Asthma Devices Market Share, Size, Growth, Trends 2032| MRFR

Global Asthma Devices Market Overview

Asthma Devices Market Size was valued at USD 4.00 Billion in 2023. The Global Asthma Devices industry is projected to grow from USD 4.21 Billion in 2024 to USD 7.45 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.89% during the forecast period (2024 - 2032).Asthma is a chronic inflammatory lung disease that narrows the airways. Asthma causes recurring periods of wheezing, chest tightness, shortness of breath, and coughing. Mostly, the symptoms associated with asthma are short-lived and can be easily treated. Asthma inhalers are medical devices which deliver medication into the body via the lungs, thereby, treating asthma and chronic obstructive pulmonary disease. Increasing prevalence of asthma is one of the major drivers for the market growth.

According to the World Health Organization in 2017, approximately 235 million people suffered from asthma. Moreover, it was estimated that in 2015, the disease killed approximately 383 million patients around the globe. Additionally, rising healthcare expenditures and increasing awareness fuel the market growth. 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.

The UK-based medical device company Acurable disclosed this in October 2022, saying it was helped to raise $10.8 million by its lead investor for the round, Kibo Ventures. The firm will use the funding to speed up AcuPebble SA100, which is a home-based sleep diagnostic tool that helps identify and track obstructive sleep apnea cases around the world. Moreover, Acurable would develop new drugs for cardiovascular diseases, asthma and COPD.

Adherium Limited has partnered with Trudell Medical Limited in August 2022 to treat U.S. patients with COPD.

A US$350 million Series A funding round was won by Arteria Therapeutics, a biotechnology company committed to helping asthmatics live normal lives in July of 2022. This money was expected by the company to fund phase 3 trials for a new asthma candidate that is said to have biologic-like efficacy in treating asthma through oral delivery.

Alkem launched Innohaler, a DPI device in March 2022 with an aim of improving comfort living for Asthma and COPD (Chronic Obstructive Pulmonary Disease) patients and narrowing the existing gaps in Asthma care across India. The introduction of this device marks Alkem’s entry into core inhalation treatments where it expects better medication will reach the lungs with every inhalation due to increased patient awareness and adherence program.

Life Wellness Healthcare announced an update on their online store that allows individuals with chronic obstructive pulmonary disease (COPD) be able to reduce their symptoms at home as of January 2022. Payment plans are available when purchasing AirPhysio devices, which are now ready for shipment throughout the United States.

For example, in March 2022, the US Food and Drug Administration approved Symbicort Inhalation Aerosol’s first generic version for treating two common pulmonary conditions, including asthma, among six-year-old and older patients.

For example, a Phase III clinical trial evaluating budesonide/glycopyrronium/formoterol inhalers effectiveness and safety among adults and adolescents who suffer from severe asthma and are inadequately controlled with the standard of care was initiated in March 2021 by AstraZeneca PLC in Mexico and the United States. The trial is expected to be completed in September 2023.

Asthma Devices Market Segment Insights

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

Asthma Devices Type Insights

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 into compressor nebulizers, ultrasonic nebulizers, mesh nebulizers, and others.

Asthma Devices Technology Insights

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

Asthma Devices End-User Insights

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

Asthma Devices Regional Insights

The Americas dominate the global asthma devices market owing to a well-developed healthcare sector and huge patient population for asthma diseases. According to the Centres for Disease Control and Prevention, in 2015, approximately, 7.8% of the total population in the U.S. was identified for the presence of asthma. Moreover, changing lifestyle and increasing healthcare expenditure fuels the market growth. Additionally, the presence of global players like Merck & Co., Inc. and Baxter, and others boost 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. According to a study published in the Asthma Research and Practice journal in 2017, the yearly estimated cost for all the asthmatics per patient is about USD 1,900. Additionally, the presence of the developed economies like the U.K, Germany, and France within the region boosts 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, as per the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.8% and reach USD 280 billion by 2020. 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, especially within the African region. The absence of the developed healthcare sector and stringent government policies restrain the market growth within the African region. Majority of the market within the region is held by the Middle East due to huge healthcare expenditures.

Key players for Asthma Devices Market

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)

Intended Audience

Pharmaceutical Companies

Biotechnological Institutes

Research and Development (R&D) Companies

Medical Research Laboratories

Market Research and Consulting Service Providers

Report Attribute/Metric	Details
Market Size	USD 7.45 Billion
CAGR	4.89%
Base Year	2023
Forecast Period	2024-2032
Historical Data	2022
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, technology, and end users
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	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
Key Market Opportunities	The Americas dominate the global asthma devices market owing to a well-developed healthcare sector and huge patient population for asthma diseases
Key Market Drivers	Increasing prevalence of asthma

Asthma Devices Market Highlights:

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Asthma Device Market Research Report Information By Type (Inhalers, Nebulizers, Dry Powder Inhalers, Metered-Dose Inhalers, Mesh Nebulizers) By Technology (Manually Operated, Digitally Operated) By End Users (Hospital, Retail Pharmacies)-Forecast till 2032