Australia Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Analysis

Australia Chronic Obstructive Pulmonary Disease (COPD) Therapeutics Market Executive Summary

Australia's Chronic Obstructive Pulmonary Disease (COPD) therapeutics market was valued at $219 Mn in 2022 and is estimated to expand at a CAGR of 8.6% from 2022-30 and will reach $424 Mn in 2030. Emphysema, chronic bronchitis, and chronic asthma are included in the group of progressive lung diseases referred to collectively as chronic obstructive pulmonary disease (COPD). Breathing becomes challenging because of the constriction of the bronchial tubes in the lungs, also known as the bronchi or airways. Even though COPD is a chronic and (now) incurable condition, there are many things you can do to control it and improve your breathing with the correct diagnosis and care. With COPD, a person can live a long time and still have an excellent quality of life.

Men and women alike might suffer from COPD, a prevalent lung disease. In Australia, 1 in 13 people over 40 has some type of COPD2, although almost half of those who experience symptoms are unaware they have the disease. COPD is not a contagious disease, although Indigenous Australians are 2.5 times more likely to get it than Non-Indigenous Australians.

Market Dynamics

Market Growth Drivers

The prevalence of COPD is increasing in Australia, primarily due to factors such as the aging population and high smoking rates. According to a report by the Australian Institute of Health and Welfare, COPD was responsible for 6,690 deaths in 2019 and is the fifth leading cause of death in the country. This increasing prevalence of COPD is driving demand for therapeutics, which is expected to contribute to market growth. With increasing awareness about COPD and its risk factors, more patients are seeking treatment options to manage the disease. This is expected to drive demand for COPD therapeutics in Australia. According to a survey conducted by Lung Foundation Australia, 90% of Australians are aware of COPD, and 66% of those surveyed stated that they would seek treatment if they experienced symptoms of the disease. Technological advancements in COPD therapeutics have led to the development of new and effective treatments that offer improved outcomes for patients. For example, the introduction of combination therapies, which combine bronchodilators and inhaled corticosteroids, has been shown to be effective in managing symptoms of COPD. These advancements are expected to drive demand for COPD therapeutics in Australia.

Market Restraints

COPD is a chronic disease that requires ongoing treatment, which can be expensive for patients. The high cost of COPD therapeutics could be a barrier for patients who cannot afford the treatment, thereby limiting the market growth. While COPD therapeutics are effective in managing symptoms of the disease, there are alternative treatment options such as pulmonary rehabilitation and surgery that may be preferred by some patients. The availability of these alternative treatment options could limit the demand for COPD therapeutics in Australia. The COPD therapeutics market in Australia is heavily regulated, with strict requirements for drug approval and pricing. This can make it difficult for companies to introduce new products into the market, which could limit the market growth. While there is increasing awareness about COPD in Australia, some segments of the population may still be unaware of the disease and its treatment options. This lack of awareness could limit the demand for COPD therapeutics in these segments.

Competitive Landscape

Key Players

• AstraZeneca
• Boehringer Ingelheim
• GlaxoSmithKline
• Novartis AG
• Pfizer
• Teva Pharmaceutical Industries
• F. Hoffmann-La Roche
• Mylan N.V.
• Merck & Co
• Vectura Group

Healthcare Policies and Regulatory Landscape

The healthcare policy and regulatory framework in Australia play a critical role in shaping the COPD therapeutics market. The Australian government has implemented various policies and regulations to ensure that patients have access to safe and effective treatments for COPD. Some key policies and regulations that impact the COPD therapeutics market include:

Pharmaceutical Benefits Scheme (PBS) is a government-funded program that subsidizes the cost of prescription medications, including COPD therapeutics. This program helps to make COPD treatments more affordable for patients, thereby increasing demand for these treatments.

Therapeutic Goods Administration (TGA) is responsible for regulating therapeutic goods, including COPD therapeutics, in Australia. The TGA ensures that these products are safe and effective before they are approved for use in the country. This regulatory framework helps to ensure that patients have access to high-quality COPD treatments. The Australian government conducts health technology assessments (HTAs) to evaluate the safety, effectiveness, and cost-effectiveness of new and existing health technologies, including COPD therapeutics. HTAs help to inform policy decisions and ensure that patients have access to effective treatments.

Reimbursement Scenario

The reimbursement scenario for COPD therapeutics in Australia is primarily driven by the Pharmaceutical Benefits Scheme (PBS), which is a government-funded program that subsidizes the cost of prescription medications. The PBS provides reimbursement for COPD therapeutics that have been approved by the Therapeutic Goods Administration (TGA) and listed on the PBS. Under the PBS, patients are required to make a co-payment for their medications, while the government covers the remaining cost. The co-payment amount is determined by the government and is subject to change on an annual basis. In addition to the PBS, private health insurance may also provide coverage for COPD therapeutics. However, the extent of coverage may vary depending on the specific insurance plan.