Asthma And COPD Market, By Drug Type (Bronchodilators (Short Acting Bronchodilators, Long Acting Bronchodilators), Anti-Inflammatories (Inhaled Corticosteroids, Leukotriene Modulators and Others), Combination Therapies), By Disease Type (Asthma, and COPD), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe Asia, Pacific Middle East & Africa) is estimated to be valued at US$ 35.2 Bn in 2023 and is expected to exhibit a CAGR of 4.9% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing product approvals by regulatory bodies of respective countries regarding asthma and COPD can drive the growth of global asthma and COPD market over the forecast period. For instance, on January 11, 2023, Airsupra (albuterol/budesonide), formerly known as PT027, was approved in the U.S. for the treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in people with asthma aged 18 years and older. Airsupra is a pressurised metered-dose inhaler (pMDI), fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS).
Global Asthma And COPD Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on global asthma and COPD market. This is because of an increasing number of respiratory diseases that were reported during the COVID period. For instance, according to an article published on August 2, 2022, in Critical Care Medicine Journal, the demand for mechanical ventilators in the U.S. increased during the COVID-19 pandemic. The survey was conducted in the U.S. on different acute care hospitals and hospitals providing pediatric care. The increase in pediatric and neonatal mechanical ventilators was 15.6%.
Global Asthma And COPD Market: Key Developments
Strategies like mergers and acquisitions can increase the reach of the products and customer base of acquiring company, and the product can reach more regions. This is expected to boost market growth during the forecast period.
For instance, in October 2020, AeroRx Therapeutics, a company specialized to help physicians in low-resource settings treat respiratory issues, teamed up with HCmed Innovations Co., Ltd a medical devices developer, to develop a new therapeutic combination of different classes of bronchodilators for the treatment of people with chronic obstructive pulmonary disease (COPD).
Browse 34 Market Data Tables and 29 Figures spread through 150 Pages and in-depth TOC on “Global Asthma And COPD Market”- Forecast to 2030, Asthma And COPD Market By Drug Type (Bronchodilators (Short Acting Bronchodilators, Long Acting Bronchodilators), Anti-Inflammatories (Inhaled Corticosteroids, Leukotriene Modulators and Others), Combination Therapies), By Disease Type (Asthma, COPD), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe Asia Pacific, Middle East & Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/asthma-and-copd-market-4002
Key Takeaways of the Global Asthma And COPD Market:
- The global asthma and COPD market is expected to exhibit a CAGR of 9% during the forecast period. In February 2021, Sanofi, a global healthcare and pharmaceutical company, in collaboration with Regeneron Pharmaceuticals, a U.S.-based biotechnology company, initiated a Phase III clinical trial to assess the efficacy and safety of itepekimab on the annualized rate of acute moderate-or-severe COPD exacerbations in former smokers with moderate-to-severe chronic obstructive pulmonary disease.
- Among disease type, asthma segment is expected to grow in global asthma and COPD market over the forecast period. This is because of the growng number of cases of asthma globally. For instance, according to the data shared on January 1, 2023, by The Asthma and Allergy Foundation of America, a non-profit organization dedicated to finding a cure for and controlling asthma, food allergies, nasal allergies and other allergic diseases, more than 26 Mn people were living with asthma in the U.S. in 2022.
- Among region, North America is expected to be the dominant region in global asthma and COPD market, owing to the increasing product launches in this region For instance, in June 2021, Valeo Pharma, a Canada-based pharma company commercially launched the Enerzair Breezhaler and Atectura Breezhaler for the treatment of asthma patients in Canada. These products have demonstrated that they improve the level of control of asthma symptoms and better prevent related complications.
- Major players operating in global asthma and COPD market include AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., and Boehringer Ingelheim International GmbH.
