Burlingame, July 25, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “Asthma And COPD Market, By Drug Type (Bronchodilators (Short Acting Bronchodilators, Long Acting Bronchodilators), Anti-Inflammatories (Inhaled Corticosteroids, Leukotriene Modulators and Others), Combination Therapies), By Disease Type (Asthma, and COPD), : Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030.” According to the global asthama and COPD market is estimated to be valued at US$ 35.2 Bn in 2023 and is expected to exhibit a CAGR of 4.9% during the forecast period (2023-2030).
Analysts’ Views on global asthama and COPD market :
Increasing prevalence of asthma and COPD is leading to an increase in demand for asthma and COPD medication drugs . For instance, according to the data shared by The Global Initiative for Chronic Obstructive Lung Disease (GOLD), an organization that works with health care professionals and public health officials around the world to raise awareness of Chronic Obstructive Pulmonary Disease (COPD) and to improve prevention and treatment of this lung disease, on 25 September 2022, an estimated 200 million people had COPD in 2021.
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Global Asthama And COPD Market - Driver
Increasing product approvals
The approvals of newer medications with increased efficiency and technological advancement is expected to drive growth in the market. For instance, on January 11, 2023, Airsupra (albuterol/budesonide), was approved in the U.S. for the treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in people with asthma aged 18 years and older. Airsupra is metered-dose inhaler, fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS). It is being developed by AstraZeneca, a pharmaceutical and biotechnology company and Avillion LLP, a U.K-based drug developer.
Global Asthama And COPD Market- Restraint
Product Recalls
The increasing product recalls of asthma and COPD drugs can restrain the growth of the global asthama and COPD market. For instance, in Septemebr 2021, Perrigo Company plc, a manufacturer of over-the-counter pharmaceuticals, recalled Albuterol inhaler due to the potential clogging of the medical device. Albuterol inhaler is used to open the airways to treat asthma and other respiratory conditions, such as chronic obstructive pulmonary disease (COPD).
Strict compliance with regulatory guuideliens and adopting of Good Manufacturing Practices (GMP) can serve an effective counterbalance against this restraint.
Global Asthama And COPD Market- Opportunity
Growth strategies like partnerships and collaborations by key market players
The increase in growth strategies like partnerships and collaborations by key market players is estimated to cause the growth of the global asthama and COPD market over the forecast period. For instance, on Januray 6, 2023, Phil, Inc., a patient access platform company that specializes in life science product commercialization and Teva Pharmaceutical Industries Ltd., an Israel-based medical company, partnered together to help enable patients to receive and refill its Digihaler medication with ease, by launching the PhilRx Patient Access Platform. Digihaler system is a smart inhaler system that can provide objective inhaler data to help patients and their doctors have informed treatment discussion in support of asthma management. The newly launched platform can help patients fill its prescription, review prescription records, and obtain assistance navigating insurance benefits.
Asthma And COPD Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 35.2 Bn | |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 4.9% | 2030 Value Projection: | US$ 49.1 Bn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., Boehringer Ingelheim International GmbH | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Asthama And COPD Market Cross Sectional Analysis:
Among disease type, asthma segment, is expected to be dominant during the forecast period in North America region due to the increasing drug development and drug discovery activities. For instance, on February 6, 2023, PULMATRiX, Inc., a company committed to the development and commercialization of novel and transformational medicines for patients all over the world, announced that the first patient had been dosed in a Phase IIb trial evaluating safety and efficacy of PUR1900 in subjects with Allergic Bronchopulmonary Aspergillosis (ABPA) and asthma. PUR1900 is the company's iSPERSE-enabled dry powder formulation of itraconazole, developed for inhaled pulmonary delivery.
Global Asthama And COPD Market Segmentation:
The global asthama and COPD market report is segmented into drug type, disease type, distribution channel, and region.
By Drug Type, the market is segmented into bronchodilators, anti-inflammatories and combination therapies. Out of which, the bronchodilators segment is expected to hold a dominant position in the global asthama and COPD market during the forecast period and this is attributed to its enhanced bioavailability.
By Disease Type, the market is segmented into asthma and COPD. Out of which, the asthma segment is expected to hold a dominant position in the global asthama and COPD market during the forecast period and this is attributed to the growing prevalence of the disease globally.
By Distribution Channel, the market is segmented hospital pharmacies retail pharmacies and online pharmacies. Out of which, the hospital pharmacy segment is expected to dominate the market over the forecast period and this is attributed to the increasing hospitalizations caused by asthma and COPD all over the world
By Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, the hospital segment is expected to dominate the market over the forecast period and this is attributed to the increased product launches regarding asthma and COPD in the region.
Among all the segmentations, the disease type segment has the highest potential due to the increasing prevalence of the disease. For instance, according to the data shared on March 20, 2023, by PubMed, a free search engine for biological databases, more than 300 Mn peple around the world were living with asthma in 2022.
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Global Asthama And COPD Market: Key Developments
Launch of new drug therapies with regards to asthma and COPD are enhancing the growth of the global asthama and COPD market. For instance, in May 2020, GLENMARK PHARMACEUTICALS LTD, a pharmaceutical and biotechnological company, launched 3-in-1 inhaler for COPD patients in India. The product is a combination of two bronchodilators, glycopyrronium and formoterol and the inhalation corticosteroid fluticasone propionate.
Key Market Takeaways:
The global asthama and COPD market is expected to exhibit a CAGR of 4.9% during the forecast period due to the increasing number of product approvals by respective regulatory bodies. For instance, in September 2020, GSK plc, a pharmaceutical company and Innoviva, a biopharmaceutical and biotechnological company, announced that the U.S. Food and Drug Administration (FDA) had approved a new drug called Trelegy Ellipta (fluticasone furoate / umeclidinium / vilanterol ‘FF/UMEC/VI’) for the treatment of asthma in patients aged 18 years and older for the use of asthma and COPD.
Among disease type, asthma segment is estimated to dominate the market over forecast period, owing to the increasing product launches with respect to the disease. For instance, according to the data published in December 2022, by PubMed, a free search engine for biological databases, over 34 million people in India alone had asthma.
Among region, North America segment is estimated to dominate the market over forecast period, owing to the increasing R&D activities in the region. For instance, on April 25, 2023, Arrowhead Pharmaceuticals, Inc., a U.S-based biopharmaceutical company, announced positive interim results from an ongoing Phase 1/2 clinical study of ARO-RAGE, the company’s investigational RNA interference (RNAi) therapeutic designed to reduce production of the receptor for advanced glycation end products (RAGE) as a potential treatment for inflammatory pulmonary diseases, such as asthma.
Competitive Landscape:
Key players operating in the global asthama and COPD market are include AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., and Boehringer Ingelheim International GmbH.
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Detailed Segmentation:
Global Asthma And COPD Market, By Drug Type:
- By Drug Type
- Bronchodilators
- Short Acting Bronchodilators
- Long Acting Bronchodilators
- Anti-Inflammatories
- Inhaled Corticosteroids
- Leukotriene Modulators
- Others
- Bronchodilators
- Combined Therapies
Global Asthma And COPD Market, By Disease type:
- By Disease Type
- Asthma
- COPD
Global Asthma And COPD Market, By Dsitribution Channel:
- Hospital Pharmacies
- Retail Pharemacies
- Online Pharmacies
Global Asthma And COPD Market, By Region:
- NorthAmerica
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
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