As in daily life, supply and demand determine the market in health economics. This, of course, also applies to COPD. The fact that the industry is growing by about 6 billion dollars indicates that the demand for therapies is increasing. But what is the reason for this and is it the only reason for the billion dollar business?
Chronic obstructive pulmonary disease is on the rise worldwide, mainly due to smoking and alcohol consumption. However, a change is becoming apparent, especially in developing and emerging countries. Here, too, educational campaigns are leading to the diseases receiving more attention - and being recognised and diagnosed more frequently.
Especially in the Asia-Pacific region, a large growth is expected. This is due to the growing health infrastructure and increasing industrialisation and westernisation of lifestyles.
The greater the amount of people that suffer from COPD, the higher the number of patients that may need want to receive treatment. Here, medications still take a lead in the demand. Oxygen treatments and operations are further down the list. The higher the demand for medicines - and the price will follow. Therefore, the entire market is increasing its size and value.
But not only that. The growing demand also leads to more money being invested in the research and development of new medication. This is also part of the industry. And the interest is high. After all, more money can be earned with a patented drug than with a generic. So not only patients benefit from the intense research, but also the pharmaceutical companies that develop the therapies.
However, the lion's share of market participation does not come from the industrialised and emerging countries, as might be assumed, but from North America specifically. Here, high health care costs and patents contribute significantly to market development. Research is also particularly active here, which contributes to the high cost share.
The COPD industry is growing continuously. More money for research means that more and more new medicines can be developed, which ultimately benefit patients. Overall, the prevalence of COPD is increasing, due to more awareness, but also thanks to better diagnostic procedures.