Chronic obstructive pulmonary disease (COPD) is a progressive lung disease characterized by long-term breathing problems and poor airflow. The main symptoms include shortness of breath, cough, wheezing and decreased exercise tolerance. It is a common preventable and treatable disease associated with smoking. COPD involves damage to the lungs and results in a narrowing of the airways. The chronic inflammation caused by COPD leads to damage of the lung tissue over a period of time.
The global Chronic Obstructive Pulmonary Disease Market is estimated to be valued at US$11.5 Billion in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024-2029.
Key Takeaways
Key players operating in the chronic obstructive pulmonary disease treatment are GlaxoSmithKline Plc, AstraZeneca, Boehringer Ingelheim International GmbH, Novartis AG, Sunovion Pharmaceuticals Inc. COPD poses a major global health challenge. According to WHO, nearly 328 million people are living with COPD globally in 2020. Major opportunities in the market include substantial research in pulmonary drug delivery, rising focus on new bronchodilators, and growing health awareness among people with increasing pollution levels. North America holds the largest share in the global COPD treatment market owing to high smoking prevalence, sedentary lifestyle, increase in aging population and developed healthcare infrastructure.
Market Drivers
Increasing industrialization and pollution levels worldwide is a major driver for the growth of the COPD treatment market. Rising levels of air pollution from vehicular emissions, industrial waste and cigarette smoking are significant risk factors. According to recent estimates, over 80% of COPD deaths occur in low and middle-income countries indicating high disease burden in developing regions with lax emission standards. Growing geriatric population prone to respiratory ailments also contributes to the rising cases of COPD globally necessitating effective treatment solutions.
PEST Analysis
Political: Government policies and regulations play a major role in determining access and affordability of COPD treatment options. Various countries have different healthcare systems and drug pricing policies which impacts the market.
Economic: The rising healthcare spending on treatment and management of COPD poses a major burden on public healthcare systems. Economic slowdowns may negatively impact the discretionary spending capacity of patients on costly COPD drugs and devices.
Social: Growing trend of tobacco consumption, rising pollution levels and aging population are key social drivers which is increasing the prevalence of COPD worldwide. Greater awareness and health education programs can help in disease prevention.
Technological: Developments in digital health tools, portable inhalers, oxygen concentrators and other novel drug delivery systems are enhancing patient care and support. Telehealth and remote monitoring solutions are gaining relevance especially during the ongoing pandemic.
Geographical regions with high market value
North America accounts for the largest share of the global COPD market in terms of value, owing to high healthcare expenditure, rising disease prevalence and widespread medical insurance coverage in countries like the US. Presence of many global pharmaceutical players and sophisticated supply chain & distribution infrastructure further aids market access in the region.
Asia Pacific is emerging as the fastest growing regional market for COPD. Factors such as rapidly growing elderly population, rising pollution levels and expanding middle class in developing nations are fueling the growth. Widening healthcare coverage through public and private insurance schemes is also increasing the affordability of COPD treatments in key Asian countries. Manufacturers are actively exploring business opportunities in Asia to tap into the future demand potential from this region.
What Are The Key Data Covered In This Chronic Obstructive Pulmonary Disease Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Chronic Obstructive Pulmonary Disease ‘s growth between 2024 and 2031.
:- Accurate calculation of the size of the Chronic Obstructive Pulmonary Disease and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Chronic Obstructive Pulmonary Disease Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Chronic Obstructive Pulmonary Disease vendors
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile