The global asthma and COPD drugs market size was estimated at US$ 36 billion in 2022 and is expected to hit US$ 58.92 billion by 2032 with a registered CAGR of 5.10% from 2023 to 2032.
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Asthma and COPD Drugs Market in the U.S. 2023-2032
The global asthma and COPD drugs market size was valued at US$ 1.61 billion in 2022 and is predicted to reach US$ 13.69 billion by 2032 with a growing CAGR of 7.40% from 2023 to 2032.
North America dominated the asthma and COPD drugs market in 2022. The main factor for the growth of asthma and COPD drugs market in North America region is rising prevalence of asthma and COPD. Adult women are more likely than adult men to have asthma in the U.S. As per the Centers for Disease Control’s 2020 estimates, asthma affects about 25 million people in the U.S. This equates to roughly one in every thirteen Americans with 7% of children and 8% of adults falling in this category. Asthma affects around 20 million persons in the U.S. Thus, the surge in number of asthma patients is boosting the growth of asthma and COPD drugs market in the region.
Europe, on the other hand, is expected to develop at the fastest rate during the forecast period. The UK dominates the asthma and COPD drugs market in Europe region. The growth of the asthma and COPD drugs market in Europe region is attributed to the growing awareness of asthma and COPD among people. For example, the United Action for Allergy and Asthma was started in Europe in April 2017 to promote asthma knowledge across the globe. Thus, the asthma and COPD drugs market in this region is expected to grow at rapid pace in the near future.
The factors such as growing geriatric population, technological developments, and rising prevalence of asthma and COPD are contributing towards the growth of global asthma and COPD drugs market. The COPD is growing at a faster rate globally. COPD is the third leading risk factor of death globally, as per the World Health Organization (WHO)’s 2021 datasheet, with 3.23 million fatalities in 2019. Over 80% of the deaths took place in low- and medium-income nations.
Moreover, the growing rate of asthma is also paving way for the growth of global asthma and COPD drugs market. As per the survey released in June 2019 by the Asthma and Allergy Foundation of America, asthma affects one out of every thirteen Americans. Furthermore, more than 11.4 million people with asthma had at least one asthma attack in 2017, according to the report.
In addition, the growing population of geriatrics is driving the growth of global asthma and COPD drugs market. As per the World Ageing 2020 estimate, the global population will be roughly 727 million people aged 65 and up in 2020. In 2050, the number of elderly people is expected to increase to 1.5 billion. Globally, the proportion of people aged 65 and more surged from 9.3% in 2020 to 16% in 2050. Thus, this factor is boosting the expansion of global asthma and COPD drugs market.
Another factor propelling the growth of global asthma and COPD drugs market is rising advancements in technologies and therapies as well as growing product launches by market players. For example, AstraZenca, a renowned pharmaceutical company, gained European Union (EU) approval for Trixeo Aerosphere for COPD supportive therapy in December 2020. The government of emerging and established regions is also heavily investing in the development of new drugs and medications. Some of the government bodies are collaborating with market players for the launch of new products. As a result, all of these aforementioned factors are boosting the expansion of global asthma and COPD drugs market.
|Market Size by 2032
|USD 58.92 Billion
|Growth Rate from 2023 to 2032
CAGR of 5.10%
|Fastest Growing Market
|2023 to 2032
|Diseases, Medication Class, Distribution Channel, Geography
|Pfizer Inc., Teva Pharmaceutical Industries Ltd, Merck & Co. Inc, Grifols S.A., Novartis AG, Cipla Inc., Abbott, Astellas Pharma, Hoffmann-La Roche Ltd, Glenmark Pharmaceuticals
The asthma segment dominated the asthma and COPD drugs market in 2022. The asthma is considered as one of the life-threatening diseases around the world. According to World Health Organization (WHO), in 2019, asthma afflicted an estimated 262 million individuals, resulting 46,1000 mortalities. The most frequent chronic disorder among children is asthma. Inhaled medicine and drugs can help patients with asthma manage their symptoms and live a healthy life. Thus, the market for asthma and COPD drugs is expected to expand due to this factor.
The CPOD segment is fastest growing segment of the asthma and COPD drugs market in 2022. According to the Institute of Health Metrics and Evaluation’s Global Burden of Disease Study (2016), there are 215 million cases with COPD worldwide. As per the World Health Organization (WHO), around 200 million people worldwide were diagnosed with COPD in 2016. The factors such as growing air pollution and toxic gases emissions are boosting the growth of asthma and COPD drugs market.
The combination drugs segment dominated the asthma and COPD drugs market in 2022. The usage of combination of medications and drugs for the treatment of a variety of disorders has steadily increased during the past decade. The patients with COPD and asthma can now gain benefit from combination drugs according to several research studies.
The inhaled corticosteroids (ICS) segment is fastest growing segment of the asthma and COPD drugs market in 2022. The inhaled corticosteroids (ICS) aid in the prevention of asthma attacks as well as the improvement of lung function. They may also be utilized for the treatment of other lung disorders such as COPD. The inhaled corticosteroids (ICS) are quite effective for the treatment of asthma as compared to other types of drugs.
Segments Covered in the Report
By Medication Class
By Distribution Channel
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