Asthma and COPD Drugs Market Projected to Grow at a Steady Pace During 2022-2028
The Asthma and COPD Drugs Market is segmented by Drug Class Type (Combination Drugs, Bronchodilators, Inhaled Corticosteroids (ICS), Short Acting Beta Agonists (SABA), Long Acting Beta Agonists (LABA), Leukotriene Antagonists (LTA), Anticholinergics, Anti-Inflammatories, Others), by Application Type (Asthma and COPD), by Distribution Channel Type (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]).
What is Asthma and COPD drugs market?
The global market for asthma and COPD medications is expanding as a result of factors such the ageing population, technological advancements, and increased asthma and COPD prevalence. Globally, COPD is spreading more quickly. According to the World Health Organization's (WHO) 2021 Dataset, with 3.23 million fatalities in 2019, COPD is the third most common risk factor for death worldwide. More than 80% of the fatalities occurred in developing and middle-income countries. Additionally, the global market for asthma and COPD medications is expanding as a result of the rising prevalence of asthma.
Market Dynamics
The global market for medications to treat COPD and asthma is expanding due to the ageing population. In 2020, there will be around 727 million individuals worldwide who are 65 or older, according to the World Ageing 2020 forecast. The world's senior population is projected to reach 1.5 billion by 2050. The percentage of individuals 65 and older in the world increased from 9.3% in 2020 to 16% in 2050. As a result, this aspect is promoting the growth of the global market for asthma and COPD medications. The asthma and COPD drugs market was estimated at US$ 37.9 billion in 2021 and is expected to grow at a CAGR of 5.34% during 2022-2028 to reach US$ ~54.40 billion in 2028.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Asthma and COPD drugs market analysis report discusses the following heads in details:
· Market structure: Overview, industry life cycle analysis, supply chain analysis.
· COVID-19 Impact Assessment.
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
· Market trend and forecast analysis.
· Market segment trend and forecast.
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities.
· Emerging trends.
· Strategic growth opportunities for the existing and new players
· Key success factors.
Regional Analysis
The asthma and COPD drugs market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America dominated the market for medications for COPD and asthma. The increased incidence of asthma and COPD is the primary driver of the market for asthma and COPD medications in North America. In the United States, adult women are more likely to have asthma than adult men. The Centers for Disease Control predict that roughly 25 million Americans will have asthma by 2020. This translates to about one in every thirteen Americans, with children making up 7% of this group and adults 8%. Around 20 million Americans suffer with asthma. As a result, the region's market for asthma and COPD medications is expanding due to the increase in asthma patients.
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