Global COPD Therapeutics Market Size, Forecast, and Trend Highlights Over 2022 – 2031
The global COPD therapeutics market is estimated to garner revenue of USD 30 Billion by the end of 2031 by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. Further, the market generated revenue of USD 20 Billion in the year 2021. The growth of the market can be attributed primarily to the rising prevalence of chronic obstructive pulmonary disease (COPD) which is affecting millions of people worldwide. According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the third most common cause of death worldwide, which accounted for 3.23 million deaths in 2019. About 90% of COPD deaths among those under the age of 70 years are associated with low- and middle-income countries. As a result of increasing burden of this disease, the global COPD therapeutics market size is expected to enlarge during the forecast period.
Chronic obstructive pulmonary disease is obstructive pulmonary diseases that affect the lungs and cause breathing difficulty and excessive coughing. The two most common types of COPD are chronic bronchitis and emphysema. The diseases can damage parts of the lungs, block airways with mucus, and cause soreness and inflammation. In addition, increasing cases of asthma worldwide are expected to drive the global COPD therapeutics market. As per the data by the World Health Organization, a total of 262 million people were affected by asthma in 2019 and 455 000 people died from it. Asthma is a chronic inflammatory lung disease that affects the airways and is primarily caused by allergies, irritants, cold air, and dust. Airborne allergens, irritants, extreme weather conditions, harmful gases, chemicals, multiple lower respiratory infections in childhood, and an unhealthy lifestyle are all expected to drive the global COPD therapeutics market. Moreover, global COPD therapeutics market trends such as increasing utilization of digital inhalers and Combination therapy treatment such as LAMA-ICS, LABA-ICS, and triple therapy are projected to drive market growth during the forecast period.
Global COPD Therapeutics Market: Growth Drivers and Challenges
Growth Drivers
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Increasing Consumption Of Tobacco via Smoking around the World- The World Health Organization reports that, Approximately 7 million deaths are caused by direct usage of tobacco. Around 1.3 billion people use tobacco worldwide, with over 80% living in low- and middle-income countries. Nearly 22.3% of the global population, 36.7% of men, and 7.8% of women smoked tobacco in 2020. Consumption of tobacco causes various respiratory diseases. Smoking has become increasingly popular among adults throughout the world. As a result of cigarette smoke, the lungs ability to fight infections is impaired, the airways narrow and the air sacs swell. These factors contribute to the development of COPD. Thus, increasing users of tobacco smokers are expected to drive global COPD therapeutics market during the forecast period.
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Awareness-Raising Initiatives About COPD- For instance, GOLD is a non-profit organization that raises awareness about COPD. Every 3rd Wednesday of November, GOLD organizes World COPD Day, in collaboration with healthcare professionals worldwide.
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Rising Spending On Healthcare In The World - As reported by the World Bank, current healthcare expenditures reached 9.83% of GDP in 2019 from 9.7% in 2018. Data includes the annual consumption of healthcare goods and services. In emerging economies, COPD treatments are becoming more popular owing to rising healthcare expenditures. The increase in awareness contributed to early diagnosis of COPD, which has improved treatment options. This factor is expected to drive market growth during the forecast period.
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Escalating Number of Elderly People Around the World- A recent report from the World Bank shows that there were 747,238,580 geriatric people in the world at the end of 2021 and people above 60 years are expected to grow in coming years.
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Growing Incidences of Emphysema Worldwide - As reported by the National Center for Biotechnology Information, there are approximately 14 million people living with emphysema in the United States, including 14% of white male smokers and 3% of white male nonsmokers.
Challenges
- Health Complications Associated With Respiratory Drugs
- Strict Government Approval Process For COPD Treatment
- Challenges Faced by the Development of New Respiratory Medicines
The global COPD therapeutics market is segmented and analyzed for demand and supply by age group into below 5 years, 5-14 years, 15-60 years, and above 60 years. Among these segments, the 15-60 years segment is anticipated to capture the largest market size in the global COPD therapeutics market owing to the growing prevalence of asthma and COPD among this age group. As per the data by the Centers for Disease Control and Prevention, a total of 21,030,479 (8.4%) adults aged over 18 years were diagnosed with asthma in the United States in 2020, which was a significant increase over the previous year. Moreover, almost ~2 million adults aged over 18 years had emphysema in 2018, a common COPD condition in the United States. Thus, the rising prevalence of COPD conditions among adults is anticipated to drive segment growth during the forecast period.
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global COPD Therapeutics Market Regional Synopsis
Regionally, the global COPD therapeutics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031. Well-developed health care industry, comprehensive research & development, strong reimbursement policies as well as a large number of market key players in the region encouraging advanced and efficient products are factors expected to drive the COPD therapeutics market in the region during the forecast period. Furthermore, the increasing incidence of chronic obstructive pulmonary disease and asthma in the region along with the growing patient population is anticipated to drive the regional market over the forecast period. For instance, in 2020, there were 25,257,138 people suffering from asthma in the region. In addition, in 2018, chronic lower respiratory disease (COPD) ranked as the fourth leading cause of death in the United States. There were almost 15.7 million Americans (6.4%) who have been affected by COPD in 2018.
The global COPD therapeutics market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- 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), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Market Segmentation
Our in-depth analysis of the global COPD therapeutics market includes the following segments:
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By Drug Class |
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By Type |
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By Age Group |
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By End User |
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Top Featured Companies Dominating the Global COPD Therapeutics Market
- Almirall, S.A
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- AstraZeneca PLC
- Boehringer Ingelheim International GmbH
- CHIESI Farmaceutici S.p.A.
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline plc
- Kyowa Kirin Co., Ltd.
- Mylan N.V.
- Novartis AG
- Orion Corporation
