Asthma and COPD are chronic respiratory diseases that cause inflammation and narrowing of the airways. Asthma and COPD devices such as inhalers, nebulizers help control symptoms by delivering medicines directly into the lungs. These devices provide faster relief from symptoms compared to oral medications and help improve the quality of life.
The global Asthma And COPD Market is estimated to be valued at US$ 35.2 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technology companies are developing various digital health solutions like wearable devices, mobile applications, and online platforms to help patients better manage their condition. For example, digital devices integrated with sensors can track symptoms, medications used, and physical activity levels of patients. This data when combined with algorithms helps doctors provide personalized care plans and prevent exacerbations. It also enables remote monitoring of patients living in rural areas thereby improving access to care. Such advances in digital health are expected to transform the management of asthma and COPD in the coming years.
Segment Analysis
The Global Asthma And COPD Market Size is segmented on the basis of drug class, distribution channel, and geography. Based on drug class, the market is segmented into bronchodilators, anti-inflammatory drugs, monoclonal antibodies, and combination drugs. The bronchodilators segment dominated the market in 2022 due to wide availability and efficacy of short-acting bronchodilators for quick relief of asthma and COPD symptoms. Short-acting beta2-agonists (SABAs) such as albuterol are the most commonly used bronchodilators globally.
Key Takeaways
The global asthma and COPD market size is expected to witness high growth, exhibiting a CAGR of 4.9% over the forecast period, due to increasing air pollution levels and growing geriatric population globally. Europe dominated the market in 2022 and is expected to continue its dominance over the forecast period, owing to high awareness levels and increasing prevalence of respiratory diseases. North America is expected to be the fastest growing market.
Key players operating in the asthma and COPD market are AstraZeneca, Novartis AG, GSP plc, Merck & Co., Inc., Verona Pharma plc, Regeneron Pharmaceuticals Inc., and Boehringer Ingelheim International GmbH. AstraZeneca is a leading player in the market, offering a wide range of drugs such as Symbicort, Pulmicort, and Fasenra for treatment of asthma and COPD. Novartis AG holds a significant share due to its blockbuster COPD drugs such as Onbrez Breezhaler and Ultibro Breezhaler.
For More Insights, Read- https://www.newsstatix.com/asthma-and-copd-market-size-share-analysis-2023-2030/
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