What are the key trends in the COPD and Asthma Devices Market report?
October 14, 2021
Rise in population susceptible to indoor air pollutants drive the growth of the global asthma diagnostic and monitoring device sectorPORTLAND, OREGON, UNITED STATES, October 14, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "COPD and Asthma Devices Market by Product Type (Inhalers and Nebulizers), Indication (Asthma and COPD), and Distribution Channel (Retail Pharmacies, Hospitals, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast 2020–2027". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Increase in price competition and deterioration of material quality, overall high cost of asthma treatment is a challenge for the patients, and incompetent reimbursement support impede the growth to certain extent. Conversely, patent expiration for blockbuster drug and smart Inhalers are anticipated to create lucrative opportunities for the key players in the industry.
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Drivers, restraints, and opportunities-
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.
The outbreak of the pandemic led to increase in use of COPD and asthma diagnostic and monitoring devices to keep track of physiological functions of lungs.
This drift is likely to continue post pandemic as well, since the key players are propping up the health system actively.
Comprehensive competitive analysis and profiles of major market players, such as
GF Health Products
Koninklijke Philips N.V.
PARI medical Holding GMBH
Smith's Group Plc.
Baxter International Inc.
Boehringer Ingelheim International GmbH
The retail pharmacies segment to maintain the dominant share-
Based on application, the retail pharmacies segment accounted for nearly half of the global COPD and asthma devices market revenue in 2019, and is anticipated to lead the trail from 2020 to 2027. Retail pharmacies are the oldest and most conventional medium for distributing the respiratory devices to the consumers, owing to its large chain of distribution network of pharmacies store. This factor has propelled the segment growth. Simultaneously, the online pharmacies segment would manifest the fastest CAGR of 6.0% till 2027.
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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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