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At 6.4% CAGR, Asthma Spacer Market to Surpass US$ 2,523.1 Million, globally, by end of 2028, Says Coherent Market Insights (CMI)
Coherent Market Insights
5 min read

SEATTLE, Nov. 12, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global asthma spacer market is estimated to be valued at US$ 1,637.5 million in 2021 and is expected to exhibit a CAGR of 6.4% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Asthma Spacer Market:

Key trends in the market include initiatives by the various governments and healthcare organizations to raise knowledge regarding respiratory illnesses, as well as preventive and therapeutic treatments are having a beneficial influence on the demand for asthma spacers. For instance, in May 2021, according to the British Lung Foundation, preventer inhalers should be taken on a daily basis to help prevent attacks and control symptoms. Reliever inhalers, which operate by expanding the airways should only be used to relieve symptoms as they occur.

Increasing prevalence of asthma is estimated to propel the global asthma spacer market growth during the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), around 25 million Americans were suffering from asthma and 3,524 died from asthma, in 2019. It is the most common chronic condition among American children, where one child out of every 12 has asthma.

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Key Market Takeaways:

The global asthma spacer market is expected to exhibit a CAGR of 6.4% during the forecast period owing to key companies operating in the asthma spacers market are focusing on organic and inorganic growth strategies such as product launches and product approvals. For instance, in February 2018, Medical Developments International Ltd, an Australian healthcare equipment company, had released a new anti-static version of the Space Chamber Plus. The new type spacer is intended to deliver medicine to the lungs more effectively.

Among spacer type, volumatic segment is expected to witness highest CAGR in the global asthma spacer market during the forecast period, owing to it successful role in administration of proper amount of medication. Volumatic spacer enables the proper dosage to be inhaled slowly and accurately. Volumatic spacer permits the asthma medicine to efficiently reach at the lungs. Volumatic spacer is effective and minimizes the medication's adverse effects in the mouth. Lupin Ltd. and GlaxoSmithKline are the major key players involved in the volumatic spacer.

Based on distribution channel, retail pharmacy is estimated to expand at a fastest CAGR in the global asthma spacer market during the forecast period, due to the increasing number of distribution agreements with retail or independent pharmacies by market key players leads to the increase in over-the-counter sales of asthma spacers. For instance, in April 2017, Medical Developments International Limited, a pharmaceutical company, announced that it finalized ‘Ranging’ deals with Costco, Price Chopper and Independent Pharmacy Co-Op for the distribution of its range of ‘Compact Anti-Static Space Chamber’ respiratory devices in the U.S.

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