Report Overview
The US Asthma and COPD Drugs market is expected to grow from USD XX billion in 2019 to USD XX billion in 2028 at a compound annual growth rate (CAGR) of XX%
Asthma is a chronic respiratory disease blocking the airways of the lung because of inflammation, mucus production, tightening of muscles. Chronic Obstructive Pulmonary Disease(COPD) is caused by an obstruction in the airways causing difficulty in breathing, with the primary cause as tobacco smoking. Increasing member of smokers is also expected to aid in the growth of the market. In 2019, an estimated 14.0% (34.1 million) of U.S. adults were current cigarette smokers. The respiratory drugs market witnessed significant growth mainly due to the COVID-19 outbreak. More than 25 million Americans have asthma. Asthma has been increasing since the early 1980s in all ages, sex, and racial groups. It is the top reason for missed school days. Combination Therapies held a dominant position in the US asthma and COPD Drugs market in 2019, accounting for Bronchodilators and Anti-Inflammatories, respectively. According to the Centers for Disease Control and prevention, total annualized medical expenditures among U.S. workers were $7 billion ($901 per person) for asthma and $5 billion ($681 per person) for COPD
Market Growth Drivers
The use of drugs has emerged as an effective solution for the treatment of COPD and asthma, which largely contributes to the growth of this market. The market is driven by the growing patient of COPD and asthmatic population. The growth of the US market is driven by the increasing COPD and asthma prevalence and rising number of smokers. Asthma and COPD drug market is likely to register a significant boost over the analysis period, which would create potential opportunities for new market players to grow. U.S. led the asthma and COPD Drug market owing to the strong pipeline for novel therapies, technological advancements, and growing disease prevalence. An increase in pipeline products growth in initiatives implemented by the government and non-government associations for rise in health awareness are the major factors that will fuel the growth of the Asthma and COPD Drug. However, stringent government regulatory requirements for the approval of asthma and COPD drugs, the asthma and COPD drugs showing side effects, patent expiry of the drugs restrict the market growth
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