Asthma is a disease that affects your lungs. The condition may cause difficulty breathing, chest pain, cough, and wheezing.
The global asthma and COPD market is estimated to account for US$ 30,710.2 Mn in terms of value in 2020 and is expected to reach US$ 42,608 Mn by the end of 2027.
Global Asthma and COPD Market: Drivers
Increasing prevalence of asthma is expected to propel growth of the global asthma and COPD market over the forecast period. For instance, according to The Global Asthma Report 2018, around 300 million people have asthma worldwide, and the number is expected to reach 100 million by 2025.
Global Asthma and COPD Market: Restraints
Drugs losing patent protection is expected to hinder growth of the market. For instance, AstraZeneca’s Daliresp (roflumilast) indicated for patients with severe COPD lost patent protection in January 2020.
The global asthma and COPD market was valued at US$ 29,386.8 Mn in 2019 and is forecast to reach a value of US$ 42,608.1 Mn by 2027 at a CAGR of 4.8% between 2020 and 2027. Major factor driving the growth of global asthma and COPD market during the forecast period include high prevalence of respiratory diseases, and product launches.
Combination Therapies held dominant position in the global asthma and COPD market in 2019, accounting for 57.0% share in terms of value, followed by Bronchodilators and Anti-Inflammatories, respectively. Product launches in in the combination therapies segment is expected to support growth of the segment over the forecast period.
Increasing investment in development of inhalation products is expected to propel growth of the global asthma and COPD market. For instance, in July 2020, CF PharmTech, Inc. raised US$ 50 million in Series F financing to accelerate the commercialization of its inhalation products for the treatment of respiratory diseases.
Moreover, R&D of novel dry powder inhalation formulations is also expected to aid in growth of the market. For instance, in June 2020, researchers from University of Szeged, Hungary, developed carrier-based dry powder inhalation system, which is an interactive physical blend of a surface-modified carrier and a spray-dried drug with suitable shape and size for pulmonary application.
Global Asthma and COPD Market: Competitive Landscape
Major players operating in the global asthma and COPD market include, AstraZeneca, Novartis AG, GlaxoSmithKline plc, Merck & Co., Verona Pharma plc,, Regeneron Pharmaceuticals, Inc., GlaxoSmithKline plc, and Boehringer Ingelheim GmbH.
Global Asthma and COPD Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in June 2020, Regeneron Pharmaceuticals, Inc. received the U.S. Food and Drug Administration (FDA) approval for a 300 mg single-dose pre-filled pen for Dupixent (dupilumab) for use in certain patients with atopic dermatitis, asthma and chronic rhinosinusitis with nasal polyposis (CRSwNP), for at-home administration.
Major players in the market are also focused on R&D of new therapies to expand their product portfolio. For instance, in May 2020, Verona Pharma plc, a clinical-stage biopharmaceutical company, received written comments from the U.S. Food and Drug Administration (FDA) in response to its End-of-Phase 2 briefing package for nebulized ensifentrine as a maintenance treatment for COPD.