The Asthma Spacers Market is expected to be valued at USD 2.38 Billion in 2027 from USD 1.85 Billion in 2019, registering a CAGR of 3.4% through the forecast period. The market for asthma spacers is predominantly driven by the escalating occurrences of respiratory disorders across the globe. For example, the American College of Allergy, Asthma & Immunology states nearly 8.3% of Americans have asthma, with 20.4 million adults and 6.1 million children suffering from asthma. This is bolstering the need and demand for the asthma spacers market. Moreover, the augmenting investment and financial backing by the government and healthcare corporations to minimize the incidences of respiratory illnesses and to raise awareness about asthma spacers in public is projected to bolster the market growth during the estimated timeframe.
Furthermore, the entry of several new players in the market has diversified the product portfolio. The availability of cost-efficient products and accelerated innovations in the product line is further driving the market growth. The emergence of the COVID-19 pandemic has further added to the market growth. The rapid spread of the infection across the globe and the aggravation of respiratory disorders, and the increasing patient pool has bolstered the demand for the market, contributing significantly to the industry’s growth.
However, the high costs associated with the asthma spacer products and the lack of awareness among the public about the usage and benefits of these products are projected to be significant market restraining factors during the projected timeframe.
Key Highlights from Report:
- The Aerochamber sub-segment is projected to be the largest market shareholder in the forecast timespan, expanding at a CAGR of 3.6% throughout the period. The chamber is convenient to use for individuals who cannot handle the hand-to-mouth method. There are fewer side effects associated with aero-chamber as less amount of medication is processed in the mouth. This is further boosting the segment’s progress in the projected timeframe.
- The E-commerce sub-segment is foreseen to expand rapidly owing to the augmenting penetration of the internet, the growing number of internet users, and the enhanced accessibility of asthma spacers online at an affordable price as compared to retail and pharmacies.
- The clinics and hospitals sub-segment is projected to lead the market in the forecast timeline. This can be accredited to the nearly 439,000 hospitalizations and 1.3 million annual hospital and clinics visits due to the rising incidences of asthma.
- North America is estimated to command the market growth in the estimated timeframe, registering a significantly high CAGR throughout the period. This can be ascribed to the growing burden of asthma and augmenting awareness of the asthma spacers in the region.
- Prominent players of the industry include Lupin Limited, GlaxoSmithKline plc., Fisons plc., Cipla Limited, Merck & Co., Inc, Trudell Medical Group Ltd., Allergan plc, Clement Clarke International Ltd, AstraZeneca plc/A.B., and PARI GmbH, among others.
- Allergan plc gained a controlling stake in Bonti, Inc. in September 2018. The incorporation of Bonti is a strategic investment into Allergan plc’s portfolio and can potentially boost the company’s top-of-the-line portfolio of medical aesthetics.
For the purpose of this report, Emergen Research has segmented the Global Asthma Spacers Market on the basis of type, distribution channel, end-use, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Hospital Pharmacy
- Retail Pharmacy
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Clinics & Hospitals
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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