Report Code : A00221
Alarming rise in prevalence of asthma, improvement in healthcare infrastructure, rise in number of hospitals, and advancement in respiratory diseases therapy are expected to notably contribute toward the growth of the global asthma and COPD drugs market during the forecast period
Onkar Sumant
Manager, Healthcare at Allied Market Research
According to a new report published by Allied Market Research, titled, “Asthma and COPD drugs market by Disease and Medication Class: Global Opportunity Analysis and Industry Forecast, 2021–2030", the asthma and COPD drugs market size was valued at $32988.7 million in 2020 and is projected to reach $52049.54 million by 2030, registering a CAGR of 4.64% from 2021 to 2030.
Asthma is respiratory condition marked by attacks of spasm in the bronchi of lungs, causing difficulty in breathing. It is usually connected to allergic reactions or other forms of hypersensitivity. COPD is a group of respiratory diseases, in which there is constriction of airways and difficulty or discomfort in breathing.
The asthma and COPD can be prevented and treated with drugs such as corticosteroids, short-acting beta agonists, and anticholinergic drugs. In the acute asthmatic attack, patient feels difficulty to breathe due to sudden narrowing of bronchi, generally due to allergens. In acute asthmatic attack, bronchodilators give quick relief and can be life saving for patients.
Factors that drive the growth of the asthma and COPD drugs market include the rise in number of hospitals, increase in number of asthma patients, and advancement in respiratory diseases treatment. For instance, according to World Health Organization (WHO), COPD was the third leading cause of death globally, causing 3.23 million deaths in 2019. Furthermore, government initiatives for the management of respiratory diseases contribute in the growth of the asthma and COPD drugs market.
The asthma and COPD drugs market is segmented on the basis of diseases, medication class, and region.
By diseases, the market is divided into asthma and COPD. The asthma segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to the increase in number patients suffering from asthma.
By medication class, the market is divided into combination drugs, inhaled corticosteroids (ics), short acting beta agonists (saba), long acting beta agonists (laba), leukotriene antagonists (lta), anticholinergics, and others. The combination drugs segment dominated the market in 2020, and this trend is expected to continue during the forecast period, due to high prevalence of respiratory diseases and tobacco smoking habit.
North America accounted for a majority of the global asthma and COPD drugs market share in 2020, and is anticipated to remain dominant during the forecast period. Asia-Pacific is anticipated to witness lucrative growth, owing to the increase in number of asthma and COPD patients.
The COVID-19 outbreak is anticipated to have a negative impact on the growth of the asthma and COPD drugs market as most hospitals are not operating due to COVID-19 and the ongoing lockdowns in many countries. The COVID-19 virus has serious and life-threatening impact on patients with respiratory disorders. However, a huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for the patient diagnosed with COVID-19, and this is expected to increase the diagnosis and treatment of respiratory diseases, which contributes in the market growth.
Key Findings Of Study
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Asthma and COPD Drugs Market by Diseases (Asthma and COPD) and Medication Class (Combination Drugs, Inhaled Corticosteroids (ICS), Short Acting Beta Agonists (SABA), Long Acting Beta Agonists (LABA), Leukotriene Antagonists (LTA), Anticholinergics, and Others.): Global Opportunity Analysis and Industry Forecast, 2021––2030
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