Global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is estimated to be valued at USD 19.21 Bn in 2024, and is expected to exhibit a CAGR of 5.7% over the forecast period (2024-2031). COPD remains a major global health issue, with rising prevalence of smoking and aging population driving the market growth. Furthermore, growing awareness about availability of advanced treatments and new drug launches can drive the market growth.
Market Dynamics:
Global chronic obstructive pulmonary disease (COPD) treatment market growth is driven by increasing smoking prevalence worldwide. Tobacco smoking remains the leading cause of COPD globally. According to WHO, over 1.1 billion people smoke tobacco worldwide, and smoking causes over 8 million deaths annually. Growing geriatric population susceptible to COPD can also drive the market growth. According to the data by United Nations, the number of people aged 65 years and older is projected to grow from 703 million in 2019 to 1.5 billion in 2050. The elderly are at higher risk of developing COPD due to age-related diminished lung function.
Increasing prevalence of COPD globally can drive the market growth
One of the key drivers for the market growth include rising prevalence of COPD worldwide. According to the World Health Organization (WHO), around 65 million people suffer from moderate to severe COPD globally. The prevalence of COPD is highest in North America and Europe, where over 10% of the adult population is estimated to have COPD. However, its incidence is rising rapidly in developing countries due to increasing pollution levels and tobacco consumption. Growing geriatric population can also contribute to rising COPD cases as the risk of developing the disease increases with age. With no signs of reversal in these prevalence-enhancing factors, the demand for COPD medications and devices is expected to grow steadily in the coming years.
Increasing adoption of inhaled therapies can drive the market growth
The shift from oral to inhaled therapies for COPD treatment can drive the market growth. Inhaled medications allow for direct delivery of drugs to the lungs, resulting in better efficacy and fewer systemic side effects. Over the past decade, there has been a significant increase in the usage of inhaled corticosteroids (ICS), long-acting beta2-agonists (LABA), and their combinations for COPD management. The global sales of inhaled therapies currently account for over 80% of the total COPD drug market value. Moreover, the development and approval of new fixed-dose combinations that simplify treatment regimens have boosted patient adherence to inhaled medications. This growing reliance on inhaled therapies compared to oral drugs can drive the growth of market.
High cost of advanced therapies inhibits their uptake
The exorbitant cost of new advanced therapies such as bronchial thermoplasty and lung volume reduction surgeries can hamper the market growth. These procedures involve considerable infrastructure and equipment investment along with high costs of training personnel. Their overall management requires lengthy and expensive hospital stays. This makes them unaffordable and inaccessible for most patients, especially those in low- and middle-income countries. Even in developed markets, the lack of comprehensive insurance coverage discourages widespread use of expensive options. Unless costs come down substantially, adoption of new technologies will remain limited, thus, restraining the total market potential.
Emergence of digital health solutions provides lucrative opportunities
The emergence of digital health solutions for COPD can offer opportunities for the market growth. Technologies like mobile apps, online patient portals, wearable devices, and remote monitoring systems are being increasingly used to help patients better self-manage their condition. These facilitate remote documentation of symptoms, medication use, lung function parameters, and exacerbation risks. This data can be shared securely with physicians to aid early detection and intervention. Such telehealth solutions help reduce exacerbation rates and healthcare utilization costs in the long run. As connectivity and AI capabilities improve further, digital health is poised to transform COPD management creating lucrative business prospects.
Rising demand for combination therapies presents new opportunities
Rising demand for novel fixed-dose combinations of existing medications can offer opportunities for the market growth. Traditionally, COPD drugs from different classes were prescribed as separate inhalers requiring multiple doses per day. However, recent advancements have led to the development of new combinations with improved convenience and efficacy. These have demonstrated enhanced adherence and greater reduction in lung function decline and exacerbation rates compared to individual components. Their increased uptake will allow companies to offer therapies customized for disease severity at affordable price points. Ongoing research into novel combinations involving biologics and anti-inflammatory agents will further expand lucrative business opportunities in this segment over the coming years.
Key Development
- On January 5, 2024, Theravance Biopharma, Inc., a pharmaceutical company, announced results from the Phase 4 PIFR-2 study of YUPELRI (revefenacin) inhalation solution, the only once-daily, nebulized long-acting muscarinic antagonist (LAMA) approved in the U.S. for maintenance treatment of COPD. The PIFR-2 study aimed to demonstrate greater improvement in lung function for YUPELRI delivered via standard jet nebulizer compared to Spiriva (tiotropium) delivered via a dry powder inhaler (Spiriva HandiHaler) in adults with severe to very severe COPD and suboptimal peak inspiratory flow rate (PIFR).
- In November 2023, Lupin, a pharmaceutical company, announced the launch of Vilfuro-G, the world's first fixed-dose triple combination drug (FDC) for the treatment of chronic obstructive pulmonary disease (COPD) in India. Vilfuro-G is available in a single-strength fixed dose, with a recommended once-daily dosage for the treatment of COPD, which refers to a group of diseases that cause airflow blockage and breathing-related problems.
- In June 2022, Verona Pharma, a pharmaceutical company, announced the completion of the patient enrolment, with more than 800 subjects involved for its randomized ENHANCE-1 trial. The study will evaluate ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease. It is a critical step for the phase III ENHANCE trial with top-line data expected by the end of the year 2022 and further data from ENHANCE-2 in the third quarter of 2022.
- In May 2022, Alembic Pharmaceuticals Ltd, a pharmaceutical company, received final approval from the U.S. health regulator for its generic version of Arformoterol Tartrate inhalation solution that is indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the U.S. Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for strength of 15 mcg (base)/2 mL unit-dose vial.
Key Players: AstraZeneca, Orion Corporation, Mylan N.V., Teva Pharmaceutical Industries Ltd., GSK plc, Novartis AG, Sunovion Pharmaceuticals, Inc., CHIESI Farmaceutici SpA, Alembic Pharmaceuticals Ltd, Verona Pharmaceuticals, Theravance Biopharma, F. Hoffmann-La Roche Ltd, Sanofi, Boehringer Ingelheim International GmbH, Merck & Co., Inc, Grifols, S.A., Almirall, S.A, Genentech, Inc
