The global asthma & COPD market size is expected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising frequency of asthma & COPD cases globally.
Asthma refers to a chronic respiratory disease condition in which the airways of lung are blocked due to inflammation, mucus production, or tightening of muscles. Some of the common symptoms of asthma are shortness of breath, chest pain, wheezing while exhaling (common sign of asthma in children), and problems while sleeping due to shortness of breath, coughing or wheezing, which can get worse because of viral attack on respiratory system such as a flu or cold. Chronic obstructive pulmonary disease (COPD) is a persistent obstruction of airflow in the lungs, which produces symptoms such as tiredness, chronic cough, abnormal sputum, chest infections, breathlessness or shortness of breath, ankle swelling, and loss of weight.
The global asthma & COPD market size is expected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising frequency of asthma & COPD cases globally.
Asthma refers to a chronic respiratory disease condition in which the airways of lung are blocked due to inflammation, mucus production, or tightening of muscles. Some of the common symptoms of asthma are shortness of breath, chest pain, wheezing while exhaling (common sign of asthma in children), and problems while sleeping due to shortness of breath, coughing or wheezing, which can get worse because of viral attack on respiratory system such as a flu or cold. Chronic obstructive pulmonary disease (COPD) is a persistent obstruction of airflow in the lungs, which produces symptoms such as tiredness, chronic cough, abnormal sputum, chest infections, breathlessness or shortness of breath, ankle swelling, and loss of weight.
Changes in environmental conditions due to pollution, the number of asthma & COPD are rising over the years. As per the World Health Organization (WHO) 2021 factsheet, COPD is the third biggest health issue responsible for 3.20 million death in 2019 globally. This havoc was mainly faced by the people of developing or underdeveloped countries as the mortality rate was extremely high, which was around 80% of the total deaths occurred. As per the 2018 report published by the Global Initiative for Chronic Obstruction Disease, the annual death rate of COPD is anticipated to be around 4 million people by 2030 globally. According to a report by WHO, around 260 million people suffered from asthma and caused 461000 deaths in 2019. The most common chronic disease in children is asthma.
A substantial rise in number of the geriatric population worldwide is a key factor for increasing asthma cases over the years. Based on the World Ageing 2020 statistics, there were around 730 million people of age 65 years or above suffering from asthma in 2020 globally and the number is projected to reach 1.4 billion by 2050. Additionally, factors such as increasing expansion of new factories, increasing road traffic due to growing number of vehicles, and environment degradation are responsible for pollution. This is a major reason for causing asthma worldwide. Meanwhile, the COVID-19 pandemic had also positively impacted the market as the patients with asthma or COPD were at higher risk of getting contracted with the virus. Most of the patients having asthma or COPD are recommended to be hospitalized as the coronavirus easily attacked these patients in a short period of time.
Market Trends, Drivers, Restraints, and Opportunities
- Rising smoking habits among a large number of the global population and inactive lifestyle are key reasons for high disease cases globally. This is expected to bolster the market growth.
- Development of novel technology and introduction of personalization of medicine for the treatment of asthma along with strong pipeline for drugs are propelling the market revenue.
- Improving healthcare facilities and rising public awareness along with high disposable income of people in emerging economies are boosting the market expansion.
- High cost of treatment and drugs for asthma & COPD along with long duration of the disease treatment are major factors that hinder the market growth.
- Strict government guidelines for the approval of asthma & COPD drugs, side effects of drugs, and patent expiry of the drugs act as key restraints to the market growth.
Key Players
- AstraZeneca PLC
- Novartis AG
- GlaxoSmithKline plc
- Merck & Co.
- Verona Pharma plc,
- Regeneron Pharmaceuticals, Inc.
- Boehringer Ingelheim GmbH
Competitive Landscape
Key players competing in the global asthma & COPD market are AstraZeneca PLC; Novartis AG; GlaxoSmithKline plc; Merck & Co.; Verona Pharma plc; Regeneron Pharmaceuticals, Inc.; and Boehringer Ingelheim GmbH.
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