According to the latest report by IMARC Group, titled "COPD and Asthma Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global COPD and asthma devices market size reached US$ 43.4 Billion in 2022. COPD and asthma devices are medical equipment designed to help patients manage their symptoms of chronic obstructive pulmonary disease (COPD) and asthma. They provide the user with data on respiratory functions, along with therapy to aid in controlling their symptoms. COPD devices help in monitoring lung function, tracking medications, detecting early signs of exacerbations, and providing reminders for treatments. On the other hand, asthma devices provide data on air quality levels and monitor peak flow measurements and other asthma triggers. The demand for COPD and asthma devices is continually increasing as they improve the quality of life of the patients by providing the user with the tools they need to manage their condition better.
Global COPD and Asthma Devices Market:
The rising prevalence of chronic diseases among the masses majorly drives the global market. This can be supported by the growing pollution levels and the escalating number of cigarette smokers across the globe. Coupled with this, the increasing incidences of chronic respiratory diseases (CRDs), including chronic obstructive pulmonary disease (COPD), lung disorders, pulmonary hypertension (PH), bronchial asthma, and cystic fibrosis among individuals, are catalyzing the demand for COPD and asthma devices. Apart from this, the occupational exposure to dust in forestry, mining, and agricultural sectors is also accelerating the demand for effective airway management devices, thereby propelling the market. In addition, the augmenting adoption of connected medical devices among healthcare professionals to ensure that patients receive the best care and consultation possible, regardless of the circumstance, is acting as a growth-inducing factor. Moreover, various leading manufacturers are developing more effective and efficient COPD and asthma devices to improve the efficiency of medication management, along with continuous developments in home-based COPD and asthma treatments, thus creating a positive market outlook. Some of the other factors driving the market include the rising healthcare expenditure and growing reimbursement schemes offered by health insurance companies. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 60.4 Billion by 2028, exhibiting a CAGR of 5.31% during 2023-2028.
- On the basis of the product, the market has been segmented into inhalers (drug powdered inhalers (DPIs), metered dose inhalers (MDIs), and soft mist inhalers), and nebulizers (compressor, ultrasonic, and mesh nebulizers).
- Based on the indication, the market has been classified into asthma and COPD.
- On the basis of the distribution channel, the market has been categorized into retail pharmacies, hospitals, and online pharmacies.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Adherium Limited, Aristopharma Ltd., AstraZeneca PLC, Baxter International Inc., Boehringer Ingelheim International GmbH, Cohero Health Inc., Koninklijke Philips N.V., Omron Corporation, Pari Respiratory Equipment Inc., Recipharm AB, and Verona Pharma plc.
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