What is the global market size of the COPD and Asthma Devices Market?

COPD and Asthma Devices Market was valued at USD 46.50 billion in 2022, and is poised to grow from USD 48.78 billion in 2023, to USD 71.52 Billion by 2031 at a CAGR of 4.90% during the forecast period (2024-2031).

COPD and Asthma Devices Market Updates

COPD and Asthma Devices Market News

In October 2022, the medical device business Acurable, located in the UK, recently revealed that Kibo Ventures, the round's lead investor, had helped the firm raise $10.8 million. The company plans to use the funding to quicken the international growth of the AcuPebble SA100, its first at-home sleep diagnostic gadget that allows users to identify and track obstructive sleep apnea. Additionally, Acurable will create fresh treatments for cardiovascular problems, asthma, and chronic obstructive pulmonary disease (COPD).

In March 2022, Alkem introduced the Innohaler, a DPI device, to help Asthma and COPD (Chronic Obstructive Pulmonary Disease) patients live more comfortably and to close existing gaps in Asthma care in India. Alkem is entering the core inhalation treatments with the introduction of this device and anticipating that the medication will reach the lungs effectively with each inhalation with increased patient awareness and an adherence programme.

FAQs

Global COPD and Asthma Devices Market size was valued at USD 48.78 billion in 2023 and is poised to grow from USD 51.17 billion in 2024 to USD 75.03 billion by 2032, growing at a CAGR of 4.9% during the forecast period (2025-2032).

Global COPD and Asthma Devices Market is highly competitive and fragmented due to the presence of a few prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Major players include AstraZeneca, Boehringer Ingelheim, GlaxoSmithKline, Merck & Co. and Philips Healthcare among others. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'AstraZeneca Plc. (United Kingdom) ', 'GlaxoSmithKline Plc. (United Kingdom) ', 'Merck & Co., Inc. (United States) ', 'Novartis AG (Switzerland) ', '3M Company (United States) ', 'Baxter International Inc. (United States) ', 'ResMed Inc. (United States) ', 'Teva Pharmaceutical Industries Ltd. (Israel) ', 'Cipla Ltd. (India) ', 'Omron Healthcare, Inc. (Japan) ', 'Invacare Corporation (United States) ', 'Masimo Corporation (United States) ', 'Nihon Kohden Corporation (Japan) ', 'Getinge AB (Sweden) ', 'Smiths Medical (United Kingdom) ', 'Allied Healthcare Products, Inc. (United States) ', 'Aerogen Ltd. (Ireland) ', 'PARI Medical Holding GmbH (Germany) '

The prevalence of respiratory conditions including COPD, asthma, and emphysema is on the rise. Additionally, there is a growing need for short-term, effective treatment as well as a growing requirement for rescue medication during abrupt asthmatic attacks. Additionally, the government's measures to raise awareness of the signs of COPD and asthma, as well as manufacturers' increased focus on the development of innovative, portable inhalation devices, are anticipated to spur market expansion.

Clinical pharmacy has a lot of opportunities with digital inhalers. Inhalers have long been a go-to for those with chronic respiratory illnesses. They constitute an interesting therapeutic option since they can administer medication directly to the lungs and avoid systemic adverse effects. Medical professionals still have trouble treating COPD and asthma (COPD). Inhaler efficacy may be lowered by poor adherence and incorrect technique. Incorrect inhaler technique and non-adherence are associated with worsening dyspnea, deteriorating health, and exacerbations of existing conditions.

North America dominated the Global COPD and Asthma Devices Market in 2021 on account of the increased prevalence of asthma and COPD together with a developed healthcare system and growing public awareness. According to the Asthma and Allergy Foundation of America (AAFA), around 1 in 13 Americans (or about 25 million individuals) had asthma in 2021, and 11 people died from the condition every day. The market is anticipated to have considerable expansion in the next years as a result of the high death rates linked to asthma and rising investment in asthma treatment in this nation. Additionally, the presence of significant market players and the development of product technologies are promoting market expansion in the area.