Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: May 04, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 12.45 billion |
|
Revenue Forecast in 2031 |
US$ 19.31 billion |
|
CAGR |
5% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Drug class, Therapy Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global chronic obstructive pulmonary disease (COPD) therapeutics market was valued at US$ 12.45 billion in 2022 and is expected to register a revenue CAGR of 5% to reach US$ 19.31 billion by 2031.
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Fundamentals
Chronic obstructive pulmonary disease therapeutics refer to the various medical treatments used to manage the symptoms and slow the progression of chronic obstructive pulmonary disease. Chronic obstructive pulmonary disease is a chronic inflammatory lung disease that causes obstructed airflow from the lungs, and it is typically managed with a combination of medications. The goals of chronic obstructive pulmonary disease therapeutics are to reduce symptoms such as shortness of breath and cough, improve quality of life, prevent exacerbations, and slow disease progression. The specific therapeutic approach used may vary depending on the severity of the disease and individual patient factors, and treatment may involve a combination of different medications and therapies.
The research study on the chronic obstructive pulmonary disease (COPD) therapeutics market overview thoroughly analyzes the market and the aspects that either help or hinder the market's growth, such as its drivers, challenges, and opportunities. The research also discusses the list of businesses that operate in this market and their efforts to establish themselves as major players through expansion plans and innovative ideas. It also emphasizes current events that support the market's revenue expansion. The research also analyses how the COVID-19 pandemic has affected society.
This report is an important tool for the industry stakeholders to gather all the information about the market, customers, and competition. The report also provides the readers with valuable insights on the segmentation, regions, market size & forecast, revenue CAGRs, and other valuable data to help make informed strategic decisions. The study compiles information gathered from industry participants and specialists across the industry value chain. The report also taps into the qualitative and quantitative assessments by industry analysts. Our reports use different methods for estimating the market size and forecast, including secondary research, surveys and interviews, and statistical modeling. With these steps, our reports provide the most accurate market data. These datasets will cumulatively provide in-depth chronic obstructive pulmonary disease (COPD) therapeutics market forecasts to the industry stakeholders.
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Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Dynamics
The rising prevalence of chronic obstructive pulmonary disease is a major driver of the market for chronic obstructive pulmonary disease (COPD) therapeutics. According to the WHO, chronic obstructive pulmonary disease is the third leading cause of death worldwide, with an estimated 3 million deaths in 2019. The increasing prevalence of risk factors such as smoking, air pollution, and occupational exposure to dust and chemicals contributes to the growing chronic obstructive pulmonary disease burden. Chronic obstructive pulmonary disease is more common in older adults, and as the global population ages, thus there is a rise in the demand for chronic obstructive pulmonary disease therapeutics. A growing awareness of chronic obstructive pulmonary disease therapeutics and its symptoms has led to increased diagnosis and treatment. The development of screening tools and guidelines for diagnosing and managing chronic obstructive pulmonary disease has improved the accuracy of diagnosis and the effectiveness of treatment. This trend is expected to continue to drive the chronic obstructive pulmonary disease (COPD) therapeutics Market.
There have been significant advancements in chronic obstructive pulmonary disease therapeutics, including the development of new medications and combination therapies, which have improved outcomes and reduced the burden of the disease, which is also expected to boost the chronic obstructive pulmonary disease (COPD) therapeutics market growth. However, chronic obstructive pulmonary disease requires long-term management, and the cost of treatment is high, particularly for newer medications and combination therapies, which is restricting the chronic obstructive pulmonary disease (COPD) therapeutics market growth.
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Ecosystem
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market, by Drug Class
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market, by Therapy Type
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Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market, by Distribution Channel
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market by Therapy Type
Combination therapy combines two or more drugs with different mechanisms of action, which can provide enhanced efficacy in treating chronic obstructive pulmonary disease. For example, combining a bronchodilator with an inhaled corticosteroid can improve lung function and reduce exacerbations in chronic obstructive pulmonary disease patients. Combination therapy can simplify the treatment regimen for chronic obstructive pulmonary disease patients by reducing the number of medications they need to take. This can improve patient adherence and reduce the risk of medication errors. Combination therapy can be cost-effective compared to using multiple medications separately. By combining medications, pharmaceutical companies can reduce the cost of developing and marketing drugs, resulting in cost savings for patients and healthcare systems.
