Asthma And COPD Drugs Market Trends

Statistics for the 2023 & 2024 Asthma And COPD Drugs market trends, created by Mordor Intelligence™ Industry Reports. Asthma And COPD Drugs trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Asthma And COPD Drugs Industry

The Asthma Segment is Expected to Hold a Significant Market Share Over the Forecast Period

Asthma is considered one of the world's most common diseases affecting the population and a life-threatening condition affecting patients' regular breathing. It is a persistent condition that stretches and narrows the air passages of the lungs, causing constant assaults of breathlessness, bronchospasm, and reversible obstruction of airflow. Moreover, there is a large rise in the consumption of cigarettes, which contributes to asthma symptoms. In addition, the rise in industrialization has also contributed to an increase in the number of cases of asthma, which is expected to drive the growth of the studied segment.

The substantial increase in the prevalence and incidence of asthma has increased the patient population, increasing the demand for these drugs. According to the Australian Bureau of Statistics data 2021, over 2.7 million Australians had asthma in 2021. The data also mentioned that females were more likely to have asthma (12% compared to 9.4%). Enormous investments in the study of asthma drugs accompanied by strategic collaborations such as mergers and acquisitions are the business strategies followed by the major companies in the market.

For instance, in March 2021, GlaxoSmithKline PC, in collaboration with Iqvia Pty Ltd, initiated a Phase III clinical trial to evaluate the efficacy and safety of GSK3511294 (Depemokimab) in adult and adolescent patients with severe uncontrolled asthma. The trial was expected to be completed in October 2023. Similarly, in February 2021, AstraZeneca PLC, in collaboration with Amgen Inc., initiated a Phase I clinical trial to evaluate the pharmacokinetic (PK) profile of a single subcutaneous (SC) dose of tezepelumab in children aged 5 to 11 years with asthma. The trial was expected to be completed in September 2021. Thus, the aforementioned factors
such as an increase in the prevalence and incidence of asthma and rising product developments are expected to drive segment growth over the forecast period.

Asthma and COPD Drugs Market - Prevalence of Asthma Cases (in %), By Age and Gender, Australia, 2021

North America is Expected to Hold a Significant Market Share Over the Forecast Period

The North American region is expected to dominate the asthma and COPD drugs market during the forecast period. This growth can be attributed to the rising incidence of diseases such as COPD and asthma, the aging population, increasing research and development activities, and the presence of key market players.

The rising prevalence of Asthma and COPD in North American Countries is expected to fuel the growth of the market. For instance, the AAFA article published in September 2022, mentioned that more than 25 million people in the United States have asthma. And an NIH article published in March 2022 mentioned that in the United States, COPD affected more than 15 million adults. Similarly, asthma is one of the major public health concerns in Canada which is expected to contribute to the growth of the studied market. According to the Statistics Canada data published in August 2022, over 2,802,700 cases of asthma were recorded in Canada. The high number of patients affected by asthma increases the demand for drugs for the treatment of the target disease, thereby boosting the growth of this region.

Moreover, the rise in the number of fundings undertaken by government and non-government organizations is expected to boost market growth in this region. For instance, in March 2022, United States federal health programs issued a bill that includes USD 8.5 billion to continue support for CDC asthma programs. This includes USD 30 million for the National Asthma Control program. Such funding is likely to increase awareness about asthma, which will increase the adoption of drugs in the treatment of asthma, leading to verticle growth.

In addition, the local presence of key pharmaceutical players, advanced healthcare infrastructure, and increasing research and development activities in the development of novel therapies are boosting the market growth. For instance, in March 2021, AstraZeneca PLC started a Phase III clinical trial in Mexico and the United States, to assess the efficacy and safety of budesonide/glycopyrronium/formoterol inhalers in adults and adolescents with severe asthma inadequately controlled with the standard of care. The trial was expected to be completed in September 2024. Also, in July 2021, AstraZeneca's Biologics License Application (BLA) for tezepelumab was accepted and granted Priority Review for the treatment of asthma by the United States Food and Drug Administration (FDA). Tezepelumab is being developed by AstraZeneca in collaboration with Amgen Inc. Thus, the factors such as a rise in the number of fundings, increasing research and development activities, and increasing prevalence of Asthma and COPD are expected to drive market growth over the forecast period.

Asthma and COPD Drugs Market - Growth Rate by Region

Asthma and COPD Drugs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)