Market Overview:
Asthma and COPD are chronic inflammatory diseases of the respiratory system that cause widespread damage to airways. In asthma, repeated inflammation of the airways leads to narrowing of the airways which makes breathing difficult. In COPD, blocked flow of air in the lungs causes debilitating symptoms like cough, mucus production and shortness of breath. Medications like inhalers, nebulizers and oral drugs are widely used to manage symptoms and prevent exacerbation of these conditions.

Market key trends:
Increasing prevalence of asthma and COPD: According to WHO reports, currently around 235 million people suffer from asthma globally and over 30 million people suffer from COPD in the U.S. alone. Risk factors like smoking, air pollution and viral infections are driving up prevalence of these diseases around the world. Increasing multi-morbidity and aging population is projected further increase disease burden in coming years. This rising patient pool signifies growing demand for appropriate treatment and management of these chronic respiratory diseases over the forecast period.

The global Asthma And COPD Market Demand is estimated to be valued at US$ 35.2 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis

Threat of new entrants: The threat of new entrants in the asthma and COPD market is moderate as it requires high R&D investments and clinical trials for drug development. Established brands have pricing power and customer loyalty due to proven effectiveness.

Bargaining power of buyers: The bargaining power of buyers is moderate as the asthma and COPD treatment options are differentiated based on severity of symptoms. However, availability of generic drugs provides options.

Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute raw material sources and commoditized nature of inputs. Suppliers do not have control over pricing.

Threat of new substitutes: The threat of new substitutes is moderate as newer targeted therapies and biologics are replacing conventional drugs. However, safety concerns over new therapies exist.

Competitive rivalry: Intense due to presence of large pharma companies with extensive portfolio and regional players with low-cost generics.

SWOT Analysis

Strength: Large patient population and increasing disease prevalence due to environment pollution and lifestyle changes driving market growth. Established brands have strong R&D capabilities.

Weakness: Stringent regulations and long product approval timelines increase costs. Recent patent expiries resulted in price erosion and competition from generics.

Opportunity: Emerging economies with high disease burden and improved access to healthcare present new markets. Biologics and targeted oral therapies offer improved outcomes.

Threats: Safety issues can impact brand image and sales. Low treatment adherence and lack of awareness in developing nations are challenges.

Key Takeaways

The global asthma and COPD market is expected to witness high growth at a CAGR of 4.9% over the forecast period, due to increasing environmental pollution and sedentary lifestyles. Asia Pacific region is poised to be the fastest growing market for asthma and COPD treatment owing to its large patient population and improving access to healthcare in countries like India and China.

North America currently dominates the market, with the US accounting for the major share, due to developed healthcare infrastructure and higher adoption of expensive biologics and specialty drugs. However, the market in emerging Asian countries is set to surpass North America in the long run.

Key players operating in the asthma and COPD market are AstraZeneca, Novartis AG, GSK plc, Merck & Co., Inc., Verona Pharma plc, and Regeneron Pharmaceuticals Inc. Major players are focusing on developing novel drug therapies through collaborations and acquisitions to strengthen their product pipelines.
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Read More: https://www.ukwebwire.com/the-new-avanue-for-asthma-and-copd-market-growth-trends-and-forecast-analysis/