Surge in Demand for Anti-asthmatics and COPD Drugs due to Coronavirus, Reports TBRC
LONDON, April 28, 2020 /PRNewswire/ -- 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 are closely monitoring the situation and increasing supply of essential medicines and other medical devices for at least 3 to 6 months. Additionally, some anti-asthmatics and COPD drugs such as albuterol are being used in the treatment of COVID-19. In the wake of the pandemic, companies are focusing on modifying their supply chain activities to maximize the output to keep up with the rising demand for these drugs.
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Anti-Asthmatic And COPD Drugs Market Driven By COVID-19
The global anti-asthmatics and COPD drugs market will grow from $40,162.1 million in 2019 to $47,176.2 million in 2023 at a compound annual growth rate (CAGR) of 4.1%. 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.
Anti-Asthmatic And COPD Drugs Used In COVID-19 Treatment
Anti-asthmatics and COPD drugs that are being used in the treatment of corona virus include ciclesonide and albuterol inhalers. Ciclesonide is a drug that works as a steroid inhalant to suppress the immune system. This asthma drug appears to be effective and helps in reducing symptoms of coronavirus in patients who developed pneumonia. Albuterol inhaler is a drug that is used to treat asthma or certain types of COPD, and is being used in the treatment of COVID-19.
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Anti-Asthmatic And COPD Drugs Market Overview And Segments
The anti-asthmatics and COPD drugs market consists of sales of anti-asthmatics and COPD drugs by entities (organizations, sole traders and partnerships) that manufacture anti-asthmatics and COPD drugs which are used to prevent and treat asthma and chronic obstructive pulmonary disease (COPD). The anti-asthmatics and COPD drug industry includes establishments that manufacture anti-asthmatics and COPD drugs such as bronchodilators, anti-inflammatory drugs, monoclonal antibodies and combination drugs.
The anti-asthmatics and COPD drugs market is segmented by class into bronchodilators, anti-inflammatory drugs, monoclonal antibodies, and combination drugs. By therapy, the market is segmented into preventive and curative. By route of administration, it is segmented into oral, inhaled, intravenous, and subcutaneous.
Key Players In The Concentrated Anti-Asthmatic And COPD Drugs Market
The anti-asthmatics and COPD drugs market is consolidated, with a small number of large players in the market. This market concentration can be attributed to the high barriers to entry in the form of costs and regulatory challenges. GlaxoSmithKline plc was the largest competitor in the market. Other major players include AstraZeneca plc., Boehringer Ingelheim GmbH, F. Hoffmann-La Roche Ltd., Novartis AG, Sanofi S.A., Chiesi Farmaceutici S.p.A., Merck & Co., Inc., Teva Pharmaceutical Industries, and Sumitomo Dainippon Pharma Co., Ltd.
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