by Chronic Obstructive Pulmonary Disease (COPD) refers to a group of lung diseases that block airflow and make breathing difficult. It includes emphysema and chronic bronchitis. The main symptoms of COPD are breathlessness, cough, mucus (sputum) production and wheezing. COPD usually develops due to long-term exposure to irritating gases or particulate matter, most often from cigarette smoking. Other irritants that can cause COPD include secondhand smoke, air pollution, chemical fumes or dust from the environment or workplace.
The global Chronic Obstructive Pulmonary Disease Market is estimated to be valued at US$11.5 Billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024-2029.
Treatment of COPD involves relieving symptoms, avoiding and reducing further lung damage, treating flare-ups or exacerbations and improving quality of life. The market offers drugs such as bronchodilators, anti-inflammatory drugs, antibiotics and vaccines. Devices such as inhalers, nebulizers, oxygen concentrators and ventilators are also used for managing COPD. The rising global prevalence of COPD driven by increasing smoking rates, aging population and air pollution is expected to drive the demand for COPD drugs and devices over the coming years.
Key Takeaways
Key players operating in the COPD market are GlaxoSmithKline, AstraZeneca, Boehringer Ingelheim Pharmaceuticals, Novartis AG, Chiesi Farmaceutici, and Sunovion Pharmaceuticals. GlaxoSmithKline offers drugs like Advair, Breo Ellipta and Relvar Ellipta for treatment of COPD.
The growing disease burden of COPD across the world especially in developing nations is leading to increased demand for COPD drugs and devices. As per estimates, over 380 million people currently suffer from COPD globally and it is the third leading cause of death. With rising air pollution levels and smoking rates, the prevalence of COPD is expected to increase substantially in the coming decade.
In terms of geography, North America dominates the global COPD market due to high smoking rates, sedentary lifestyle and elderly population prone to COPD in the region. However, Asia Pacific is expected to witness the highest growth during the forecast period supported by fast growing economies of China and India, large population base and improving access to healthcare. Manufacturers are expanding their reach in Asia Pacific and other emerging markets to tap the business opportunities.
Market Key Trends
Rising cigarette consumption globally is a major factor driving the COPD market presently. After decades of decline in the Western world, cigarette smoking rates are rising again in many countries, especially in developing Asian economies like China and Indonesia. As smoking is the primary cause of COPD, increasing exposure to cigarette smoke will translate into higher disease prevalence rates going forward. This rising smoking-led disease burden ensures a steady COPD case load and continued need for drugs, devices and disease management over the long run.
Porter’s Analysis
Threat of new entrants: High as significant capital investment needed to enter. Existing players like Chiesi and AstraZeneca have strong brand and customer loyalty.
Bargaining power of buyers: Moderate as buyers have alternative treatment options. However demand inelastic as COPD is a life-threatening illness.
Bargaining power of suppliers: Low as raw materials for COPD drugs are widely available. Suppliers have less control over pricing.
Threat of new substitutes: Low as no significantly effective substitute currently available for managing COPD symptoms.
Competitive rivalry: Intense as existing players compete on innovation, pricing and marketing of combination inhalers.
Geographical Regions
North America accounts for over 40% of global COPD drugs market value owing to high smoking rates and rising pollution levels. Availability of specialty healthcare and reimbursement has further boosted industry in the US and Canada.
Asia Pacific market isfastest growing due to improving access to healthcare in China and India coupled with growing geriatric population and increasing air pollution in major cities. Rising disposable incomes allow more patients to afford maintenance drugs for COPD.
What Are The Key Data Covered In This Chronic Obstructive Pulmonary Disease Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Chronic Obstructive Pulmonary Disease ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the Chronic Obstructive Pulmonary Disease and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Chronic Obstructive Pulmonary Disease Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Chronic Obstructive Pulmonary Disease vendors
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