Segmentation of the market refers to the division of the industry into subgroups based on factors such as drug class, therapy type, distribution channel, and region. Market segmentation data helps businesses to understand the preferences and unique needs of different customer groups and develop targeted sales strategies. This information also helps identify potential chronic obstructive pulmonary disease (COPD) therapeutics market growth opportunities.
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market by Region
The high prevalence of chronic obstructive pulmonary disease in North America creates a significant healthcare burden, increasing demand for chronic obstructive pulmonary disease therapeutics. North America has a high level of healthcare spending, which supports the development and commercialization of new chronic obstructive pulmonary disease therapeutics. The region also has well-established healthcare systems, which facilitate patients' access to chronic obstructive pulmonary disease treatments. The regulatory environment for chronic obstructive pulmonary disease therapeutics in North America is well-established and supportive of innovation. This encourages pharmaceutical companies to develop new treatments and provides a clear pathway for regulatory approval. The development of new technologies, such as digital health solutions and novel drug delivery systems, is driving innovation in the chronic obstructive pulmonary disease (COPD) therapeutics market. These advancements are improving the effectiveness and convenience of chronic obstructive pulmonary disease treatments, which can increase patient adherence and improve outcomes.
Based on the regions, the global chronic obstructive pulmonary disease (COPD) therapeutics market is segmented into:
Regional demarcation of the industry will provide information on geographic pockets regarding chronic obstructive pulmonary disease (COPD) therapeutics market outlook, size, share, and growth rate. This data helps businesses evaluate the expansion potential into new regional markets, understand the competitive threats across different regions, and develop localized sales and expansion strategies.
Key Components of the Report
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Competitive Landscape
GSK plc, Boehringer Ingelheim International GmbH, Sunovion Pharmaceuticals Inc., AstraZeneca Plc, Sanofi S.A., Viatris Inc., Novartis AG, Chiesi Farmaceutici S.p.A., Hanmi Pharmaceutical Company Limited, Inmunotek S.L., and others.
The market competitive landscape is performed by collecting and analyzing information about the key competitors, the present industry trends, and market dynamics. It includes information collection and analysis on factors such as products, pricing, geographic outreach, customer demographics, marketing strategies, and recent developments. Competitive landscape assessment will help businesses identify the current prevalent or potential opportunities and threats, keeping in mind the chronic obstructive pulmonary disease (COPD) therapeutics industry trends.
Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Strategic Developments
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Reasons to Buy this Report
Chronic obstructive pulmonary disease therapeutics refer to the various medical treatments used to manage the symptoms and slow the progression of chronic obstructive pulmonary disease.
The chronic obstructive pulmonary disease (COPD) therapeutics market was valued at US$ 12.45 billion in 2022.
North America has the largest market share in revenue during the forecast period from 2023 to 2031.
The chronic obstructive pulmonary disease (COPD) therapeutics market is expected to register a revenue CAGR of 5% during the forecast period from 2023 to 2031.
The estimated size of the global chronic obstructive pulmonary disease (COPD) therapeutics market in 2031 is US$ 19.31 billion.
New and more effective therapies to manage COPD are significantly needed. This presents an opportunity for pharmaceutical companies to invest in developing novel therapies, such as biologics and gene therapies, to target the underlying mechanisms of COPD.
Key market players often enter into partnerships and collaborations with other companies to leverage their expertise, technology, and resources in developing new therapies. This includes partnerships with academic institutions and research organizations to advance scientific knowledge and drug development.
The prominent players operating in the global chronic obstructive pulmonary disease (COPD) therapeutics market are GSK Plc, Boehringer Ingelheim International GmbH, Sunovion Pharmaceuticals Inc., AstraZeneca Plc, and Sanofi S.A.
The combination therapy segment dominated the chronic obstructive pulmonary disease (COPD) therapeutics market.
*Insights on financial performance are subject to the availability of information in the public domain