The Asthma and COPD Drugs Market is a pivotal segment in the pharmaceutical industry, focusing on the development and distribution of medications to manage respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). Asthma and COPD are chronic respiratory disorders characterized by inflammation and airflow obstruction, and this market plays a crucial role in providing therapeutic options to improve the quality of life for affected individuals. Medications include bronchodilators, corticosteroids, leukotriene modifiers, and combination inhalers, tailored to address the specific needs of patients with these conditions. Major drivers of the Asthma and COPD Drugs Market include the increasing prevalence of respiratory disorders, advancements in drug formulations, and a growing emphasis on personalized treatment approaches. Challenges involve addressing the complexity of these chronic diseases, ensuring patient adherence to treatment plans, and navigating regulatory requirements. Geographically, North America and Europe lead in market share due to higher healthcare awareness, while Asia-Pacific is witnessing growth with a rising burden of respiratory diseases and improving healthcare access. As the Asthma and COPD Drugs Market continues to evolve, it remains integral to managing the impact of respiratory conditions on global health.
According to Market Research Future (MRFR), the global market for asthma and COPD drugs market report is projected to cross USD 73.98 Billion at a CAGR of 7.9% by 2032. Asthma is a type of inflammatory condition that affects the lungs and makes it difficult to breathe. Asthma is one of the common chronic conditions that affect many people around the world. COPD or chronic obstructive pulmonary disease is the umbrella term used in a category of respiratory disorders such as emphysema and chronic bronchitis.
Market Dynamics
The rising prevalence and incidence of asthma and COPD and a strong product pipeline are expected to drive market growth. According to a survey released by the Asthma and Allergy Foundation of America in June 2019, 1 in 13 Americans has asthma. It also reported that more than 11.4 million people with asthma suffered at least one asthma attack in 2017. Rapidly evolving lifestyles and high R&D investment are also expected to drive business growth.
Key Players
The key Players in the global asthma and COPD drugs market players are GlaxoSmithKline plc (UK), AstraZeneca (UK), Boehringer Ingelheim International GmbH (Germany), and Chiesi Farmaceutici SpA (Italy). Collaboration, acquisition, product approval & launch and expansion were some of the main strategies adopted by players in the global asthma and COPD drug industry.
Segmentation
Global asthma and COPD drugs market research has been segmented by disease, medication, route of administration, and distribution channels.
The disease-based sector has been divided into asthma and COPD.
Based on the product, asthma and COPD market, drugs have been divided into long-term asthma control drugs and quick-relief drugs. Long-term asthma control drugs are divided into combination drugs, anticholinergics, inhaled corticosteroids, long-acting beta agonists, theophylline, and others. Combination drugs are further classified into Seretide / Advair, Symbicort, Relvar / Breo Ellipta, Flutiform, Dulera, and others. Anticholinergics were further sub-segmented to Spiriva and others. Inhaled corticosteroids are further segmented into Pulmicort, Qvar, Flovent, and others. Quick-relief medication has been further divided into short-acting beta agonists, oral and intravenous corticosteroids, ipratropium bromide (Atrovent), and others. The short-acting beta agonists were further separated into Proair and Ventolin.
The global demand for asthma and COPD medications, depending on the route of administration, has been segmented into oral, inhaled, and other products. Across the basis of distribution networks, the global demand for asthma and COPD medicines has been segmented into specialty pharmacies, hospital pharmacies, and online pharmacies.
Regional Analysis
Based on the region, global asthma and COPD drugs market has been divided into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas are expected to dominate the global market for asthma and COPD medicines. It can be due to the increasing number of patients suffering from asthma and COPD in the region. According to the American Academy of Allergy Asthma & Immunology, about 8.3 percent of children in the US had asthma in 2016. In addition, growing health expenditure per person and increasing demand for advanced care options are also expected to drive market growth.
The European market for asthma and COPD drugs is projected to be the second-largest during the review period. Increasing awareness of asthma and COPD in Europe is expected to fuel the growth of the regional sector. For example, in April 2017, the 'United Action for Allergy and Asthma' was launched in Europe to raise awareness of asthma in the continent. In addition, the prevalence of asthma and COPD is also growing in Europe, which is further accelerating market growth.
Asia Pacific is expected to be the fastest-growing market in the world due to increasing awareness of COPD and asthma. This is evident from the launch of a campaign by Koninklijke Philips in May 2019 to raise awareness of asthma in India on World Asthma Day. However, the high incidence of asthma and COPD also has a positive effect on market development.
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