The Global "Asthma and COPD Drug Market" are expected to grow at a high CAGR of 3.9% during the forecasting period (2022-2029).
Asthma is a non-communicable, chronic inflammatory lung disorder of the airways. Airways hyper-responsiveness leads to recurrent episodes of wheezing, breathlessness, chest tightness, and cough. Chronic obstructive pulmonary disease (COPD) is characterized by airflow limitation that is not fully reversible. COPD includes emphysema, a complex lung disease characterized by damage to alveoli, and chronic bronchitis; chronic inflammation of to lower respiratory tract. Allergy is the strongest risk factor for asthma.
Global asthma and COPD drug market growth is driven by the increase in the incidence and prevalence of asthma and COPD, technological advancements, and a growing geriatric population.
Technological advancements in novel drugs will drive the market growth
Technological advancements are anticipated to drive the growth of the market in the forecast period. Limitations of traditional treatments, such as the late onset of action and low efficacy, are projected to encourage the development of novel targeted drugs, thereby driving the market. For instance, in February 2021, Sanofi, in collaboration with Regeneron Pharmaceuticals, initiated a Phase III clinical trial to assess the efficacy and safety of itepekimab on the annualized rate of acute moderate-or-severe COPD exacerbations in former smokers with moderate-to-severe chronic obstructive pulmonary disease (COPD). The trial is expected to be completed in July 2024. The market players are adopting various strategies such as product launches, developments, collaborations, acquisitions, and expansions to increase their market shares. For instance, in July 2020, Novartis AG received approval from the European Commission (EC) for Enerzair Breezhaler (indacaterol acetate, glycopyrronium bromide, and mometasone furoate [IND/GLY/MF]) as a maintenance treatment of asthma in adult patients not adequately controlled with a maintenance combination of a long‑acting beta2‑agonist (LABA) and a high-dose of an inhaled corticosteroid (ICS) who experienced one or more asthma exacerbations in the previous year.
According to the World Health Organization (WHO) 2021 factsheet, COPD is the third-leading cause of death worldwide, causing 3.23 million deaths in 2019. Over 80% of these deaths occurred in low- and middle-income countries (LMIC). Moreover, the increasing geriatric population globally is boosting the market growth.
The growing prevalence of asthma and COPD Drug resistance will hamper the growth of the market
However, factors such as stringent government regulations for product approvals and side effects associated with drugs are expected to hamper the market growth over the forecast period. The most common side effects of inhaled preventer medication (inhaled corticosteroids) are a hoarse voice, sore mouth and throat, and fungal infections of the throat.
COVID-19 impacted the global supply chain of pharmaceuticals, affecting the Asthma and COPD drug market. According to a research study by José Luis Izquierdo et al., published in the European Respiratory Journal, March 2021, allergy-related factors such as rhinitis and eczema were less common in asthmatic patients with COVID-19. There was a high prevalence of these comorbidities observed in patients with COVID-19 who required hospital admission.
Furthermore, the use of inhaled corticosteroids (ICS) was lower in patients who required hospitalization due to COVID-19 compared to non-hospitalized patients (48.3% versus 61.5%). Although patients treated with biologics showed increased severity and more comorbidities at the ear, nose, and throat levels, COVID-19-related hospitalizations in these patients were relatively low (0.23%). Thus, patients with asthma and COVID-19 were older and at increased risk due to comorbidity-related factors. Inhaled corticosteroids (ICS) and biologics are generally safe and may be associated with a protective effect against severe COVID-19 infection. Chronic obstructive pulmonary disease (COPD) patients have an increased risk of severe pneumonia and poor outcomes when they develop COVID-19. This may be related to poor underlying lung reserves or increased expression of ACE-2 receptors in small airways.
The asthma segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Asthma is considered one of the world's most common diseases affecting the population and a life-threatening condition affecting patients' regular breathing. It is a persistent condition that stretches and narrows the air passages of the lungs, causing constant assaults of breathlessness, bronchospasm, and reversible obstruction of airflow. Moreover, there is a large rise in the consumption of cigarettes, which contributes to asthma symptoms. In addition, the rise in industrialization has also contributed to an increase in the number of cases of asthma, which, over the forecast era, may drive the demand for asthma drugs.
The substantial increase in prevalence and incidence of asthma has led to an increase in the patient population, which has, in turn, increased the demand for these drugs. According to the World Health Organization (WHO) 2021 factsheet, asthma is a major non-communicable disease (NCD), affecting both children and adults. Globally, it affected an estimated 262 million people in 2019 and caused 461,000 deaths. Enormous investments in the study of asthma drugs accompanied by strategic collaborations such as mergers and acquisitions are the business strategies followed by the major companies in the market. For instance, in October 2019, the US Food and Drug Administration (FDA) approved the self-administration of AstraZeneca’s asthma drug Fasenra, a pre-filled, single-use auto-injector.
The North American region holds the largest market share of global asthma and COPD drug market
North America dominates the market for Asthma and COPD drugs and is expected to show a similar trend over the forecast period, owing to the rising incidence of diseases such as COPD and asthma, the aging population, increasing research and development activities, and the presence of key market players.
In the United States, asthma is more common in adult women than adult men. According to the Centers for Disease Control and Prevention 2020 report, in the United States, approximately 25 million Americans have asthma. This equals to about 1 in 13 Americans, including 8% of adults and 7% of children. About 20 million US adults aged 18 years and over have asthma. Similarly, asthma is a major public health concern in Canada. As a lifelong respiratory illness, asthma affects the work productivity, quality of life, mental health, and psychological well-being of the Canadian population. In Canada, over 3.8 million individuals had asthma in 2019, as per Canada's 2019 annual asthma survey report. The high number of patients affected by asthma increases the demand for drugs for the treatment of the target disease, thereby boosting the growth of this region.
Moreover, the rise in the number of initiatives undertaken by government and non-government organizations is increasing the overall revenue. For instance, CDC’s National Asthma Control Program (NACP) provides funds for educating asthma-affected patients. Such initiatives are likely to increase awareness about asthma, which will increase the adoption of drugs in the treatment of asthma, leading to vertical growth.
Asthma and COPD drug market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include AstraZeneca PLC, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, Novartis AG, Hoffmann-La Roche Ltd, Pfizer Inc., Grifols SA, Merck & Co. Inc., Sanofi SA, Sumitomo Dainippon Pharma Co. Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Asthma and COPD Drug Market globally. For instance in March 2021, GlaxoSmithKline PC, in collaboration with Iqvia Pty Ltd, initiated a Phase III clinical trial to evaluate the efficacy and safety of GSK3511294 (Depemokimab) in adult and adolescent patients with severe uncontrolled asthma.
GSK Plc is a healthcare company, which engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. It operates through the following segments: Pharmaceuticals; Pharmaceuticals R&D; Vaccines and Consumer Healthcare.
Trelegy Ellipta: Trelegy Ellipta was approved as the first once-daily single inhaler triple therapy for the treatment of appropriate patients with COPD in the US.