Asthma and COPD Drugs Market Overview
Asthma and COPD Drugs Market is expected to register a CAGR of 7.90% to reach USD 43,444.72 Million by 2025. Asthma is a type of inflammatory disease that affects the lungs and makes breathing difficult. Asthma is one of the common chronic condition affecting many people across the globe. COPD or chronic obstructive pulmonary disease is an umbrella term used for a group of respiratory diseases such as emphysema and chronic bronchitis.
Asthma and COPD Drugs Market Dynamics
The increasing prevalence & incidence rate of asthma and COPD and a strong product pipeline is expected to drive the market growth. According to a report published by the Asthma and Allergy Foundation of America in June 2019, 1 in 13 Americans has asthma. Moreover, it also stated that more than 11.4 million people who have asthma experienced at least one asthma attack in 2017. The rapidly changing lifestyle and high R&D expenditure are also anticipated to drive the market growth.
Asthma and COPD Drugs Market, by Distribution Channel, 2018 & 2025 (USD Million)
Source: MRFR Analysis
Asthma and COPD Drugs Market Segmentation
Asthma and COPD Drugs Market has been segmented by disease, product, route of administration, and distribution channel. The market, based on disease, has been bifurcated into asthma and COPD.
Based on product, asthma and COPD drugs market has been segregated into long-term asthma control medications and quick-relief medications. The long-term asthma control medications are further segmented into combination drugs, anticholinergics, inhaled corticosteroids, long-acting beta-agonists, theophylline, and others. The combination drugs are further segregated into Seretide/Advair, Symbicort, Relvar/Breo Ellipta, Flutiform, Dulera, and Others. Anticholinergics is further sub-segmented into Spiriva and others. Inhaled corticosteroids are further segmented into Pulmicort, Flovent, Qvar, and others.
The quick-relief medications have been further segmented into short-acting beta-agonists, oral & intravenous corticosteroids, ipratropium bromide (Atrovent), and others. Short-acting beta-agonists have been further segregated into Proair and Ventolin.
The market, based on the route of administration, has been segmented into oral, inhaled, and others. On the basis of the distribution channels, global market has been segmented into retail pharmacies, hospital pharmacies, and online pharmacies.
Asia-Pacific Asthma and COPD Drugs Market Share, 2018 (%)
Source: MRFR Analysis
The Global Asthma and COPD Drugs Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is likely to dominate global asthma and COPD drugs market. This can be attributed to the rising patient population suffering from asthma and COPD in the region. According to the American Academy of Allergy Asthma & Immunology, in 2016, approximately 8.3% of children in the US had asthma. Moreover, the rising health expenditure per person and increasing demand for advanced treatment options are also expected to drive market growth.
The European market for asthma and COPD drugs is estimated to be the second-largest during the review period. The growing awareness of asthma and COPD in Europe is expected to boost the growth of the regional market. For instance, in April 2017, the “United Action for Allergy and Asthma” was launched in Europe to raise awareness regarding asthma in the continent. Additionally, the prevalence of asthma and COPD is also increasing in Europe, which is further fueling the market growth.
Asia-Pacific is estimated to be the fastest-growing market owing to the rising awareness regarding COPD and asthma in the region. This is evident from the launch of a campaign by Koninklijke Philips in May 2019, for raising awareness of asthma in India on World Asthma Day. Moreover, the high prevalence of asthma and COPD is also positively affecting the market growth.
The Prominent Players in the Global Asthma and COPD Drugs Market are GlaxoSmithKline plc (UK), AstraZeneca (UK), Boehringer Ingelheim International GmbH (Germany), and Chiesi Farmaceutici SpA (Italy).
Some of the key strategies followed by players operating in global market were collaborations, acquisition, product approval & launch, and expansion.
Asthma and COPD Drugs Market, by Disease
Asthma and COPD Drugs Market, by Product
Asthma and COPD Drugs Market, by Route of Administration
Asthma and COPD Drugs Market, by Distribution Channel
Asthma and COPD Drugs Market, by Region
|Market Size||USD 43,444.72 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Disease, Product, Route of Administration and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||GlaxoSmithKline plc (UK), AstraZeneca (UK), Boehringer Ingelheim International GmbH (Germany), and Chiesi Farmaceutici SpA (Italy|
|Key Market Opportunities||The increasing prevalence & incidence rate of asthma and COPD and a strong product pipeline is expected to drive the market growth|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Asthma and COPD Drugs market can expand at 7.90% CAGR by 2025.
By 2025, the Asthma and COPD Drugs market value can be above USD 43,444.72 thousand.
GlaxoSmithKline plc (UK), Boehringer Ingelheim International GmbH (Germany), and AstraZeneca (UK) are some reputed names in the Asthma and COPD Drugs market.
The growing popularity of long-term asthma control medications can promote the Asthma and COPD Drugs market.
The lack of investment in R&D can restrain Asthma and COPD Drugs market.