Increasing Prevalence of Asthma will frow The Global Asthma Devices Market at an Approximate CAGR of 4.3% During Forecasted Period 2017-2023

Pune, India, February 2018 /MRFR Press Release/- Market Research Future published a half-cooked research report on global asthma devices market. 

Market Highlights 

Asthma is a type of chronic lung disease that inflames and narrows the airways. The symptoms of the disease are inclusive of recurring periods of wheezing, shortness of breath, chest tightness, and coughing. Asthma inhalers are the medical devices which deliver medication to the patient’s body via the lungs. Increasing prevalence of asthma and rising healthcare expenditures are the major drivers for the market growth. According to the World Health Organization in 2017, approximately 235 million people suffer from asthma. Moreover, it was estimated that in 2015, the disease killed approximately 383 million patients around the globe. However, long treatment procedures and low per capita income followed by lack of favorable reimbursement policies in the developing countries will restrain the market growth during the forecast period.

Segmentation

The global asthma devices market is segmented on the basis of type, technology, and end-users.

On the basis of the type, the market is segmented into inhalers, nebulizers, and others. The inhalers segment is sub-segmented into metered-dose inhalers and dry powder inhalers. The metered-dose inhalers segment, by inhalers, is further categorized into standard pressurized metered-dose inhalers, breath-activated pressurized metered-dose inhalers, metered-dose inhalers with a spacer, and others. The nebulizers segment is sub-segmented compressor nebulizers, ultrasonic nebulizers, mesh nebulizers, and others.

On the basis of the technology, the market is segmented into manually operated inhaler devices, digitally operated inhaler devices, and others.

On the basis of the end users, the market is segmented into hospital, clinics, retail pharmacies, and others. 

Regional Analysis

The Americas dominate the global asthma devices market owing to a well-developed healthcare sector and huge patient population for asthma diseases. Additionally, the presence of global players like Merck & Co., Inc. and Baxter boosts market growth during the forecast period. 

Europe is the second largest asthma devices market owing to a well-developed healthcare infrastructure and huge patient population. Moreover, government support for research & development and rising healthcare expenditures fuel the market growth.Asia Pacific is the fastest growing region in the global market due to the presence of a huge patient population and continuously developing economies like India and China. According to a study of the Indian Chest Society in 2015, 300 million people suffered from asthma worldwide and about a tenth of its share is in India. Moreover, favorable government policies like reduced excise and customs duty followed by the exemptions in service tax along boosts the market growth. 

On the other hand, the Middle East & Africa holds the least share of the global asthma devices market due to the presence of poor economy economies, especially within the African region. Majority of the market of within the region is held by the Middle East due to huge healthcare expenditures. 

Key Players

GlaxoSmithKline plc. (Europe), Merck & Co., Inc. (U.S.), 3M (U.S.), Aristopharma Ltd. (Asia Pacific), SRS PHARMACEUTICALS PVT. LTD. (Asia Pacific), AstraZeneca (Europe), Baxter. (U.S.), Boehringer Ingelheim GmbH (Europe), Koninklijke Philips N.V. (Europe), and others.

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