Chronic Obstructive Pulmonary Disease Market is expected to reach US$ 33.19 Billion by 2033, at a CAGR of 4.4%

The global Chronic Obstructive Pulmonary Disease (COPD) Market size is expected to be worth US$ 21.58 billion in 2023. With increased alcohol consumption, the overall demand for Chronic Obstructive Pulmonary Disorder (COPD) is predicted to climb at a 4.4% CAGR between 2023 and 2033, reaching approximately US$ 33.19 billion by 2033.

According to the Institute of Health Metrics and Evaluation's Global Burden of Disease report, there are 251 million cases of COPD worldwide. According to the World Health Organisation, around 200 million people worldwide were diagnosed with COPD in 2016. Furthermore, increased urbanisation in developing Asia Pacific countries exposes the population to numerous types of lung irritants, which could be a key risk factor for COPD.

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Furthermore, the World Health Organisation (WHO) maintains that tobacco smoke exposure, both first-hand and second-hand, is the most common cause of COPD. This global increase in COPD prevalence is a crucial factor driving the COPD market's growth in the next years. Furthermore, the growth in cigarette smoking among millennials, combined with increased population awareness about the use of generic drugs, is expected to contribute to the revenue share of the chronic obstructive pulmonary disease market in the near future.

According to the Centres for Disease Control and Prevention (CDCP), the cost of COPD in the United States was US$ 32.1 billion in 2010, and is expected to rise to US$ 49.1 billion by 2020. As a result, the continuous increase in COPD cases among the global population is a prominent driver that will accelerate the growth of the COPD market over the forecast period.

Key Takeaways from the Market Study

• By the end of 2022, the global Chronic Obstructive Pulmonary Disease (COPD) market was worth US$ 20.67 billion.
• From 2018 to 2022, market demand increased at a 2.4% CAGR.
• The Chronic Bronchitis sector of the market accounts for the majority of the market with a 43% market share.
• With a 42% market share, the Retail Pharmacies category dominates the market by Distribution Channel.
• Chronic Obstructive Pulmonary Disease (COPD) sales are predicted to grow at a CAGR of 4.4% between 2023 and 2033.
• Chronic Obstructive Pulmonary Disease (COPD) is predicted to have a market value of US$ 33.19 billion by 2033.

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Continual increase in cases of COPD globally, coupled with rising cases of tobacco consumers are the major factors escalating the growth of the Chronic Obstructive Pulmonary Disease (COPD) market in the near future, remarks an FMI analyst.

Competitive Landscape

Prominent players in the Chronic Obstructive Pulmonary Disease (COPD) market are Almirall, AstraZeneca, Boehringer Ingelheim International GmbH, CHIESI Farmaceutici S.p.A., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc., Kyowa Hakko Kirin, Mylan N.V., Novartis AG, Orion Corporation, Sanofi, Sunovion Pharmaceuticals, Inc. (Sumitomo Dainippon Pharma Co., Ltd.), Teva Pharmaceutical Industries Ltd., Theravance Biopharma, and Verona Pharmaceuticals, among others.

Recent Developments:

• In June 2022, Verona Pharma, a pharmaceutical company, announced completion of the patient enrolment, with more than 800 subjects involved for its randomized ENHANCE-1 trial. The study will evaluate ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease. It is a critical step for the phase III ENHANCE trial with top-line data expected by the end of the year 2022 and further data from ENHANCE-2 in the third quarter of 2022.
• In May 2022, Alembic Pharmaceuticals Ltd, a pharmaceutical company, received final approval from the US health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the U.S. Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for strength of 15 mcg (base)/2 mL unit-dose vial.

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Know More About What the Chronic Obstructive Pulmonary Disease (COPD) Market Repost Covers

Future Market Insights offers an unbiased analysis of the global Chronic Obstructive Pulmonary Disease (COPD) Market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033. To understand opportunities in the Chronic Obstructive Pulmonary Disease (COPD) Market, the market is segmented on the basis of drug class, type, and distribution channel, across five major regions.

Key Segments Covered in the Chronic Obstructive Pulmonary Disease (COPD) Industry Analysis

Chronic Obstructive Pulmonary Disease (COPD) Market by Drug Class:

• Combination Therapy
• Bronchodilators
• Corticosteroids
• Phosphodiesterase Type 4 Inhibitor
• Mucokinetics
• Others

Chronic Obstructive Pulmonary Disease (COPD) Market by Type:

• Chronic Bronchitis
• Emphysema

Chronic Obstructive Pulmonary Disease (COPD) Market by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies