(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The "Chronic Obstructive Pulmonary disease (COPD) and Asthma Devices market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for chronic obstructive pulmonary disease (COPD) and asthma devices is experiencing a significant growth trajectory, with expectations to rise from $42.49 billion in 2023 to $44.95 billion in 2024, marking a robust compound annual growth rate (CAGR) of 5.8%. The sector has been strengthening due to a host of factors, such as an aging population, an uptick in allergy prevalence, government actions promoting respiratory health, a surge in clinical research, and increasing urbanization.
Future Market Outlook
Forecasts for the market signal a continuation of growth momentum, reaching an estimated $57.08 billion by 2028 at a CAGR of 6.2%. This positive trend is attributed to the escalating number of respiratory ailments, higher instances of cigarette smoking, a climb in environmental pollution levels, substantial healthcare investments, and technological advancements in drug delivery systems.
Innovation and Acquisitions Fuel Industry Growth
The industry's forward march is marked by cutting-edge technological solutions and strategic acquisitions. Innovations in inhalation devices incorporating digital health technologies are playing a pivotal role in advancing personalized treatment options and remote patient monitoring. Companies are also making significant moves through acquisitions to bolster their technological capabilities in drug delivery and to pioneer the development of reduced-risk and non-combustible product alternatives.
Regional Market Insights
In 2023, North America stood as the preeminent region in the COPD and asthma devices market. Other regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, also contribute substantially to the global market dynamics. The COPD and asthma devices sphere encompasses a diverse range of devices, such as metered dose inhalers, dry powder inhalers, and nebulizers, addressing various patient demographics from pediatric to geriatric and ensuring improved quality of life for those afflicted with respiratory conditions.
The steady increase in the adoption of advanced treatment devices underscores the industry's commitment to addressing the complex needs of patients with respiratory diseases. As the global population contends with the rising burden of such illnesses, the COPD and asthma devices market remains essential in providing critical healthcare solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $44.95 Billion |
| Forecasted Market Value (USD) by 2028 | $57.08 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Companies Featured
AstraZeneca Plc Novartis AG GlaxoSmithKline Plc 3M Health Care Boehringer Ingelheim Royal Philips NV Teva Pharmaceuticals Industries Ltd. Baxter International Inc. Omron Corporation Smiths Medical Inc. Recipharm AB Cipla Ltd. Teleflex Incorporated Chiesi Farmaceutici SpA Lincre Holdings Inc. Sunovion Pharmaceuticals Inc. Verona Pharma plc Drive DeVilbiss Healthcare Pari Respiratory Equipment Inc. Allied Healthcare Products Inc. Clement Clarke International Ltd. Cohero Health Inc. Pneuma Respiratory Inc. Mundipharma International Ltd.
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Chronic Obstructive Pulmonary Disease (COPD) and Asthma Devices Market
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