Chronic Obstructive Pulmonary Disease Treatment Market is Anticipated Expand at a CAGR of 4.7% From 2018 to 2026
Transparency Market Research (TMR) has published a new report titled, “Chronic Obstructive Pulmonary Disease (COPD) Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global chronic obstructive pulmonary disease treatment market was valued at US$ 16,623.9 Mn in 2017 and is anticipated expand at a CAGR of 4.7% from 2018 to 2026. High prevalence of COPD, promising drugs in pipeline, growth of the pharmaceutical industry in emerging markets such as Asia Pacific, and launch of products such as inhalers are projected to augment the global market from 2018 to 2026.
COPD is a common respiratory disease characterized by inflammation of the airways, which results in difficulty in breathing. The disease affects adults, children, and the geriatric population across the globe. According to the Global Burden of Disease Study (in 2016), 251 million cases of COPD were reported across the world and the disease led to 3.17 million deaths in 2015, with 90% deaths in low and middle-income countries.
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A number of market players have received approvals from the Food and Drug Administration (FDA), the European Commission, and other regulatory authorities in the past few years. These players have launched new products such as triple therapy drugs and other combinations in the market, enabling them to gain significant market share. In December 2018, AstraZeneca received approval from the European Commission (EC) for Bevespi Aerosphere in a pressurized metered-dose inhaler (pMDI) indicated as a maintenance dual bronchodilator treatment in adult patients with COPD.
This approval enabled the company to add its technologically advanced product to the existing product offering for patients in Europe. In December 2018, Teva Pharmaceutical Industries Ltd. received the U.S. Food and Drug Administration (FDA) approval for ProAir Digihaler inhalation powder, a digital inhaler with built-in sensors connoted to a companion mobile application. This approval helped the company to strengthen its innovation capabilities in respiratory care, thereby achieving significant growth in the market.