The Asthma and COPD Market Will Grow at Highest Pace Owing To Rising Air Pollution Levels

Asthma and COPD Market

The asthma and COPD market consists of drugs and devices used in the treatment of these respiratory disorders. Drugs used in the treatment include short-acting beta-agonists, inhaled corticosteroids, long-acting beta-agonists, leukotriene modifiers, theophylline, and combination drugs. Devices used include inhalers, nebulizers, and peak flow meters. The global asthma and COPD market is driven by the increasing prevalence of these respiratory disorders owing to rising pollution levels and growing elderly population. According to WHO, air pollution levels are rising at an alarming rate globally due to rapid industrialization and urbanization. Long term exposure to air pollution has been strongly linked to increased risk of asthma and COPD.

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. The demand for asthma and COPD drugs and devices is increasing owing to the rising prevalence of these disorders globally. Technological advancements include development of smart inhalers and sensors integrated with mobile apps to monitor medication intake and asthma/COPD symptoms.

Market trends

Increasing preference for combination drugs - Combination drugs that contain more than one drug are becoming increasingly popular owing to their high efficacy. For example, Breo Ellipta contains both fluticasone furoate and vilanterol.
Rise in digital health solutions - Companies are investing in digital health solutions like sensors and mobile apps to remotely monitor patients, predict exacerbations, and ensure medication adherence. This is helping drive better health outcomes.

Market Opportunities

Emerging economies in Asia Pacific and Latin America - With increasing pollution levels and growing healthcare spending, emerging markets like India, China, Brazil provide lucrative opportunities for asthma and COPD drug and device manufacturers.
Specialized drugs for treatment-resistant patients - There is a need for specialized drugs targeting treatment-resistant patients who do not respond to existing therapies. This represents a major opportunity area.

Impact of COVID-19 on Asthma And COPD Market growth:

The COVID-19 pandemic has significantly impacted the growth of the Asthma And COPD market. The lockdowns imposed to curb the spread of the virus led to supply chain disruptions and reduced manufacturing and production of drugs and devices used for the treatment of asthma and COPD. This led to a shortage of devices like inhalers and medications like steroids and bronchodilators required on a daily basis by patients suffering from these chronic respiratory conditions. With people restricting their movement, access to hospitals and clinics also became difficult affecting routine check-ups and management of the diseases. The fear of contracting the infection in hospitals led many patients to delay consultations or stop treatments temporarily worsening their health condition.

However, post pandemic some recovery has been seen in the market as restrictions are now being lifted. Manufacturers are ramping up production to meet the rising demand. Teleconsultations and home delivery options for drugs have also increased ensuring continuity of care. Considering the risk posed by COVID-19 to respiratory health, preventive measures and disease management have become more stringent. This is leading to higher diagnosis and treatment rates driving market growth. Research into development of new drugs targeting respiratory infections is also gaining momentum. The long term impact of COVID-19 including expected rise in asthma and COPD cases especially in recovered patients indicate higher focus on respiratory care in the future and sustained growth of this market.

Geographical regions with high concentration in Asthma And COPD market value:

North America holds the largest share of the global Asthma And COPD market in terms of value. The strong presence of major manufacturers, high disease prevalence, raised awareness levels and availability of advanced treatment options have established North America's dominance in this market. According to CDC reports, over 26 million Americans suffer from asthma and COPD indicating a huge patient pool and market potential in the US alone. Europe follows North America with a sizable market share owing to universal healthcare and focus on respiratory illnesses.

Fastest growing region in Asthma And COPD market:

Asia Pacific region is poised to witness the fastest growth in the Asthma And COPD market over the forecast period. Rapid economic expansion, growing per capita income, rising pollution levels and adoption of sedentary lifestyles leading to increased risk factors are driving the incidence of respiratory diseases like asthma and COPD in emerging Asian countries. Support from governmental initiatives in healthcare infrastructure development and higher healthcare spending also provide a strong boost to market growth. With the world's largest population suffering a rising disease burden, Asia Pacific presents immense scope for penetration of advanced treatment technologies presenting lucrative opportunities for key players in this region.

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