Chronic Obstructive Pulmonary Disease (COPD) Treatment Market Outlook 2031
- The global chronic obstructive pulmonary disease (COPD) treatment market was valued at US$ 19.8 Bn in 2021
- The global market is projected to grow at a CAGR of 4.4% from 2022 to 2031
- The global chronic obstructive pulmonary disease (COPD) treatment market is anticipated to reach more than US$ 30.4 Bn by the end of 2031
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Global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market Introduction
Chronic obstructive pulmonary disease is a group of conditions affecting the lungs that lead to difficulty in breathing. Chronic bronchitis and emphysema are the two major types of chronic obstructive pulmonary diseases. Breathlessness is a key characteristic of COPD. In case of emphysema, the alveoli (tiny air sac) in the lungs is damaged. The walls of the alveoli are stretched, making the lungs bigger and resulting in difficulty in the movement of air. In chronic bronchitis, bronchial airways (breathing tubes) inside the lungs are inflamed.
High prevalence of COPD across the globe and rich pipeline of drugs for COPD treatment are likely to drive the global market during the forecast period. Furthermore, increase in geriatric population and unhealthy lifestyle choices among various age groups are projected to propel the chronic obstructive pulmonary disease (COPD) treatment market in the near future.
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Rise in Prevalence of COPD Across Globe
Chronic obstructive pulmonary disease (COPD) is a major health concern affecting a large number of people across the globe. The disease burden is rising, thereby increasing the need for COPD management. Tobacco smoking could lead to COPD. The number of adults addicted to smoking has been increasing across the globe. Other risk factors include occupation and indoor air pollution. According to the WHO, the primary cause of COPD is exposure to tobacco smoke (either active smoking or passive smoking).
According to the organization, chronic obstructive pulmonary disease (COPD) is the third leading cause of death globally, accounting for 3.23 million deaths in 2019. Nearly 90% of COPD deaths in those under 70 years of age occur in low- and middle-income countries (LMIC). According to a report by the Global Initiative for Chronic Obstructive Lung Disease (GOLD) published in 2022, the prevalence and burden of COPD is projected to increase in the near future due to continued exposure to COPD risk factors, rise in incidence of interstitial lung diseases, and aging population across the world. This is anticipated to augment the chronic obstructive pulmonary disease treatment market in the near future.
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Increase in Adoption of More Effective Combination Therapy to Drive Global COPD Treatment Market
Combination therapies include LAMA-ICS, LABA-ICS, triple therapy, and other combination drugs. Adoption of combination therapy is increasing, as it is more effective than separate use of bronchodilators and corticosteroids. Increase in the number of patients successfully treated with combination therapy who were not showing signs of recovery with bronchodilators or corticosteroid treatments is expected to fuel the global chronic obstructive pulmonary disease treatment market. Combination therapy is more effective than monotherapy for improving symptoms and quality of life.
Growth in Success Rate of COPD Treatment to Augment Combination Therapy Segment
In terms of drug class, the global COPD treatment market has been classified into combination therapy, bronchodilators, corticosteroids, phosphodiesterase type 4 inhibitor, mucokinetics, and others. The combination therapy segment held major share of around 50% of the global market in 2021. It is likely to dominate the global market during the forecast period, owing to the increase in efficacy of combination therapy in COPD treatment. Rise in the success rate of combination therapy in COPD treatment and recent regulatory approvals have augmented the adoption of combination therapy. This is projected to drive the segment during the forecast period.
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Surge in Airflow Blockage and Breathing Issues among Smokers Fueling Chronic Bronchitis Segment
In terms of type, the global COPD treatment market has been bifurcated into chronic bronchitis and emphysema. The chronic bronchitis segment accounted for the largest chronic obstructive pulmonary disease treatment market share in 2021. Chronic bronchitis is a group of lung diseases that causes airflow blockage and breathing issues. It is widespread among smokers and rising at a rapid pace.
Rise in Number of COPD Therapeutics Dispensed to Boost Retail Pharmacies Segment
Based on distribution channel, the global market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment is anticipated to account for major share of the global chronic obstructive pulmonary disease treatment market during the forecast period. The segment is expected to grow at a rapid pace during the forecast period, owing to the increase in number of COPD therapeutics dispensed through retail pharmacies and rise in number of retail pharmacies in developing countries.
Regional Outlook of Chronic Obstructive Pulmonary Disease (COPD) Treatment Market
As per chronic obstructive pulmonary disease treatment market analysis, North America accounted for the largest share of around 40% of the global market in 2021. The market in the region is projected to grow at a CAGR of 4.3% from 2022 to 2031. This can be ascribed to the highly structured health care industry and availability of well-defined reimbursement policies from private and public health insurance firms. Furthermore, rise in research & development activities to provide advanced and efficient products, and presence of a large number of players are driving the chronic obstructive pulmonary disease treatment market size in North America.
Europe held the second largest share of the global market in 2021. Well-developed health care infrastructure and increase in incidence of chronic obstructive pulmonary diseases are propelling the COPD treatment market in the region.
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The market in Asia Pacific is expected to grow at the fastest CAGR of 4.7% during the forecast period. The region has a relatively untapped chronic obstructive pulmonary disease treatment market compared to developed regions. Therefore, Asia Pacific offers significant opportunities to market players. High prevalence of chronic obstructive pulmonary disease, increase in geriatric population, surge in patient population, and growth of the health care industry are propelling the chronic obstructive pulmonary disease treatment market in the region.
Analysis of Key Players in Global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market
The global chronic obstructive pulmonary disease (COPD) treatment market is consolidated, with the presence of a small number of key players. As per chronic obstructive pulmonary disease treatment market trends, leading players in the market are adopting strategies such as new product development, product launches, product approvals, agreements, partnerships, and mergers. Key players operating in the global chronic obstructive pulmonary disease (COPD) treatment market are Almirall, AstraZeneca, Boehringer Ingelheim International GmbH, CHIESI Farmaceutici S.p.A., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Kyowa Hakko Kirin, Mylan N.V., Novartis AG, Orion Corporation, Sanofi, Sunovion Pharmaceuticals, Inc. (Sumitomo Dainippon Pharma Co., Ltd.), Teva Pharmaceutical Industries Ltd., Theravance Biopharma, and Verona Pharmaceuticals.
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