PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363790
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363790
Global Asthma and COPD Drugs Market is valued at approximately USD 36.12 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.64% over the forecast period 2023-2030. Asthma and COPD drugs are medications used to manage and treat respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). Both asthma and COPD are chronic respiratory diseases characterized by inflammation and narrowing of the airways, leading to symptoms such as wheezing, shortness of breath, coughing, and chest tightness. The Asthma and COPD Drugs Market is expanding because of factors such as the growing trend of personalized therapy, changing lifestyle patterns, and increasing government support, coupled with better access to healthcare services.
In addition, the increasing prevalence of asthma and COPD is acting as a catalyzing factor for market growth across the globe. Asthma and COPD are chronic respiratory diseases with a significant global burden. According to the World Health Organization (WHO), respiratory disease infection is considered the third major cause of death with approximately 3 million death per year (6% of global deaths), in which nearly 90% of COPD fatalities occur in those 70-year-old people from the low-and middle-income countries. Also, there are around 262 million patients estimated to suffer from asthma, which commonly affects children. Thus, the increasing prevalence of these conditions, driven by factors such as air pollution, smoking, aging populations, and changing lifestyles, contributes to the growing demand for effective medications to manage and treat asthma and COPD, which, in turn, propelling the growth of the Asthma and COPD Drugs Market during the estimated period. Moreover, the technological advancements in drug development, as well as the increasing awareness about asthma and COPD, along with improved diagnostic techniques present various lucrative opportunities over the forecast years. However, the side effects associated with drugs and stringent government regulations for product approvals are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Asthma and COPD Drugs Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing research and development activities, along with the rise in the number of fundings undertaken by government and non-government organizations. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rising healthcare expenditure, favorable reimbursement policies, increasing aging population, as well as favorable reimbursement policies are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable