Chronic Obstructive Pulmonary Disease (COPD) is a progressive lung disease that makes it hard to breathe. It gradually destroys the air sacs (alveoli) in the lungs through chronic inflammation. Symptoms typically include breathing difficulty, chronic cough, mucus (sputum) production, and wheezing. COPD requires long-term treatment to manage symptoms and slow progression. Common treatments include bronchodilators, corticosteroids, oxygen therapy, pulmonary rehabilitation, and lung transplantation in severe cases.
The global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is estimated to be valued at US$ 18.1 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing incidence of smoking-related COPD is the major factor driving the growth of the market. Cigarette smoking is the foremost risk factor for COPD globally. According to the World Health Organization (WHO), cigarette smoking is estimated to cause over 80% of COPD deaths. Moreover, exposure to secondhand smoke and indoor air pollution are also significant causes of COPD. With rising cigarette consumption, increasing urbanization and pollution levels, the prevalence of COPD cases is surging steadily. This widening patient pool is prompting greater demand for COPD drugs and devices, thereby fueling market revenue over the forecast period. Despite various smoking cessation initiatives, the growing prevalence due to past smoking habits is likely to sustain the market growth through 2030.
Segment Analysis
The global Chronic Obstructive Pulmonary Disease (COPD) treatment market is dominated by drug therapy, accounting for over 70% of the market. Drug therapy is further divided into bronchodilators, which are the primary form of treatment used. Long-acting bronchodilators are the most commonly used drugs to manage COPD symptoms and prevent attacks. They work by relaxing and widening the airways of the lungs, making it easier to breathe.
Key Takeaways
The Global COPD Treatment Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is estimated to be valued at US$ 18.1 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates the market, owing to high awareness levels and easy accessibility to advanced treatment options. However, Asia Pacific is expected to grow at the fastest rate led by countries such as China and India due to a significant patient pool and improving healthcare infrastructure.
Key players: Key players operating in the Chronic Obstructive Pulmonary Disease (COPD) Treatment market are AstraZeneca, Boehringer Ingelheim, GSK, Novartis, Chiesi Farmaceutici, and Cipla. AstraZeneca holds the leading market share on account of its blockbuster long-acting bronchodilator Symbicort being one of the highest selling COPD drugs worldwide.
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https://www.newswirestats.com/chronic-obstructive-pulmonary-disease-copd-treatment-market-size-share-growth-outlook-2023/
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