Asthma & COPD Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: October 12, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 33 billion |
|
Revenue forecast in 2030 |
US$ 51.3 billion |
|
Growth Rate |
CAGR of 4.5% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Segments covered |
by disease type, drug class, distribution channel, and region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global asthma & COPD drugs market was pegged at US$ 33 billion in 2021 and is expected to witness a CAGR of 4.5% during the forecast period.
Market Fundamentals
Asthma is a respiratory disorder characterized by bronchial spasm symptoms that make breathing difficult. It frequently has an association with allergic reactions or other types of hypersensitivity. A combination of respiratory conditions known as COPD cause constricted airways and discomfort or difficulty breathing. Breathing becomes difficult when someone has asthma or chronic obstructive pulmonary disease (COPD). They have a lot in common symptoms. However, they are distinct lung conditions. Patients who show signs of asthma and COPD are said to have asthma-COPD overlap syndrome (ACOS).
Asthma and COPD can be treated and prevented with corticosteroids, short-acting beta-agonists, anticholinergic medications, and others. During an acute asthmatic episode, the patient has trouble breathing because the bronchi unexpectedly narrow, usually due to allergens. Bronchodilators provide immediate relief during an asthma attack and may even save the patient's life.
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Market Dynamics
The main factors driving the global market for asthma and COPD drugs remain an aging population and rising industrial and automobile exhaust gas levels. In the developing nations of China, India, Brazil, and Russia, poor populations are more likely to develop asthma due to decreased air quality around industrial zones. Asthma pumps and sprays are being used more frequently in emerging economies and developing nations in Latin America, the Middle East, and Africa due to rising disposable income levels in these regions.
Market Ecosystem
The global asthma & COPD market has been analyzed by disease type, drug class, distribution channel, and region.
Asthma & COPD Drugs Market by Disease Type
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Based on disease type, global asthma & COPD drugs market has been segmented into asthma and COPD. The asthma segment possessed a dominant position, and this trend is anticipated to continue during the forecast period due to an increase in asthma patients. The usage of cigarettes is dramatically rising, which makes asthma symptoms worse. The prevalence of asthma has also increased along with industrialization, which could raise the demand for asthma medications. Furthermore, because of improvements in COPD therapy, the COPD category is anticipated to rise significantly during the projected period.
Asthma & COPD Drugs Market by Drug Class
Based on drug class, the global asthma & COPD drugs market has been segmented into bronchodilators, anti-inflammatory drugs, monoclonal antibodies, and combination drugs. The asthma & COPD drugs market was dominated by combination drugs. The bronchodilators are sub-segmented into short-acting beta-2 agonists, long-acting beta-2 agonists, and anticholinergic agents. The anti-inflammatory drugs are also sub-segmented into oral and inhaled corticosteroids, anti-leukotrienes, phosphodiesterase type-4 inhibitors. Over the past years, the use of drugs and medication combinations to treat various illnesses has significantly expanded. According to multiple research studies, patients with COPD and asthma can now benefit from combination drugs. However, the market for asthma and COPD drugs will have its fastest growth in the inhaled corticosteroids (ICS) segment. The inhaled corticosteroids (ICS) improve lung function and prevent asthma episodes.
Asthma & COPD Drugs Market by Distribution Channel
Based on distribution channels, the global asthma & COPD drugs market has been segmented into hospital, retail, and online pharmacies. The hospital segment dominated the global asthma and COPD drugs market, mainly due to greater patient footfall and the availability of better healthcare services.
Asthma & COPD Drugs Market by Region
Based on region, the global asthma & COPD drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the global asthma and COPD drugs market. The increased incidence of asthma and COPD is the primary driver of the market for asthma and COPD drugs in North America. In the United States, adult women are more likely to have asthma than adult men. The Centers for Disease Control predict that roughly 25 million Americans will have asthma by 2020. This translates to about one in every thirteen Americans, with children making up 7% of this group and adults 8%. Around 20 million Americans have asthma. As a result, the North American market for asthma and COPD medications is expanding due to the increase in asthma patients.
Throughout the forecast period, Europe is expected to be second-largest asthma & COPD drugs market. The rising awareness of asthma and COPD in Europe is projected to contribute to the rise of the regional market.
Competitive Landscape
Some of the prominent market players in the global asthma & COPD drugs include
Strategic development
The asthma drugs segment dominated the market during forecast period.
The prominent market players in the global asthma & COPD drugs include GlaxoSmithKline PLC, Amgen, Inc., Abbott Laboratories, Merck & Co. Inc. and others.
To expand their market shares, the market players are using various strategies, including new launches, developments, collaborations, acquisitions, and expansions.
The increasing aging population, technological advancements, and increased asthma and COPD prevalence are prime factors for the expansion of the market.
North America dominated the asthma and COPD drug market, followed by Europe.
*Insights on financial performance are subject to the availability of information in the public domain