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Chronic Obstructive Pulmonary Disease Treatment Market to Touch US$ 25,059.1 Million by 2026, Says TMR
ALBANY, New York, May 13, 2019 /PRNewswire/ -- The increasing trend of air pollution and bronchitis cases are likely to provide opportunities for the global chronic obstructive pulmonary disease treatment. The global chronic obstructive pulmonary disease treatment market is projected to expand at 4.7% during 2018 to 2026. The global chronic obstructive pulmonary disease treatment market was estimated at worth US$16,623.9 bn in 2017.
In terms of geography, the global chronic obstructive pulmonary disease treatment market is expected to be dominated by the Asia Pacific during the forecast period. Growth in this region can be attributed to increasing aged population and increase in the number of smokers. The global chronic obstructive pulmonary disease market is segmented into combination, bronchodilators, corticosteroids, phosphodiesterase type 4 inhibitors, Mukokinectics, in terms of drug type. But, bronchodilators is anticipated to dominate the global chronic obstructive pulmonary disease treatment market.
Rising Occurrence of COPD Pushes Global Chronic Obstructive Pulmonary Disease Treatment Market
The global chronic obstructive pulmonary disease market is driven by a rise in the number of patients suffering from pulmonary disorder. This disease is not limited to any age group. So, the rising occurrence of such cases across all age group is expected to expand the global chronic obstructive pulmonary disease disorder. Rising environmental contamination shall encourage the chronic obstructive pulmonary disease treatment market. Additionally, the rising geriatric population across the globe is likely to broaden the global chronic obstructive pulmonary disease market. Increasing awareness about the disease is also expected to drive the market.
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Moreover, several initiatives by the government for early detection of the chronic obstructive pulmonary disorder and to facilitate improved medications is anticipated to drive the global chronic obstructive pulmonary market. Furthermore, research and development in the area of new therapeutic approaches are also predicted to act as a potent factor in boosting the global chronic obstructive pulmonary disease treatment market in upcoming years.
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Innovative Product Launches & Regulatory Approvals Augment Growth
Launch of new and innovative products like triple therapy drugs and combination drugs by stalwart companies such as Astra Zeneca is expected to boost the global chronic obstructive pulmonary disease treatment market in upcoming years. Also, approvals from regulatory authorities such as the European Commission, Food and Drug Administration, and others are likely to give a momentum to the global chronic obstructive pulmonary disease treatment market. Such approvals help in innovative therapeutic care for obstructive pulmonary disorder. Hospital pharmacies, retail pharmacies, and online pharmacies are expected to encourage the growth in the global chronic obstructive pulmonary disease treatment market.
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Availability of alternative treatment therapies, expiration of the patent, and availability of generic over the counter medicines are projected to restrict the global chronic obstructive pulmonary disease treatment. However, products like inhalers are likely to accelerate the growth of the global chronic obstructive pulmonary disease treatment market.
There are several players operating in the global chronic obstructive pulmonary disease treatment market. A few of these key players include Glaxo Smithkline Plc, Novartis AG, Astra Zeneca, Sunovion Pharmaceuticals, and Orion Corporation. Transparency Market Research (TMR) report further elaborates that the global chronic obstructive pulmonary disease treatment market is aggressively rival in nature. These prominent players are entering into collaborations, partnerships, mergers, and acquisitions to capture the global as well as regional market. They invest in research and development to obtain innovative products in terms of drugs and patient care.
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This review is based upon the TMR report titled, "Chronic Obstructive Pulmonary Disease Treatment Market (Drug Class: Combination, Bronchodilators, Corticosteroids, Phosphodiesterase Type 4 Inhibitors, Mucokinetics, and Others; Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 -2026."
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