Asthma and COPD Devices Market

SKU: DMMD1858 | Last Updated On: Jan 16 2023 | Available Formats

>Asthma and COPD Devices Market Expected to reach a high CAGR of 4.8% By 2023-2030:

Asthma and COPD Devices Market is segmented By Product Type (Inhalers (Dry Powered Inhalers, Metered Dose Inhalers, Soft Mist Inhalers), Nebulizers (Compressor Nebulizer, Mesh Nebulizer, Ultrasound Nebulizer) ), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.

Asthma and COPD Devices Market size was valued US$ YY billion in 2021 and is estimated to reach US$ 71.8 billion by 2029, growing at a CAGR of 4.8% during the forecast period (2023-2030). 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. 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.

Asthma and COPD Devices Market

Metrics

Details

Market CAGR

4.8%

Segments Covered

By Product Type, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Market Dynamics

The global asthma and COPD devices market is growing due to an increase in the incidence and prevalence of asthma and COPD, technological advancements, and a growing geriatric population.

Technological advancements in novel drugs drives the growth of the market

Technological advancements are anticipated to drive the growth of the market in the forecast period. Limitations of traditional treatments, such as the late onset of action and low efficacy, are projected to encourage the development of novel targeted drugs, thereby driving the market. For instance, in February 2021, Sanofi, in collaboration with Regeneron Pharmaceuticals, initiated a Phase III clinical trial to assess the efficacy and safety of itepekimab on the annualized rate of acute moderate-or-severe COPD exacerbations in former smokers with moderate-to-severe chronic obstructive pulmonary disease (COPD). The trial is expected to be completed in July 2024. The market players are adopting various strategies such as product launches, developments, collaborations, acquisitions, and expansions to increase their market shares. For instance, in July 2020, Novartis AG received approval from the European Commission (EC) for Enerzair Breezhaler (indacaterol acetate, glycopyrronium bromide, and mometasone furoate [IND/GLY/MF]) as a maintenance treatment of asthma in adult patients not adequately controlled with a maintenance combination of a long‑acting beta2‑agonist (LABA) and a high-dose of an inhaled corticosteroid (ICS) who experienced one or more asthma exacerbations in the previous year.

According to the World Health Organization (WHO) 2021 factsheet, COPD is the third-leading cause of death worldwide, causing 3.23 million deaths in 2019. Over 80% of these deaths occurred in low- and middle-income countries (LMIC). Moreover, the increasing geriatric population globally is boosting the market growth.

The high cost of asthma treatment is expected to hamper the market growth

The expensive cost of asthma inhalers could limit industry expansion. A growing proportion of patients undergoing respiratory operations need innovative inhalers because they have chronic and respiratory disorders like asthma and COPD. However, the adoption rate of inhalers may decline throughout low-income countries as a result of the high cost of these devices for these disorders. For instance, according to the TalktoMira, Inc, the average price of one brand-name asthma inhaler is $292.91 without insurance.

The expensive price of these gadgets and necessary accessories could limit market expansion. Market growth in underdeveloped nations with relatively low-income levels may be constrained because to the high costs involved with asthma procedures. As a result, it might be challenging for middle-income and low-income countries to adopt such expensive devices. Therefore, the high price of these advanced devices could restrain the expansion of the inhalers market over the estimated year.

COVID-19 Impact Analysis

COVID-19 impacted the global supply chain of pharmaceuticals, affecting the Asthma and COPD drug market. According to a research study by José Luis Izquierdo et al., published in the European Respiratory Journal, March 2021, allergy-related factors such as rhinitis and eczema were less common in asthmatic patients with COVID-19. There was a high prevalence of these comorbidities observed in patients with COVID-19 who required hospital admission.

Furthermore, the use of inhaled corticosteroids (ICS) was lower in patients who required hospitalization due to COVID-19 compared to non-hospitalized patients (48.3% versus 61.5%). Although patients treated with biologics showed increased severity and more comorbidities at the ear, nose, and throat levels, COVID-19-related hospitalizations in these patients were relatively low (0.23%). Thus, patients with asthma and COVID-19 were older and at increased risk due to comorbidity-related factors. Inhaled corticosteroids (ICS) and biologics are generally safe and may be associated with a protective effect against severe COVID-19 infection. Chronic obstructive pulmonary disease (COPD) patients have an increased risk of severe pneumonia and poor outcomes when they develop COVID-19. This may be related to poor underlying lung reserves or increased expression of ACE-2 receptors in small airways.

