Research Nester’s recent market research analysis on “Asthma and COPD Drugs Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitor’s analysis and a detailed overview of global asthma and COPD drugs market in terms of market segmentation by distribution channel, route of administration, end user, and by region.
Rising prevalence of Asthma and COPD to Promote Global Market Share of Asthma and COPD Drugs
The growth of the market is mainly driven by the increasing prevalence of asthma and COPD. For example, according to the World Health Organization (WHO), asthma affected about 262 million people in the year 2019 and caused 46,100 deaths. In addition, the increasing number of COPD patients contributes to the growth of the market. For example, according to the American Lung Organization, 99 million adults in the United States have chronic bronchitis, and 2 million adults have emphysema.
New product launches in the global Chronic Obstructive Pulmonary Disease and Asthma Drugs market are expected to contribute to the market growth. Healthcare expenditure is on the rise globally, driven by factors such as population growth, aging, and the increasing burden of chronic diseases.
Growth Drivers:
• Advancement in Respiratory Diseases Therapy
• Increasing healthcare expenditure
Challenges:
Many of the blockbuster drugs used to treat respiratory diseases are coming off patent, which is leading to increased competition from generic drugs. This is likely to reduce the revenue of branded drugs and increase pressure on drug manufacturers to develop new and innovative drugs. Many of the drugs used to treat respiratory diseases are expensive, which can limit patient access to treatment, particularly in low- and middle-income countries.
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By distribution channel, the global asthma and COPD drugs market are segmented into general pharmacies, hospital pharmacies, and online retailers. The hospital pharmacies segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. Respiratory diseases such as asthma and COPD can require hospitalization, particularly in severe cases. The increasing prevalence of these conditions is likely to lead to an increase in hospitalizations, which is likely to drive demand for asthma and COPD drugs in hospital pharmacies. According to a study of 2020, hospitalizations for asthma increased during the COVID-19 pandemic in several countries, across the globe.
By region, asthma and COPD drugs in the Europe region, amongst the market in all the other regions, are projected to hold a majority of the share by the end of 2035. The growth of the market can be owed to the high prevalence of respiratory diseases in the region. The European region has a high burden of respiratory diseases, including asthma and COPD. According to the European Respiratory Society, COPD is the fourth leading cause of death in Europe, and asthma affects approximately 30 million people. The high prevalence of these conditions is likely to drive demand for asthma and COPD drugs in the European market.
This report also provides the existing competitive scenario of some of the key players of global asthma and COPD drugs market which includes company profiling of GlaxoSmithKline plc, AstraZeneca, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd., Novartis AG, Sanofi, CHIESI Farmaceutici S.p.A., Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Abbott, and others.
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