Asthma And COPD Drugs Market By Drug Class (Bronchodilators, Cortesteriods, Combination Therapies, Monoclonal Antibodies), Diseases (Asthma, COPD), Patient Demographics (Age Groups, Disease Severity), Region for 2024-2031

Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Asthma And COPD Drugs Market Valuation – 2024-2031

Increase in public awareness and education campaigns about asthma and COPD are significant drivers for the market of medications used to treat these respiratory conditions. These efforts lead to earlier diagnosis and initiation of treatment, which is crucial in preventing complications and improving long-term outcomes for patients. Thus, the growing awareness of asthma and COPD is surging the growth of market size surpassing USD 38.49 Billion in 2023 to reach a valuation of USD 60.2 Billion by 2031.

The emphasis on early intervention strategies creates a growing demand for medications aimed at managing asthma and COPD effectively from the onset of symptoms. It enhances patient care by ensuring timely access to appropriate treatments. Thus, the early intervention strategies are enabling the growth of the market to grow at a CAGR of 5.75% from 2024 to 2031.

Asthma And COPD Drugs MarketDefinition/ Overview

Asthma is a complex condition characterized by chronic inflammation of the airways. It is marked by recurring respiratory symptoms such as wheezing, shortness of breath, chest tightness, and cough, which can vary in intensity and frequency over time. The hallmark of asthma is variable expiratory airflow limitation, which means that airflow out of the lungs can fluctuate. Medications for asthma primarily focus on reducing inflammation in the airways, relaxing constricted muscles, and preventing asthma attacks, thereby improving overall respiratory function and quality of life for patients.

COPD, or Chronic Obstructive Pulmonary Disease, is something a lot of people deal with. The good news is, it's often preventable and we can definitely treat it! Basically, it makes it harder and harder to breathe over time because your airways are limited. The main culprit? Usually, it's long-term irritation and swelling in your lungs, often from things like cigarette smoke or other nasty stuff in the air. It's a condition that tends to get worse, causing ongoing breathing problems. And, to make things more complicated, people with COPD can also experience exacerbations (sudden symptom flare-ups) and other health issues (we call those comorbidities) that can really impact how severe the COPD is. Thankfully, there are medications that can help. These meds try to relax your airways, make it easier to breathe, cut down on those flare-ups, and ultimately, help you live a better life by improving how well your lungs work.

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How the Increasing Prevalence of COPD and Asthma Globally and Rising Pollution Levels is Surging the Growth of the Asthma and COPD Drugs Market?

Increasing prevalence of respiratory disorders such as COPD and asthma globally. Contributing factors include rising levels of air pollution, widespread smoking, and lifestyle changes that exacerbate the incidence of these conditions. As respiratory disorders become more common, the demand for effective treatments escalates.

Technological advancements in therapy have also played a crucial role in market expansion. Innovations in medication delivery systems, including nebulizers and inhalers, have made it easier and more efficient for patients to manage their conditions. Additionally, the development of biologics and improvements in pharmaceutical formulations have led to more effective and personalized treatment options, further driving market growth.

The fact that the world's population is getting older is a big reason why we're seeing more demand for asthma and COPD meds. You know, as folks age, they're just more prone to getting sick, especially with respiratory stuff. This trend tells us we're going to need more treatments designed specifically for older adults, who are more likely to be dealing with these conditions. Luckily, increased education and awareness about asthma and COPD are helping people get diagnosed and treated sooner. Think about it all the work being done by governments, non-profits, and even pharmaceutical companies to spread the word about these diseases is really paying off. It's encouraging both individuals and healthcare providers to seek and provide timely medical help. These kinds of initiatives are super important for the market to grow because they help us catch and treat these diseases early on, which is a win-win for everyone involved.

Growing healthcare expenditure, particularly in emerging economies, is enhancing access to diagnosis and treatment for COPD and asthma. Improved healthcare infrastructure and expanded insurance coverage are making it easier for more people to receive the care they need. This increased spending on healthcare services is a significant factor propelling market growth. Environmental factors, such as pollution, allergens, and occupational hazards, are also contributing to the rising prevalence of asthma and COPD. Addressing these environmental issues requires effective medications, driving demand in the market.

The pharmaceutical industry is really dedicated to finding new ways to treat COPD and asthma, and you can see that in all the R&D work they're doing! With lots of potential new treatments in the works and existing medications available, it's a great environment for both innovation and business growth. Investing in R&D is super important for making new and better treatments, which we desperately need to deal with the rising number of people struggling with breathing problems. Plus, with helpful rules and approval processes from the government, the market is getting a real boost. Agencies are even speeding things up so new asthma and COPD meds can get approved faster! These kinds of regulations really encourage companies to put money into R&D, which makes the market more competitive and helps it grow.

How the Growing Generic Competition and Strict Regulatory Standards is Impeding the Growth of the Asthma and COPD Drugs Market?

The rise of cheaper, generic drugs is really putting a lid on market growth. You see, when patents run out on big-name medications, generic versions flood the market, usually at a fraction of the price. This means branded pharmaceutical companies have a harder time making money, because both patients and doctors often choose the more budget-friendly generics. And let's not forget the tough regulations! Getting new COPD and asthma drugs approved, especially novel therapies and biologics, is a serious challenge. The strict requirements can cause delays in getting to market and seriously ramp up development costs. It all adds up to a slower pace for new treatments and a bigger financial squeeze on the drug companies.

Safety concerns and adverse effects associated with some asthma and COPD medications also affect their use. Medications that pose risks such as cardiovascular issues or respiratory complications may lead patients and healthcare professionals to hesitate in their use, thereby restricting the market potential for these drugs. The high cost of certain treatments, particularly biologics and newer medications, presents a barrier to access for many patients. In regions with limited healthcare infrastructure or inadequate insurance coverage, the expense of these drugs can be prohibitive, impeding market growth as patients struggle to afford necessary medications.

Beyond meds, things like pulmonary rehab and quitting smoking can really help folks manage COPD and asthma. These non-drug approaches can actually mean people don't need as many prescriptions. But, you know, if people – including doctors! – don't really get COPD and asthma, they might miss it. And if you're not diagnosed right, you're not getting the right treatment, which oddly can slow down the medicine market. So, raising awareness and educating everyone is key to getting people diagnosed and treated properly.

Okay, so getting diagnosed and treated for asthma and COPD can be really tough, especially if you live in a rural area or a place that doesn't have enough healthcare resources. Basically, if the healthcare system isn't up to par, people can't get the medical help they need, which means they might not even try different treatments, and that can slow down the market. Plus, there's a bigger push now for preventing and managing these conditions. If we focus more on things like improving air quality, using preventive measures, and offering complete disease management programs, we might not need as many drugs. For instance, if we can get more people to quit smoking, that could really lower the number of COPD cases and, in turn, reduce the need for pharmaceutical interventions.

Category-Wise Acumens

How the Enhanced Convenience and Reducing Risk of Missing Dose is Surging the Growth of Combination Therapies Segment?

Combination therapies segment is showing significant growth in the Asthma and COPD drugs market. Combination inhalers, which integrate both a bronchodilator and an inhaled corticosteroid into a single device, offer significant advantages in the treatment of asthma and COPD. One of the primary benefits is enhanced convenience, as patients only need to use one inhaler for their medication regimen, simplifying adherence and reducing the risk of missed doses. This streamlined approach also improves patient compliance, as it eliminates the need to manage multiple inhalers.

In terms of efficacy, combining a bronchodilator with an inhaled corticosteroid provides synergistic effects that can better control symptoms and prevent asthma attacks or COPD exacerbations. This combination therapy targets both the underlying inflammation in the airways (addressed by corticosteroids) and the bronchoconstriction (addressed by bronchodilators), thereby improving overall respiratory function and quality of life for patients. Additionally, combination inhalers often allow for lower doses of inhaled corticosteroids compared to using them alone. This reduction in steroid dosage helps mitigate potential side effects associated with long-term use of high-dose corticosteroids, such as oral thrush or systemic effects.

