Chronic obstructive pulmonary diseases, more commonly referred to as COPD has been increasing rapidly in incidence due to various factors. Various types of COPD exist, and increasing demand for treatment and early diagnosis of COPD have significantly increased the market's growth in recent years. Market Research Future has conducted a thorough examination of the global COPD market and has found that the market is due to grow at a significant rate over the forecast period from 2016 to 2022.
Chronic Obstructive Pulmonary Disease (COPD) Market Size was valued at USD 1.82 billion in 2021 and is projected to grow from USD 3.07 Billion in 2022 to USD 29.33 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2022 - 2030). COPD most commonly includes diseases such as emphysema and chronic bronchitis among others. The overall increasing prevalence of chronic diseases combined with the demand for effective treatment of chronic diseases are expected to encourage market growth. Rising levels of smoking among adults has been found to be a major factor driving the growth of the COPD market. Most types of COPD occur due to external factors which obstruct proper pulmonary function. Rising pollution levels and the increasing prevalence of asthma are some other factors driving the growth of the market. COPD market is likely to grow consistently as there are no true cures for COPD. However, treatment can minimize symptoms and reduce further damage to the pulmonary system. COPD primarily afflicts adults in the 50 and above age demographic. The expanding geriatric population across the globe is also driving market growth.
The increasing efficiency in healthcare systems across the globe and rising healthcare investments are expected to assist growth. Moreover, increasing R&D activities toward helping reduce COPD as well advancement of medical technology is expected to provide market opportunities in the coming years.
Market Segmentation
MRFR's segmentation of the global chronic obstructive pulmonary disease market insights includes type, diagnosis, treatment, and region. Types of COPD are segmented to include chronic bronchitis and emphysema. Diagnosis of COPD includes spirometry, diagnostic tests, and others. Diagnostic tests have been segmented further into chest X-ray and complete blood count.
Treatment of chronic obstructive pulmonary disease has been segmented into lung transplant, oxygen therapy, drug therapy, vaccination, surgery, and others. The drug therapy segment in the COPD market has been sub-segmented to include inhaled steroids, combination inhalers, oral steroids, and others.
Key geographies that have been included in the analysis of the global COPD market include the Americas, Europe, Asia Pacific, and the Middle East and Africa
Regional Analysis
The Americas have been observed to have captured the largest share of the COPD market. The North American segment in the region leads growth and is expected to retain its position. The presence of a developed healthcare system, combined with the growing demand for advanced treatments have increased R&D activities for the same. The Americas region is followed by Europe which has several key players making efforts toward the development of COPD treatments.
The Asia Pacific market is slated to grow at the most rapid pace. The region has a high pollution rate and an immense patient pool which impacts the COPD market considerably. Increasing incidences of COPD diseases in the region, and the healthcare reforms taking place are expected to make the region a leading regional segment in the years to come.
Key Players
Dr. Reddy’s Laboratories Ltd, Abbott, GSK, F. Hoffmann-La Roche Ltd, Novartis AG, Pfizer Inc, Merck, AstraZeneca, and others are among the leading competitors in the global chronic obstructive pulmonary disease market. These players have been studied in MRFR's report extensively for their competitive strategies.
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