The Chronic Obstructive Pulmonary Disease (COPD) Market Is Projected to Register CAGR of 4.2% by 2025
Increasing Geriatric Population Drives the Growth of Global Chronic Obstructive Pulmonary Disease (COPD) Market
Rising Prevalence of Chronic Obstructive Pulmonary Disease (COPD) Fuels the Growth of Global Chronic Obstructive Pulmonary Disease (COPD) Market
Chronic obstructive pulmonary disease (COPD) is a chronic inflammatory pulmonary disease that causes obstructed airflow from the lungs. Its symptoms include breathing difficulties, coughing, mucus production, and wheezing. People with COPD are at increased risk of developing heart disease, lung cancer, and several other health conditions.
The Chronic Obstructive Pulmonary Disease Market Size is expected to show substantial growth over the forecast period. As per Market Research Future (MRFR) analysis, the market for chronic obstructive pulmonary disease (COPD) was valued at approximately USD 10.7 billion in 2018 and is projected to register 4.2% of CAGR by 2025.
Market Dynamics
The key factor driving the growth of the global market for chronic obstructive pulmonary disease (COPD) market is the growing prevalence of the chronic obstructive pulmonary disease worldwide, which is expected to fuel demand for chronic obstructive pulmonary disease (COPD) drugs. For example, AS per WHO, Global Burden of Disease Study estimates a global prevalence of 251 million cases of COPD in 2016. It is estimated that COPD will become the world's third leading cause of death by 2030. Additionally, the rising geriatric population and increasing customer understanding of the new and innovative treatment options also complement market growth. Through research and development in this field to develop more innovative COPD treatment solutions may also give numerous opportunities for more market growth. However, restrictive government regulations are expected to impede business growth.
Segmentation
The global market for chronic obstructive pulmonary disease (COPD) is segmented into a type of COPD, type of treatment, end-user, and region.
The global demand for chronic obstructive pulmonary disease (COPD) was divided into emphysema and chronic bronchitis, based on type COPD.
The global market for chronic obstructive pulmonary disease (COPD) has been segmented into drugs, surgery, and oxygen therapy, by treatment. The drugs group is further segmented into the bronchodilator monotherapy and anti-inflammatory products. Bronchodilator monotherapy is further sub-segmented into short-acting beta2-agonists (SABAs), long-acting beta2-agonists (LABAs), and anticholinergic agents. The sub-segment of anti-inflammatory drugs is further known as oral & inhaled corticosteroids, and anti-leukotrienes. The surgery segment is sub-segmented into surgery for the reduction of lung volume (LVRS), lung transplantation, bullectomy, and others.
Based on end-users, the global demand for chronic obstructive pulmonary disease (COPD) has been segmented into hospitals and clinics, home care facilities, and others.
Regionally, the global chronic obstructive pulmonary disease (COPD) market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. North America is projected to capture a substantial share of the global market for chronic obstructive pulmonary disease (COPD) in the forecast period due to the highly advanced healthcare system and growing cases of chronic obstructive pulmonary disease (COPD) in the region. COPD, for example, is the leading cause of death in the United States, affecting 16 million Americans. Emphysema and chronic bronchitis are the two most severe forms of COPD. More than 8.9 million Americans Reliable Source were diagnosed with chronic bronchitis in 2016, and almost 75% of cases included people over the age of 45.
Europe is projected to be second-largest in the global market for chronic obstructive pulmonary disease (COPD) due to its well-developed market.
The Asia Pacific is projected to be the fastest-growing regional market due to the high number of patients suffering from COPD and the increasing prevalence of respiratory diseases.
The market for chronic obstructive pulmonary disease (COPD) in the Middle East and Africa is projected to rise gradually due to the growth of the healthcare infrastructure.
Key Players
Abbott Laboratories (US), Almirall (Spain), Astellas Pharma (Japan), AstraZeneca (UK), Boehringer Ingelheim (Germany), Circassia Pharmaceuticals (UK), GlaxoSmithKline (UK), Novartis AG (Switzerland), Pfizer, Inc. (US), and Teva Pharmaceutical Industries Ltd (Israel) are some of the key players operating in the global chronic obstructive pulmonary disease (COPD) market.
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