The Asthma and COPD Market Will Grow at Highest Pace Owing To...

The Asthma and COPD Market Will Grow at Highest Pace Owing To Rising Air Pollution Levels

Posted 2024-05-23 07:21:46

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The asthma and COPD market consists of drugs and devices used in the treatment of these respiratory disorders. Drugs used in the treatment include short-acting beta-agonists, inhaled corticosteroids, long-acting beta-agonists, leukotriene modifiers, theophylline, and combination drugs. Devices used include inhalers, nebulizers, and peak flow meters. The global asthma and COPD market is driven by the increasing prevalence of these respiratory disorders owing to rising pollution levels and growing elderly population. According to WHO, air pollution levels are rising at an alarming rate globally due to rapid industrialization and urbanization. Long term exposure to air pollution has been strongly linked to increased risk of asthma and COPD.

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 2024 To 2031.

Key Takeaways

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. The demand for asthma and COPD drugs and devices is increasing owing to the rising prevalence of these disorders globally. Technological advancements include development of smart inhalers and sensors integrated with mobile apps to monitor medication intake and asthma/COPD symptoms.

Fastest growing region in Asthma And COPD market:

Asia Pacific region is poised to witness the fastest growth in the Asthma And COPD market over the forecast period. Rapid economic expansion, growing per capita income, rising pollution levels and adoption of sedentary lifestyles leading to increased risk factors are driving the incidence of respiratory diseases like asthma and COPD in emerging Asian countries. Support from governmental initiatives in healthcare infrastructure development and higher healthcare spending also provide a strong boost to market growth. With the world's largest population suffering a rising disease burden, Asia Pacific presents immense scope for penetration of advanced treatment technologies presenting lucrative opportunities for key players in this region.

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