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|Chronic Obstructive Pulmonary Disease (COPD) Market to Set Phenomenal Growth from 2020 to 2025
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|Chronic Obstructive Pulmonary Disease (COPD) Market
Chronic obstructive pulmonary disease (COPD) is a chronic
inflammatory pulmonary disease that causes obstructed airflow from the lungs.
Its symptoms include breathing difficulties, coughing, mucus production, and
wheezing. People with COPD are at increased risk of developing heart disease,
lung cancer, and several other health conditions.
The Chronic Obstructive Pulmonary Disease (COPD) market is
expected to show substantial growth over the forecast period. As per Market
Research Future (MRFR) analysis, the chronic
obstructive pulmonary disease (COPD) market was valued at
approximately USD 10.7 billion in 2018 and is projected to register 4.2% of
CAGR by 2025.
The key factor driving the growth of the global market for
chronic obstructive pulmonary disease (COPD) market is the growing prevalence
of the chronic obstructive pulmonary disease worldwide, which is expected to
fuel demand for chronic obstructive pulmonary disease (COPD) drugs. For example,
AS per WHO, Global Burden of Disease Study estimates a global prevalence of 251
million cases of COPD in 2016. It is estimated that COPD will become the
world's third leading cause of death by 2030.
Additionally, the rising geriatric population and increasing
customer understanding of the new and innovative treatment options also
complement market growth. Through research and development in this field to
develop more innovative COPD treatment solutions may also give numerous
opportunities for more market growth. However, restrictive government
regulations are expected to impede business growth.
Regionally, the global chronic obstructive pulmonary disease
(COPD) market is divided into North America, Europe, the Asia Pacific, Latin
America, and the Middle East and Africa. North America is projected to capture
a substantial share of the global market for chronic obstructive pulmonary
disease (COPD) in the forecast period due to the highly advanced healthcare
system and growing cases of chronic obstructive pulmonary disease (COPD) in the
Europe is projected to be second-largest in the global
market for chronic obstructive pulmonary disease (COPD) due to its
The Asia Pacific is projected to be the fastest-growing
regional market due to the high number of patients suffering from COPD and the
increasing prevalence of respiratory diseases.
The market for chronic obstructive pulmonary disease (COPD)
in the Middle East and Africa is projected to rise gradually due to the growth
of the healthcare infrastructure.
Abbott Laboratories (US), Almirall (Spain), Astellas Pharma
(Japan), AstraZeneca (UK), Boehringer Ingelheim (Germany), Circassia
Pharmaceuticals (UK), GlaxoSmithKline (UK), Novartis AG (Switzerland), Pfizer,
Inc. (US), and Teva Pharmaceutical Industries Ltd (Israel) are some of the
key players operating in the global chronic obstructive pulmonary disease
On regional basis, global refurbished medical devices market
is segmented into North America, Europe, Asia Pacific and Middle East and
Africa. North America commands the largest market for refurbished medical
devices. Huge number of patient population, increasing aging population and
cost containment issues related to healthcare budgets are the major reason for
the growth of refurbished medical devices market in North America. Europe as
the second largest market which is driven by increasing awareness about
refurbished medical devices and poor reimbursement policies for new medical
devices. Economic crises and low product cost has forced the people for
adoption of refurbished medical devices. Asia Pacific is the fastest growing
region for refurbished medical devices market. High cost of new medical devices
and presence of number of low budget hospitals has led to increase this market
in Asia Pacific region.