Global Asthma Spacers Market Size

Asthma Spacers Market Analysis

The asthma spacers market is expected to register a CAGR of 6.4% over the forecast period, 2022-2027.

The asthma spacers market is likely to grow even faster because of the COVID-19 crisis. Additionally, the threat will have a long-term influence on governments and regulatory agencies in terms of future pandemic preparedness. Because of the rising number of COVID-19 cases with respiratory symptoms, demand for asthma spacers has skyrocketed, and many patients have suffered acute respiratory disease syndrome (ARDS). Also, people with asthma (PWA) are at high risk of serious illness from COVID-19. Many regulatory bodies that regulate medical devices are reducing import limits, in addition to accelerating registration processes for required goods, all to ensure that laws do not restrict the development or supply of devices that could save lives. For instance, the United States Environmental Protection Agency (EPA) states that May is Asthma Awareness Month which has been created to raise awarness regarding the disease. Furthermore, awareness programs and well-coordinated asthma management programs, which are likely to have a positive impact on the adoption of asthma spacers due to precautionary measures which will eventually drive the asthma spacers market up to a certain extent globally.

Further, the increasing prevalence of chronic respiratory condition, growing awareness about the benefits of Spacers, and rising investments by public and private organizations in research and development activities for product innovation are among the major factors driving the growth of the studied market. Chronic respiratory disorders are among the most common non-communicable diseases worldwide because of the presence of noxious environmental, occupational, and behavioral inhalational exposures. According to the World Health Organization (WHO) asthma affected an estimated 262 million people in 2019 and caused 4,55,000, deaths. Such factors are likely to boost the adoption of asthma spacers devices, thereby contributing to the studied market growth.

According to the Asthma and Allergy Foundation of America (AAFA), in 2020 asthma affects over 25 million Americans. In 2019, about 20 million U.S. adults aged 18 and older have asthma. On average, 11 people in the U.S. die from asthma each day. As per the same source mentioned above in 2020, 4,145 people died from asthma. All of these deaths are avoidable with the right treatment and care. People with asthma may need to use their inhalers every day. Using a spacer device makes it easier to use an aerosol inhaler and helps the medicine reach the lungs more effectively. Therefore, the adoption of asthma spacer devices is poised to accelerate the asthma spacer market globally and is expected to increase in the future, thereby driving the growth of the studied market over the forecast period.

In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the market studied. For instance, in December 2019, as per the JOJ Nursing & Health Care, inhaled short-acting bronchodilators are the most used first-line medications used to treat exacerbations of wheezing or asthma. Additionally, in March 2021, Philip Morris announced a deal to buy Vectura at an enterprise value of USD 1.2 billion. The acquisition will accelerate Philip Morris Internationa (PMIs) beyond nicotine strategy and expand its product pipeline development capabilities in inhaled therapeutics. Thus, owing to the product launches and acquisitions, the studied market is expected to have significant growth over the forecast period.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, rising costs of these devices and a lack of awareness among people about the product. is likely to impede market growth.