Report : South 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 3.6% CAGR, the South America Asthma Spacers market is speculated to be worth US$ 73.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South America asthma spacers market was valued at US$ 59.68 million in 2022 and is expected to reach US$ 73.89 million by 2028, registering an annual growth rate of 3.6% from 2022 to 2028. Chronic respiratory conditions becoming more prevalent and growing awareness regarding benefits of 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.
Government authorities and healthcare institutions are implementing various programs to increase asthma awareness to prevent morbidity due to the disease. The National Asthma Control Program (NACP), launched by the Centers for Disease Control and Prevention, is working continually to increase awareness regarding asthma and curb the disease. The program is dedicated to conducting asthma surveillance and research to deal with the disease. Such programs are projected to boost the adoption of inhalers, which are, in turn, driving the market.
On the contrary, high risk of adverse effects due to unlicensed prescriptions hinders the growth of South America asthma spacers market.
Based on product, the South America asthma spacers market is segmented into aerochamber, optichamber, volumatic, and inspirease. Aerochamber segment held 42.3% market share in 2022, amassing US$ 25.25 million. It is projected to garner US$ 32.43 million by 2028 to expand at 4.3% CAGR during 2022–2028.
By distribution channel, the South America asthma spacers market is segmented into retail pharmacy, hospital pharmacy, and E-commerce. With 42.9% share of the domain, the retail pharmacy segment is expected to dominate the market in 2022. It is expected to reach at US$ 25.61 million in 2022 and is estimated to generate US$ 31.21 million by 2028 to grow at a CAGR of 3.4% over the forecast period.
Our regional analysis states that Brazil is expected to capture 47.5% market share in 2022. It is assessed at US$ 28.24 million in 2022 and is likely to hit US$ 35.60 million by 2028, exhibiting a CAGR of 3.9% during the forecast period.
Key players dominating the South America asthma spacers market are Cipla Inc., Koninklijke Philips N.V., Lupin, Metall Zug, 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.