by Chronic obstructive pulmonary disease (COPD) refers to a group of lung diseases that block airflow and make breathing difficult. It encompasses emphysema and chronic bronchitis. COPD is a progressive lung disease that makes it hard to breathe over time. The main cause of COPD is long-term exposure to irritating gases or particulate matter, primarily from cigarette smoke. The four primary drugs used in the treatment of COPD are short-acting beta2-agonists (SABAs), long-acting beta2-agonists (LABAs), inhaled corticosteroids (ICS), and long-acting muscarinic antagonists (LAMAs). SABAs provide quick relief from acute symptoms but have a relatively short duration of action. LABAs, ICS, and LAMAs have a longer duration of action and are thus used for maintenance therapy.
The global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is estimated to be valued at US$ 18.1 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the chronic obstructive pulmonary disease (COPD) treatment market growth is the rising geriatric population globally. According to the United Nations Population Fund (UNFPA), by 2050 almost one-fifth of the global population will be over 60 years old. Since COPD commonly occurs in older individuals above the age of 40, the growth in the aging population is expected to significantly boost the demand for COPD therapeutics. Older people are more susceptible to developing COPD as natural wear and tear of the lungs, along with long-term exposure to environmental pollutants and smoking, increases the risks. Hence, the large aging demography will present lucrative business opportunities for manufacturers of COPD medications in the upcoming years.
Porter’s Analysis
Threat of new entrants: Low-High, as it requires significant investment in R&D to develop new drugs for COPD treatment. However, large pharmaceutical companies can enter the market easily.
Bargaining power of buyers: High, as buyers have many treatment options available from different manufacturers.
Bargaining power of suppliers: Moderate, as raw material suppliers have established relationships with manufacturers.
Threat of new substitutes: Low, as there are limited treatment alternatives available for COPD currently.
Competitive rivalry: High, as the market is dominated by few large players. Intense competition on factors like product innovation, pricing and brand loyalty.
Key Takeaways
The Global COPD Treatment Market Share is expected to witness high growth. The global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is estimated to be valued at US$ 18.1 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.
Regional analysis comprised North America currently dominates the COPD treatment market due to high awareness levels and developed healthcare infrastructure in the region. However, Asia Pacific is expected to witness fastest growth over the forecast period owing to rising pollution levels and growing geriatric population.
Key players operating in the COPD treatment market are GlaxoSmithKline plc, AstraZeneca, Boehringer Ingelheim International GmbH, Novartis AG, and Sunovion Pharmaceuticals Inc. GlaxoSmithKline plc offers several products like reliever inhalers, preventer inhalers and others for COPD treatment. AstraZeneca produces Symbicort for combined inhaler therapy to prevent COPD symptoms.
