COPD is an abbreviation for Chronic Obstructive Pulmonary Disease. COPD and asthma are diseases that cause difficulty in breathing and/or create a blockage in the airways of lungs. Asthma may arise due to mucus production, inflammation and tightening of muscles whereas the primary cause of COPD could be tobacco smoking.
The COPD & asthma devices market size was US$ 37.18 Bn in 2019 and expected to reach US$ 56.79 Bn by 2027; this converts into a compounded annual growth rate (CAGR) of 5.4% for the forecast period.
The impact of the pandemic on the market has been positive. Since, asthma patients are more susceptible to display symptoms of COVID-19, many patients have seemed to improve their adherence to medications. Furthermore, many parts of the world have faced shortages of albuterol inhalers since most of them were used for COVID-19 patients. According to the National Health Services (NHS) in the U.K., the number of inhalers prescribed rose by nearly 70% between February and March 2020.
The inhalers segment dominated the market in 2019 and expected to continue this trend.
Classified on the basis of product type, the market consists of two main segments i.e., inhalers and nebulizers. Since inhalation is the fastest and most effective method to deliver medication, the segment accounted for the largest market share capturing more than 95% in 2019. The inhalers segment garnered more than USD 35 billion by the end of 2019. The segment is estimated to continue dominating the market throughout the forecast timeline. Nevertheless, the nebulizer segment is projected to register a compound annual growth rate of approximately 5.5%.
Among the two types of indications, the rising prevalence of asthma cases has led to the dominance of the segment.
The two types of indications of the market are COPD and asthma. The asthma segment led the market to garner around two-thirds, collecting nearly USD 25 billion in 2019. The rising prevalence of asthma among individuals is the major contributor for the segment’s expansion. The availability of advanced technologies is further boosting the segment’s growth. On the other hand, the COPD segment is predicted to witness a growth rate of around 6% during the forecast period.
Distribution channel-wise, the retail pharmacies gained more as compared to hospitals and online pharmacies.
Among the distribution channels, the retail pharmacy segment led the market. It accounted for a little under 50% or more than USD 17 billion by the end of 2019. A widespread network of pharmacy stores is largely driving the segment forward. Moreover, since this is the oldest and most conventional medium, consumers prefer retail pharmacies over other distribution channels. However, the rise of e-commerce and the convenience it brings with it, is making it widely popular among many consumers, especially the youth. This, therefore, is estimated to grow the online pharmacy at a rate of over 7% during the forecast period, making it the fastest expanding segment.
The growing levels of air pollutants in the indoor and outdoor environment is thrusting the North American COPD & asthma devices market. The surge in the active smoking population, as well as exposure to similar environments, is aiding in the augmentation of the market. The already high numbers of patients suffering from respiratory disorders coupled with a well-funded R&D sector are estimated to boost the regional market further. All of these factors combined has led the North American market to dominate in 2019.
The European market is majorly influenced by the changing lifestyle patterns and comparatively higher air pollution levels. Besides this, most of the factors influencing the North American market are also expected to have an impact on the European regional market. Europe, however, ranked second in terms of market share.
Growing population, rapid industrialization, and shift in lifestyle patterns are having a dramatic effect on the market in Asia–Pacific. The region is expected to display the highest growth rate among all other regions. A few other factors impacting the market growth are the rising awareness regarding respiratory diseases and its available medication as well as demand for better healthcare facilities due to improved economic stability in the region.
Drivers: The major driver of the COPD & asthma devices market is the rising air pollution levels. An increase in pollution levels has significantly increased the number of incidences of asthma and COPD. Also, the surge in the population of active smokers adds to the prevalence of these respiratory diseases and thereby, will propel the market forward. Advancing R&D has led to the improvement in design and as a result, the portability of these devices will aid in the expansion of the market. The rising government initiatives to spread awareness regarding diseases and medication devices is estimated to further boost the market.
Restraints: Increase in price competition and deterioration of material quality is a major restraining factor for the market. Incompetent reimbursement support especially in developing nations is further deterring patients from investing into these devices.
Opportunities: Several opportunities, the most important one being the expiration of the patent on blockbuster drugs, will pave the way for the significant expansion of the market. The expiration of these drugs will make way for other manufacturers to introduce a lower-priced generic version. This, in turn, may increase the sales of the device. Another factor that holds the potential to drive the market forward is the development of smart inhalers.
1) In January 2019, FindAir launched a smart inhaler device ‘FindAir. This device is intended to help patients monitor their condition and predict future attacks.
2) On similar lines, January 2020 witnessed Apta Pharma partner with Lupin Ltd. to launch India’s first connected device for metered-dose inhalers ‘ADHERO’.
"How big is the COPD & asthma devices market?"
The market size was US$ 37.18Bn in 2019 and expected to reach US$ 56.79Bn by 2027.
"What is the expected market growth?"
The market is expected to grow at a compounded annual growth rate (CAGR) of 5.4% during the forecast period.
"Which geography accounted for the largest market share?"
"In the base year, North America held the largest geographic share of the market"
"Which geography is lucrative for an investment in the market?"
"With the highest growth rate, APAC is the most lucrative region for investments."
Market by product type segmentation, which is the fastest-growing sub-segment?
Nebulizers is the fastest-growing sub-segment when analyzing the market by product type.
"Who are the key players in the COPD & asthma devices market?"
A few key players include, but not limited to Aerogen Inc., Astrazeneca PLC, Baxter International Inc., Boehringer Ingelheim International GmbH, 3M Company, GF Health Products Inc., Glaxosmithkline Plc, Koninklijke Philips N.V. (Philips), Novartis Ag, Pari Medical Holding GmbH.
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Chapter 1. Research Objective
1.1 Objective, Definition & Scope
1.2 Methodology
1.2.1 Primary Research
1.2.2 Secondary Research
1.2.3 Market Forecast - Estimation & Approach
1.2.4 Assumptions & Assessments
1.3 Insights and Growth - Relevancy Mapping
1.3.1 FABRIC Platform
1.4 Data mining & efficiency
Chapter 2. Executive Summary
2.1 COPD And Asthma Devices
Market Overview
2.2 Interconnectivity & Related markets
2.3 Ecosystem Map
2.4 COPD And Asthma Devices
Market Business Segmentation
2.5 COPD And Asthma Devices
Market Geographic Segmentation
2.6 Competition Outlook
2.7 Key Statistics
Chapter 3. Strategic Analysis
3.1 COPD And Asthma Devices
Market Revenue Opportunities
3.2 Cost Optimization
3.3 Covid19 aftermath - Analyst view
3.4 COPD And Asthma Devices
Market Digital Transformation
Chapter 4. Market Dynamics
4.1 DROC
4.1.1 Drivers
4.1.1.1 Daily exposure to environmental pollution
4.1.1.2 Increase in population susceptible to indoor air pollutants
4.1.1.3 Portability of the drug delivery devices
4.1.1.4 Increase in population of active smokers
4.1.1.5 Rise in government initiatives
4.1.2 Restraints
4.1.2.1 Increase in price competition and deterioration of material quality
4.1.2.2 Overall high cost of asthma treatment is a challenge for the patients
4.1.2.3 Incompetent reimbursement support
4.1.3 Opportunities
4.1.3.1 Patent expiration for blockbuster drugs
4.1.3.2 Smart inhaler: future growth driver
4.1.4 Challenges
4.2 PEST Analysis
4.2.1 Political
4.2.2 Economic
4.2.3 Social
4.2.4 Technological
4.3 Market Impacting Trends
4.3.1 Positive Impact Trends
4.3.2 Adverse Impact Trends
4.4 Porter's 5-force Analysis
4.5 Market News - By Segments
4.5.1 Organic News
4.5.2 Inorganic News
4.6 Price Trend Analysis
Chapter 5. Market Segmentation
5.1 The COPD And Asthma Devices
Market Segmentation Market by Product Type - Forecast till 2027
5.1.1 Inhalers
5.1.2 Nebulizers
5.2 The COPD And Asthma Devices
Market Segmentation Market by Indication - Forecast till 2027
5.2.1 Asthma
5.2.2 COPD
5.3 The COPD And Asthma Devices
Market Segmentation Market by Distribution Channel - Forecast till 2027
5.3.1 Retail Pharmacies
5.3.2 Hospitals
5.3.3 Online Pharmacies
North America COPD And Asthma Devices
Market Segmentation
Market by Product Type - Forecast till 2027
Market by Indication - Forecast till 2027
Market by Distribution Channel - Forecast till 2027
Europe COPD And Asthma Devices
Market Segmentation
Market by Product Type - Forecast till 2027
Market by Indication - Forecast till 2027
Market by Distribution Channel - Forecast till 2027
APAC COPD And Asthma Devices
Market Segmentation
Market by Product Type - Forecast till 2027
Market by Indication - Forecast till 2027
Market by Distribution Channel - Forecast till 2027
Latin America (LATAM) COPD And Asthma Devices
Market Segmentation
Market by Product Type - Forecast till 2027
Market by Indication - Forecast till 2027
Market by Distribution Channel - Forecast till 2027
**The Regions are further studied to analyze the major countries within the respective regions. The coverage of the country level data is dynamic and is updated regularly based on the market movements. Normally, the countries covered in the report include:
North America - United States, Canada, Mexico; Europe - United Kingdom, France, Italy, Germany, Spain, Rest of Europe; Asia Pacific - China, India, Japan, South Korea, Rest of APAC; Middle East & Africa - South Africa, GCC Countries, Rest of MEA; LatAm - Brazil, Argentina, Rest of LatAm;
Chapter 6. Market Use Case Studies
Chapter 7. KOL Recommendations
Chapter 8. Investment Landscape
8.1 COPD And Asthma Devices
Market Investment Analysis
8.2 Market M&A
8.3 Market Fund Raise & Other activity
Chapter 9. COPD And Asthma Devices
Market - Competitive Intelligence
9.1 Company Positioning Analysis
9.1.1 Positioning - By Revenue
9.1.2 Positioning - By Business Score
9.1.3 Legacy Positioning
9.2 Competitive Strategy Analysis
9.2.1 Organic Strategies
9.2.2 Inorganic Strategies
Chapter 10. Key Company Profiles
*The COPD And Asthma Devices
Market Report profiles companies based on the material impact they have on the market ecosystem. These are hence, to be read as 'Key Players' and not necessarily 'Market Leaders'.
Companies are typically profiled to include:
10.x.1 Company Fundamentals
10.x.2 Performance Overview
10.x.3 Product Overview
10.x.4 Recent Developments
The Companies profiled in this Report include:
Chapter 11. Appendix
11.1 About AllTheResearch
11.2 Service offerings
11.3 Author details
11.4 Terms & Conditions
11.5 Contact us
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