Chronic Obstructive Pulmonary Disease Treatment Market is Projected to Be Valued at ~US$ 26.2 Billion in the Year 2027
Chronic Obstructive Pulmonary Disease Treatment Market: Introduction
Transparency Market Research has published a new report on the chronic obstructive pulmonary disease (COPD) treatment market. According to the report, the global chronic obstructive pulmonary disease treatment market was valued at ~US$ 17.4 Mn in 2018. The COPD treatment market is expected to expand at a CAGR of ~5% during the forecast period of 2019 to 2027.
Chronic obstructive pulmonary disease is a group of conditions affecting the lungs, which leads to difficulty in breathing. Chronic bronchitis and emphysema are two major indications included under chronic obstructive pulmonary disease (COPD). Breathlessness is a major characteristic of COPD. In case of emphysema, the alveoli (tiny air sacs) in the lungs are damaged. The walls of the alveoli are stretched, making the lungs bigger, resulting in difficulty in the movement of air. In chronic bronchitis, the bronchial airways (breathing tubes) inside the lungs are inflamed.
In terms of drug class, the combination therapy segment of the chronic obstructive pulmonary disease treatment market held a major share of the global COPD treatment market in 2018. It is likely to maintain its dominance in the chronic obstructive pulmonary disease treatment market during the forecast period, owing to its increased efficacy for COPD treatment. Based on distribution channel, the retail pharmacies segment of the COPD treatment market is estimated to account for a major share of the market. This segment of the chronic obstructive pulmonary disease treatment market is anticipated to expand at a rapid pace during the forecast period, owing to an increase in the number of COPD therapeutics being dispensed through retail pharmacies, and rise in the number of retail pharmacies in developing countries.
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Chronic obstructive pulmonary disease is characterized by progressive airflow limitation not fully reversible, and is a major cause of morbidity and mortality, worldwide. However, patent expiry of branded products and availability of generic equivalents and alternative treatment options are factors that are expected to hamper the growth of the global COPD treatment market during the forecast period.
Global Chronic Obstructive Pulmonary Disease Treatment Market: Prominent Regions
North America held a major share of the global chronic obstructive pulmonary disease treatment market. The COPD treatment market in the region is primarily driven by factors such as highly structured healthcare industry and availability of well-defined reimbursement policies from private and public health insurance firms. In addition, extensive research and development to provide advanced and efficient products, and a large number of players in the region, are factors driving the chronic obstructive pulmonary disease treatment market in North America. The chronic obstructive pulmonary disease market in Asia Pacific is estimated to witness significant growth. Asia Pacific is a relatively untapped COPD treatment market as compared to developed regions. Hence, the region offers immense growth opportunities to market players. Factors such as high prevalence of chronic obstructive pulmonary disease, rise in geriatric population, surge in patient population, and growth of the healthcare industry are fueling the expansion of the COPD treatment market in the region.
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Europe held the second-largest share of the global chronic obstructive pulmonary disease treatment market in 2018. Well-developed healthcare infrastructure and increase in the number of incidences of chronic obstructive pulmonary disease are driving the COPD treatment market in the region. The chronic obstructive pulmonary disease treatment markets in the Middle East & Africa and Latin America are projected to witness moderate growth in the near future.
Chronic Obstructive Pulmonary Disease Treatment Market: Key Players
Key players are expanding their footprint to strengthen their position in the global chronic obstructive pulmonary disease treatment market. Emerging economies, due to increase in the number of patient population, and rise in tobacco smoking and air population, offer lucrative opportunities to key players to increase their market share. Manufacturers are engaging in new product development, collaborations, acquisitions, and distribution agreements. For instance, in July 2018, Orion Corporation signed a multi-year licensing agreement with Menarini to distribute and commercialize the former’s Easyhaler products. According to the agreement, Menarini would be supplying Orion’s products in Asia Pacific countries such as China, the Philippines, Malaysia, Hong Kong, Indonesia, Vietnam, Thailand, Singapore, South Korea, and Taiwan.
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Prominent players operating in the global chronic obstructive pulmonary disease treatment market are AstraZeneca, Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Novartis AG, Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals Inc. (Sumitomo Dainippon Pharma Co., Ltd.), CHIESI Farmaceutici S.p.A., Orion Corporation, and Mylan N.V.
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