by The global Asthma Spacers Market is estimated to be valued at US$ 1.86 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Asthma spacers are devices used with metered-dose inhalers (MDIs) to help deliver medication more effectively to the lungs of asthma patients. They are plastic or hollow devices that fit over the mouthpiece of a standard MDI to help maximize the amount of medication that reaches the lungs and minimize medication that gets deposited in the mouth or throat. For patients with asthma or other lung disease, spacers improve lung targeting of inhaled therapies. They provide a swirling and bidirectional flow that helps maximize drug delivery to the airways.
Market key trends
Growing prevalence of asthma across the globe is a major factor driving demand for asthma spacers. As per statistics by The Global Asthma Network, over 300 million people suffer from asthma worldwide. Increasing awareness regarding effective management of asthma symptoms is also fueling adoption of asthma spacers. Technological advancements in asthma spacers such as the introduction of smart digital spacers for monitoring inhaler usage and tracking patient compliance is anticipated to boost market growth over the forecast period. In addition, favorable reimbursement policies and initiatives to improve affordability are encouraging greater adoption of pulmonary drug delivery devices including asthma spacers.
Porter’s Analysis
Threat of new entrants: Low, high set up and certification costs act as a barrier for new players. However, opportunities for new treatments can attract new players.
Bargaining power of buyers: Moderate, large pharmacy chains can negotiate for better prices and terms. However, buyer options are limited due to health conditions needing medical-grade devices.
Bargaining power of suppliers: Moderate, key raw materials have few alternatives but developing markets offer opportunities. Integrated players have an advantage.
Threat of new substitutes: Low, no close substitutes exist for spacer devices helping asthma patients take medication. However, new therapies can impact market over time.
Competitive rivalry: High, major players compete on devices, drugs and digital solutions. Innovation is key to gain market share.
Key Takeaways
The global Asthma Spacers Market Share is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing awareness regarding respiratory diseases and growing adoption of spacers.
The North American region dominates the asthma spacers market owing to the high number of asthma patients and supportive reimbursement structure. However, Asia Pacific is expected to exhibit the fastest growth during the forecast period due to growing healthcare infrastructure and increasing healthcare expenditure in emerging countries such as China and India.
Key players operating in the asthma spacers market include Trudell Medical International, PARI Respiratory Equipment, Inc., Koninklijke Philips N.V, GlaxoSmithKline Plc., Lupin, Medical Developments International, Visiomed Group Ltd., Cipla Inc., Clement Clarke International Ltd., Rossmax International Ltd., Luckys Pharma, Mediacare Equipments (India) Pvt. Ltd., Asia Connection Co., Ltd., and Laboratoire Protecsom SAS. Major players are focusing on new product launches, partnerships and regional expansion strategies to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
