Anti-Asthmatics And COPD Drugs Market: Covid 19 Implications And Growth- By Type Of Therapy, By Drug Class, By End-Users | Global Forecast To 2030
LONDON, GREATER LONDON, UK, June 3, 2020 /EINPresswire.com/ — The unprecedented outbreak of coronavirus has caused a surge in demand for essential pharmaceutical drugs, some bronchodilators, and medical devices including anti-asthmatics and chronic obstructive pulmonary disease (COPD) drugs. With governments across the world advising people to stay indoors and practice social distancing, to reduce the spread of the pandemic, individuals are hoarding these medications. This has created a sudden rise in demand for anti-asthmatics and COPD drugs. Anti-asthmatics and COPD drug companies should closely monitor the situation and increase the supply of essential medicines and other medical devices for 3 to 6 months. Additionally, some anti-asthmatic and COPD drugs such as albuterol are being used in the treatment of COVID-19. In the wake of the pandemic, companies should focus on modifying their supply chain activities to maximize the output to keep up with the rising demand for these drugs.
The global anti-asthmatics and COPD drugs market will grow from $40,162 million in 2019 to around $47,176 million in 2023 at a compound annual growth rate (CAGR) of 4.1%.
People with asthma or COPD are at a greater risk of worsening complications from COVID-19. According to the Center for Disease Control and Prevention (CDC), people suffering from asthma are at higher risk of getting affected from COVID-19, because the illness can affect the respiratory tract which is the nose, throat, and lungs, and cause an asthma attack. Also, COVID-19 may lead to pneumonia and acute respiratory disease among people suffering with asthma. Increasing use of anti-asthmatics and COPD drugs in the treatment of COVID-19 is expected to drive the market in the near forecast period.
Coronavirus, which originated in the Wuhan province of China, later spread globally. Several anti-asthmatics and COPD drugs such as albuterol are being used in the treatment of COVID. With the medication for COVID-19 still in the research phase, doctors around the world are increasingly using anti-asthmatics to treat the symptoms of COVID-19. This is expected to increase the demand for anti-asthmatics in the near future, and thereby drive the market for anti-asthmatics and COPD drugs.
Companies in the anti-asthmatics and COPD drugs market are offering drugs for customized individual treatment for better treatment against asthma and COPD. Personalized medicine, also referred to as precision medicine, aims to provide medical care according to the patient’s individual characteristics, needs, preferences, and genetic makeup. Companies such as GSK, Teva Pharmaceuticals, and AstraZeneca have already invested in personalized medicine for respiratory issues such as asthma. For example, in 2018, Mount Sinai partnered with Sema4 and Sanofi for a five-year, multisite study aimed at advancing precision medicine therapies for asthma patients.
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Source: EIN Presswire