Chronic Obstructive Pulmonary Disease (COPD) Market

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by Rahulp4444

by Rahulp4444

The Global Chronic Obstructive Pulmonary Disease (COPD) Industry is on the brink of significant growth, with a projected value of US$ 21.58 billion in 2023. A comprehensive study by Future Market Insights Inc. foresees a remarkable surge in demand, fueled by the escalating prevalence of alcohol use worldwide. The market is anticipated to experience a steady compound annual growth rate (CAGR) of 4.4% between 2023 and 2033, ultimately reaching an estimated valuation of US$ 33.19 billion by 2033.

The findings of the study underscore the critical impact of evolving lifestyle patterns, with alcohol consumption emerging as a key contributor to the escalating demand for Chronic Obstructive Pulmonary Disorder (COPD) treatments. The research indicates that the rising prevalence of COPD, exacerbated by increased alcohol use, is a primary driver behind the anticipated market expansion over the next decade.

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Additionally, the World Health Organization (WHO) states that the most common cause of COPD is exposure to tobacco smoke both via first-hand as well as second-hand smoking. This global increase in the prevalence of COPD is a major factor fueling the growth of the COPD market in the forthcoming years. In addition, the rise in consumption of tobacco among millennials, coupled with the rise in the awareness among the population, regarding the use of generic drugs are projected to contribute to the revenue share of the chronic obstructive pulmonary disease market shortly.

According to the Centers for Disease Control and Prevention (CDCP), the cost related to COPD in the US was 32.1 $ billion in 2010 and rose to 49 billion by 2020. Hence, the continual growth witnessed in the cases of COPD among the population worldwide is a major factor that will intensify the growth of the COPD market over the forecast period.

Key Takeaways from the Global Chronic Obstructive Pulmonary Disease (COPD) Industry Study

The global Chronic Obstructive Pulmonary Disease (COPD) Market was valued at US$ 20.67 Billion by 2022-endFrom 2018 to 2022, the market demand expanded at a CAGR of 2.4%By Type, the Chronic Bronchitis segment of the market constitutes the bulk of the market with a market share of 43%By Distribution Channel, the Retail Pharmacies segment dominates the market with a share of 42%From 2023 to 2033, Chronic Obstructive Pulmonary Disease (COPD) sales are expected to flourish at a CAGR of 4.4%.By 2033, the market value of Chronic Obstructive Pulmonary Disease (COPD) is expected to reach US$ 33.19 Billion.

The continual increase in cases of COPD globally, coupled with rising cases of tobacco consumers are the major factors escalating the growth of the Chronic Obstructive Pulmonary Disease (COPD) market shortly, remarks an FMI analyst.

Global Chronic Obstructive Pulmonary Disease (COPD) Industry Competitive Landscape

Prominent players in the Chronic Obstructive Pulmonary Disease (COPD) market are Almirall, AstraZeneca, Boehringer Ingelheim International GmbH, CHIESI Farmaceutici S.p.A., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc., Kyowa Hakko Kirin, Mylan N.V., Novartis AG, Orion Corporation, Sanofi, Sunovion Pharmaceuticals, Inc. (Sumitomo Dainippon Pharma Co., Ltd.), Teva Pharmaceutical Industries Ltd., Theravance Biopharma, and Verona Pharmaceuticals, among others.

Recent Developments In the Global Chronic Obstructive Pulmonary Disease (COPD) Industry:

In June 2022, Verona Pharma, a pharmaceutical company, announced the completion of the patient enrolment, with more than 800 subjects involved in its randomized ENHANCE-1 trial. The study will evaluate ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease. It is a critical step for the phase III ENHANCE trial with top-line data expected by the end of the year 2022 and further data from ENHANCE-2 in the third quarter of 2022.In May 2022, Alembic Pharmaceuticals Ltd, a pharmaceutical company, received final approval from the US health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the U.S. Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for the strength of 15 mcg (base)/2 mL unit-dose vial.

Know More About What the Global Chronic Obstructive Pulmonary Disease (COPD) Industry Report Covers

Future Market Insights offers an unbiased analysis of the global Chronic Obstructive Pulmonary Disease (COPD) Market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033. To understand opportunities in the Chronic Obstructive Pulmonary Disease (COPD) Market, the market is segmented based on drug class, type, and distribution channel, across five major regions.

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Key Segments Covered in the Global Chronic Obstructive Pulmonary Disease (COPD) Industry Analysis

Global Chronic Obstructive Pulmonary Disease (COPD) Industry by Drug Class:

Combination TherapyBronchodilatorsCorticosteroidsPhosphodiesterase Type 4 InhibitorMucokineticsOthers

Global Chronic Obstructive Pulmonary Disease (COPD) Industry by Type:

Chronic BronchitisEmphysema

Global Chronic Obstructive Pulmonary Disease (COPD) Industry by Distribution Channel:

Hospital PharmaciesRetail PharmaciesOnline Pharmacies

Global Chronic Obstructive Pulmonary Disease (COPD) Industry by Region:

North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa