inhale and deteriorate over the long run and a lot of individuals with COPD have both emphysema and constant bronchitis. Smoking is increasing market growth of asthma spacers as up to 75% COPD patients have a habit of smoking.
Furthermore, absence of awareness in underdeveloped areas and high cost are other main considerations that are limiting asthma spacer’s market growth. Individuals neglect to comprehend the severity of asthmatic disease, for which this illness stays undiscovered or underdiagnosed in many spots, hampering overall market growth. However, number of product recalls and accuracy concerns over Over-The-Counter (OTC) medical devices are expected to restrain growth of the asthma spacers market.
The North America market accounted for a relatively larger revenue share than other regional markets in the global asthma spacers market in 2021
The North America market accounted for a comparatively larger revenue share in 2021. Significant investments in healthcare infrastructure and rapid adoption of advanced technologies in the medical industry are major factors driving revenue growth of the market. In addition, increasing respiratory disorder and developing number of government and medical services are also driving market revenue growth. Rising respiratory issue rate is an essential product driving market for asthma spacers.
For instance, as per the American School of Sensitivity, Asthma, and Immunology, 8.3% of Americans, or 20.4 million grown-ups and 6.1 million kids, have asthma. Moreover, rising government and medical care is also increasing customer awareness. Furthermore, different organizations and approvals into the market have made it feasible for minimal expense things, which is additionally expected to drive asthma spacers market growth. Tezspire (tezepelumab-ekko) injection has been approved by FDA as an add-on maintenance treatment for improvement of severe asthma symptoms. For adults and children 12 years of age and older with severe asthma that is not managed by their current asthma medication, tezspire is approved for those.
The Europe market accounted for second-largest revenue share in 2021. This attributed to increasing technological advancement in the medical sector . On July 7, 2020, Novartis announced that European Commission (EC) approved Enerzair Breezhler for the treatment of asthma. EC has supported Enerzair Breezhaler as an upkeep treatment of asthma in grown-up patients not satisfactorily controlled with a support mix of a Long‑Acting Beta2‑Agonist (LABA) and a high-portion of a breathed-In Corticosteroid (ICS) who experienced at least one asthma intensifications in the earlier year.
The Asia Pacific market is expected to register a significant revenue growth rate over the forecast period owing to prevalence of respiratory diseases and growing pollution. Growing high-value investments in healthcare infrastructure is also a major factor driving growth of market in this region. In addition, healthcare facilities in countries such as South Korea, India, and China, among others, are rapidly utilizing modern technologies in the medical sector.
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