Asthma and COPD Devices Market Size, Share | 2032

Report Description

Asthma and COPD Devices Market Outlook 2032

The global asthma and COPD devices market size was USD 47.1 Billion in 2023 and is projected to reach USD 73.7 Billion by 2032, expanding at a CAGR of 5.1% during 2024–2032. The market growth is attributed to the increasing prevalence of respiratory diseases such as asthma and COPD across the globe.

Increasing awareness of respiratory health and advancments in medical technology boosted the asthma and COPD devices market. These devices are finding applications across various sectors with an expanding consumer base, including caregivers, healthcare professionals, and wellness enthusiasts seeking effective solutions for respiratory management. Moreover, the increasing death rates caused by chronic respiratory diseases are expected to boost the demand for preventive healthcare devices, such as asthma and COPD devices.

• According to the report published by the Centers for Disease Control and Prevention on March 13, 2023, states that approximately 142,342 people died from chronic lower respiratory diseases. The report also highlights that there were 42.9 deaths per 100,000 population due to these types of respiratory diseases.

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Impact of Artificial Intelligence (AI) in the Asthma and COPD Devices Market

The use of artificial intelligence is likely to boost asthma and COPD devices market. AI algorithms are increasingly integrated into medical devices to enhance diagnostic accuracy and optimize patient outcomes. Moreover, AI-enabled inhalers and nebulizers offer real-time feedback on inhalation techniques to empower patients to actively engage in self-management and improve treatment compliance.

Asthma and COPD Devices Market Dynamics

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Major Drivers

Rising prevalence of respiratory diseases, such as asthma and COPD globally is anticipated to drive the market during the forecast period. High number of individuals diagnosed with chronic respiratory conditions are seeking asthma and COPD devices. For instance, as per the report published by the WHO on May 4th, 2023, approximately 262 million people gloally are currently suffering from asthma. Moreover, a growing preference for home-based healthcare devices is expected to boost demand for asthma and COPD devices.

Existing Restraints

High cost of advanced asthma and COPD devices is expected to hinder the market during the forecast period. Financial burdens associated with purchasing these devices, particularly for patients with budget restraints affect the demand for such devices. Moreover, the limited awareness and accessibility of asthma and COPD devices in certain regions further hinder the market.

Emerging Opportunities

­Ongoing investment and development activities are expected to create immense opportunities for the players competing in the market in the coming years. Pharmaceutical companies and medical device manufacturers are allocating large resources to develop novel therapies and diagnostic tools for asthma and COPD management. Furthermore, collaboration efforts between private companies and research organizations to accelerate the pace of innovation to bring new solutions further propel the market.

Scope of the Asthma and COPD Devices Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.

Asthma and COPD Devices Market Segment Insights

Product Segment Analysis

Based on product, the asthma and COPD devices market is divided into nebulizers and inhalers. The inhaler segment held a major share of the market in 2023, as they are easy to use, portable, and effective in delivering medication directly to the lungs.

Inhalers are popular among patients for their convenience and quick onset of action against managing acute symptoms and providing relief during asthma and COPD exacerbations. Moreover, the widespread availability of a variety of inhaler formulations, including bronchodilators, corticosteroids, and combination therapies further contributes to their growing demand.

The nebulizer segment is expected to expand at a significant growth rate in the coming years, owing to the increasing geriatric and pediatric population suffering from respiratory diseases. Nebulizers offer a convenient and effective alternative for delivering medication in a mist form. This makes them suitable for patients with severe respiratory symptoms or those unable to coordinate inhalation with traditional inhaler devices. Furthermore, the technological advancements in nebulizer design, such as portable and battery-operated models further boosts the segment.

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Indication Segment Analysis

On the basis of indication, the global market is segregated into chronic obstructive pulmonary disease and asthma. The asthma segment is anticipated to expand at a substantial CAGR during the forecast period, as this type of respiratory condition affects a large portion of the population.

Environmental pollution and genetic predisposition are among the factors causing asthma among individuals, thereby propelling the demand for asthma-specific devices such as inhalers and peak flow meters. Moreover, the technological advancements in smart inhalers and digital health solutions are further propels the utilization of these devices among asthmatic patients.

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Regional Outlook

In terms of region, the global asthma and COPD devices market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America held a major market share in 2023, due to advanced healthcare infrastructure and the growing prevalence of respiratory diseases in the region. Additionally, increasing awareness about respiratory health and favorable reimbursement policies for respiratory and asthma inhaler devices further fuel the market in this region.

• According to a report by the American Lung Association on November 27, 2023, over 34 million Americans are living with chronic lung diseases, such as asthma and COPD.

The market in Asia Pacific is projected to expand at a significant pace in the years to come, owing to the presence of a large population base and improving healthcare infrastructure in countries, such as China, India, and Japan to support the adoption of these types of devices. Moreover, the rising number of patients suffering from respiratory diseases caused by environmental factors and lifestyle changes are expected to further boost the market during the forecast period.

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