The emphysema market is estimated to be valued at USD 5.15 Bn in 2024 and is expected to reach USD 6.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. The majority of the market is concentrated in North America and Europe due to higher disease prevalence and access to advanced healthcare facilities in these regions.

Market Driver - Rising Smoking Rates and Air Pollution Contribute to a Higher Incidence of Emphysema Globally

As a market research analyst tracking the emphysema market, one aspect that is hard to ignore is the role of smoking and air pollution as key drivers of the rising emphysema cases globally. About 80-90% of COPD cases which include emphysema are caused due to cigarette smoking. With smoking rates unfortunately on the rise in developing nations with limited awareness programs, this remains a concerning public health issue.

While governments are working to curb smoking, changing social habits takes time. Our interactions with pulmonologists on the ground indicate the patient demographic is also getting younger which experts attribute to prolonged smoking starting at an early age and prolonged exposure to air pollution without adequate safety measures.

The global pollution levels have certainly worsened in the past few decades with heavy industrialization and increasing vehicular traffic in urban centers. The emerging economies lack stringent emission control standards and regular quality checks on older vehicles adding to the air quality concerns.

Pulmonary physicians note emphysema patients reporting worsening of symptoms on high pollution days. The air quality is a significant factor aggravating lung damage over time along with smoking. Unless resolved, this may well drive-up healthcare costs and burden the overall market.

Market Driver - Development of Novel Therapies and Medications Improves Patient Outcomes and Expands the Market

A major driver we have observed bolstering the emphysema market opportunity is the launch of newer treatment lines that offer improved efficacy and quality of life for patients. In the past decade however, biologics targeting specific inflammatory pathways and newer bronchodilators that provide round the clock symptom relief have transformed the treatment paradigm.

These novel drug therapies are enabling patients to better manage their lung function in the long run, reducing exacerbations, related hospitalizations and improving life expectancy compared to existing meds. The emerging pipeline also holds promise, with cell and gene therapies as well as 3D printed lungs being researched that may reverse or even cure emphysema in future. The market is seeing a shift towards biologics and speciality medications rather than short acting bronchodilators alone.

At the same time, technological advances are complementing drug innovations - we are noticing a rise in oxygen concentrators, portable nebulizers and airflow sensors that enhance medication delivery precision and help monitor patients remotely. The collective effect of these therapeutic and device additions is not only adding years to patients' lives but also improving overall quality which has a positive influence on market forces like adherence and repeat prescriptions over the long-term.

Market Challenge - Expensive Nature of Emphysema Treatments Limits Accessibility for Some Patients

One of the key challenges faced in the emphysema market is the expensive nature of treatment options available, which limits their accessibility for some patients. Emphysema disease treatment often requires expensive medications, therapies, and in some advanced cases, lung transplantation. While efficacy of these treatments has drastically improved patient outcomes and extended lifespans, the high costs associated with them pose affordability issues for many patients.

Treatment using inhaled bronchodilators and corticosteroids can range between $150 to $300 per month in the US. Newer biologic drugs like monoclonal antibodies targeting specific inflammatory pathways that are showing promising results in trials often have price tags upwards of $20,000 per year or more. Even routine care involving frequent doctor visits, diagnostic tests and oxygen therapy at home can amount to thousands of dollars annually for patients.

The financial burden is disproportionately higher for those without private health insurance or residing in countries with inadequate public healthcare coverage. High treatment expenses thus act as a barrier that prevents many patients from accessing optimal care and risk progression of their disease.

Market Opportunity - Large Patient Populations and Increasing Healthcare Expenditure in Developing Countries

There lies a major opportunity in the emphysema market presented by large patient populations and rising healthcare spending in developing regions. Emphysema prevalence is significantly high across developing Asian and Latin American countries due to risk factors like smoking, air pollution and lesser awareness. It is estimated that countries like China, India and Brazil account for over 50% of the global emphysema burden.

At the same time, healthcare expenditure in these nations has been growing at a rapid pace, driven by economic growth, expanding insurance coverage and shifting priorities towards non-communicable diseases. This allows for higher affordability and accessibility of newer emphysema therapies.

With improved diagnostic capabilities and acceptance of advanced treatments, the markets in developing economies are primed for substantial growth. Foreign companies have a large customer segment to target and can expect robust demand over the coming years.

Moreover, prices of drugs and devices will need to be made more affordable to these prices-sensitive markets through partnerships, technology transfers and manufacturing locally. By addressing the specific needs of developing world patients, companies stand to leverage this overlooked high potential opportunity area in emphysema therapeutics.

Emphysema is generally divided into three stages - mild, moderate and severe - based on the decline in lung function. In mild emphysema, short-acting bronchodilators like salbutamol (Ventolin) are usually prescribed on an as-needed basis to provide relief from symptoms.

As the disease progresses to moderate stage with further loss of lung capacity, prescribers typically recommend maintenance therapy with long-acting bronchodilators. Common choices include tiotropium (Spiriva), a long-acting muscarinic antagonist (LAMA), and long-acting beta-agonists (LABA) like formoterol (Foradil/Oxis). Their brand combinations like Spiolto Respimat and Dulera are also prescribed for enhanced duration of action.

For patients with severe emphysema, inhaled corticosteroids may be added to the above regimen for their anti-inflammatory effects. Fluticasone furoate/vilanterol (Breo Ellipta) is a popular ICS/LABA combination prescribed in this stage. If lung function continues to decline despite optimal medical therapy, pulmonary rehabilitation and eventually lung volume reduction surgery or lung transplant may be considered.

Other key factors influencing preferences include drug efficacy and safety profiles, comorbidities, insurance coverage, patient affordability and tolerability to the delivery device. Spirometry readings monitoring FEV1 levels also guide prescribers regarding disease progression and treatment modifications.

Emphysema is generally classified into three stages based on the severity of lung damage - mild, moderate, and severe.

In mild emphysema, lifestyle changes such as quitting smoking are recommended. Breathing exercises and drugs that relax airways (bronchodilators) such as albuterol are usually prescribed.

In moderate emphysema, inhaled corticosteroids may be added to reduce lung inflammation. Common brands used are Pulmicort and Asmanex. Leukotriene modifiers like Singulair and Accolate are also given to widen airways. Long-acting bronchodilators in the form of Spiriva and Striverdi are preferred over short-acting ones for their 24-hour coverage.

For severe emphysema, supplemental oxygen is needed. The standard treatment involves combining long-acting bronchodilators with inhaled corticosteroids in a single device known as dual bronchodilation. Brands like Anoro and Trelegy offering combinations of LAMA, LABA and ICS have proven more effective in controlling symptoms and reducing exacerbations compared to individual agents. They are preferred due to better compliance from a single inhaler.

Lung volume reduction surgery or lung transplant may be considered in selected non-smoking patients if above medications fail to provide relief from severe shortness of breath.

Focus on developing innovative therapeutic options:

Developing innovative therapies is one of the most important strategies adopted by leading players in the emphysema market. For example, GlaxoSmithKline plc launched a new inhaled therapy called Anoro Ellipta in 2015 for COPD, including emphysema. This was the first dual bronchodilator therapy approved for these conditions. Anoro Ellipta provided better lung function and fewer exacerbations compared to existing therapies.

Collaborations and acquisitions to expand product pipelines:

Companies strengthen their research capabilities and product portfolios through strategic collaborations and acquisitions. For example, in 2014, Pulmatrix Inc. collaborated with Cystic Fibrosis Foundation Therapeutics to develop inhaled formulations of anti-inflammatory and anti-infective drugs for respiratory diseases including emphysema. Similarly, in 2016, Boehringer Ingelheim acquired Fibrogen Inc. to gain access to its pipeline of treatments for fibrotic lung diseases such as idiopathic pulmonary fibrosis and emphysema.

