Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is Anticipated to Witness High Growth Owing to Increasing Tobacco Consumption
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Chronic Obstructive Pulmonary Disease (COPD) Treatment Market |
The
chronic obstructive pulmonary disease (COPD) treatment market consists of
therapeutic drugs and devices used to prevent, alleviate symptoms, and slow
down the progression of COPD. The disease is progressive and is characterized
by obstructed airflow from the lungs. Drugs for COPD mainly include
bronchodilators which help open narrowed airways and steroids which help reduce
swelling and irritation in the lungs. Devices used include inhalers,
nebulizers, and oxygen concentrators. COPD treatment is of great importance as
the condition is life threatening and there is no cure. Increasing tobacco
consumption rates, rising pollution levels, and growing geriatric population
are key factors driving demand for COPD therapeutics globally.
The Global
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is
estimated to be valued at US$ 20.86 Mn in 2024 and is expected to exhibit a
CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Chronic Obstructive Pulmonary Disease (COPD)
Treatment market are First Sensor AG, Bosch Sensortec GmbH, Honeywell
International Inc., Murata Manufacturing Co. Ltd., ROHM Co. Ltd., Amphenol
Corporation, InvenSense Inc. (TDK Corporation), Sensata Technologies Inc., NXP
Semiconductors NV (Freescale), Goertek Inc., TE Connectivity Ltd.,
STMicroelectronics NV, Infineon Technologies AG, Omron Corporation, and Alps
Alpine Co. Ltd. are primarily focused on expanding their product portfolios and
regional presence through mergers & acquisitions and partnerships.
The rising global COPD disease burden and improved access to diagnostic
technologies present significant growth opportunities. Pharmaceutical companies
are investing heavily in R&D to develop advanced inhaled therapies and
combination drug regimens to manage the disease better.
Key players are expanding their geographical footprint in emerging markets
through collaborations with local distributors and leveraging the low-cost
manufacturing advantage. Asia Pacific and Latin America are identified as high
growth markets due to improving healthcare infrastructure and rising awareness.
Market Drivers and Restraints
One of the key drivers for the COPD treatment market growth is the increasing
global burden of tobacco consumption. Around 80-90% of COPD cases are linked to
tobacco smoking. Despite public health initiatives, smoking rates continue to
rise in developing nations. This will fuel the need for COPD management over
the coming years.
However, the high cost of advanced COPD drugs and devices poses a major
challenge, restricting extensive adoption. COPD treatment involves lifelong
therapy and poses a huge economic burden on patients as well as healthcare
systems. Lack of awareness about COPD symptoms in developing regions also
hinders early diagnosis and treatment seeking.
Segment Analysis
The COPD treatment market is segmented into drugs, devices and services. The
drugs segment dominates the overall market and is expected to continue its
dominance over the forecast period. Drugs primarily used for COPD treatment
include bronchodilators, corticosteroids, combination therapies and others.
Within drugs, bronchodilators hold the largest market share as they help open
up airways and make breathing easier. Corticostreroids also have significant
usage as they help control and prevent symptoms but are used less frequently
than bronchodilators due to risk of side effects. Combination therapies
comprising bronchodilators and corticosteroids together are gradually gaining
popularity as they provide dual relief from COPD symptoms.
Global Analysis
Regionally, North America holds the largest share in the COPD treatment market
owing to high COPD prevalence, advanced healthcare infrastructure and
widespread health insurance. Within North America, the US dominates due to
supportive regulatory environment and presence of major players. Europe is the
second largest regional market followed by Asia Pacific. The Asia Pacific
region is projected to witness the fastest growth over the forecast period
owing to increasing smoking rates, growing pollution and improving access to
healthcare in emerging economies like China and India. Key players maintain
focus on expanding into emerging markets of Asia Pacific and Latin America
seeing future growth potential in these regions.
Get more insights on this topic: Chronic
Obstructive Pulmonary Disease (COPD) Treatment Market
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