Market Trends of Global Asthma Spacers Industry
This section covers the major market trends shaping the Asthma Spacers Market according to our research experts:
Aerochamber Segment is Expected to Witness Significant High Growth Over the Forecast Period
The Aerochamber is a spacer used with a metered-dose inhaler that helps control delivery of asthma medication. Aerochambers are witnessed high in demand due to the increased prevalence of asthma, particularly among the elderly. According to the World Health Organization (WHO), the number of persons aged 60 and more will reach two billion by 2050, accounting for 22% of the global population. Aerochambers are gaining popularity due to their improved ability to deliver medicine in a slow and regulated manner. Hence, owing to the above factors, the adoption of these products is likely to increase among the target population, ultimately driving the market growth.
Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in April 2020 Adherium Limited, a leader in digital inhaled device adherence, remote monitoring, and data management solutions, has signed a heads of terms sales agreement with Monaghan Medical Corporation, the United States subsidiary of Trudell Medical Limited. Monaghan has an established and comprehensive sales team working across the United States supporting AeroChamber, Aerobika and AeroEclipse device commercialization.
North America is Expected to Dominate the Asthma Spacers Market
North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced products, and rising incidence of asthma coupled with increasing healthcare spending in the region. A rising incidence of asthma especially among elderly population in the United States is among the key factors which contribute to the growth of the studied market in North America.
Key product approvals, high concentration of market players, or manufacturer's presence in the United States are some of the factors driving the growth of the asthma spacers market in the country. For instance, in April 2020 Cipla Limited announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation with a spacer, or holding chamber, is an attachment that should always be used with inhaler, from the United States Food and Drug Administration (US FDA). These continuous product approvals in the region are anticipated to drive the growth of the market in the country.
Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.
