The increasing cases of COPD and strategic initiatives in COPD devices bolster the market size of COPD devices. However, the high cost associated with COPD devices hinders market growth.

Increasing Product Development Activities to Fuel COPD Devices Market Growth During Forecast Period

With new medical knowledge and effective medicines, treatment with a wide range of asthma inhalers continues to advance. The rising use of ventilator combination therapies and increasing investments by major players in developing sophisticated ventilator inhalers are boosting the demand for respiratory inhalers. There are numerous advantages of using COPD devices such as portability, convenience, and effectiveness. In addition, rise in the number of product launches, approvals, and developments is expected to strengthen the demand for COPD devices in the coming years. A few of the major developments and approvals are listed below:

• In November 2022, AstraZeneca partnered with Avillion to develop PT027, an asthma rescue inhaler. PT027 is a pressurized MDI that delivers a fixed dose of two combined asthma medications: albuterol—a short-acting beta2-agonist—and budesonide, an anti-inflammatory inhaled corticosteroid.
• In April 2022, GlaxoSmithKline Pharmaceuticals Limited launched Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol) in India. It is the first single-inhaler triple therapy (SITT) for COPD patients in a once-daily regime. The product was also approved by the Drugs Controller General of India (DCGI) for consumption of Trelegy Ellipta as a maintenance treatment for preventing and relieving symptoms related to COPD in patients aged 18 and above.
• In June 2021, Glenmark Pharma launched Tiotropium Bromide Dry Powder Inhaler, used to treat COPD in the UK.
• In December 2020, AireHealth, an innovative digital health company, received 510(k) clearance for its connected nebulizer. The device is portable and has an electronic vibrating mesh nebulizer that is designed to nebulize liquid medications for inhalation for a patient in and out of the home and will be marketed under VitalMed.
• In September 2020, GlaxoSmithKline plc and Innoviva, Inc. received FDA approval for Trelegy Ellipta as the first kind of once-daily single inhaler triple therapy for patients suffering from COPD in the US.

Thus, increasing product development activities by various market players and a rise in product approvals are likely to catalyze the growth of the global COPD devices market during the forecast period.

North America held the largest share of the global COPD devices market in 2022 owing to the increasing technological advancements, rising number of COPD cases, government support for the growing product pipeline, and the wide presence of major market players involved in new and existing product developments. However, Asia Pacific is predicted to register the highest CAGR during the forecast period. The US held North America’s largest share of the COPD devices market in 2022. The increasing incidence of respiratory disease, product launches, and government initiatives mainly drives the growth of the COPD devices market in the US. This market’s future growth is likely to be attributed to the increasing prevalence of respiratory disorders. Also, chronic obstructive pulmonary disease (COPD) is a major health burden in the US. COPD is caused by obstruction of airflow from the lungs, which can lead to chronic inflammatory lung disease. Smoking is one of the primary causes of COPD in the US. The growing preference for smoking in the US is driving the growth of the COPD devices market. According to the Centers for Disease Control and Prevention (CDC), ~14.8 million adults in the US suffer from COPD. Furthermore, per the Administration for Community Living, people aged 65 years and above in the US accounted to be 54.1 million, which contributes to 16% of the total population, and it is expected to reach 21.6% by 2040. Older adults are extremely susceptible to chronic respiratory diseases. Thus, a rise in the older population is also expected to boost the demand for respiratory inhalers during the forecast period. Moreover, favorable reimbursement policies are projected to create several opportunities for the growth of the COPD devices market in the region.

COPD Devices Market: Competitive Landscape and Key Developments

AstraZeneca PLC, Beximco Pharmaceuticals Ltd, Getinge AB, Boehringer Ingelheim, GSK Plc, Medtronic PLC, Nephron Pharmaceuticals, Novartis AG, Sunovion Pharmaceuticals Inc, and Teva Pharmaceuticals are a few key companies operating in the COPD devices market. Market players adopt product innovation strategies to meet evolving customer demands, maintaining their brand names in the COPD devices market.

A few of the recent developments in the global COPD devices market are mentioned below:

• In November 2023, Astellas Pharma Inc. acquired Propella Therapeutics Inc. along with PRL-02 (abiraterone decanoate), a next-generation androgen biosynthesis inhibitor developed by Propella to treat prostate cancer.
• In February 2023, Fusion Pharmaceuticals Inc. announced the acquisition of RadioMedix, Inc. The investigational new drug application (IND) for the ongoing Phase 2 clinical trial (the “TATCIST” trial) is used to evaluate 225Ac-PSMA I&T, which is a small molecule that targets prostate-specific membrane antigen (“PSMA”) expressed in prostate cancers. Due to this acquisition, the alpha-emitting radiopharmaceutical was evaluated in the TATCIST trial and will be known as FPI-2265.
• In December 2020, Yovant Sciences and Pfizer Inc. collaborated to develop and manufacture relugolix, an oral gonadotropin-releasing hormone (GnRH) receptor antagonist that is regularly administered once. It is used to improve health and help in the oncology treatment of women across the US and Canada. Pfizer also received an exclusive option for the commercialization of relugolix in oncology treatment outside the US and Canada, excluding a few Asian countries.