New York, USA, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Chronic Obstructive Pulmonary Disease Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Chronic Obstructive Pulmonary Disease Market Information by COPD Type, Treatment Type, End User and Region - Forecast till 2027", the market is expected to grow at CAGR of 4.5% to reach USD 25.7 Billion during the forecast period 2020-2027.
Chronic Obstructive Pulmonary Disease Market Scope:
The market for COPD is being propelled forward by the development and release of new products that take use of technological advancements. The growth is being fueled by the rising demand for pharmaceuticals designed specifically for the treatment of sick people. Studies evaluating their efficacy, which will make them safer for patients, are currently being conducted. Tobacco quitting is often the only treatment necessary for patients with mild COPD. Effective treatment is available for all stages of the disease, and it can alleviate symptoms, delay the disease's course, lessen the likelihood of complications and exacerbations, and increase the likelihood that the patient will be able to resume an active lifestyle.
The goal of treating chronic obstructive pulmonary disease (COPD) is to enable the patient to breathe easier and resume their previous level of activity. In addition, the patient may explore complementary and alternative medicine practices. Relief of symptoms, such as coughing, difficulty breathing, and the prevention of respiratory infections, is the primary goal of treatment for chronic obstructive pulmonary disease (COPD). COPD treatment plans typically take the disease's progression into account.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2027 | USD 25.7 Billion |
| CAGR | 4.5% |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By COPD Type, Treatment Type and End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising prevalence of chronic respiratory diseases |
| Increasing government and pharmaceutical investment in new drug development |
Chronic Obstructive Pulmonary Disease Market Competitive Dynamics:
The market players of the market are:
- Abbott Laboratories (US)
- Almirall (Spain)
- Astellas Pharma (Japan)
- AstraZeneca (UK)
- Boehringer Ingelheim (Germany)
- Circassia Pharmaceuticals (UK)
- GlaxoSmithKline (UK)
- Novartis AG (Switzerland)
- Pfizer, Inc. (US)
- Teva Pharmaceutical Industries Ltd (Israel)
Market USP:
Market Drivers
The rising incidence of COPD is one factor driving expansion in the COPD drug market. The growth of the chronic obstructive pulmonary disease (COPD) drug market is being fueled by the rising demand for medications to treat COPD symptoms such as shortness of breath, coughing, mucus production, and wheezing, as well as the convenience and ease of using these treatments and therapies in the comfort of one's own home. A better understanding of respiratory illnesses, their treatments, and the necessary precautions has an additional effect on the market for medications used to treat chronic obstructive pulmonary disease (COPD).
The value of the market for treatments for chronic obstructive pulmonary disease is boosted by the increased funding of R&D and drug production by governments and pharmaceutical corporations. Asthma and COPD are on the rise, and the senior population is also on the rise, thus these are three main factors pushing the industry forward.
The global market value for COPD is poised to increase significantly as a result of the government approving medicines and biosimilars. The CPOD market is booming thanks to improvements in healthcare infrastructure, shifting consumer preferences, and rising disposable income.
Market Limitations
The introduction of a new product is the industry's greatest challenge. Both the benefits and the drawbacks of chronic obstructive pulmonary disease present significant difficulties to the global industry. A growing obstacle for the CPOD industry is the growing need for therapeutic tools and equipment for use in the home.
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Chronic Obstructive Pulmonary Disease Market COVID-19 Insight:
The deterioration of COVID has emerged as a causal component in COPD. It started off in a smaller quantity and grew larger over time. As a result, hospitals were unable to get the respiratory illness equipment they needed. Patients with COVID and COPD were in the worst health possible. Patients with chronic obstructive pulmonary disease did not significantly improve as a result of the COVID scenario. In light of this circumstance, the general population was urged to remain indoors and go outside only if they needed to see a doctor. They were told to take safety measures while on the road, such as donning masks, gloves, and hats.
The market for chronic obstructive pulmonary disease has already been impacted, and its negative effects will only worsen as the forecast period progresses. As evidenced by research into the pulmonary fibrosis market, demand and consumer habits have shifted in recent years, which has impacted production. The government proposes a number of policies and legislation meant to control the spread of the COVID. To combat COVID, the government has enacted stringent measures.
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Chronic Obstructive Pulmonary Disease Market Segmentation:
By COPD type
Emphysema segment is expected to garner a higher market value over the review period.
By Treatment Type
The anti-inflammatory drugs segment is expected to witness expansion at a notable CAGR over the review period.
By End-user
Hospitals and clinics are dominant and cover a large part of the chronic obstructive pulmonary disease market share.
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Chronic Obstructive Pulmonary Disease Market Regional Analysis:
The first dominant region, encompassing a vast amount of market share, is predicted to be North America. Due to rising levels of air pollution, the quick rate of industrialisation, and the rise of the sedentary lifestyle, North America has the largest chronic obstructive pulmonary disease (COPD) market share by revenue, followed by Europe. A rise in smokers and a general lack of education about COPD are also projected to drive up the disease's prevalence and, in turn, demand for COPD medications.
Due to its high population density, Asia-Pacific is poised to become the next major market. Countries like Indonesia, the Philippines, China, and even parts of Thailand and India are included in the Asia-Pacific area. There are promising growth prospects for the COPD medications market in places where rapid urbanization has led to an increase in air pollution, which in turn increases the likelihood of developing respiratory disorders like COPD.
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