Published Date : 16 Apr 2024
The global asthma and COPD drugs market size surpassed USD 37.66 billion in 2023 and is estimated to attain around USD 58.92 billion by 2032, growing at a CAGR of 5.10% from 2023 to 2032. The asthma and COPD drugs market is attributed to the prevalence of asthma and COPD and the increasing geriatric population.
The development of drugs for asthma and COPD occurs in the asthma and COPD drugs market. The development process includes collecting raw materials, formulating drugs, manufacturing, sterilization, and packaging. The drugs are further distributed to hospitals, clinics, retail shops, and online shopping. Asthma and chronic obstructive pulmonary disease (COPD) are treatable, preventable, and common chronic diseases that impact women and men worldwide. The market players are adopting several strategies, such as expansion, acquisition, collaborations, developments, and product launches, to increase their market growth. Increasing product developments, advanced therapeutic drugs, side effects associated with COPD drugs, and strict government regulations are anticipated to drive the growth of the market.
Increasing prevalence of asthma and COPD diseases to fuel the asthma and COPD drugs market growth
Asthma and COPD are common diseases mainly found in the geriatric population. Asthma and COPD disease are the major health issues due to their rising and high prevalence. Chronic obstructive pulmonary disease and asthma are the third leading reasons of death. COPD outcomes and asthma were associated with obesity, underweight, smoking, and lower education.
Due to occupational and environmental exposure, about 15% of COPD and 15% of asthma cases are estimated. There are 3oo million people suffering from asthma, and it carries a high mortality and morbidity burden. Asthma can impact children of any age, and it is more common in children. 50% of passive smokers developed COPD, which is caused by tobacco smoke, marijuana, and cigarette smoke. These are a few major factors responsible for driving the growth of the asthma and COPD drugs market.
However, manufacturers face challenges in developing drugs for COPD and asthma, including restricted investment by pharmaceutical companies, scarcity of helpful biomarkers, and lack of investment in basic research. A lack of investment in research into diseases like asthma and COPD and also finding new treatments to diagnose these diseases are a real challenge for researchers. These major factors may restrain the growth of the market.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 37.66 Billion |
| Projected Forecast Revenue by 2032 | USD 58.92 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5.10% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recent Development by Lupin
Recent Development by Glenmark Pharmaceuticals
North America dominated the asthma and COPD drugs market in 2023 due to the increasing prevalence of COPD and asthma. Countries like the U.S. and Canada have made great contributions to the dominance of North America. When it comes to pharmaceutical manufacturing, the U.S. has the largest market in the world. A high level of research and development contributes majorly to the prevalence.
In Canada, many changes have been suggested in the management of obstructive lung diseases. The rise in the airway medication distributed in Canada is continuous, with an increase in the severity of disease and the number of patients treated. In Canada, 2 million cases are living with COPD disease. COPD is the eighth most common cause of hospitalization and the fourth main cause in the geriatric population.
Europe is estimated to grow fastest in the forecast period. The United Kingdom, Germany, and France dominate the COPD and asthma drugs market in Europe. In the last years, several new chronic obstructive pulmonary disease therapies have been launched and developed in Europe.
Germany has significant growth in the asthma and COPD drug market in Europe. Environmental air pollution poses a major complication for the aggravation and development of respiratory diseases in Germany. Germany was conducted with hospital admissions of asthma patients and chronic obstructive pulmonary disease (COPD). In Germany, the Environmental Agency exhibited that a concentration background of NO2 is visible to be detrimental to various mortality and non-communicable diseases. These are the factors that are responsible for the growth of the asthma and COPD drugs market in Germany.
Personalized medicines or drugs
Asthma and COPD are heterogeneous diseases comprising various phototypes enhanced in different ways. To explain these endotypes, an impartial approach to clustering several platforms will submit molecular endotypes from which compound biomarkers can be acquired. Biomarkers can help distinguish and pinpoint patients and endotypes for targeted therapies based on personalized drugs. Personalized drugs involve classifying asthma by its phenotypes, connecting noticeable characteristics to immunological mechanisms. Recognizing this phenotypic mechanism is important in tailoring therapeutic approaches and monitoring patients using unique biological agents targeting definite immune approaches. These are the opportunities that may drive the growth of the asthma and COPD drugs market in the coming years.
Market Segmentation
By Diseases
By Medication Class
By Distribution Channel
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