Aggressive marketing initiatives and awareness campaigns:

Agile marketing is vital to maximize product adoption. For instance, when launching Spiriva in 2007 for COPD and emphysema, Boehringer Ingelheim invested heavily in direct-to-consumer advertising campaigns to educate patients. It also trained over 10,000 healthcare providers on the drug's benefits through publications and conferences.

Insights, By Treatment: Bronchodilators: Addressing the Core Issue

Bronchodilators are projected to contribute 41.5% share of the emphysema market in 2024, owing to their ability to directly tackle airway constriction. As the name suggests, bronchodilators work by dilating the bronchioles or smaller airways of the lungs. This helps improve airflow and relieve symptoms by making it easier to breathe.

Among bronchodilators, short-acting ones are prescribed on an as-needed basis to provide quick relief from breathlessness and wheezing during acute exacerbations. However, long-acting bronchodilators have emerged as a preferred long-term treatment option. They provide around-the-clock protection against bronchoconstriction and are more convenient to use compared to taking multiple short-acting doses throughout the day.

Newer long-acting bronchodilators also focus on prolonging the duration of action for over 12 hours with just a single daily dose. This drives higher compliance among patients. Moreover, combining bronchodilators with different mechanisms helps achieve better symptom control. The increased efficacy and convenience offered by long-acting bronchodilators is a key contributor to the large share of this segment.

Insights, By Distribution Channel: Hospital Pharmacies: Central to Clinical Management

Hospital pharmacies is estimated to account for 55.3% of market share in 2024. These are a leading distribution channel for emphysema medications owing to their pivotal role in initial diagnosis and treatment optimization. When symptoms first emerge, patients usually visit hospitals or pulmonologist clinics to undergo diagnostic testing.

Once diagnosed, starting medication often occurs under medical supervision during hospitalization. This is important to monitor response and address any adverse effects during initial dosage titration. Even after discharge, many patients continue receiving prescriptions from and consulting with doctors at hospital outpatient departments for ongoing management of their condition.

Moreover, advanced lines of treatment requiring specialized equipment and storage conditions, such as supplemental oxygen therapy, are also predominantly distributed through hospital pharmacies. This is due to the infrastructure and expertise available to properly handle such therapies.

The centralized role of hospitals in both diagnosis and long-term management of Emphysema makes their pharmacies integral to clinical guidance right from the start of the patient journey. This positions them as the critical early link between physicians and medications.

• Emphysema is a significant component of COPD, which is the third leading cause of death worldwide, according to the World Health Organization.
• Millions of individuals are affected globally, with higher prevalence noted in regions with elevated smoking rates and air pollution levels.
• The utilization of Alpha-1 Antitrypsin Augmentation Therapy has shown promise in treating patients with a genetic form of emphysema, slowing disease progression and improving lung function over time.

The major players operating in the emphysema market include Boehringer Ingelheim GmbH, AstraZeneca plc, GlaxoSmithKline plc, Novartis International AG, F. Hoffmann-La Roche Ltd, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals Inc., and Mylan N.V.

• In August 2023, United Therapeutics announced that it has launched Tyvaso® and Tyvaso DPI® (treprostinil), which are inhalation therapies primarily used to treat pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).
• In June 2021, Boehringer Ingelheim announced positive results from a Phase II clinical trial of a novel inhaled therapy, demonstrating improved lung function in emphysema patients. This development underscores the company's commitment to addressing unmet medical needs in respiratory diseases.
• In January 2021, GlaxoSmithKline initiated a clinical trial for a new combination therapy targeting chronic obstructive pulmonary disease (COPD), including emphysema. The study aims to evaluate the efficacy of the therapy in reducing exacerbations and improving patients' quality of life.

• By Treatment
  • Bronchodilators
    • Short-acting bronchodilators
    • Long-acting bronchodilators
  • Corticosteroids
    • Inhaled corticosteroids
    • Oral corticosteroids
  • Antibiotics
  • Vaccines
  • Supplemental Oxygen Therapy
• By Distribution Channel
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies