The global astma and COPD market is expected to witness significant growth over the forecast period. Increasing prevalence of respiratory diseases owing to the growing aging population and increasing pathogens in the environment has been the key factor driving asthma and chronic obstructive pulmonary disease (COPD) market globally. Asthma & COPD are chronic respiratory diseases that are either genetically acquired or caused due to several environmental factors. These diseases are supposed to be non-curable but may be controlled to a great extent with a proper on-time diagnosis. The global market for Asthma & COPD has been analyzed on the basis of drugs and devices used for these diseases. Key drugs employed for control and diagnosis of asthma and COPD may be classified on the basis of their types which include bronchodilators, leukotriene antagonists, mast cell stabilizers, and immunosuppressants.
The global astma and COPD drug market is a multi-billion dollar market that has a history of several decades and has witnessed a number of technological advancements and product development over the past few years. Growing aging population coupled with increasing automotive and industrial exhaust gases have remained the key drivers for global asthma and the COPD market. Degrading air quality near the industrial areas has led to the increased incidence of asthma especially in the low-income population in the emerging economies of China, India, Brazil, and Russia. Increasing disposable income levels in emerging economies as well as developing countries of Latin America, Middle East & Africa has led to the increased usage of asthma pumps and sprays in these regions. However, the unknown etiology of asthma and COPD in the medical industry may hamper the market growth in the next six years. Upcoming treatment methodologies such as once-a-day combination products and monoclonal antibodies have created new opportunities for market growth. Additionally, pharmaceutical companies have been developing new bio-based medications in combination with biotechnology which promises immense growth opportunities along with sustainable development for asthma & COPD market over the next decade.
Currently, North America leads the global market for asthma & COPD drugs and devices. North America was followed by Europe in terms of market capitalization. However, North America and Europe are expected to lose out some of the market share to other emerging regional markets owing to the expiry of several patens of pharmaceutical companies operating in these regions. Asia Pacific is expected to be the fastest regional market for asthma and COPD owing to the increased incidence of asthma & other respiratory diseases in industrial regions. The top few players in this market include AstraZeneca, GlaxoSmithKline, F. Hoffmann-La Roche, Novartis, and Merck. Other significant companies operating in the global asthma & COPD market include Abbott, Amgen, Actavis, AptarGroup, Aurobindo, Boehringer Ingelheim, Cipla, Dr. Reddy’s Laboratories, Glenmark, Mylan, Pfizer, Ranbaxy, Sunovion and Vectura.
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The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.