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The chronic obstructive pulmonary disease drugs market is estimated to grow at a CAGR of 6.09% between 2022 and 2027. The chronic obstructive pulmonary disease drugs market size is forecast to increase by USD 6,654.49 million. The growth of the market depends on several factors, including the rising prevalence of COPD, the strong pipeline and new drug approvals, and the growing demand for fixed-dose combinations.
This market report extensively covers market segmentation by product (combination therapy and monotherapy), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising prevalence of COPD is notably driving the market growth, although factors such as the high cost of conducting clinical trials in COPD may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of COPD is accelerating the growth of the chronic obstructive pulmonary disease drug market globally. COPD is a chronic non-communicable lifestyle-related disease that progresses steadily without medical intervention. There are several lifestyle-related factors, such as smoking, exposure to biomass fuel, and air pollution, which increase the risk of developing COPD. Because of the significant prevalence of these factors in the environment worldwide, COPD has become a leading cause of mortality and morbidity globally. As per Natalie Terzikhan et al., COPD is considered the third-leading cause of death worldwide. Smoking is considered the leading cause of COPD, especially in developed countries where cigarette smoking is widespread.
Tobacco smoke from pipes, cigars, and cigarettes is an irritant that affects the bronchi and the alveoli of the lungs, leading to COPD. The symptoms of COPD usually appear after 40 years of age. Hence, the growth of the global geriatric population will further increase the number of people with a risk for COPD. Likewise, rare genetic conditions such as alpha-1 antitrypsin deficiency predispose people to an increased risk for COPD. Since alpha-1 antitrypsin is a protein that helps to protect the lungs from damage caused by inflammation, people who do not have this protein are more susceptible to COPD.
Expanding research in curative approaches is the key market trend driving global chronic obstructive pulmonary disease drug market growth. Considerable research is underway to find the ideal treatment for COPD. Researchers identify molecular targets that drive COPD disease progression. The identification of molecular targets is necessary for the development of new biological therapies, such as monoclonal antibodies, which can target physiological proteins responsible for disease progression.
Although some monoclonal antibodies failed to comply with the regulatory guidelines initially, there are other similar products in the pipeline for COPD. Similarly, some dual and triple-fixed-dose combination drugs are also in the late stages of development, owing to the multiple therapeutic benefits they provide. Apart from fixed-dose combination drugs that have entered the market or are in the registration phase, there are novel small molecular approaches that hold promising potential for the treatment of COPD.
The high cost of COPD clinical trials is a major challenge hindering the growth of the global chronic obstructive pulmonary disease drug market. The high cost of clinical trials for respiratory diseases is a major challenge for the global COPD drug market. The incidence of COPD has increased rapidly in recent years. According to ClinicalTrials.gov, there are few ongoing clinical trials for respiratory diseases. About 39 studies have been done on COPD. The costs associated with each stage of a clinical trial limit the number of studies that can be conducted in clinical trials.
Approximately $115.3 million is spent for each phase of a clinical trial, which includes Phases I, II, III, and IV. Respiratory system studies ranked third in terms of cost spent per study in clinical trials. Therefore, the high cost of conducting clinical trials in respiratory disorders will negatively impact the growth of the global COPD drugs market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Chronic Obstructive Pulmonary Disease Drugs Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AstraZeneca - The company offers chronic obstructive pulmonary disease drugs such as Pulmicort Turbuhaler. Also, the company engages in the discovery, development, manufacturing, marketing, and sale of pharmaceutical products.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the combination therapy segment will be significant during the forecast period. Combination therapy involves the use of two or more therapeutic agents for the treatment of a disease. Most of the leading manufacturers in the market have developed a single-dose form by combining 2-3 different types of drug classes for the effective treatment of COPD. Moreover, combination therapy drugs are novel in the sense that they have multiple pharmacologic effects on the body. During the last decade, various high-efficacy combinations of novel bronchodilators have been approved for the treatment of COPD. Such factors will increase segment growth during the forecast period.
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The combination therapy segment was valued at USD 10,786.42 million in 2017 and continued to grow by 2021. The pipeline for COPD drugs is flooded with combination therapy drugs, most of which are in the registration and pre-registration phases of development. For instance, in December 2020, AstraZeneca's Trixeo Aerosphere (formoterol fumarate/glycopyrronium bromide/budesonide) was approved in the European Union (EU) for maintenance treatment in adult patients with moderate-to-severe COPD who are not adequately treated by a combination of an inhaled corticosteroid (ICS) and a long-acting beta2-agonist (LABA). This is the fourth major approval for AstraZeneca's triple-combination therapy, which is marketed as Breztri Aerosphere in the US, China, and Japan. Thus, late-stage pipeline molecules and recent product approval will contribute to the growth of the segment during the forecast period.
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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Market growth in North America can be attributed to three major drivers, namely, the growing incidence of COPD, the availability of reimbursement schemes, and approvals for new triple combination drugs for the treatment of COPD. The rising incidence of COPD is a major driving factor for the COPD drug market in North America. As per the National Institutes of Health (NIH), COPD is one of the leading causes of death in the US, and in 2020, it affected 16 million people in the US. Risk factors for COPD, such as smoking and air pollutants, have also been increasing drastically over the past three decades. These factors will facilitate market growth during the forecast period.
The outbreak of COVID-19 negatively affected all countries in North America in 2020, especially the US. It also had a negative impact on the regional COPD drugs market. However, following the widespread COVID-19 vaccination drives, lockdown restrictions in various countries were somewhat relaxed by the second quarter of 2021, which led to the resumption of business activities and manufacturing units. Thus, such factors are expected to boost the growth of the COPD drugs market in North America during the forecast period.
Technavio categorizes the global chronic obstructive pulmonary disease (COPD) drugs market as a part of the pharmaceuticals market within the overall healthcare industry. The parent pharmaceuticals market covers products and companies engaged in R&D or the production of generic drugs, non-generic drugs, and veterinary drugs. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The chronic obstructive pulmonary disease drugs market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product (Combination therapy and Monotherapy), Distribution Channel (Hospital pharmacies, Retail pharmacies, and Online pharmacies), and Geography (North America, Europe, Asia, and Rest of World (ROW)).
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Chronic Obstructive Pulmonary Disease Drugs Market Scope |
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Report Coverage |
Details |
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Page number |
162 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.09% |
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Market growth 2023-2027 |
USD 6,654.49 million |
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Market structure |
Concentrated |
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YoY growth 2022-2023(%) |
5.19 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 50% |
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Key countries |
US, Canada, UK, Germany, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AstraZeneca Plc, Exela Pharma Sciences LLC, GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Innoviva Inc., Lupin Ltd., Merck and Co. Inc., Mundipharma International Ltd., Novartis AG, Theravance Biopharma Inc., Vertex Pharmaceuticals Inc., Viatris Inc., Boehringer Ingelheim International GmbH, Cadila Pharmaceuticals Ltd., CHIESI Farmaceutici SpA, Cipla Ltd., Philip Morris International Inc., Shionogi and Co. Ltd., Sumitomo Pharma Co. Ltd., and Teva Pharmaceutical Industries Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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