Asthma Spacers Market is expected to reach US$ 2,266.47 Million by 2028

Aerochamber Segment to Dominate Product Segment of Asthma Spacers Market

According to our new research study on "Asthma Spacers Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and Distribution Channel," the market is expected 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. Rising investments by public and private organizations in R&D activities for product innovation are driving the growth of the global asthma spacers market. However, rising costs of these devices and lack of awareness among people about the product are the factors restraining the market growth.

The companies engaged in the asthma spacers market witnessed an adverse impact on their services in early 2020 due to the temporary shutdown of their laboratories. Supply chain and manufacturing activities were disrupted globally due to lockdowns implemented by governments, restricted movement, and other COVID-19 safety precautions. However, the healthcare authorities and government organizations in North America focused on spreading awareness about the COVID-19 pandemic among asthmatic patients as they were highly vulnerable to other lung infections. Such awareness programs positively impacted the adoption of asthma spacers due to preventive measures, which eventually boosted the market for asthma spacers during the COVID-19 pandemic.

The product segment in the asthma spacers market is segmented into aerochamber, optichamber, volumatic, and inspirease. The aerochamber segment is expected to hold the largest market share in 2022 and is estimated to register the highest CAGR during 2022–2028. Aerochamber spacer is used along with metered-dose inhaler to improve medication outcomes. The increasing prevalence of respiratory conditions coupled with the growing adoption of inhalers is driving the adoption of aero chamber spacer, which will eventually drive the segment growth. The aerochamber spacer comprises a plastic tube, a valve, a mouthpiece, and a soft sealed end to hold the metered-dose inhaler. The chamber enables the delivery of medicine to the small airways in the lungs. This process catalyzes the drug’s effectiveness. Furthermore, its portability, efficiency, and superior ergonomics make Metered-dose inhaler (MDI) a suitable method for inhalation treatment. A spacer gives patients more time to use the inhaler, making the process easy. It reduces the need for coordination when pressing the inhales and breathing in the medicine. Moreover, spacers increase the amount of time the inhaler takes to deliver medicine and lower the risk of side effects, such as oral thrush. As a result, more and more patients are opting for it. In addition, an increasing preference for asthma spacers for better delivery of aerosolized medication is steering the growth of the asthma spacers market. Increasing preference for asthma spacers for better delivery of aerosolized medication is driving the market growth. Also, various initiatives are being taken by government and healthcare organizations to spread awareness about respiratory diseases and their preventive and curative measures, thereby positively impacting the demand for spacers.

North America is leading the asthma spacers market due to an increasing asthma patient pool and highly sophisticated healthcare infrastructure. According to the Centers for Diseases Control and Prevention (CDC), around 25 million Americans have asthma. This is significantly affecting the sales of asthma spacers. The key companies operating in the asthma spacers market focus on organic and inorganic growth strategies such as product launches and product approvals. They are adopting various methods such as mergers and acquisitions, advanced product development, and collaborations to gain a competitive edge in the market. For instance, in July 2021, Philip Morris International Inc. agreed to buy asthma drugmaker Vectura Group Plc for $ 1.2 billion. The acquisition accelerated PMIs beyond nicotine strategy and expanded its product pipeline development capabilities in inhaled therapeutics.

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

Asthma Spacers Market, by Geography, 2022 (%)

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

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Asthma Spacers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Aerochamber, Optichamber, Volumatic, and Inspirease) and Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and E-Commerce)

The report segments the Asthma Spacers market as follows: