Asthma and COPD are the chronic inflammatory lung diseases. Asthma causes inflammation and narrowing of the airways that carry air in and out of the lungs resulting in wheezing, coughing, chest tightness and shortness of breath. COPD is a progressive lung disease that makes it hard to breathe. The key products available in the market for treatment of asthma and COPD are combination therapies (corticosteroids and long-acting beta-agonists), corticosteroids, long-acting beta-agonists, anti-IgE biologics, antihistamines, and others. These products provide relief from symptoms and help maintain lung capacity by keeping airways open.

The Asthma And COPD Market is estimated to be valued at US$ 35.2 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rise in prevalence of asthma and COPD is expected to be the major trend driving the growth of the market. According to WHO estimates, COPD affected over 65 million people worldwide in 2018 and caused over 3 million deaths in 2015. The U.S. Centers for Disease Control and Prevention (CDC) reports that about 25 million Americans currently have asthma. About 7.7% of adults and 8.4% of children have asthma. Increasing air pollution levels, cigarette smoking, infections associated with asthma attack, and genetic factors are few of the major causes leading to rising incidence of asthma and COPD globally.

Porter's Analysis

Threat of new entrants: The threat of new entrants in the Global Asthma And COPD Market Size is moderate as it requires substantial investments in R&D and clinical trials to develop new drugs. Regulations around safety and efficacy of new drugs also creates entry barriers.

Bargaining power of buyers: The bargaining power of buyers is moderate. The presence of many established drug manufacturers limits the bargaining power of buyers to some extent. However, growth in generic drugs has increased options for buyers.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many raw material suppliers and commoditization of raw materials. Suppliers have limited control over pricing.

Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options for asthma and COPD currently. However, alternative delivery methods can pose a threat.

Competitive rivalry: The competitive rivalry in the market is high owing to many global players competing for market share.

SWOT Analysis

Strengths: Established R&D capabilities and vast product portfolios give major players an edge. Increasing adoption of combination therapies works in favor.

Weaknesses: High dependency on few blockbuster drugs results in revenue volatility. Rising development costs and regulatory hurdles add pressures.

Opportunities: Growing geriatric population and poor air quality in emerging nations drive market growth. Newer biologics and alternatives to inhalers present scope.

Threats: Patent cliffs of major drugs act as a constraint. Alternative treatment approaches and preference for generics also pose threats.

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