Report : North America 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 5.4% CAGR, the North America Asthma Spacers market is speculated to be worth US$ 1,035.10 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America asthma spacers market was valued at US$ 753.08 million in 2022 and is expected to reach US$ 1,035.10 million by 2028, registering an annual growth rate of 5.4% from 2022 to 2028. Rising prevalence of chronic respiratory conditions and growing awareness regarding benefits of the asthma spacers are the critical factors attributed to the market expansion.
Asthma causes swellings in airways passages, resulting in the narrowing of airways to the lungs and further causing trouble in breathing, tightness in the chest, wheezing, and other associated indications. Chronic obstructive pulmonary disease (COPD) also causes obstructions in airflow. The causes of these conditions are unclear; however, genetic factors, environmental conditions, overweight conditions, and smoking are major risk factors. Respiratory conditions are commonly observed across the US. In the country, the prevalence of certain conditions, such as asthma, COPD, chronic bronchitis, and emphysema, is continually increasing.
A higher asthma epidemic represents the possibility of increased adoption of inhalers, which eventually drives the US asthma spacers market. For instance, according to a study published by the Asthma and Allergy Foundation of America, 1 in 13 people suffers from asthma in the US. Furthermore, according to the National Health Interview Survey, 2018, an estimated 13.6% of the population suffers from asthma in the country.
On the contrary, high risk of adverse effects due to unlicensed prescriptions hinders the growth of North America asthma spacers market.
Based on product, the North America asthma spacers market is segmented into aerochamber, optichamber, volumatic, and inspirease. Aerochamber segment 42.9% market share in 2022, amassing US$ 323.08 million. It is projected to garner US$ 464.65 million by 2028 to expand at 6.2% CAGR during 2022–2028.
By distribution channel, the North America asthma spacers market is segmented into retail pharmacy, hospital pharmacy, and E-commerce. With 42.2% share of the domain, the retail pharmacy segment is expected to dominate the market in 2022. It is expected to reach at US$ 317.88 million in 2022 and is estimated to generate US$ 442.81 million by 2028 to grow at a CAGR of 5.7% over the forecast period.
Our regional analysis states that US is expected to capture 71.1% market share in 2022. It is assessed at US$ 535.07 million in 2022 and is likely to hit US$ 747.86 million by 2028, exhibiting a CAGR of 5.7% during the forecast period.
Key players dominating the North America 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 obstructive 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.