The global “chronic obstructive pulmonary disease” drug market size is forecast to progress remarkably on account of the increasing number of cigarette smokers worldwide. Chronic obstructive pulmonary disease drugs are medications used for ailing people suffering from diseases that are caused by poor airflow and characterized by long-term breathing problems. More information on the market is provided in a recently published report by Fortune Business Insights™ titled, “Chronic Obstructive Pulmonary Disease Drugs Market Size, Share and Global Trend By Drug Class (Bronchodilators, Steroids, Combination drugs), By Distribution Channel (Hospital Pharmacy, Retail pharmacy, Online pharmacy), and Geography Forecast till 2026.”
What is the objective of the Report?
- 360-degree overview of the chronic obstructive pulmonary disease drugs market
- Factors driving, restricting, challenging, and creating opportunities for the market
- Major industry Developments, SWOT analysis, and other interesting insights
- Current chronic obstructive pulmonary disease drugs market trends
- List of segments in the market with leading segments and their attributed factors
- Competitive landscape, major players in the market and their key strategies
Increasing Prevalence of Respiratory Disorders will Boost Market
The primary factor promoting chronic obstructive pulmonary disease drug market growth is the rise in air pollution levels as a result of the increasing number of automobile production every year. Besides this, the adoption of a modern lifestyle with smoking habits is leading to the rise in respiratory disorder cases, thereby boosting the market. Moreover, an increase in the geriatric population and an increasing number of asthma patients are likely to provide impetus to the market. Furthermore, a lead analyst at Fortune Business Insights™ says, “The growing government initiatives to spread awareness about COPD, coupled with the advent of generic drugs introduced by emerging nations such as India and China, is likely to aid in the expansion of the market in the forecast period.”
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Asia Pacific and the Middle East and Africa to Offer Lucrative Growth Opportunities Owing to Rapid Industrialization
From a geographical perspective, North America is holding the dominant chronic obstructive pulmonary disease drugs market share owing to the rise in pollution levels, rapidly increasing industrialization, and the adoption of a sedentary lifestyle. Additionally, the increasing number of smoker population and lack of awareness about COPD are also anticipated to aid in expansion of the market in the coming years.
Other regions such as the Middle East and Africa and Asia Pacific are expected to provide lucrative growth opportunities to the COPD drug market on account of the increasing prevalence of respiratory diseases. According to the World Health Organization, more than 90% of the deaths caused by COPD are likely to occur in low and middle-income countries. Rapid pace of industrialization and urbanization results in rise in pollution levels and ultimately results in respiratory diseases such as COPD, thus attracting high chronic obstructive pulmonary disease drugs market revenue in the forecast period.
Increasing FDA Approvals to Give Tailwinds to the Market
As per the current scenario of chronic obstructive pulmonary disease drugs market, players are investing massive amounts into the research and development of novel therapeutics, thereby taking on the lions’ share in the market. Companies are putting efforts to develop new drugs for this disorder. This, along with the rising FDA approvals, will surge the chronic obstructive pulmonary disease drugs market revenue. in the years to come.
List of Players Operating in the Chronic Obstructive Pulmonary Disease Drugs Market include:
- AstraZeneca Pharmaceuticals LP
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- CHIESI Farmaceutici S.p.A.
- Mylan N.V., GlaxoSmithKline plc.
- GlaxoSmithKline plc.
- Boehringer Ingelheim Pharmaceuticals Inc.
- Orion Corporation
- Sunovion Pharmaceuticals, Inc
Noteworthy Industry Developments of the Chronic Obstructive Pulmonary Disease Drugs Market Include:
January 2019 – Bevespi Aerosphere, formoterol fumarate, also known as glycopyrronium received approval from the European Commission. The Bevespi Aerosphere is a product of AstraZeneca and is meant for adults diagnosed with COPD.
July 2018 – The advisory committee of the Food and Drug Administration voted against approving GSK’s mepolizumab (Nucala) as an additional treatment for COPD patients.
September 2017 – The U.S. Food and Drug Administration approved SPIRIVA RESPIMAT by Boehringer Ingelheim for bronchospasm treatment for long terms.