Chronic obstructive pulmonary disease (COPD) and Asthma are chronic respiratory conditions that make it difficult for the patient to breathe as they block the airways of lungs, thereby a major global concern for national healthcare systems. COPD and asthma devices play a crucial role in managing these diseases in daily life. The most effective treatment option is the pulmonary drug delivery system and the pressurized metered dose inhaler (pMDI) is the most frequently prescribed device worldwide.
According to a report published by Allied Market Research, the global COPD and asthma devices market size is anticipated to reach $51.6 billion with a considerable CAGR from 2020 to 2027. North America is presently holding the highest market share, attributed to a huge number of patients suffering from respiratory syndromes and widespread adoption of nebulizers & inhalers. The Asia-Pacific region at the same time, is expected to witness the fastest growth rate, owing to surge in disposable income, increase in healthcare expenditure, rise in awareness of advanced portable COPD and asthma devices.
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Daily exposure to environmental pollution, rise in population susceptible to indoor air pollutants, portability of the drug delivery devices, surge in population of active smokers, and increase in the number of surgeries drive the growth of the global asthma diagnostic and monitoring device sector. On the other hand, high costs of the device and stringent regulatory procedures impede the growth to some extent. However, high growth potential in emerging markets and increase in geriatric population are expected to create lucrative opportunities in the industry.
Covid-19 scenario-.
Moreover, the outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global COPD and asthma devices market. It is due to the fact that symptoms & causes of COPD and Asthma are similar to the symptoms of the coronavirus disease. Also, as per healthcare records in 2020, asthmatic patients across the world appear to have increased their adherence to inhalers medications as they are more prone to the Covid-19 symptoms. The number of inhalers prescribed by general practitioners has increased by more than two-fifths from the previous year.
- The demand for respiratory care devices including inhalers has been increased during Covid-19. Also, the international regulatory agencies have accelerated approval of several respiratory devices.
- The global lockdown has disrupted the supply chain badly and as a result, the manufacturing process has also been severely hampered.
- However, government bodies across the world have imposed certain relaxations to ease up the existing regulations and the global market is projected to retrieve its position soon.
In addition, the demand for COPD and asthma devices were so high during the pandemic that asthmatic patients in few economies such as US & UK experienced shortages of albuterol inhalers because hospitals were using them more for COVID-19 patients. In a nutshell, the global COPD and asthma devices market is most likely to gather huge prospects & exponential growth post-pandemic as well.
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North America garnered the major share in 2019
Based on geography, North America garnered the largest share in 2019, holding more than one-third of the global COPD and asthma devices market. This is owing to the widespread and early adoption of inhalers & nebulizers and large pool of patients suffering from respiratory diseases in this region. However, the region across Asia-Pacific would portray the fastest CAGR of 5.0% by 2027, due to rise in healthcare expenditure, growth in awareness of advanced portable COPD & asthma devices, and increase in disposable income in Asia-Pacific region.
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