SEATTLE, June 01, 2021, (MEDGADGET) — Overview
Except a “smoker’s cough” or a recurring cough and breathlessness, chronic obstructive pulmonary disease (COPD) is described by a prolonged blockage in circulation in the lungs, resulting in irregular sputum. Cough, breathlessness (shortness of breath) and wheezing, sputum, lung infections, weight loss, tiredness, and ankle swelling are all symptoms of COPD.
Global asthma and COPD market is expected to account around US$ 30,710.2 Mn in terms of value in 2020 and is expected to reach over US$ 42,608 Mn by the end of 2027.
Global Asthma and COPD Market: Drivers
Rising incidences of COPD is expected to drive growth of the global asthma and COPD market during the forecast period. For instance, according to a report by Global Initiative for Chronic Obstruction Disease’s 2018 report, COPD is expected to result in 4.5 million global deaths annually by 2030.
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Furthermore, growing number of smokers is also expected to propel growth of the global asthma and COPD market. For instance, according to the World Health Organization, 1.337 billion people smoked tobacco worldwide in 2018.
Combination Therapies held a significant position in the global asthma and COPD market in 2019, accounting over 57.0% share in terms of value, followed by Bronchodilators and Anti-Inflammatories, respectively.
Global Asthma and COPD Market: Restraints
Higher cost of asthma treatment is expected to hamper growth of the global asthma and COPD market. For instance, the annual per-person medical cost of asthma is around US$ 4,000 in the U.S.
Furthermore, asthma therapy is a lengthy procedure, and patients with the disease must adhere to several precautions. Patients also stop medication in the middle due to the high cost. This is also expected to hinder the global asthma and COPD market growth.
The global asthma and COPD market was accounted around US$ 29,386.8 Mn in 2019 and is forecast to reach a value over US$ 42,608.1 Mn by 2027 at a CAGR around 4.8% between 2020 and 2027.
Market Trends/Key Takeaways
During the Covid-19 pandemic, major organizations are focusing on providing asthma treatment guidance. For instance, in July 2020, The Asthma and Allergy Foundation of America has published a concise guide, “COVID-19 and Asthma Toolkit for Schools,” to assist educators and families with children with asthma in determining the best ways to remain safe for students returning to school during the COVID-19 pandemic.
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Rising R&D of new therapies is expected to drive growth of the global asthma and COPD market. For instance, the study, ‘Masitinib Significantly Decreases the Rate of Asthma Exacerbations in Patients with Severe Asthma Uncontrolled by Oral Corticosteroids: A Phase 3 Multicenter Study’, reported in June 2020, stated that as compared to placebo treatment, masitinib greatly decreased asthma exacerbations in patients with serious asthma who were not monitored by oral corticosteroids.
Global Asthma and COPD Market: Competitive Landscape
Key players in the global asthma and COPD market such as, Novartis AG, AstraZeneca, Merck & Co., GlaxoSmithKline plc, Regeneron Pharmaceuticals, Inc., Verona Pharma plc, Boehringer Ingelheim GmbH and GlaxoSmithKline plc.
Global Asthma and COPD Market: Key Developments
- Key players in the global asthma and COPD market are concentrating on R&D of new therapies due to extend their product range. For instance, in July 2020, AstraZeneca’s results from the positive Phase III ETHOS trial were published in the New England Journal of Medicine. The study demonstrated that the triple-combination therapy PT010 (budesonide/glycopyrronium/formoterol fumarate) reduced the rate of moderate or severe exacerbations compared with two dual-combination therapies in patients with moderate to very severe COPD.
Key players in the global asthma and COPD market are concentrating on the acceptance and sale of new products due to extend their product range. For instance, in February 2020, European Medicines Agency accepted GlaxoSmithKline plc’s regulatory submission seeking an additional indication for the use once-daily, single-inhaler triple therapy, Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol or FF/UMEC/VI) for the asthma treatment in adults.
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Detailed Segmentation
- Global Asthma and COPD Market, By Drug Type:
- Bronchodilators
- Short Acting Bronchodilators
- Long Acting Bronchodilators
- Anticholinergics
- Anti-Inflammatories
- Inhaled Corticosteroids
- Anti-Leukotriene
- Monoclonal Antibodies
- Combination Therapies
- Bronchodilators
- Global Asthma and COPD Market, By Disease Type:
- Asthma
- COPD
- Global Asthma and COPD Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
- Global Asthma and COPD Market, By Geography:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East:
- Africa
- Company Profiles
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