Worldwide COPD and asthma devices market to reach USD 41,355.2 million by 2022
According to a market research report published by Allied Market Research, the global COPD and asthma devices market is projected to reach USD 41,355.2 million by 2022. The key factors driving the growth of the market include increasing prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma and emphysema; growing need for rescue medication during sudden asthmatic attack; and increasing demand for short-term, effective medication and increasing focus of manufacturers towards the development of advanced and portable inhalation devices. However, environmental risks associated with metered dose inhalers (MDI) and high cost of some inhalation devices may limit the expansion of the market. Among the various segments of the devices, the drug powder inhalers (DPIs) segment is expected to grow at a significant CAGR of 5.7%. North America led the market in 2015 and would continue its dominance over the forecast period. The market in Europe is estimated to grow at a CAGR of 6.1%. The compressor nebulizers segment is expected to register a CAGR of 5.4%. The Asia-Pacific region is expected to grow rapidly. GlaxoSmithKline, Novartis, Merck, Philips Healthcare, 3M Health Care and Baxter are the key product manufacturing companies.