New York, United States, March 22, 2023 (GLOBE NEWSWIRE) -- The Global Chronic Obstructive Pulmonary Disease Market Size to grow from USD 18.20 billion in 2021 to USD 35.90 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period. Due to the rise in the cases of COPD among population across the globe is amongst the important factor expected to intensify the growth and demand of chronic obstructive pulmonary disease market. In addition, the rise in consumption of tobacco among youth population and increase in the awareness among population about the use of generic drug are also expected contributes to the growth in the global market over the forecast period. The increasing prevalence of chronic respiratory diseases, rising health awareness among people about the same, and growing demand for home care therapeutics devices are driving the growth of the global chronic obstructive pulmonary disease market significantly.
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Asthma is a chronic, inflammatory lung condition affecting the airways that is not contagious. Recurrent episodes of wheezing, dyspnea, chest tightness, and cough are brought on by the hyperresponsiveness of the airways. When compared to other obstructive lung illnesses, asthma is fairly treatable. The biggest risk factor for asthma is allergies. Asthma can also be brought on by irritations, exertion, blocks, cold air, animals, and dust. Airflow restriction is a feature of the chronic obstructive pulmonary disease (COPD), which is not entirely curable. Emphysema, a complicated lung illness marked by destruction of the alveoli, and chronic bronchitis, a persistent inflammation of the lower respiratory tract, are both included in COPD. The primary cause of COPD is tobacco usage. Physical examinations and other tests, including X-rays, sputum eosinophil counts, and nitric oxide tests, can be used to identify asthma and COPD. Leukotriene modifiers, theophylline, and inhaled corticosteroids are all effective treatments for COPD and asthma. Nevertheless, short-acting beta agonists and anticholinergic medications can control acute respiratory attack. The rise in COPD instances among the world's population is one of the major factors projected to boost the growth and demand of the chronic obstructive pulmonary disease market. Also, it is projected that throughout the forecast period, increased youth cigarette smoking and expanding public awareness of the advantages of utilising generic pharmaceuticals would both contribute to the growth of the global market. Moreover, growing healthcare costs and rising public awareness in underdeveloped and developing countries are anticipated to promote market growth. The availability of facilities for the treatment of chronic obstructive pulmonary disease in poor countries is one of these issues. Although a danger to the market's growth can come from a lack of public understanding of the signs and symptoms of COPD, the market's growth is expected to be constrained by stringent government regulations and the high cost of treating chronic obstructive pulmonary disease.
Market Trends
A significant global health issue, chronic obstructive pulmonary disease (COPD) affects a lot of individuals. The need for COPD management is growing as the disease burden grows. Smoking tobacco may increase the risk of COPD. Adult smoker addiction has been on the rise all around the world. Workplace pollution and indoor air pollution are additional risk factors. Exposure to tobacco smoke is the main cause of COPD, according to the World Health Organization (WHO). The organisation estimates that 3.23 million deaths will be caused by chronic obstructive pulmonary disease (COPD), making it the third greatest cause of death worldwide. Almost 90% of COPD fatalities in people under 70 years of age take place in low- and middle-income nations (LMIC).
Browse key industry insights spread across 210 pages with 122 market data tables and figures & charts from the report the “Global Chronic Obstructive Pulmonary Disease Market Size, Share, and COVID-19 Impact Analysis, By COPD Type (Chronic Bronchitis, Emphysema), By Treatment-Type (Drugs, Oxygen Therapy), By End-User (Hospitals, Clinics), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 " Get Detailed Report Description Here:
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The Chronic Bronchitis segment is dominating the market with largest market share over the forecast period.
On the basis of COPD Type, the global chronic obstructive pulmonary disease market is segmented into Chronic Bronchitis and Emphysema. Among these, the chronic bronchitis segment is dominating the market with largest market share over the forecast period. Globally, the incidence and prevalence of chronic bronchitis are increasing as a result of rising cigarette use, greater industrialization, and the release of hazardous chemicals into the environment. These factors have an impact on the increase in chronic bronchitis instances, which is driving the growth of this market.
The Drugs segment accounted the highest market share over the forecast period.
Based on the treatment type, the global chronic obstructive pulmonary disease market is segmented into Drugs, Oxygen Therapy, Surgery, and Others. Among these, the drugs segment accounted the highest market share over the forecast period. The increased use of medications as the first line of treatment for COPD to relieve breathing by opening up airways has further propelled the market expansion of this category.
The Hospitals segment is dominating the market with the largest market share over the forecast period.
On the basis of end user, the global chronic obstructive pulmonary disease market is segmented into Hospitals, Clinics, Homecare Settings, and Others. Among these, the hospitals segment is dominating the market with the largest market share over the forecast period because the prevalence of many chronic respiratory diseases and lifestyle disorders is increasing, as is public awareness of these illnesses. Also, the availability of various diagnostic and treatment facilities, higher purchasing power, and the presence of highly skilled healthcare professionals are encouraging the growth of the hospital segment of the worldwide chronic obstructive pulmonary disease market.
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North America is dominating the market with the largest market share over the forecast period.
In the global market for chronic obstructive pulmonary disease in 2020, North America held the largest revenue share, and it is projected that it would maintain this position during the forecast period. The growth in revenue in the North American market is mostly attributable to the increasing investment in R&D activities for the development of novel drugs for the treatment of various chronic respiratory diseases as well as lifestyle problems. A number of significant factors, such as a growth in the incidence and prevalence of chronic respiratory problems, technological breakthroughs, growing healthcare sectors, and a significant presence of top market competitors, are also helping to raise the COPD Market in the region.
The market in the Asia Pacific is anticipated to grow at a significant rate during the forecast period due to an increase in the prevalence of various chronic respiratory diseases as well as lifestyle diseases, an increase in industrialization, changes in lifestyle, and an increase in the number of patients suffering from COPD in developing countries like China and India.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global chronic obstructive pulmonary disease Market include AstraZeneca, Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Novartis AG, CHIESI Farmaceutici SpA, Sunovion Pharmaceuticals Inc, Teva Pharmaceutical Industries Ltd, Mylan N.V., Orion Corporation, Merck & Co., Inc, Grifols, S.A., Abbott, F. Hoffmann-La Roche Ltd, Vectura Group plc, Pfizer Inc, Alkermes, Mylan N.V, Almirall, S.A, Genentech, Inc, Biogen, and Astellas Pharma Inc.
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