The Global Asthma and COPD Drugs Market generated $38.9 billion in 2015 and is projected to attain $50.4 billion by 2022, growing at a CAGR of 3.7% from 2016 to 2022.
Increase in incidence and prevalence of asthma and COPD, growing geriatric population, technological advancement in the treatment of asthma and COPD diseases, growth in initiatives implemented by the government and non-government associations around the Global are the factors that majorly drive the growth of this market. However, stringent government regulations for the product approval, patent expiry of branded drugs, and side effects associated with drugs restrict the market growth.
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Increase in prevalence of asthmatic and COPD patients’ worldwide, the rise in world aging population, surge in awareness concerning asthma and COPD diagnosis and management, and rapid technological advancement in developing asthma and COPD drugs have been responsible in driving the growth of global asthma and COPD drugs market. However, side-effects of such drugs, stringent regulatory requirements for the approval and commercialization of such drugs, and patient-expiry of the drugs themselves impede market growth. Conversely, the introduction of generic drugs for treating asthma and COPD is set to provide lucrative opportunities for emerging market players.
The report segments global asthma and COPD drugs market by diseases, medication class, and geography. Based on diseases, the report bifurcates the market into asthma or COPD. The asthma segment contributed over 65% to the global market revenue in 2015, owing to the rise in asthma prevalence due to change in lifestyle and an increase in geriatric population worldwide. However, the COPD segment is expected to grow at the fastest rate, registering a CAGR of 7.5%, during the forecast period.
Based on medication class, the market is sub-segmented into combination drugs, inhaled corticosteroids (ICS), short-acting beta agonists (SABA), long-acting beta agonists (LABA), leukotriene antagonists (LTA), anticholinergics, and others. While the combination drugs segment generated the largest revenue in 2016, the anticholinergics segment is expected to garner a remarkable 6.7% CAGR throughout 2022, due to increased and effective treatment of the disease. North America dominated the market share in 2015 and is expected to maintain this lead throughout the forecast period, due to an increase in asthma and COPD patients in this region and technological advancement in the treatment. However, with a CAGR of 5.1%, Asia-Pacific is anticipated to be the fastest-growing region through 2022, owing to a surge in the adoption rate of asthma and COPD treating drugs.
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The report also profiles key players involved in global asthma and COPD drugs market, such as
- GlaxoSmithKline (GSK) (U.K),
- Novartis AG (Switzerland),
- Merck & Co. (U.S),
- Abbott Laboratories (U.S),
- Boehringer Ingelheim (Germany),
- AstraZeneca (U.K),
- Roche Holding AG (Switzerland),
- Teva Pharmaceutical Industries(Israel),
- Vectura Group (U.K), and Pfizer Inc. (U.S).
They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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