Asthma and COPD Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1950
Asthma and COPD Market is set to experience significant inclination from 2021 to 2027 on account of the higher prevalence of respiratory diseases and the consistent growth of pathogens in the environment. According to a World Health Organization (WHO) report, chronic obstructive pulmonary disease (COPD) was the third leading cause of death across the world in 2019. It was also reported that asthma resulted in more than 461000 deaths and affected close to 262 million people in the same year. In addition, the rising incidences of asthma among children is expected to sway the industry penetration.
The rise in the number of smokers, technological advancements, and the proliferating geriatric population are other factors driving market expansion. The United Nation (UN) has suggested that the number of older individuals over 60 years of age worldwide, is poised to rise from 901 million to over 1.4 billion during the timeframe 2015-2030.
Chronic obstructive pulmonary diseases and asthma conditions are chronic respiratory conditions that are non-curable but can be controlled with proper diagnosis and care. Asthma can be described as a major noncommunicable disease (NCD), that causes the inflammation and narrowing of small airways in the lungs, leading to shortness of breath, cough, wheeze, and chest tightness.
The anti-inflammatory drugs segment in asthma and COPD market comprises corticosteroids, anti-leukotrienes, and monoclonal antibodies. Among these, the demand for inhaled corticosteroids will rise driven by benefits like high topical force to decrease inflammation in low and lung systemic motion.
Based on inhalers, the market is segmented into metered-dose inhalers (MDIs), soft mist inhalers (SMIs), and drug powder inhalers (DPIs). The COVID-19 pandemic has potentially increased the demand for inhalers with the surge in product approvals by various international regulatory agencies.
In terms of regional landscape, North America, with the U.S. as a major contributor, led by extensive adoption of inhalers and nebulizers. The presence of a large pool of patients diagnosed with respiratory diseases, technological advancements, and escalating disease prevalence are also remarkably fueling the market growth in the region.
However, the high cost and longer time duration of asthma treatment are anticipated to hinder the expansion of the market to some extent.
Market players include F. Hoffmann-La Roche, Cipla, GlaxoSmithKline (Hindustan Unilever Ltd), Vectura, Boehringer Ingelheim (Boehringer Ingelheim Auslandsbeteiligungs GmbH), Sunovion (Sumitomo Dainippon Pharma), AstraZeneca, Pfizer, Merck, Nycomed (Takeda Pharmaceutical Company, Credit Suisse First Boston), Mylan, Ranbaxy (Sun Pharmaceutical Industries Ltd.), Actavis (Teva Pharmaceuticals), AptarGroup, Aurobindo (Novartis), Amgen, Dr. Reddy’s Laboratories and Abbott.
These healthcare entities are turning to various targeted business strategies, such as acquisitions, partnerships, apart from bringing innovations in their offerings to reinforce their market footprint.
For instance, in July 2020, Novartis joined hands with Propeller Health, a respiratory health company and a ResMed subsidiary, to co-package the latter’s digital health platform with the help of the pharma frontrunner’s Enerzair Breezhaler, a new asthma medication.
Likewise, Glenmark Pharmaceuticals, in May 2020, unveiled AIRZ-FF, a single inhaler triple therapy. The novelty combines two bronchodilators, Glycopyrronium & Formoterol as well as the inhalation corticosteroid Fluticasone propionate, and is used in the treatment of COPDs.
Impact of COVID-19 on asthma and COPD market share
The varying degrees of the nationwide lockdowns and the abrupt shuttering of the manufacturing and other industrial facilities caused by the present COVID-19 outbreak tremendously disrupted the supply chains and created many roadblocks for the global economy. However, the alarming spike in the number of cases has added a positive impetus to the industry outlook as patients diagnosed with asthma and COPD are believed to be at an increased risk of dying from the virus.
Adverse effects, including limited physical activity, social isolation, as well as higher anxiety among the affected individuals are also influencing the rise in the mortality rate. Additionally, numerous organizations are placing efforts on offering guidelines pertaining to the management of asthma and COPD during the pandemic.
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