Asthma and COPD are chronic lung diseases that cause obstruction of airflow in the lungs. Asthma is caused due to inflammation and narrowing of the airways leading to wheezing, chest tightness, shortness of breath etc. COPD mainly includes chronic bronchitis and emphysema causing damage to the lungs over a period of time due to exposure to noxious particles or gases. Products available in the market for the treatment of asthma and COPD include inhaled corticosteroids, long-acting beta2-agonists, anti IgE monoclonal antibody, LAMA, LABA, etc.

The asthma and COPD market is estimated to be valued at US$ 35.2 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The asthma and COPD market is driven by rising incidence of asthma and COPD cases globally. As per the WHO, around 339 million people suffered from asthma in 2019. Moreover, the prevalence of COPD was estimated to be over 174.5 million cases in 2016 as per Global Burden of Disease 2016 study. Increasing pollution levels, growing elderly population, and lifestyle changes such as smoking are the major risk factors fueling the disease prevalence rates. Furthermore, development of innovative inhalation delivery devices and combination therapies for better management of symptoms is estimated to provide lucrative growth opportunities to market players over the forecast period.

SWOT Analysis

Strength: The Global Asthma And COPD Market Size has strong presence of key players which invests heavily in R&D to develop novel drugs and therapies. Further, increasing awareness regarding respiratory diseases and availability of various treatment options aids the growth. Growing geriatric population suffering from respiratory diseases also acts as a strength.

Weakness: High cost associated with drugs and therapies used for treating asthma and COPD restricts their adoption in low and middle income countries. Lack of awareness in developing nations also poses a challenge.

Opportunity: Increasing pollution levels globally leading to rising prevalence of respiratory diseases presents lucrative opportunities. Growing healthcare expenditure in emerging nations provide scope to key players for business expansion.

Threats: Patent expiries of blockbuster drugs poses pricing pressure. Stringent regulations for drug approval can delay market launch of new products. Emergence of alternative treatment options like generics also threatens the established brands.

Key Takeaways

The global Asthma and COPD market is expected to witness high growth, exhibiting CAGR of 4.9% over the forecast period, due to increasing prevalence of respiratory diseases owing to rising pollution levels and growing elderly population.

Regional analysis

North America dominated the global market in 2023 and is expected to remain the largest market during the forecast period. This is attributed to high healthcare expenditures, advanced healthcare facilities and increasing respiratory disease burden in the region. Asia Pacific is anticipated to witness fastest growth over 2023-2030, rising at a CAGR of around 6%, due to improving access to healthcare in China and India.

Key players

Key players operating in the Asthma and COPD market are AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., and Boehringer Ingelheim International GmbH. Key players are engaged in new product launches to consolidate their market position.

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