- Oxygen Therapy
Chronic Obstructive Pulmonary Disease (COPD) Market was valued at USD 21.2 billion in 2022 and is poised to grow at a CAGR of 4.8% over 2023-2029. Chronic obstructive pulmonary disease (COPD) is a type of progressive lung disease characterized by long-term respiratory symptoms and airflow limitation, including symptoms such as shortness of breath and a cough, and the causes include tobacco smoking, air pollution, and genetics. Based on the drug class, the combination therapy segment is anticipated to dominate the market share over the forecast period. According to the World Health Organization, COPD is the third leading cause of death worldwide, causing 3.23 million deaths in 2019. The increasing incidences of respiratory disorders and growing awareness will act as the chronic obstructive pulmonary disease market growth driver, whereas, the high cost of treatment would be the lagging factor for the market. The rise in chronic obstructive pulmonary disease market demand for novel drug therapies and an increase in investments by key market players are opportunities for the expansion of the market.
Fastest Growing Market
With an increase in the incidence of COPD, awareness programs, and adoption of effective treatments are also increasing, so the advancements in technologies for drug development are the major factors for the market growth. For instance, in Feb 2021, Sanofi, in collaboration with Regeneron Pharmaceuticals, initiated a phase-III clinical trial for Itepekimab, in moderate-to-severe COPD. Thus, the increased awareness, research, and development for chronic disorders will lead to the growth of the market within the forecast period. However, side effects and risks associated with COPD drugs could be a negative factor for the market growth.
The Chronic Obstructive Pulmonary Disease (COPD) market was valued at USD 21.2 billion in 2022 and is expected to grow at a 4.8% CAGR over the forecast period 2023 – 2029.
The rise in demand for novel drug therapies and an increase in investments are the key opportunities for the Chronic Obstructive Pulmonary Disease (COPD) market.
The increasing incidences of respiratory disorders and growing awareness are the growth drivers in the Chronic Obstructive Pulmonary Disease (COPD) market.
Boehringer Ingelheim International GmbH, GlaxoSmithKline plc., Novartis International AG, AstraZeneca, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Merck & Co., Amneal Pharmaceuticals LLC., Mylan N.V., and OptiNose US Inc. are a few companies operating in the Chronic Obstructive Pulmonary Disease (COPD) market.