July 13, 2024
Asthma and COPD Market

The Asthma and COPD Market is Booming Due to Rising Prevalence of Respiratory Diseases

The asthma and COPD market is a rapidly growing segment owing to the increasing prevalence of respiratory diseases worldwide. Asthma and chronic obstructive pulmonary disease (COPD) drugs help minimize symptoms, prevent future attacks, and improve quality of life. These medications include inhaled corticosteroids, long-acting beta-agonists (LABAs), leukotriene modifiers, theophylline, and combination inhalers.

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 of 2024 To 2031.

Key Takeaways

Key players: 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.
Key players operating in the asthma and COPD market are focusing on acquiring smaller players and launching new products to strengthen their market position. In 2021, AstraZeneca acquired Alexion Pharmaceuticals for $39 billion to expand its respiratory portfolio.

Growing demand: The rising geriatric population and growing pollution levels are fueling the incidence of asthma and COPD worldwide. According to WHO, over 235 million people suffer from asthma, while around 3.2 million die from COPD every year.

Global expansion: Leading companies are expanding their asthma and COPD drug manufacturing and distribution bases across emerging nations to tap high growth opportunities. For instance, GSK plans to invest $150 million in its consumer healthcare manufacturing unit in West Bengal, India by 2024.

Market Key Trends

Combination therapies trend: The asthma and COPD treatment landscape is shifting toward fixed-dose combination inhalers that contain two or more drugs. Combination therapies aid better symptom control, improve adherence, and decrease the required dosage. For example, Breo Ellipta by GSK combines fluticasone furoate and vilanterol in a single inhaler.
Digital health solutions: Players are developing digital monitoring devices and mobile apps for remote monitoring of patients, automated medication reminders, and access to physicians online. This enhances treatment management for chronic respiratory diseases.
Personalized care: With rising understanding of disease mechanisms, treatment approaches are moving toward personalized medicine based on an individual’s genetic profile, environmental triggers, symptoms, and lifestyle factors. Several trials are investigating targeted biologics and gene therapies.

Porter’s Analysis

Threat of new entrants: New players will face high costs related to R&D, clinical trials, manufacturing and marketing for launching drugs.

Bargaining power of buyers: Large buyers like government organizations and hospitals can negotiate on price with companies.

Bargaining power of suppliers: Suppliers of raw materials have less bargaining power due to availability of substitute materials and players try to maintain strategic partnerships and long term relations.

Threat of new substitutes: Potential threat from substitute drugs and therapies like inhaled corticosteroids, long-acting beta agonists, antihistamines, and immunotherapy.

Competitive rivalry: Intense competition between major players to gain higher market share through new drug launches and strategic collaborations.

Geographical Regions

North America region accounts for the largest share in the asthma and COPD market in terms of value due to high healthcare expenditure and growing aging population suffering from respiratory diseases. The United States represents the major revenue generating country in this region.
Asia Pacific region is expected to witness the fastest growth over the forecast period owing to rapidly developing healthcare infrastructure, huge patient pool, and increasing incidents of asthma and COPD cases due to rising air pollution levels and growing tobacco consumption in countries such as India and China.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.