Yahoo Finance Asthma & COPD Therapies market is projected to grow at a CAGR of 7.31% by 2033: Visiongain Reports Ltd
Visiongain has published a new report entitled Asthma & COPD Therapies 2023-2033. It includes profiles of Asthma & COPD Therapies and Forecasts Market Segment by Product (Anti-inflammatory Drugs, Bronchodilators Monotherapy, Combination Drugs), Market Segment by Route of Administration (Oral, Inhaled, Others), Market Segment by Point of Sale (Retail Pharmacies, Hospital Pharmacies, Others), plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country.
The asthma & COPD therapies market is estimated to be valued at US$47.85 billion in 2023 and is projected to grow at a CAGR of 7.31% during the forecast period 2023-2033.
High Costs of Treatment
Asthma and COPD are a significant burden to society in terms of healthcare cost and loss of productivity. As these diseases cannot be cured, the economic burden of the disease lasts for the duration of the patient's lifetime. COPD creates a substantial burden to individuals and families, thus leading to restrictions on the patient's day-to-day life & an enormous burden to society. The majority of costs are due to hospitalisation of patients with severe illness or exacerbations, so drugs that can reduce the risk of severe exacerbations have a favourable economic case for reimbursement.
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How has COVID-19 had a Significant Impact on the Asthma & COPD Therapies Market?
Due to respiratory physicians concentrating on the pandemic, a decline in patients visiting hospitals, and self-isolation reducing exacerbation rates, the respiratory market has been significantly impacted. We are now in an era where wellness and preventive care are more important than ever thanks to the COVID-19 epidemic, which has forced us to re-evaluate our outdated healthcare system. As a result, finding & promoting wellness solutions would be crucial over the forecast period.
How will this Report Benefit you?
Visiongain’s 249-page report provides 107 tables and 130 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the asthma & COPD therapies market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Asthma & COPD Therapies. Get financial analysis of the overall market and different segments including product, route of administration, point of sale, and capture higher market share. We believe that there are strong opportunities in this fast-growing asthma & COPD therapies market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Significant Areas of Unmet Needs to Boost Industry Growth
The asthma market is becoming highly competitive, but there remain significant areas with unmet needs. Pharmaceutical companies will depend on life cycle management strategies in the immediate future to maintain profits with newer pipeline products becoming available over the forecast period. A wide-ranging portfolio is the requirement for asthma, as more subgroups of patients non-reactive to certain medications come up. Significant revenue growth is expected for severe asthma when monoclonal antibodies reach the market.
Social Stigma
Stigma is used as one of the main public policy challenges and an obstacle to the delivery of healthcare facilities. Health-related stigma impacts people's survival chances by growing their exposure to threats and limiting access to preventive factors that contribute to increased disease burden. Measuring stigma rates are very important for public development, plan creation and assessment, advocacy research and greater adoption of epidemic prevention initiatives. With increasing awareness, the social stigma of using inhalers has been reduced substantially. This is likely to increase the uptake of medications in early age and manage the disease on a regular basis.
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Where are the Market Opportunities?
Developments in Telehealth Sector to Offer Lucrative Growth Opportunities
Telehealth refers to systems of providing healthcare-related services and information via telecommunication devices. This can include text messages, phone calls, email, mobile apps and other methods. Telehealth can enable services such as remote patient management, supporting prevention, promotion and curing services.
Asthma & COPD are chronic conditions that require regular monitoring and frequent changes to medication. In addition, patient adherence to treatment and inhaler technique affects clinical outcomes. Improvements in these areas could increase demand for asthma and COPD therapies and have a positive effect on market growth. Recently, steps have been undertaken by the healthcare agencies and private companies across the world in initiating telehealth as a mode of management for asthma and COPD patients.
In October 2022, Umass Chan Medical School and Wellinks collaborated to work together to launch a new program called Healthy at Home, which will focus on assessing the efficacy level of a virtual care solution in treating COPD and preventing acute care needs among those with the disease. Researchers intend to evaluate the effects of the program on patient-reported outcomes over the course of six months. The program includes several elements: the Mobile Integrated Health service, the Mobile Integrated Health Dashboard, and the Wellinks virtual-first COPD management solution. The Mobile Integrated Health service, which will focus on triage, will include a team of paramedics available 24/7, in-home medical evaluations, and treatments in consultation with a supervising physician. The Mobile Integrated Health dashboard provides individual data, including from wearable sensors and the EHR. The solution offers virtual pulmonary rehabilitation, customized health coaching, remote monitoring through connected devices, and a patient application.
Competitive Landscape
The major players operating in the asthma & COPD therapies market are AstraZeneca, GSK plc, Boehringer Ingelheim, Teva Pharmaceutical Industries Ltd., Viatris Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Mundipharma, Cipla Inc., Pulmatrix, TFF Pharmaceuticals, Inc., Respiratorius AB, Chiesi Farmaceutici S.p.A., Grifols S.A., Sanofi SA, Sunovion Pharmaceuticals Inc., Transpire Bio, and Verona Pharma plc. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.
Recent Developments
In November 2022, Teva Pharmaceuticals announced a new partnership with HealthSnap, a leading full-service Virtual Care Management Platform for the management of chronic diseases including chronic respiratory diseases.
In February 2022, Honeywell announced a commercial partnership with AstraZeneca to develop and bring to market next-generation respiratory inhalers that use near-zero global warming potential (GWP) propellants to treat asthma and chronic obstructive pulmonary disease (COPD).
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Visiongain Reports Limited
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