Industry Analysis

Global asthma and COPD devices market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, supply chain analysis and pricing analysis, reimbursement policies, technological advancements, PEST analysis.

Segment Analysis

The asthma segment is expected to hold the largest market share in global asthma and COPD devices market

Asthma is considered one of the world's most common diseases affecting the population and a life-threatening condition affecting patients' regular breathing. It is a persistent condition that stretches and narrows the air passages of the lungs, causing constant assaults of breathlessness, bronchospasm, and reversible obstruction of airflow. Moreover, there is a large rise in the consumption of cigarettes, which contributes to asthma symptoms. In addition, the rise in industrialization has also contributed to an increase in the number of cases of asthma, which, over the forecast era, may drive the demand for asthma drugs.

The substantial increase in prevalence and incidence of asthma has led to an increase in the patient population, which has, in turn, increased the demand for these drugs. According to the World Health Organization (WHO) 2021 factsheet, asthma is a major non-communicable disease (NCD), affecting both children and adults. Globally, it affected an estimated 262 million people in 2019 and caused 461,000 deaths. Enormous investments in the study of asthma drugs accompanied by strategic collaborations such as mergers and acquisitions are the business strategies followed by the major companies in the market. For instance, in October 2019, the US Food and Drug Administration (FDA) approved the self-administration of AstraZeneca’s asthma drug Fasenra, a pre-filled, single-use auto-injector.

Geographical Analysis

North America region holds the largest market share in the global asthma and COPD devices market

North America dominates the market for Asthma and COPD devices and is expected to show a similar trend over the forecast period, owing to the rising incidence of diseases such as COPD and asthma, the aging population, increasing research and development activities, and the presence of key market players.

In the United States, asthma is more common in adult women than adult men. According to the Centers for Disease Control and Prevention 2020 report, in the United States, approximately 25 million Americans have asthma. This equals to about 1 in 13 Americans, including 8% of adults and 7% of children. About 20 million US adults aged 18 years and over have asthma. Similarly, asthma is a major public health concern in Canada. As a lifelong respiratory illness, asthma affects the work productivity, quality of life, mental health, and psychological well-being of the Canadian population. In Canada, over 3.8 million individuals had asthma in 2019, as per Canada's 2019 annual asthma survey report. The high number of patients affected by asthma increases the demand for drugs for the treatment of the target disease, thereby boosting the growth of this region.

For instance, in February 2019, Mylan has received the U.S. Food and Drug Administration (FDA) approval for the first generic version of Advair Diskus (fluticasone propionate and salmeterol inhalation powder).

Competitive Landscape

The asthma and COPD devices market is highly competitive, owing to big market players in the industry. The key asthma and COPD devices players which are contributing to the growth of the global market include AstraZeneca PLC, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, Novartis AG, Hoffmann-La Roche Ltd, Boehringer Ingelheim International GmbH, Merck & Co., Inc, Baxter International, Cipla Ltd, OMRON Healthcare Europe B.V, Teva Pharmaceutical Industries Ltd, PARI Medical Holding, Koninklijke Philips N.V., Beximco Pharmaceuticals Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Asthma and COPD Drug Market globally. For instance, in March 2021, GlaxoSmithKline PC, in collaboration with IQVIA Pty Ltd, initiated a Phase III clinical trial to evaluate the efficacy and safety of GSK3511294 (Depemokimab) in adult and adolescent patients with severe uncontrolled asthma.

Key Companies to Watch

Novartis AG:

Overview: Novartis AG is a Swiss multinational pharmaceutical company based in Basel, Switzerland. It operates business through two divisions: Innovative medicine, Sandoz. Made up of two business units – Novartis Pharmaceuticals which includes Novartis Gene Therapies, and Novartis Oncology – our Innovative Medicines Division commercializes innovative patented medicines to enhance health outcomes for patients and healthcare professionals. Sandoz is a global leader in generic pharmaceuticals and biosimilars that pioneers novel approaches to help people around the world access high-quality medicines. The company portfolio includes Oncology, Cardiovascular, Renal and Metabolic Medicine, Immunology, Dermatology, Ophthalmology, Neuroscience, Respiratory.

Product Portfolio: Enerzair Breezhaler- in the EU, the first-in-class LABA/LAMA/ICS fixed-dose combination for patients whose asthma is uncontrolled with LABA/ICS1.

The global asthma and COPD devices market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.

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