COPD Devices Market Key Companies and SWOT Analysis by 2030

[Research Report] The COPD devices market is expected to grow from US$ 8,849.16 million in 2022 to US$ 12,877.43 million by 2030; it is anticipated to record a CAGR of 4.8% from 2022 to 2030.

Market Insights and Analyst View:

COPD is a long-term condition that causes lung inflammation, damages lung tissue, and results in the narrowing of the airways, making breathing difficult. The COPD devices market size is expanding with the rising R&D activities to develop smart inhalers for the treatment of COPD, increasing number of COPD cases, and rising government support for the treatment of COPD. In addition, market players' availability of advanced products is further driving the market's growth. For instance, in June 2021, Glenmark Pharma launched Tiotropium Bromide Dry Powder Inhaler, used to treat COPD in the UK.  

Growth Drivers and Challenges:

COPD is a chronic lung disease that causes lung inflammation, leading to obstructive airflow from the lungs. Symptoms of COPD include breathing difficulty, mucus (sputum) production, cough, and wheezing. It is usually caused by long-term exposure to irritating gases or particulate matter, most often from cigarette smoke. People suffering from COPD are at an increased risk of developing lung cancer, heart disease, and a variety of other conditions. According to the American Lung Association, COPD is the leading cause of death in the US, and more than 12 million Americans were diagnosed with these diseases in 2022. Per the same source, ~8.5 million adults globally were diagnosed with COPD during 2019–2020. According to the World Health Organization (WHO), in 2021, COPD was the third prominent cause of death worldwide. The high mortality rate of COPD is due to acute exacerbations, which lead to the patients’ respiratory muscle failure, resulting in the loss of patient’s ability to breathe independently; as a result, the patients die from systemic infection and asphyxia. Further, as per the Burden of Obstructive Lung Disease (BOLD) report, in 2020, mortality due to COPD is projected to rise worldwide over the next 40 years, which is expected to reach ~5.4 million deaths annually by 2060. The increasing prevalence of COPD globally is fueling the growth of the COPD devices market.

COPD Devices Market: Strategic Insights

Report Segmentation and Scope:

The COPD devices market is segmented based on product type, age group, distribution channel, and geography. The COPD devices market, by type, is segmented into inhaler and nebulizer. The COPD devices market, by age group, is segmented into 20–40 years, 41–65 Years, 66–80 years, and 85+ years. The COPD devices market, by distribution channel, is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on geography, the COPD devices market is categorized into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Australia, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Segmental Analysis:

The COPD devices market, by product type, is bifurcated into inhalers and nebulizers. In 2022, the inhaler segment held a larger market share and is expected to record a higher CAGR during the forecast period. Metered dose inhalers (MDI) and dry powder inhalers (DPI) are two major types of inhalers used for treating COPD. Unlike other inhalers that provide a puff of medicine, these inhalers hold the medicine as a dry powder. The patient needs to breathe in quickly and deeply to get the medicine into the lungs. Dry powder inhalers are clinically appropriate and cost-effective alternatives. Metered dose inhalers (MDIs) are handheld pressurized inhaler systems that directly provide small, precise doses of medication to a patient's airways. MDI devices include a valve and actuator that facilitates a consistent delivery of a precise dose of medicine to the patient in particles of an exact size distribution delivered via a propellant. These inhalers require gas propellants with vapor pressures that can be liquefied at temperatures between 40 and 70 psi inside the canister. The fuels used in these MDIs for medication inhalation must be certified by the Food and Drug Administration. It should imply the current Good Manufacturing Practice (cGMP) inhalation grade with high purity levels. 

Regional Analysis:

Based on geography, the COPD devices market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America is the largest contributor to the global COPD devices market growth. Furthermore, Asia Pacific is projected to record the highest CAGR in the global COPD devices market during the forecast period. This market's future growth is likely to be attributed to the increasing prevalence of respiratory disorders. Also, chronic obstructive pulmonary disease (COPD) is a major health burden in the US. COPD is caused by obstruction of airflow from the lungs, which can lead to chronic inflammatory lung disease. Smoking is one of the primary causes of COPD in the US. The growing preference for smoking in the US is driving the growth of the COPD devices market. According to the Centers for Disease Control and Prevention (CDC), ~14.8 million adults in the US suffer from COPD.

Furthermore, per the Administration for Community Living, people aged 65 years and above in the US accounted to be 54.1 million, which contributes to 16% of the total population, and it is expected to reach 21.6% by 2040. Older adults are extremely susceptible to chronic respiratory diseases. Thus, a rise in the older population is also expected to boost the demand for respiratory inhalers during the forecast period. Moreover, favorable reimbursement policies are projected to create several opportunities for the growth of the COPD devices market in the region.

COPD Devices Market Players Density: Understanding Its Impact on Business Dynamics

The COPD Devices Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Industry Developments and Future Opportunities: 

Various plans by key players operating in the COPD devices market are listed below:

1. In April 2022, GlaxoSmithKline Pharmaceuticals Limited launched Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol) in India. It is the first single-inhaler triple therapy (SITT) for COPD patients in a once-daily regime. The product was also approved by the Drugs Controller General of India (DCGI) for consumption of Trelegy Ellipta as a maintenance treatment for preventing and relieving symptoms related to COPD in patients aged 18 and above.

Competitive Landscape and Key Companies:

A few of the prominent players operating in the COPD devices market are AstraZeneca PLC, Beximco Pharmaceuticals Ltd, Getinge AB, Boehringer Ingelheim, GSK Plc, Medtronic PLC, Nephron Pharmaceuticals, Novartis AG, Sunovion Pharmaceuticals Inc, and Teva Pharmaceuticals. These companies focus on geographic expansions and new product launches to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. Their global presence allows them to serve a large base of customers, subsequently facilitating market expansion.