The asthma and COPD drugs market is estimated to register a CAGR of 7.9% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global asthma and COPD drugs market Teva Pharmaceutical Industries Ltd (Israel), GSK plc (UK), Merck& Co., Inc (US), F. Hoffmann-La Roche Ltd (Switzerland), AstraZeneca (UK), Boehringer Ingelheim International GmbH (Germany), Sanofi (France), Koninklijke Philips N.V. (Netherlands), BD (US), Sunovion Pharmaceuticals, Inc (US) and others.
The global asthma and COPD drugs market is accounted for to register a CAGR of 7.9% during the forecast period and is estimated to reach USD 73.98 billion by 2032
The single largest growth trend is the increasing asthma and COPD prevalence. The market space witnesses increasing healthcare expenditure across the globe which drives the growth of the asthma and COPD drugs market. In addition, increasing the demand of asthma and COPD drugs. One such key growth factor promoting an exponential increase in Year on Year (%) growth due to the rising research and development activity is driving the growth of the asthma and COPD drugs market.
Furthermore, growing number of companies that are propel the growth of asthma and COPD drugs market. However, stringent regulation is expected to hamper the growth of the global market. Nevertheless, the rising awareness about the early treatment of asthma and COPD are projected to create lucrative opportunity pockets for market players. We estimate a more focused business initiates targeting the same would result in greater revenue pockets for market players.
Access full report @ https://www.marketresearchfuture.com/reports/asthma-copd-drugs-market-8749
The global asthma and COPD drugs market is segmented into disease, product, route of administration, and distribution channel. Based on the disease market is further sub segmented into COPD,asthma. The COPD segment was attributed to holding the largest market share in 2022 with a market share of 61.8% of revenue as estimated by MRFR analysts.
COPD or chronic obstructive pulmonary disease includes various lung diseases such as emphysema, chronic bronchitis, and refractory (non-reversible) asthma. The segment is expected to grow at the fastest CAGR owing to the increasing prevalence of COPD.
Further, we estimate that the market segment will have a large patient pool suffering from asthma and COPD disorders during the forecast period. It has been identified that the segment market yet witnesses continuous technological development in terms of new product launches. For instance, in October 2019, Circassia Pharmaceuticals launched the Duaklir Pressair (aclidinium/formoterol) for the treatment of patients suffering from COPD. Moreover, in November 2018, Theravance Biopharma and Mylan N.V. together launched, the US Food and Drugs Administration (FDA) approved-Yupelri (revefenacin), which is the first and only once-daily nebulized bronchodilator approved for the treatment of COPD.
Further, based on product, the market is segmented into long-term asthma control medications and quick-relief medications. The long-term asthma control medications segment is further sub-segmented combination drugs, anticholinergics, inhaled corticosteroids, long-acting beta agonists, theophylline, others. Combination drugs is further sub segmented into seretide/advair, symbicort, relvar/breo ellipta, flutiform, dulera, others. Medication segments are projected to have the largest market share during the forecast period. Combination drugs is further sub segmented into Spiriva, others. Inhaled corticosteroids are further sub segmented into pulmicort, flovent, qvar, others. Quick-relief medications are further sub segmented into short-acting beta agonists, ipratropium bromide (Atrovent), oral and intravenous corticosteroids, and others. Short-acting beta agonists are further sub segmented into ventolin, proair, and others. Routes of administration are further sub segmented into inhaled, oral, others (intravenous, subcutaneous). Distribution channels are further sub segmented into hospital pharmacies, retail pharmacies and online pharmacies companies.
The global asthma and COPD drugs market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World.
The asthma and COPD drugs market for North America is analyzed across US and Canada. US accounted for a major share of the North America asthma and COPD drugs market in 2022 and is expected to maintain its lead during the forecast period, due to the increasing product approvals, high expenditure in research and development activities by the market players and, the presence of several major players, such as Teva Pharmaceutical Industries Ltd (Israel), GSK plc (UK), Merck& Co., Inc (US), F. Hoffmann-La Roche Ltd (Switzerland), AstraZeneca (UK) among others drive the growth of the market.
The key factor that contributes to the growth of North America asthma and COPD drugs market is a rising patient population suffering from asthma and COPD in the region. For Instance, according to the Centers for Disease Control and Prevention (CDC) in 2020, around 25 million population suffered from asthma in the US.
Moreover, the Europe market has been persistently growing owing to factors such as the Increasing healthcare expenditure, growing research, and development activity, growing presence of key players as well as new companies enter into asthma and COPD drugs market is driving the Europe asthma and COPD drugs market.
Additionally, market factors, such as an increase geriatric population, strategic alliance such as supply agreements, merger & acquisition by major key players. Availability of cheap labor cost, increasing number of companies presence in the region and growing demand of better therapeutics which further drive the growth of asthma and COPD drugs market in the Asia-Pacific region.
Furthermore, the rest of the world's market is divided into the Middle East, Africa, and Latin America. The market factors such as an increasing better medical facility, rising awareness about the better treatment are raise the demand of asthma & COPD drugs across the region which drives the growth of the market. Moreover, an increase in government initiatives for bioterror prevention across the region further boosts the growth of the market.
Key Findings of the Study