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Asthma and COPD Drugs Market Size to Hit USD 34,374.23 Million by 2030 at 4.20% CAGR –

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Asthma and COPD Drugs Market Trends, Growth and Insights by Disease (COPD and Asthma), Product (Long-Term Asthma Control Medications, Quick Relief Medications), Route of Administration (Oral, Inhaled), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa), Competitive Market Size, Share and Forecast to 2030

New York, USA, Dec. 14, 2022 (GLOBE NEWSWIRE) — Asthma and COPD Drugs Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Asthma and COPD Drugs Market Information by Disease, Product, Route of Administration and Distribution Channel, and Region – Forecast till 2030”, the market is projected to reach USD 34,374.23 Million by 2030 at 4.20% CAGR during the forecast period 2022-2030.

Market Synopsis

The respiratory disorder known as asthma is characterized by episodes of bronchial spasm that make it difficult to breathe. It frequently has an association with allergic reactions or other types of hypersensitivity. A collection of respiratory conditions known as COPD cause constricted airways and uncomfortable or difficult breathing.

With the use of medications like corticosteroids, short-acting beta agonists, and anticholinergics, asthma and COPD can be prevented and controlled. The patient experiences breathing trouble during an acute asthmatic episode because the bronchi suddenly shorten, usually as a result of allergens. Bronchodilators provide immediate relief during an asthma attack and may even save the patient’s life.

To create medications that would provide patients with asthma and chronic obstructive pulmonary disease with a higher quality of life, researchers have been pinpointing the various locations in the airways and lungs (COPD). They created a brand-new medication that would clear mucus from the airways, making it easier for patients to breathe than previously. Additionally, businesses have been receiving regulatory authority approvals. Drug development for COPD and asthma will pick up in the upcoming years.

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Report Scope:

Report Attribute

Details

Market Size in 2030

USD 34374.23 Million

CAGR

4.20%

Base Year

2021

Forecast Period

2022-2030

Historical Data

2020

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Disease, Product, Route of Administration and Distribution Channel.

Geographies Covered

North America, Europe, Asia-Pacific, and Rest of the World (RoW)

Key Market Drivers

The increasing prevalence & incidence rate of asthma and COPD

Rapidly changing lifestyle and high R&D expenditure

Asthma and COPD Drugs Market Competitive Landscape:

The important participants in asthma and COPD drugs industry include

The market for COPD and asthma drugs is competitive and consolidated. The market is competitive, and the major companies engage in mergers and acquisitions, the creation of new products, partnerships and collaborations, and growth plans to increase market penetration.

In November 2022, A generic version of Formoterol Fumarate Inhalation Solution, which is used to treat chronic obstructive pulmonary disease, was released, according to pharmaceutical giant Lupin Ltd. (COPD). To compete with Mylan Specialty’s Perforomist Inhalation Solution, 20 mcg/2 mL, Lupin announced the launch of Formoterol Fumarate Inhalation Solution, 20 mcg/2 mL per unit-dose vial.

Asthma and COPD Drugs Market Dynamics:

Market Drivers:

With the use of medications like corticosteroids, short-acting beta agonists, and anticholinergics, asthma and COPD can be prevented and controlled. The patient experiences breathing trouble during an acute asthmatic episode because the bronchi suddenly shorten, usually as a result of allergens. Bronchodilators provide immediate relief during an asthma attack and may even save the patient’s life.

Obtaining regulatory agency authorization is crucial as new pharmaceuticals enter the market. The first generic version of Symbicort from AstraZeneca has been approved by the U.S. Food & Drug Administration (FDA). Breyna (budesonide and formoterol fumarate dehydrate), created by Viatris and Kindeva Drug Delivery, received FDA approval. It is a drug that is breathed and can be used to treat COPD and asthma. Over six-year-old patients with these diseases may use this medication. People with acute asthma should not use this inhaler, according to the FDA.

