The global asthma and COPD drugs market is estimated to garner modest revenue by growing at a CAGR of 3.5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to high prevalence and incidence of asthma and COPD among the population. COPD is majorly witnessed in low- and middle-income countries, where over 80% of the global deaths from COPD, in 2019, were recorded. According to the World Health organization, COPD is the third leading cause of death worldwide, causing 3.23 million deaths in 2019. Furthermore, decreasing environmental air quality, and presence of harmful gases and particles combined with individual factors are also expected to drive the market growth.
Get more information on this report: Request Sample PDF
Asthma and chronic obstructive pulmonary disease (COPD) are obstructive pulmonary diseases which causes persistent and progressive respiratory symptoms, including difficulty in breathing, cough and/or phlegm production. They may cause destruction to parts of the lung, mucus blocking the airways, and inflammation and swelling of the airway lining.
However, side effects associated with respiratory drugs, such as allergic reactions, bleeding into the lung air sacs, etc., are expected to restrain the growth of the market. Moreover, stringent government regulatory requirements for the approval of asthma and COPD drugs are further hindering the market growth.
The market is segmented by drug class into bronchodilators, monoclonal antibodies, anti-inflammatory drugs, and combination drugs, out of which, the combination drugs segment is anticipated to hold the largest share over the forecast period owing to wide availability.
Based on route of administration, the market is segmented into oral, inhaled, intravenous, and subcutaneous, out of which, the inhaled segment is projected to witness growth at the highest rate during the forecast period owing to high adoption and production of inhalers.
On the basis of age group, the market is segmented into below 5 years, 5-14 years, 15-60 years, and above 60 years, among which, the 15-60 years segment is estimated to hold the largest share over the forecast period on the back of high prevalence of asthma and COPD in this age group. For instance, according to the Centers for Disease Control and Prevention (CDC), there were a number of 20,026,722 adults, aged 18+, who had asthma in the United States in 2019.
The global asthma and COPD drugs market is further segmented on the basis of distribution channel into general pharmacies, hospital pharmacies, and online retailers, out of which, the general pharmacies segment is estimated to witness the highest growth over the forecast period. The growth of the segment is attributed to robust count of general pharmacies.
Further, on the basis of end-user, the market is segmented into asthma patients, and COPD patients, out of which, the asthma patients segment is anticipated to hold the largest share over the forecast period on the back of high count of patients suffering from asthma. Asthma is a major global health concern, and in 2019, an estimated number of 262 million people has asthma, as per the World Health Organization.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global asthma and COPD drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of high prevalence of asthma and COPD in this region, aging population, and the presence of prominent market players. According to statistics by the Centers for Disease Control and Prevention (CDC), there were a total number of 25,131,132 asthma patients in the United States in 2019.
Asia-Pacific region is projected to witness market growth at the highest rate over the forecast period. Availability of vast patient pool, presence of geriatric population and developing healthcare infrastructures are the prime factors supporting the market growth in the region. Moreover, a deteriorating environment due to industrial, traffic-related, and household biomass combustion, indoor pollutants from chemicals, phthalates, and tobacco are leading to an increase in allergic diseases to epidemic proportions in the region, which is further driving the growth of the market.
Get more information on this report: Request Sample PDF
The global asthma and COPD drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the global asthma and COPD drugs market includes the following segments:
By Distribution Channel
FREQUENTLY ASKED QUESTIONS
High prevalence and incidence of asthma and COPD, decreasing environmental air quality, and presence of harmful gases and particles combined with individual factors are the major factors driving the growth of the market.
The market is anticipated to attain a CAGR of 3.5% over the forecast period, i.e., 2022-2031.
The major players in the market are GlaxoSmithKline plc., AstraZeneca, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd., Novartis AG, Sanofi, CHIESI Farmaceutici S.p.A., Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Abbott, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by drug class, route of administration, age group, distribution channel, end-user, and by region.
The inhaled segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
Side effects associated with respiratory drugs, and stringent government regulatory requirements for the approval of asthma and COPD drugs are estimated to hamper the market growth.
Asia Pacific region is estimated to provide significant business opportunities for growth of the global asthma and COPD drugs market.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization