Global Asthma and COPD Drugs Market Key Insights
During the forecast period of 2023-2035, the global asthma and COPD drugs market is expected to reach an estimated value of ~USD 60 billion by 2035 by expanding at a CAGR of ~5%. The market further generated a revenue of ~USD 36 billion in the year 2022. Major key factors propelling the growth of the asthma and COPD drugs market worldwide are the increasing occurrence of asthma and COPD, along with decreasing quality of air which is majorly affecting the overall environment and human health.
Market Definition of Asthma and COPD Drugs
As of increasing cases of asthma and COPD, various drugs are used to treat the COPD and asthma cases. Asthma is a respiratory disease characterized by contractions in the airways of the lungs, creating difficulty in the breathing process. The occurrence of allergic responses or other forms of hypersensitivity are typically associated with it. COPD is a set of respiratory disorders caused by airway stiffness and difficulty or discomfort in breathing. Corticosteroids, short-acting beta-agonists, and anticholinergic medications can be used to treat and prevent asthma and COPD. In an acute asthmatic episode, the patient has breathing problems as a result of the sudden narrowing of the airways, which is usually caused by allergens. In such cases, bronchodilators deliver immediate relief and can save a patient’s life during an acute asthmatic attack.
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Global Asthma and COPD Drugs Market: Growth Drivers
The growth of the global asthma and COPD drugs market can majorly be attributed to the increasing occurrence of COPD caused by exposure to smoke, dust, or fumes from burning fuels. COPD has been affecting lots of men and women worldwide. As per the World Health Organization statistics, chronic obstructive pulmonary disease (COPD) is the world’s third major cause of death, accounting for 3.23 million fatalities in 2019. On the other hand, the market growth can also be attributed to the rising issue of air quality. Since air quality in the entire world is decreasing owing to increasing levels of pollutants. According to the United States Environmental Protection Agency (EPA), in the United States, around 67 million tons of pollutants were released into the atmosphere in 2021. Such a major issue is another key factor that is increasing the count of asthma and COPD cases across the globe and which in turn is estimated to fuel the market size of asthma and COPD drugs over the forecast period.
The global asthma and COPD drugs market is also estimated to grow majorly on account of the following:
- Increasing Geriatric Population
- Growing Advancement in Technology and Therapies
- Growing Healthcare Expenditure
- Significant Rise in Drug Approval
- Increasing Prevalence of Unhealthy Habits Including Smoking
Global Asthma and COPD Drugs Market: Restraining Factor
Various side effects such as fever, nervousness, allergic reactions, abnormal rapid breathing, and others are allied with the use of asthma and COPD drugs. Hence, this factor is expected to be the major hindrance for the growth of the global asthma and COPD drugs market during the forecast period.
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Global Asthma and COPD Drugs Market Segmentation
- By Age Group (Below 5 years, 5-14 years, 15-60 years, and Above 60 years)
The 15-60 years segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to the highly growing prevalence of asthma and COPD cases in this certain age group. According to the statistics released by the Centers for Disease Control and Prevention (CDC), there were 20,026,722 adults aged 18 and over in the United States who had asthma in 2019.Moreover, the rising adoption of smoking among this age group is estimated to cause more asthma and COPD cases which in turn is predicted to fuel the segment growth.
- By Drug Class (Bronchodilators, Monoclonal Antibodies, Anti-inflammatory Drugs, and Combination Drugs)
- By Route of Administration (Oral, Inhaled, Intravenous, and Subcutaneous)
- By Distribution Channel (Hospital Pharmacies, Online Retailers, and General Pharmacies)
- By End-User (Asthma Patients, and COPD Patients)
- By Region
The North America asthma and COPD drugs market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions backed by the significantly rising proportion of aged people, followed by the increasing ratio of asthma and COPD cases in the region. For instance, Asthma is affecting around 8.7% of all people in the United States every year and each year there are nearly 27 million people in total who are prone to these diseases, comprising 20.6 million adults and 6 million children.
The market research report on global asthma and COPD drugs also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Asthma and COPD Drugs Market
Some of the key players of the global asthma and COPD drugs market are F. Hoffmann-La Roche Ltd., Novartis AG, Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim International GmbH, GlaxoSmithKline plc., AstraZeneca PLC, Chiesi Farmaceutici S.p.A., Merck & Co., Inc., Abbott Laboratories, Sanofi-aventis Groupe, and others.
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