The asthma and COPD market comprises products used in the treatment of asthma and chronic obstructive pulmonary disease (COPD). Asthma is a chronic inflammatory disease characterised by swelling and narrowing of the airways, while COPD refers to a group of respiratory diseases that cause airflow blockage and breathing-related problems. Key products in the market include combination therapy, bronchodilators, anti-inflammatory drugs, monoclonal antibodies, and vaccines. There has been a significant rise in the prevalence of respiratory diseases owing to factors like growing elderly population, increasing air pollution levels, and rising smoking rates in developing countries. The usage of combination therapies containing inhaled corticosteroids and long-acting β2-agonists provides better asthma control compared to monotherapies. This has boosted the adoption of combination therapies.
The Global asthma and COPD market is estimated to be valued at US$ 40.56 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Asthma And COPD Market are AbbVie Inc., AstraZeneca, Bristol-Myers Squibb Company, Dendreon Pharmaceuticals LLC., F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, Ferring B.V., Enzo Biochem Inc., Celldex Therapeutics, Atara Biotherapeutics, Inc., Apexigen, BioNTech SE, Blueprint Medicines Corporation, Regeneron Pharmaceuticals Inc., CytomX Therapeutics, Inc., Agenus Inc., Betta Pharmaceuticals Co., Ltd., CStone Pharmaceuticals, Amgen Inc., MediMergent, LLC, Gilead Sciences, Inc., and ONKO-INNATE.
There is a high unmet need for more effective drugs with improved safety profiles to treat asthma and COPD. The development of novel biologics, vaccines, and targeted small molecules offer lucrative opportunities in the market.
Key players are focusing on expanding their presence in emerging markets like India, Brazil, and China through acquisitions and collaborations. For instance, AstraZeneca aims to further strengthen its respiratory portfolio in China. The geographical expansion will allow companies to tap the high growth opportunities in developing nations.
Market Drivers
Rising prevalence of respiratory diseases due to factors like increasing pollution levels and growing elderly population is a major market driver. It is estimated that by 2025, over 1.5 million people will die from COPD and asthma each year. This rising disease burden is expected to propel the demand for treatment drugs.
Growing adoption of combination therapy drugs for better management of symptoms is also boosting the market growth. Combination therapy allows lowering the prescribed dose of individual drugs and provides superior efficacy.
Market Restraints
However, the market expansion is restricted by some factors. The stringent regulatory guidelines for approval of respiratory drugs increase the clinical development costs and timelines. Moreover, patent expiration of major drugs will intensify competition and significantly impact drug prices during the forecast period. Long development cycles and high failure rates of novel drug candidates also impede the market growth.
Segment Analysis
The asthma and COPD market is dominated by inhaled drugs segment as these drugs are used extensively as first line treatment for asthma and COPD patients. Inhaled drugs segment accounts for over 60% of market share as these drugs target the site of infection directly through inhalation in lungs with lesser systemic side effects. They are available in both as rescue or reliever medicines as well as controller medicines which help in symptom control and preventing future attacks.
The other major segment is systemic drugs which are used for patients with severe disease condition or in combination with inhaled drugs. Oral tablets, syrups and injectables form the systemic drugs segment which is growing at a higher pace backed by increasing burden of asthma and growth in biologics sub segment usage. biologics are monoclonal antibodies that target specific inflammatory pathways involved in these diseases and are being preferred for treating eosinophilic or allergic asthma phenotypes over steroids.
Global Analysis
North America region currently dominates the asthma and COPD market due to high awareness levels, strategic presence of key players and availability of advanced treatment options. The region is expected to retain its leading position during the forecast period supported by growing adoption of epinephrine auto-injectors and biologics in United States.
Asia Pacific region is poised to witness highest growth rate primarily driven by strong economic development in China and India, rising healthcare expenditure, growing patient population due to pollution levels and evolving healthcare infrastructure. Presence of affordable generic drugs and increasing focus of global brands towards emerging Asian nations will aid regional market expansion over coming years.
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