Report : Asia Pacific Asthma Spacers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Aerochamber, Optichamber, Volumatic, and Inspirease) and Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and E-Commerce)
At 5.8% CAGR, the Asia Pacific Asthma Spacers market is speculated to be worth US$ 444.91 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific asthma spacers market was valued at US$ 318.08 million in 2022 and is expected to reach US$ 444.91 million by 2028, registering an annual growth rate of 5.8% from 2022 to 2028. Rising awareness about benefits of the asthma spacers and rising popularity of metered dose inhalers are the critical factors attributed to the market expansion.
Inhaler spacers play a vital role in the quick and effective delivery of the inhaled drug into the lungs. Spacers are majorly recommended along with the metered dose inhalers as they have significant capacity to spray the medicine, which gets deposited in the throat or palate. Further, the spacers extensively offer improved ergonomics for the patient, enabling enhanced treatment outcomes.
The rapidly increasing prevalence of respiratory conditions is driving the adoption of inhalers. However, many patients lack the preparedness while using inhalers, causing medication errors. For instance, according to a study published in the online newsletter Business Standard in 2019, an estimated 42% of the patients missed critical medication steps, which led to lowered treatment outcomes. Spacers can offer smooth and slower absorption of drugs in the lungs to deal with such issues. Such benefits served by the spacers are offering significant growth opportunities for market growth.
On the contrary, high risk of adverse effects due to unlicensed prescriptions hinders the growth of Asia Pacific asthma spacers market.
Based on product, the Asia Pacific asthma spacers market is segmented into aerochamber, optichamber, volumatic, and inspirease. Aerochamber segment 42.6% market share in 2022, amassing US$ 135.61 million. It is projected to garner US$ 197.51 million by 2028 to expand at 6.5% CAGR during 2022–2028.
By distribution channel, the Asia Pacific asthma spacers market is segmented into retail pharmacy, hospital pharmacy, and E-commerce. With 42.7% share of the domain, the retail pharmacy segment is expected to dominate the market in 2022. It is expected to reach at US$ 135.78 million in 2022 and is estimated to generate US$ 186.92 million by 2028 to grow at a CAGR of 5.5% over the forecast period.
Our regional analysis states that China is expected to capture 30.4% market share in 2022. It is assessed at US$ 96.77 million in 2022 and is likely to hit US$ 140.72 million by 2028, exhibiting a CAGR of 6.4% during the forecast period.
Key players dominating the Asia Pacific asthma spacers market are Agaplastic, Cipla Inc., Koninklijke Philips N.V., Koo Medical Equipment, Laboratoire ProtecSom, Lupin, Metall Zug, Monaghan Medical Corporation, PARI GmbH, and Teleflex Incorporated among others.
- Cipla Limited announced launching of a new product namely, "Niveoli", that is India's first extra-fine particle beclomethasone-formoterol combination hydrofluoroalkane (HFA) inhaler. The newly launched product is intended for adults, targeting drug delivery to the small airways. Additionally, the new product is a proprietary Cipla inhaler, and the latest offering from Cipla in respiratory inhalation therapy that addresses unmet needs associated with bstructive airway diseases (OAD) such as asthma and chronic obstructive pulmonary disorder (COPD)
- Lupin announced launching of a new product namely, "ADHERO". The newly launched product is a new connected smart device intended for metered-dose inhaler and is first-of-its kind device intended for patients suffering from chronic respiratory diseases by tracking their MDI usage and facilitate for improving adherence to therapy.