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Chronic Obstructive Pulmonary Disease (COPD) Treatment Market Share, Size, Trends, Growth Report And Outlook 2024-2033
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market Share
According to The Business Research Company's, The chronic obstructive pulmonary disease (copd) treatment market size has grown strongly in recent years. It will grow from $20.08 billion in 2023 to $21.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to smoking epidemic and tobacco use, advancements in inhalation therapies, awareness programs and early diagnosis, government initiatives for respiratory health, research and development in pulmonology.
The chronic obstructive pulmonary disease (copd) treatment market size is expected to see strong growth in the next few years. It will grow to $26.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to personalized medicine and biomarker research, biologic therapies and targeted interventions, air quality concerns and environmental factors, global efforts for smoking cessation, collaborations for drug development. Major trends in the forecast period include digital health solutions for copd management, biologic therapies for copd, emergence of personalized medicine, combination therapies and inhalers, early diagnosis and intervention, pulmonary rehabilitation programs.
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Market Drivers and Trends:
The increasing prevalence of lung disease is expected to propel the growth of the chronic obstructive pulmonary disease (COPD) treatment market. Lung disease is a disorder that affects the lungs and keeps them from functioning properly. The most common lung diseases are asthma, COPD, and lung cancer. Chronic obstructive pulmonary disease (COPD) treatment is primarily used to treat lung disease, decrease the condition's progression, control the symptoms, and avoid lung damage by employing inhalers and drugs. For instance, in September 2022, according to the global initiative for Chronic obstructive lung disease (GOLD), a US-based non-profit organization, 3.2 million people per year die from the chronic obstructive pulmonary disease (COPD), which affects an estimated 200 million people. Additionally, asthma affected 262 million people globally in 2022. These numbers are expected to rise in the future. Moreover, in 2023, according to the LUNGevity Foundation, a US-based non-profit organization, due to lung cancer, 127,000 Americans will die in the US each year. Therefore, the increasing prevalence of lung disease is driving the growth of the chronic obstructive pulmonary disease (COPD) treatment market.
Product innovation is a key trend gaining popularity in the chronic obstructive pulmonary disease (COPD) treatment market. Major companies operating in the chronic obstructive pulmonary disease (COPD) treatment market are focusing on developing innovative products to sustain their position in the market. For instance, in April 2022, GlaxoSmithKline plc (GSK), a UK-based pharmaceutical and biotechnology company, launched Trelegy Ellipta (fluticasone furoate, umeclidinium, and vilanterol), the first single-inhaler triple treatment (SITT) for patients in India with chronic obstructive pulmonary disease (COPD). Trelegy Ellipta is used as a maintenance medication to treat and prevent the signs and symptoms of chronic obstructive pulmonary disease (COPD) in people 18 years of age and older. It performs similarly to natural corticosteroid hormones, reducing immune system activity by attaching to receptors (targets) on particular immune cell types. Additionally, it helps reduce swelling of the airways in the lungs to make breathing easier.
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Major Key Players of the Market:
Almirall S.A.; AstraZeneca plc; Boehringer Ingelheim International GmbH; F. Hoffmann-La Roche Ltd.; GlaxoSmithKline plc; Novartis AG; Teva Pharmaceutical Industries Ltd.; Astellas Pharma Inc.; Abbott Laboratories; Chiesi Farmaceutici S.p.A; Mylan N.V.; Orion Corporation; Sunovion Pharmaceuticals Inc.; Dr. Reddy's Laboratories Ltd.; Circassia Group PLC; Kyowa Kirin Co. Ltd.; Sanofi S.A; Theravance Biopharma Inc.; Verona Pharmaceuticals plc; Alcon Laboratories Inc.; Amgen Inc.; Apotex Inc.; Aurobindo Pharma Limited; Biocon Limited; Biogen Inc.; Bristol-Myers Squibb Company; Cipla Limited; Eli Lilly and Company; Glenmark Pharmaceuticals Limited; Hikma Pharmaceuticals plc; Lupin Limited; Meda AB; Mundipharma International Limited; Pfizer Inc.
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market 2024 Key Insights:
• The chronic obstructive pulmonary disease (copd) treatment market will grow to $26.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Surge In Lung Disease Prevalence Fuels Momentum In The Chronic Obstructive Pulmonary Disease (COPD) Treatment Market
• Glaxosmithkline Introduces Trelegy Ellipta A Revolutionary Single-Inhaler Triple Treatment For Chronic Obstructive Pulmonary Disease (COPD)
• North America was the largest region in the chronic obstructive pulmonary disease (COPD) treatment market in 2023
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