Growing Geriatric Population Across Globe Indirectly Paves Way for Asthma Spacers

As per a report published by the WHO, the count of the world’s elderly population is growing exponentially. In fact, between 2015 and 2050, the population is anticipated approximately rise to 22% from 12%. It is estimated that number of elderly population is likely to surpass 2 billion by 2050. By 2020, population aging 60 years and above will outnumber children of age 5 years and below.

As a result, several countries are facing challenges in healthcare sector. In recent years, prevalence of asthma among elderly population is rising. In addition, environmental degradation is resulting in poor air quality. This is one of the key factors behind increasing asthma cases. This, in turn, is leading to increase in demand for asthma spacers.

In latest study, it is demonstrated that 7 out of 10 patients experience trouble while using inhaler device. Inhalers require patients to take deep breathe at the time when medicine is released. If not done properly, the patients are unable to get right amount of medicine.

Asthma Spacers Ensure Appropriate Delivery of Medicine

To improve intake of medicine, people are shifting toward spacers. Registering the shift in trend, the market analyst estimates significant growth in asthma spacer market in forthcoming years.

Asthma spacer market is estimated to scale at modest CAGR of 3.9% during forecast period (2020-2026).

Further, global asthma spacers market has been witnessing significant demand for aerochambers in recent years. The demand rate is attributed to the need for controlled and steady delivery of the medicine. Appropriate delivery of medicine ensures less medicine leakage into the air.

Considering the adoption rate of aerochambers, the segment is projected to capture two-fifth of the asthma spacers market. In terms of revenue, aerochambers will contribute more than US$ 792.94 Mn by end of forecast period.

Meanwhile, flexi-chambers and micro spacers are likely to expand at a CAGR of 3.9% between 2020 and 2026.

Increasing Healthcare Expenditure Playing Vital Role in Expansion of Regional Markets

Growing incidence of asthma in North America provides lucrative growth opportunities to asthma spacer market in the region. With rising number of asthma patients, healthcare expenditure is also rising in the region. As a result, North America market is likely to hold 41% of global asthma spacer market. In terms of revenue, the regional market is likely to contribute more than US$ 739.61 Mn in coming years. Furthermore, the aerochambers segment is anticipated to hold more than half of the share in North America asthma spacers market.

Asia Pacific market is likely to follow North America market. Asia Pacific marker is likely to scale at a CAGR of 4.5% during the assessment period. The growth rate of asthma market is attributed to continuous development in healthcare sector, and increasing health expenditure.

The global asthma spacers market is highly fragmented in nature. The competitive landscape consists of number of international and regional players. Some of the players operating in the market are Trudell Medical International, Merck & Co., GlaxoSmithKline, Visiomed Group Ltd., Philips N.V, Cipla Ltd., Lupin Pharmaceuticals Inc., Clement Clarke, and AstraZeneca.

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