Asthma prevalence and incidence have significantly increased, which has increased the patient population and boosted demand for these medications. Asthma is a significant non-communicable disease (NCD) that affects both children and adults, according to the World Health Organization’s (WHO) 2021 factsheet. In 2019, it reportedly had a negative impact on 262 million people worldwide and killed 461,000 individuals. The main players in the market have business strategies that include significant investments in the research of asthma medications along with strategic alliances like mergers and acquisitions.

Additionally, the global market for medications to treat COPD and asthma is expanding due to the ageing population. In 2020, there will be around 727 million individuals worldwide who are 65 or older, according to the World Ageing 2020 forecast. The world’s senior population is projected to reach 1.5 billion by 2050. The percentage of individuals 65 and older in the world increased from 9.3% in 2020 to 16% in 2050. As a result, this factor is promoting the growth of the global market for asthma and COPD medications.

Browse In-depth Market Research Report (135 Pages) on Asthma and COPD Drugs: https://www.marketresearchfuture.com/reports/asthma-copd-drugs-market-8749

Market Restraints:

Over the forecast period, factors including strict government requirements for product approvals and pharmacological side effects are anticipated to restrain the market growth.

COVID-19 Analysis

A study by José Luis Izquierdo et al., published in the European Respiratory Journal in March 2021, found that asthmatic patients with COVID-19 had a lower prevalence of allergy-related conditions such as rhinitis and eczema. These comorbidities were seen in a high percentage of COVID-19 patients who needed hospital admission. Additionally, compared to patients who were not hospitalized owing to COVID-19, patients who needed to be hospitalized had a decreased utilization of inhaled corticosteroids (ICS) (48.3% versus 61.5%). Even while patients receiving biologics had more comorbidities and severer ear, nose, and throat conditions, these patients had comparatively few (0.23%) COVID-19-related hospitalizations. Thus, due to comorbidity-related characteristics, patients with asthma and COVID-19 were older and at higher risk.

Even after adjusting for age and smoking, COPD still carried an odds ratio of 2.681 for ICU hospitalization, mechanical ventilation, or mortality in 1,590 COVID-19 patients across China. Approximately 25% of those who died were COPD patients (compared to only 2.8% of those who lived), and approximately 62.5% of severe cases had a history of COPD (compared to only 15.3% of non-severe cases). Simply put, the market for COPD and asthma drugs was significantly impacted by the COVID-19 epidemic.

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Asthma and COPD Drugs Market Segmentation

By Disease

The market, depending on the disease, can be bifurcated into asthma as well as COPD.

By Product

The market for asthma and COPD pharmaceuticals has been divided based on product into short-term asthma relief medications and long-term asthma control medications. Long-acting beta-agonists, combination medicines, anticholinergics, inhaled corticosteroids, theophylline, and other treatments are further divided into long-term asthma control therapies. Seretide/Advair, Symbicort, Relvar/Breo Ellipta, Flutiform, Dulera, and Others are other categories for the combo medications. Anticholinergics are further divided into Spiriva and other types of drugs. Pulmicort, Flovent, Qvar, and other inhaled corticosteroids are further divided into this category.

By Quick-Relief Drugs

The quick-relief drugs have been further divided into ipratropium bromide (Atrovent), oral & intravenous corticosteroids, short-acting beta-agonists, and others. Proair and Ventolin have been created as further subcategories of short-acting beta-agonists.

By Route of Administration

Based on the route of administration, the market for COPD and asthma drugs market has been divided into oral, inhaled, and other types.

By Distribution Channel

The global market for asthma and COPD drugs has been segregated into retail pharmacies, hospital pharmacies, and online pharmacies.

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Asthma and COPD Drugs Market Regional Insights

The global asthma and COPD medicine market is projected to be dominated by the Americas. Asthma and COPD patients are becoming more prevalent in the area, which can be ascribed to this. In 2016, 8.3% of children in the US were diagnosed with asthma, according to the American Academy of Allergy, Asthma & Immunology. Additionally, it is anticipated that the market would expand due to increased health expenditures per person and rising desire for cutting-edge treatment choices.

Throughout the study period, the second-largest market for asthma and COPD medications is anticipated to be in Europe. It’s anticipated that increased awareness of COPD and asthma in Europe would boost regional market expansion.

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