The global COPD therapeutics market garnered a market value of USD 12,144.1 million in 2023 and is expected to accumulate a market value of USD 20,035.5 million by 2033, registering a CAGR of 5.1% over the forecast period.
The growth of the COPD therapeutics market can be attributed to an increase in smoking and genetic disorders. The market for COPD therapeutics registered a CAGR of 4.8% during the historical period.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2022) | USD 11,668.2 million |
| Expected Market Value (2023) | USD 12,144.1 million |
| Anticipated Forecast Value (2033) | USD 20,035.5 million |
| Projected Growth Rate (2023 to 2033) | 5.1% CAGR |
Surgery is recommended in case of the extreme severity of COPD, including lung volume reduction surgery, lung transplant, and bullectomy, and the adoption of COPD therapeutics rises as COPD is one of the leading causes of death worldwide.
Triple therapy, LABA-ICS, LAMA-ICS, and other combination medications are examples of combination therapy. As using a bronchodilator and a corticosteroid separately is less effective, combination therapy is becoming more popular, positively impacting the market outlook.
Combination therapy is superior to monotherapy for treating the signs and symptoms of chronic obstructive pulmonary disease and enhancing the quality of life. Moreover, the COPD therapeutics market growth is anticipated to rise as a result of a rise in the number of patients who are successfully treated with combination therapy but did not improve after receiving bronchodilators or corticosteroids.
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Lifestyle change is responsible for increasing the habits like smoking and increase in the number of genetic disorders, which in turn are responsible for raising the number of COPD patients and expanding the COPD therapeutics market size.
Other factors that can boost the revenue from the COPD therapeutics market are rising healthcare expenditures, leading to the adoption of COPD treatments in emerging economies. The demand for COPD therapeutics can also be owed to an increase in the level of awareness which has also led to the early diagnosis of COPD so that people can go for the treatment of the disease.
Additionally, it is projected that new product launches and advances in the global market for Chronic Obstructive Pulmonary therapeutics in respiratory illness therapy will aid in the industry's expansion. Betterment of the healthcare infrastructure in the Asia Pacific and the Middle East, and Africa is also responsible for the revenue growth of the COPD therapeutics market during the forecast period.
Factors that can limit the growth of the therapeutic enzymes over the forecast period include the fact that not all patients suffering from COPD are aware of the fact that they are suffering from the disease and therefore do not go for the treatment of the disease.
Also, sometimes people get to know about their disease when only medication and therapies, and surgery can’t cure the disease becomes mandatory. This factor can also lead to sluggish growth in the revenue from the COPD therapeutics market.
| Region | North America |
|---|---|
| Market Share % (2022) | 36.2% |
According to National Heart, Lung, and Blood Institute, more than 15 million people are affected by COPD. This has increased the dependency on COPD therapeutics to access early treatment for the same. In addition, the strong presence of key players in the region is accelerating the growth of the COPD therapeutics market.
Moreover, developing health infrastructure is fuelling the growth of the COPD therapeutics market. Thus, due to the aforementioned reasons, North America is expected to possess more than 36.2% market share for COPD therapeutics in 2023.
| Region | Europe |
|---|---|
| Market Share % (2022) | 29.8% |
According to Asthma Lung UK+, more than 1.3 million people suffer from COPD. This has led the country's government to design initiatives to create awareness regarding COPD. In addition, the increasing geriatric population in the country is contributing to the growth of the COPD market.
Furthermore, the growing inclination towards early treatment positively influences the market's growth. Thus, due to the reasons mentioned above, Europe is expected to hold a more than 29.8% COPD therapeutics market share in 2023.
Key start-up players in the COPD therapeutics market are Omnispirant, Atriva Therapeutics, Altavant Sciences, Exvastat, and ReAlta Life Sciences.
The COPD market is consolidated, with only a few significant firms present, and the primary strategies used by the top companies are product portfolio expansion and mergers and acquisitions.
One of the major recent developments in the COPD therapeutics market is when AstraZeneca’s Bevespi Aerospherehas received approval in China as a maintenance treatment to relieve symptoms in patients suffering from COPD.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 12,144.1 million |
| Market Value in 2033 | USD 20,035.5 million |
| Growth Rate | CAGR of 5.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Component, End User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, Japan, South Korea, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Pfizer Inc.; Adamis Laboratories Inc.; GlaxoSmithKline plc; AstraZeneca; Merk & Co; Novartis AG; Mylan N.V.; Teva Pharmaceutical Industries |
| Customization | Available Upon Request |
The market in 2023 is valued at USD 12,144.1 million.
The market rose at a 4.8% CAGR from 2018 to 2022.
The market will register a 5.1% CAGR until 2033.
By 2033, the market will reach USD 20,035.5 million.
Europe’s market share in 2022 was 29.8%.
COPD Therapeutics Market
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