Asthma Spacers Market Size, Share | Industry Growth 2022, 28

The asthma spacers market is projected to grow from US$ 1,666.48 million in 2022 to US$ 2,266.47 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2022 to 2028.

Asthma spacers are an external device that provides better drug delivery by increasing inhalation and actuation. Spacers helps in administrering right amount of medicine to the lungs when used along with the metered dose inhaler (MDI). The application of asthma spacer helps in reducing the waste of medicine and also restricts the occurrence of dose associated adverse events. Asthma is a chronic respiratory disorder that affects the lungs' airways by variable and recurring symptoms such as chest tightness, shortness of breath, wheezing, and coughing. Most of the time, it is very difficult to distinguish asthma from COPD in elderly patients due to similar clinical features, while reoccurrence of asthma is a major problem in younger patients. Genetic factors strongly influence the development of the disease.

The asthma spacers market growth is attributed to the increasing prevalence of chronic respiratory conditions, growing awareness about the benefist of Spacers, and rising investments by public and private organizations in R&D activities for product innovation. However, rising costs of these devices and a lack of awareness among people about the product are restraining the market growth.

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Asthma Spacers Market: Strategic Insights

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The asthma spacers market is segmented into product, distribution channel, and geography. Based on geography, the asthma spacers market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The asthma spacers market report offers insights and in-depth analysis of the market, emphasizing parameters such as market size, trends, technological advancements, and market dynamics. The report aslo involves the the analysis of the competitive landscape of the globally leading market players of the asthma spacers market. Furthermore, the report includes the impact of the COVID-19 pandemic on the asthma spacers market across all the regions.

Market Insights
Rise in Demand due to Increasing Uptake of Metered Dose Inhalers

The increasing prevalence of respiratory conditions, such as asthma and COPD, creates lucrative opportunities to adopt metered-dose inhalers. For instance, according to a study published by a group of researchers at the Department of Pulmonary and Critical Care Medicine, Mayo Clinic, in 2020, the number of asthma cases is expected to reach nearly 52.0% in the next 20 years in the US. Furthermore, according to the same study, the spending for the treatment of asthma in the US is expected to reach US$ 963 billion by 2038, which will drive the growth of the uptake of metered-dose inhalers, eventually accelerating the adoption of inhalers and spacers during the forecast period. Along with this, the cases of asthma in Europe are also increasing constantly. Further, more than 30 million children and adults under 45 years of age are currently livingwith asthma in Europe, as per the European Lung White Book data. Among all the European countries, the UK, Spain, and Ireland have some of the highest asthma rates.  

Further, 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. Such programs are boosting the adoption of inhalers, which are, in turn, driving the market.

Spacers play a major role while delivering drugs to the respiratory tract. However, patients face difficulties while using the spacer in some cases due to its size and design. For instance, according to a study conducted by Trudell Medical, one of the significant players in the market in 2019, the majority of the patients feel embarrassed to use spacers because of their size and design. To cope with this problem, market players in the industry are now focusing on the design aspects, which will be easy to carry and offer efficient treatment for respiratory conditions. Therefore, new designs and enhanced features are reshaping the US asthma spacers market.

Product -Based Insights

Based on product, the asthma spacers market is segmented into aerochamber, optichamber, volumatic, and inspirease.  In 2022, the aerochamber is expected to hold the largest market share and is expected to witness the highest CAGR from 2022 to 2028.

Asthma Spacers Market Regional Insights

The regional trends and factors influencing the Asthma Spacers Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Asthma Spacers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Asthma Spacers Market Report Scope

Asthma Spacers Market Players Density: Understanding Its Impact on Business Dynamics

The Asthma Spacers Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Asthma Spacers Market are:

1. Cipla Inc.
2. PARI GmbH
3. Koninklijke Philips N.V.
4. Lupin
5. Laboratoire ProtecSom

Disclaimer: The companies listed above are not ranked in any particular order.

Distribution Channel-Based Insights

Based on distribution channel, the asthma spacers market is segmented into retail pharmacy, hospital pharmacy, and E-commerce. In 2021, the retail pharmacy segment held the largest share of the market and is expected to witness the highest CAGR from 2022 to 2028.

Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the asthma spacers market players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name globally. The market is anticipated to flourish in the coming years due to the development of innovative products by market players.

Company Profiles:

Cipla Inc., PARI GmbH, Koninklijke Philips N.V., Lupin, HAAG-STREIT GROUP, Laboratoire ProtecSom, Monaghan Medical Corporation, Koo Medical Equipment, Agaplastic, Metall Zug, and Teleflex Incorporated are among the leading companies operating in the global asthma spacers market.