Market Size of Asthma and COPD Drugs Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Asthma and COPD Drugs Market Analysis
Asthma and COPD drugs market is expected to witness a CAGR of 4.6% during the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. Chronic obstructive pulmonary disease (COPD) patients had an increased risk of severe pneumonia and poor outcomes when they develop COVID-19. This may be related to poor underlying lung reserves or increased expression of ACE-2 receptors in small airways. An NCNI article published in March 2022, mentioned that COPD is associated with worse clinical outcomes from COVID-19. Also, according to a research study published in the Nature Journal in February 2021, in South Korea, among the COVID-19 infected patients who are 40 years and older, 3.1% had COPD; of these 7.1% received ICU care, and 5.7% received mechanical ventilation. Thus, the COVID-19 pandemic had a significant impact on the asthma and COPD drugs market.
Some of the factors that are driving the market growth include an increase in the incidence and prevalence of asthma and COPD, advanced therapeutic drugs, and a growing geriatric population.
Chronic obstructive pulmonary disease (COPD) is a common, preventable, and treatable chronic lung disease that affects men and women worldwide. According to the NCBI article published in March 2022, the estimated pooled prevalence of COPD was 11.1% in South Asian countries in 2021. The report also mentioned that the prevalence of COPD was highest in North India (19.4%) and Bangladesh (13.5%). Moreover, the increasing geriatric population globally is boosting the market growth. According to the WHO data published in October 2022, the population aged 60 years and over will increase to 1.4 billion in 2030 and is expected to reach 2.1 billion by 2050. The UN report in 2022 mentioned that the share of the population aged 65 years or over is projected to rise from 10% in 2022 to 16% in 2050. As, the geriatric population is most prone to developing asthma conditions, the increase in the geriatric population is expected to contribute to the growth of the market.
In addition, technological advancements are anticipated to provide the market with lucrative opportunities. Limitations of traditional treatments, such as the late onset of action and low efficacy, are projected to encourage the development of novel targeted drugs, thereby boosting the market. For instance, in February 2021, Sanofi, in collaboration with Regeneron Pharmaceuticals, initiated a Phase III clinical trial to assess the efficacy and safety of itepekimab on the annualized rate of acute moderate-or-severe COPD exacerbations in former smokers with moderate-to-severe chronic obstructive pulmonary disease (COPD). The trial was expected to be completed in July 2024.
The market players are adopting various strategies such as product launches, developments, collaborations, acquisitions, and expansions to increase their market shares. For instance, in June 2021, Valeo Pharma Inc. commercially launched the Enerzair Breezhaler and Atectura Breezhaler for the treatment of asthma patients in Canada. These products have demonstrated that they improve the level of control of asthma symptoms and better prevent related complications.
Thus, the factors such as an increase in the incidence and prevalence of asthma and COPD, advanced therapeutic drugs, and increasing product developments are expected to contribute to the growth of the market. However, factors such as stringent government regulations for product approvals and side effects associated with drugs are expected to impede market growth over the forecast period.
