COPD Therapeutics Market Trends

Growth Drivers

• Increasing Consumption Of Tobacco via Smoking around the World- The World Health Organization reports that,   Approximately 7 million deaths are caused by direct usage of tobacco. Around 1.3 billion people use tobacco worldwide, with over 80% living in low- and middle-income countries. Nearly 22.3% of the global population, 36.7% of men, and 7.8% of women smoked tobacco in 2020. Consumption of tobacco causes various respiratory diseases. Smoking has become increasingly popular among adults throughout the world. As a result of cigarette smoke, the lungs ability to fight infections is impaired, the airways narrow and the air sacs swell. These factors contribute to the development of COPD. Thus, increasing users of tobacco smokers are expected to drive global COPD therapeutics market during the forecast period. 

• Awareness-Raising Initiatives About COPD- For instance, GOLD is a non-profit organization that raises awareness about COPD. Every 3rd Wednesday of November, GOLD organizes World COPD Day, in collaboration with healthcare professionals worldwide.

• Rising Spending On Healthcare In The World - As reported by the World Bank, current healthcare expenditures reached 9.83% of GDP in 2019 from 9.7% in 2018. Data includes the annual consumption of healthcare goods and services. In emerging economies, COPD treatments are becoming more popular owing to rising healthcare expenditures. The increase in awareness contributed to early diagnosis of COPD, which has improved treatment options. This factor is expected to drive market growth during the forecast period.

• Escalating Number of Elderly People Around the World- A recent report from the World Bank shows that there were 747,238,580 geriatric people in the world at the end of 2021 and people above 60 years are expected to grow in coming years.  

• Growing Incidences of Emphysema Worldwide - As reported by the National Center for Biotechnology Information, there are approximately 14 million people living with emphysema in the United States, including 14% of white male smokers and 3% of white male nonsmokers.

Challenges

• Health Complications Associated With Respiratory Drugs
• Strict Government Approval Process For COPD Treatment
• Challenges Faced by the Development of New Respiratory Medicines

The global COPD therapeutics market is segmented and analyzed for demand and supply by age group into below 5 years, 5-14 years, 15-60 years, and above 60 years. Among these segments, the 15-60 years segment is anticipated to capture the largest market size in the global COPD therapeutics market owing to the growing prevalence of asthma and COPD among this age group. As per the data by the Centers for Disease Control and Prevention, a total of 21,030,479 (8.4%) adults aged over 18 years were diagnosed with asthma in the United States in 2020, which was a significant increase over the previous year. Moreover, almost ~2 million adults aged over 18 years had emphysema in 2018, a common COPD condition in the United States.  Thus, the rising prevalence of COPD conditions among adults is anticipated to drive segment growth during the forecast period.