The availability of combination inhalers spans a wide range of options, catering to varying severities of asthma and COPD and accommodating individual patient needs. This flexibility in treatment options allows healthcare providers to tailor therapy plans more precisely, optimizing outcomes for patients with respiratory disorders. As research continues to support the efficacy and benefits of combination therapies, their usage is expected to grow, offering promising advancements in the management of asthma and COPD.

How the Increasing Prevalence of COPD in Emerging Economies is Surging the Growth of the COPD Segment?

We're seeing some serious growth in the COPD area of the Asthma and COPD Drugs Market! What's driving it? Well, COPD is becoming more common, especially in developing countries. Take Australia, for example. According to the Australian Institute of Health and Welfare, a whopping 638,000 Aussies were living with COPD in 2022 – that's around 2.5% of the population. And for those 45 and up, there were 53,000 hospital visits where COPD was the main reason. That's about 500 hospitalizations for every 100,000 people! It's also worth noting that about 87% of people with COPD had other health issues too, like mental health concerns (49%), arthritis (45%), asthma (42%), and back problems (42%).

Catching asthma sooner is getting easier thanks to better diagnosis and people being more aware of the signs. This means we can start treatment right away, which could really help patients feel better in the long run. Jumping on asthma early is key because it can ease symptoms, stop those nasty flare-ups, and generally boost how good life is. Now, the World Health Organization (WHO) says that COPD affects even more people worldwide than asthma does, showing just how big of a deal it is for public health. COPD is a long-term, always-getting-worse kind of disease, so folks usually need to take meds for a long time to keep symptoms in check and slow things down. All that medication adds up to a pretty big cost for managing COPD, especially since it usually involves a mix of things like bronchodilators, mucolytics, and sometimes even inhaled corticosteroids.

We're seeing a real shift towards managing asthma for the long haul, aiming for lasting control with combination therapies and exciting new biological treatments. It's not just about easing symptoms anymore; we're tackling the root causes like inflammation and sensitive airways. This means fewer trips to the medicine cabinet for quick relief and helps people stick with their treatment plans. Since healthcare systems worldwide are focusing more on managing long-term illnesses and preventive care, we expect to see a bigger need for COPD and asthma meds. This really highlights the importance of ongoing research to make treatments better, minimize side effects, and keep up with the changing needs of folks with breathing problems.

Gain Access to Asthma And COPD Drugs Market Report Methodology

Country/Region Wise Acumens

How the Increasing Prevalence of Asthma and COPD in Region is Surging the Growth of the Asthma and COPD Drugs Market in North America?

We're seeing a real surge in asthma and COPD around here, and that's fueling the Asthma and COPD dDrugs mMarket. Take a look at the numbersAccording to the Asthma Surveillance in the United States, in 2020 alone, almost 1 million people had to rush to the emergency room because of asthma. And sadly, 94,560 people ended up in the hospital for it that year. Overall, asthma affects about 25 million folks in the US, including over 4.6 million kids under 18! What's even more concerning is that the percentage of people with asthma in the US has been creeping up – from 7.4% in 2001 to 7.7% in 2021. You can find more information here CDC Asthma Statistics.

According to the Asthma Surveillance in the United States approximately 25.2 million individuals, including 4.2 million children, are estimated to have asthma. In 2020, more than 10.3 million people with asthma, including nearly 1.8 million children, reported experiencing one or more asthma attacks. The prevalence of asthma among children in 2020 was 5.8%, meaning approximately 1 in 17 children had asthma. In 2021, the incidence of asthma attacks was higher among females, non-Hispanic White individuals, and residents of smaller Metropolitan Statistical Areas (MSAs) compared to their respective reference groups.

Furthermore, the growth of the market in this region is bolstered by several factors. Firstly, the presence of prominent pharmaceutical companies locally contributes significantly, leveraging advanced healthcare infrastructure and increasing research and development efforts aimed at pioneering novel therapies. These efforts are crucial in enhancing treatment options and improving patient outcomes. Additionally, the increasing number of funding initiatives from both government and non-government organizations is anticipated to further propel market expansion. These funding efforts support innovation, clinical trials, and the development of new medications, fostering a robust environment for the advancement of respiratory healthcare in the region.

How the Increasing Prevalence of Respiratory Diseases in Region is Surging the Growth of Asthma and COPD Drugs Market in Asia Pacific During the Forecast Period?

You know, when it comes to the Asthma and COPD Drugs Market, it looks like Asia Pacific is really going to take off over the next few years. Why? Well, a few things are happening. We're seeing more respiratory diseases pop up, thanks to rapid growth and air pollution making things worse for people with asthma and COPD. And even though smoking's down in some wealthier countries, it's still a big deal in lots of places in Asia Pacific, which definitely doesn't help with COPD. Plus, the region's getting older, and, let's face it, older folks are just more likely to have breathing problems, so the need for drugs to deal with COPD is going up too!

Moreover, there has been a notable increase in public health awareness campaigns and improvements in healthcare infrastructure. These efforts have facilitated earlier diagnosis and treatment initiation for asthma and COPD, thereby improving patient outcomes. Economic growth in many Asian countries has also resulted in rising disposable incomes among the population. This economic prosperity allows individuals greater access to healthcare services and medications, including those for respiratory diseases.

Furthermore, governments across the region are actively implementing healthcare policies aimed at enhancing respiratory health. This includes the introduction of reimbursement programs to make asthma and COPD drugs more affordable for patients. Additionally, significant investments are being made in healthcare infrastructure, with new hospitals and clinics equipped to diagnose and manage respiratory illnesses effectively. These initiatives collectively contribute to the growth and development of the respiratory drugs market in Asia Pacific, ensuring better management and outcomes for patients affected by these conditions.

Competitive Landscape

The Asthma and COPD drugs market is a dynamic space with established players and innovative companies vying for market share. By focusing on these competitive factors and emerging trends, companies in the Asthma and COPD drugs market can position themselves for sustainable growth in this dynamic and ever-evolving healthcare sector.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the asthma and COPD drugs market include

GlaxoSmithKline plc, Merck & Co., Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd, Boehringer Ingelheim GmbH, Novartis AG, Chiesi Farmaceutici S.p.A., Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals, Inc., Vectura Group plc.

Latest Developments

  • In April 2021, Hikma Pharmaceuticals PLC gained FDA approval for their medication ADVAIR DISKUS in the US. This US FDA product approval strengthens the company’s operations in the US and boosts revenue growth in the US asthma and COPD medicines markets.
  • In February 2022, The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending approval of Sanofi’s Dupixent (dupilumab) as an add-on maintenance therapy for children aged 6 to 11 years with severe asthma with type 2 inflammation.
  • In October 2022, Verona announced positive results from their phase 3 ENHANCE-2 clinical study of ensifentrine, which treats chronic obstructive pulmonary disease. Ensifentrine is a product candidate that combines bronchodilator and anti-inflammatory properties in one molecule.
  • In June 2022, Glenmark announced the revolutionary fixed dosage combination (FDC) medicine, Indacaterol + Mometasone, for patients suffering from uncontrolled asthma in India. The business introduced this FDC under the brand name Indamet.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2018-2031

Growth Rate

CAGR of ~5.75% from 2024 to 2031

Base Year for Valuation

2023

Historical Period

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Drug Class
  • Patient Demographics
  • Diseases
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

GlaxoSmithKline plc, Merck & Co., Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd, Boehringer Ingelheim GmbH, Novartis AG, Chiesi Farmaceutici S.p.A., Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals, Inc., Vectura Group plc.

Customization

Report customization along with purchase available upon request

Asthma And COPD Drugs Market, By Category

Drug Class

  • Bronchodilators
  • Corticosteroids
  • Combination Therapies
  • Monoclonal Antibodies

Diseases

  • Asthma
  • COPD

Patient Demographics

  • Age Groups
  • Disease Severity

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Research Methodology of Market Research

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