DUBLIN--(BUSINESS WIRE)--The "Chronic Obstructive Pulmonary Disease Treatment Devices - Market Insights, Competitive Landscape and Market Forecast-2027" report has been added to ResearchAndMarkets.com's offering.
The global chronic obstructive pulmonary disease (COPD) treatment devices market is estimated to grow at a CAGR of 6.37% during the forecast period from 2022 to 2027.
The increase in demand for chronic obstructive pulmonary disease treatment devices is primarily attributed to the rising exposure to air pollution, airborne particles, chemicals & fumes, secondhand smoke, industrial chemicals and dust owing to which the prevalence of COPD is increasing globally.
Further, rise in consumption of tobacco among youth population will increase the risk of respiratory disorders like COPD, asthma ultimately leading to propel the demand of COPD treating devices.
Additionally, the burgeoning demand for short-term and effective treatment in case of attacks, technological advancements in the devices such as production of ideal aerosol particle size & property of providing higher amount of dose, and others, and increasing awareness about the symptoms and treatment of disorders like COPD and asthma across the world are anticipated to bolster the market, thereby contributing to the growth of the chronic obstructive pulmonary disease treatment devices market during the forecast period from 2022-2027.
Chronic Obstructive Pulmonary Disease Treatment Devices Market Dynamics:
The chronic obstructive pulmonary disease treatment devices market is witnessing a growth in product demand owing to various reasons such as the growing prevalence of COPD due to long-term exposure to air pollution, secondhand smoke and dust, fumes and chemicals. Furthermore, rise in consumption of tobacco among youth population is anticipated to bolster the market for chronic obstructive pulmonary disease treatment devices during the forecast period.
For instance, according to the data published by World Health Organization (WHO) 2022, it was estimated that COPD was the third leading cause of death worldwide, causing 3.23 million deaths in the year 2019. Additionally, nearly 90% of COPD deaths were those in patients under 70 years of age in low- and middle-income countries.
Moreover, COPD causes persistent and progressive respiratory symptoms, including difficulty in breathing, cough and phlegm production. The disorder results from long-term exposure to harmful gases and particles combined with individual factors, including events which influence lung growth in childhood and genetics. Early diagnosis and treatment, including smoking cessation support is required to slow down the incidence and mortality rate from the disease. However, the increasing prevalence of COPD will increase the demand of treatment devices such as inhalers and nebulizers, thereby expected to propel the overall market growth of the COPD treatment devices in the forecast period of 2022 - 2027.
The ongoing COVID-19 pandemic had a drastic positive impact on the chronic obstructive pulmonary disease treatment devices market owing to rising burden of the respiratory diseases in COVID-19 pandemic as the viral infection severely affects the lungs. Moreover, it is estimated that people may develop respiratory illness such as COPD and others as an after effect which will surge the demand for the devices among the COVID recovering patients.
Chronic Obstructive Pulmonary Disease Treatment Devices Market Segment Analysis:
Chronic Obstructive Pulmonary Disease Treatment Devices Market by Product Type (Inhalers [Dry Powder Inhaler, Metered Dose Inhaler, and Soft Mist Inhalers] and Nebulizers [Compressor Nebulizer, Ultrasonic Nebulizer, and Mesh Nebulizer]), by End-User (Hospitals & Clinics, Homecare Settings, and Other End Users) and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Chronic Obstructive Pulmonary Disease Treatment Devices Market Key Players:
Some of the key market players operating in the chronic obstructive pulmonary disease treatment devices market include Koninklijke Philips N.V., Omron Healthcare, Inc., Aerogen, PARI GmbH, GF Health Products, Inc., BMC Medical Co., Ltd., Medtronic PLC, Invacare Corporation, Trudell Medical International, Nouvag AG, Timesco Healthcare Ltd., LAICA S.p.A., Vega Technologies Inc., Besco Medical Limited, DeVilbiss Healthcare LLC, Feellife Health Inc., Wellinks, Rossmax International Ltd., Novartis AG, AstraZeneca, GlaxoSmithKline plc, Lupin, Zydus Cadila, Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim International GmbH, Glenmark Pharmaceuticals Limited, LepuMedical Technology(Beijing)Co.,Ltd., Promed Technology Co. Limited, HELTMAN Medikal A.S., Pneuma Respiratory, Cipla Inc., Microlife Corporation, Honsun, among others.
Recent Developmental Activities in the Chronic Obstructive Pulmonary Disease Treatment Devices Market:
- In August 2021, Lupin Healthcare Limited, wholly-owned subsidiary of global pharma major Lupin Limited, announced that the Medicines and Healthcare products Regulatory Agency (MHRA) has approved its Luforbec (beclometasone/formoterol) 100/6 dose pressurized metered dose inhaler (pMDI) for the patients in the UK. Luforbec is indicated for the treatment of adult asthma and for the symptomatic treatment of severe chronic obstructive pulmonary disease (COPD).
- In January 2021, Wellinks, the nebulizer's developer, announced that the wireless nebulizer for use by people with chronic obstructive pulmonary disease (COPD) has been cleared by a review board of the U.S. Food and Drug Administration (FDA).
- In October 2020, Zydus Cadila, Indian multinational pharmaceutical company, announced that they had launched Forglyn pMDI, a pressurized Metered Dose Inhaler (pMDI) with a combination of Long Acting Muscarinic Antagonist (LAMA) and Long Acting Beta Agonist (LABA) for patients suffering from Chronic Obstructive Pulmonary Disease (COPD) in India.
- In July 2020, AstraZeneca's, a global, science-led biopharmaceutical company, announced that its Breztri Aerosphere inhaler has been approved in the US for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD).
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