April 17, 2024
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market

Chronic Obstructive Pulmonary Disease (COPD) Treatment is Estimated to Witness High Growth Owing to Growing Global Disease Burden

Chronic obstructive pulmonary disease (COPD) includes conditions such as emphysema and chronic bronchitis that are characterized by persistent respiratory symptoms and airflow limitation. COPD develops due to long-term exposure to irritating gases or particulate matter, usually from cigarette smoke. It damages the air sacs in the lungs irreversibly and makes breathing difficult. COPD treatment involves managing the symptoms, preventing further lung damage, and improving quality of life through actions like quitting smoking, medication, pulmonary rehabilitation, and sometimes surgery.

The Global Chronic Obstructive Pulmonary Disease (COPD) Treatment Market is estimated to be valued at US$ 20.86 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the COPD treatment market are First Sensor AG, Bosch Sensortec GmbH, Honeywell International Inc., Murata Manufacturing Co. Ltd., ROHM Co. Ltd., Amphenol Corporation, InvenSense Inc. (TDK Corporation), Sensata Technologies Inc., NXP Semiconductors NV (Freescale), Goertek Inc., TE Connectivity Ltd., STMicroelectronics NV, Infineon Technologies AG, Omron Corporation, and Alps Alpine Co. Ltd. The growing prevalence of COPD due to rising pollution levels and tobacco consumption presents lucrative growth opportunities. There is an increasing focus on monitoring devices, combination therapies, and self-management tools to improve patient outcomes and quality of life.

Geographically, North America dominates the global COPD treatment market and is expected to continue its dominance during the forecast period. This can be attributed to the rising disease burden, favorable reimbursement policies, advanced healthcare infrastructure, and presence of major players. However, Asia Pacific is anticipated to witness the highest growth rate owing to growing pollution levels, large patient pool, improving healthcare infrastructure and rising healthcare spending.

Market drivers

The growing global disease burden of COPD is a key driver propelling the market growth. As per the WHO, COPD affected over 384 million people worldwide in 2017 and was the third leading cause of death. It is projected that by 2030, COPD will become the seventh leading cause of death across the globe. Additionally, continued tobacco use and rising air pollution levels are further expected to increase the COPD patient population globally. This growing disease prevalence will augment the demand for treatment drugs and devices, thereby driving market revenues during the forecast period.

PEST Analysis
Political: Regulations related to the marketing and sales of COPD medicines and devices. Government initiatives to spread awareness about COPD prevention and management.
Economic: Spending capability of patients on healthcare and treatment. National healthcare budgets and insurance coverage available for COPD therapies.
Social: Growing pollution levels increasing risk of COPD. Aging population more prone to lung diseases. Stigma around smoking and lung illnesses reducing timely diagnosis and management.
Technological: Advancements in inhalers, nebulizers and portable oxygen delivery systems improving treatment effectiveness and adherence. Digitization of healthcare enabling remote monitoring. Development of personalized combination therapies.

Geographical Regions with Highest Value Share
North America dominates the global COPD treatment market in terms of value, owing to a large patient pool, developed healthcare infrastructure and high adoption of premium medications and devices. However, Asia Pacific is expected to witness the fastest value growth during the forecast period due to increasing pollution, rising incidence of COPD and improvements in accessibility and affordability of therapies across developing countries in the region.

Fastest Growing Region
Asia Pacific region is poised to register the highest CAGR in the global COPD treatment market during the forecast period. Factors such as the large geriatric demographic in China and India, growing levels of air pollution from industrialization and urbanization, increasing focus of international players on establishing local manufacturing facilities and partnerships with regional pharmaceutical companies, rising healthcare expenditures, and expanding insurance coverage will primarily drive the high growth of the COPD treatment market in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it