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Chronic Obstructive Pulmonary Disease (COPD) Clinical Trials Market in 2024 Detailed Study Analysis
According to the latest research by InsightAce Analytic, the Global Chronic Obstructive Pulmonary Disease (COPD) Clinical Trials Market is valued at US$ 19.49 Bn in 2023, and it is expected to reach US$ 33.61 Bn by 2031, with a CAGR of 7.20% during the forecast period of 2024-2031.
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Chronic obstructive pulmonary disease is a range of lung disorders that cause difficulty breathing. The two basic types of chronic obstructive pulmonary disorders are emphysema and chronic bronchitis. One of the most common symptoms of COPD is difficulty breathing. One key reason projected to accelerate the industry's development and consumer demand for chronic obstructive pulmonary disease is the global increase in COPD cases. Furthermore, the global market is likely to grow throughout the forecast period due to rising young cigarette smoking and a general increase in public awareness of the benefits of using generic medications.
List of Prominent Players in the Chronic Obstructive Pulmonary Disease (COPD) Clinical Trials Market:
• AstraZeneca
• Boehringer Ingelheim International GmbH
• CHIESI Pharmaceutics S.p.A.
• Glaxo SmithKline plc
• Mylan N.V.
• Novartis AG
• Sunovion Pharmaceuticals, Inc. (Sumitomo Dainippon Pharma Co., Ltd.
• Teva Pharmaceutical Industries Ltd
• Pfizer Inc.
• Almirall
• Astellas Pharma
• Sanofi
Market Dynamics:
Drivers-
The rise in COPD cases among populations worldwide is one of the key factors estimated to boost the growth and demand for the chronic obstructive pulmonary disease market. Furthermore, the rise in tobacco smoking among the youth population and increased population awareness about the use of generic drugs are likely to contribute to the growth of the market. Furthermore, an increase in healthcare spending is providing facilities in emerging nations for chronic obstructive pulmonary disease, and an increase in awareness among people in developing and undeveloped countries is expected to boost market growth.
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Challenges:
COPD is a chronic disease that frequently necessitates long-term care and specialist treatment, both of which are costly. Furthermore, many COPD patients have other comorbidities, which raises healthcare costs even further. For many patients, the expense of COPD treatment is a major obstacle to access, particularly in poor countries with high healthcare expenditures and limited insurance coverage. This results in illness underdiagnosis and undertreatment, which has a wrong impact on patient outcomes and quality of life.
Regional Trends:
The North America Chronic Obstructive Pulmonary Disease Clinical Trials market is likely to register a significant revenue share and develop at a rapid CAGR shortly. The high prevalence of COPD, modern healthcare infrastructure, prominent pharmaceutical companies, and a favourable regulatory environment contribute to the region's growth. COPD is a primary cause of death and disability in the US, affecting an estimated 16 million individuals. The region's high prevalence of COPD is boosting the demand for COPD therapy. Furthermore, North America has a well-established healthcare system that supports diagnosing, treating, and managing COPD. The region has a vast network of hospitals, clinics, and pharmacies offering COPD treatments, contributing to the market's growth.
Recent Developments:
• In March 2023, A Phase 3 clinical trial for chronic obstructive pulmonary disease was successfully concluded by Sanofi and Regeneron with their anti-inflammatory medication. This accomplishment presents Dupixent, the medication, with the chance to become the inaugural biologic therapy to obtain authorization for the condition.
• In April 2022, GlaxoSmithKline Pharmaceuticals introduced Trelegy Ellipta for people with COPD. Trelegy Ellipta is India's first once-daily single-inhaler triple treatment (SITT) for COPD patients.
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Segmentation of Chronic Obstructive Pulmonary Disease (COPD) Clinical Trials Market-
By Drug Class -
• Bronchodilators
• Combination
• Corticosteroids
• Phosphodiesterase
By Type
• Chronic Bronchitis
• Emphysema
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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