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(Medical-NewsWire.com, March 27, 2020 ) Market Overview
The Global Asthma and COPD Devices Market is expected to grow at a CAGR of 4.3% during the forecasting period (2019-2026).
Chronic Obstructive Pulmonary Disease (COPD) is a group of progressive lung diseases that make it difficult to breathe. COPD can include emphysema and chronic bronchitis.
The medications that can help reduce inflammation and open the airways to help breathe easier with COPD include; short-acting bronchodilators, corticosteroids, methylxanthines, long-acting bronchodilators, combination drugs, and roflumilast.
Asthma is a chronic disease that makes breathing difficult, an inflammation of the air passages in a temporary narrowing of the airways that carry oxygen to the lungs.
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Market Dynamics
The rising prevalence of chronic diseases is one of the factor fueling the global asthma and COPD devices market.
According to Centers of Disease Control and Prevention (CDC), in 2017, 19.9 million adults aged 18 and over have asthma. About 1 in 12 people have asthma, and the numbers are increasing every year.
According to American Academy of Allergy, Asthma & Immunology, in 2016, approximately 8.3% of children in the United States had asthma. Boys were slightly more likely to have asthma than girls at a rate of 9.2% and 7.4%, respectively.
In 2016, there were 3,615 asthma-related deaths in 2015. Children under 18 years old made up 219 of those deaths.
According to Asthma UK, 2016, 5.4 million people in the UK had asthma, which is 1.1 million children and 4.3 million adults. In 2016 1,410 people died from asthma. In England, 4,500,000 people (1 in 11) had asthma. This consists of 932,000 children and 3,600,000 adults.
The UK has among the highest prevalence rates of asthma symptoms in children compared to any other nations across Europe.
According to Asthma Australia, 1 in 9 Australians have asthma, which is around 2.7 million people with asthma. In 2015, 11.2% of Australians had asthma.
According to World Health Organization (WHO), more than 65 million people around the world have moderate or severe COPD. The prevalence of COPD increased by 44.2 percent to 174.5 million individuals globally. COPD was theleading cause of death in the United States, affecting 16 million Americans in 2015.
Market Segmentation
Based on device type, the global market for asthma and COPD devices is broadly segmented as Inhalers, and Nebulizers. Inhalers is further segmented into dry powered inhalers, metered dose inhalers, soft mist inhalers. Nebulizers is further classified into compressor nebulizer, mesh nebulizer, ultrasound nebulizer.
Currently inhalers are the dominant segment and it accounts for approximately XX% of the market, due to the regulatory approval for advanced inhaler products.
Inhalers are the most widely used drug delivery systems for treating asthma, COPD, and other respiratory diseases. The aging population and increased prevalence of respiratory diseases globally are drivers for the market. Increased awareness programs regarding the benefits of inhalers will also drive market growth. The inhalers market accounted for a share more than 85.8% in the global COPD and asthma devices market for the year 2017.
Geographical Analysis
The global asthma and COPD devices market is segmented into North America, Europe, Asia Pacific, South America and ROW.
North America is dominating the global asthma and COPD devices market, due to the regulatory approval and expansion of product portfolio by adding asthma and COPD devices, which is fueling the market growth.
For instance, in February 2019, Mylan have received the U.S. Food and Drug Administration (FDA) approval for first generic version of Advair Diskus (fluticasone propionate and salmeterol inhalation powder).
In July 2015, Propeller Health, a smart inhaler company, receives FDA approval to sell its sensor digital health platform associated with GSK Diskus DPI for COPD and asthma.
In January 2015, GlaxoSmithKline plc have expanded its portfolio of in the US, for patients with asthma and COPD. The add-on portfolio include, Arnuity Ellipta, and Incruse Ellipta.
Competitive Analysis
The strategic alliance between companies and regulatory approval for asthma and COPD devices is one of the key factors driving the global asthma and COPD devices market.
For instance, in December 2018, Teva Pharmaceutical Industries Ltd. have received the U.S. Food and Drug Administration (FDA) approval for ProAir Digihaler (albuterol sulfate 117 mcg) inhalation powder used with multiple inhalers, the first and only digital inhaler with built-in sensors which connects to a companion mobile application and provides inhaler use information to people with asthma and COPD.
In February 2018, Teva Pharmaceutical Industries Ltd. made QVAR RediHaler Inhalation Aerosol commercially available to patients in both 40 mcg and 80 mcg strengths by prescription in the U.S.
In July 02, 2016, OMRON Healthcare, a global leader in medical equipment for home health monitoring and therapy, announces the acquisition of privately-held 3A Health Care s.r.l., a leader in the development and production of specialized aerosol therapy devices and surgical aspirators.
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