MarkWide Research

Sale!

Respiratory Drugs Market

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

1. Increased Demand for Respiratory Drugs
The market for respiratory medications is anticipated to expand at a CAGR of 4.8% from 2017 to 2022, reaching USD 46.8 billion. The rising incidence of respiratory disorders, the expanding elderly population, and the growing public awareness of the availability of cutting-edge therapies are the main drivers propelling the expansion of this market.

As people are exposed to more allergens and air pollution, the prevalence of respiratory disorders is increasing. The World Health Organization (WHO) reports that the prevalence of chronic obstructive pulmonary disease (COPD) is increasing at an alarming rate and that by 2030, COPD will likely overtake heart disease as the third biggest cause of death. The market for respiratory medications is anticipated to rise as COPD and other respiratory illnesses become more common.

Globally, the elderly population is expanding quickly. According to the WHO, there will be 2.1 billion people in the world who are 60 or older by 2050, up from 901 million in 2015. Chronic respiratory conditions like COPD, bronchitis, and asthma are more likely to affect the ageing population of seniors. This is anticipated to drive the market for respiratory medications upward.

Globally, people are becoming more aware that there are cutting-edge therapies for respiratory illnesses. The market for respiratory pharmaceuticals is anticipated to develop as a result of the launch of novel medications and therapies for the treatment of respiratory illnesses.

2. Challenges in the Respiratory Drug Market
The market for respiratory medications is anticipated to reach $79.9 billion by 2026, growing at a CAGR of 4.7% from 2016 to 2026. The rising incidence of respiratory disorders, the introduction of new products, and the rising need for biologics are the main market drivers. The industry does, however, encounter several difficulties that are anticipated to limit its expansion to some degree.

The market’s growing availability of generic medications poses the first obstacle. Drugs with generic names are often less expensive and thought to be just as effective. As a result, doctors are prescribing them more frequently, which is having an effect on the sales of branded respiratory medications.

The second difficulty is the pricing pressure being applied to respiratory medications. The exorbitant cost of pharmaceuticals has come under a lot of scrutiny recently, particularly in the US. As a result, drug makers are under pressure to either reduce their pricing or offer discounts, which has an effect on their profit margins.

Despite these obstacles, the market for respiratory pharmaceuticals is anticipated to expand at a healthy rate in the years to come, propelled by the rising incidence of respiratory illnesses, the introduction of new products, and the rising demand for biologics.

3. Key Trends in the Respiratory Drugs Market
Throughout the projected period, the market for respiratory medications is anticipated to expand at a CAGR of 5.5%. (2019-2024). The primary driver of the market’s expansion is the rising prevalence of respiratory conditions, including asthma and COPD. The World Health Organization (WHO) estimates that 64 million individuals worldwide have COPD and that there are around 235 million people who have asthma.

Another significant aspect fueling the market’s expansion is the rising prevalence of smoking. Around 1.1 billion people smoke tobacco worldwide, according to the WHO. Smoking increases the risk of developing a number of respiratory conditions, including lung cancer, COPD, and other respiratory infections.

Another significant aspect influencing the market’s expansion is the introduction of fresh, potent medications. For instance, the FDA authorised Xolair (omalizumab), a novel biologic medication, in September 2018 for the treatment of severe asthma in kids 12 years of age and older.

Increasing preference for biologic medications, rising demand for combination therapy, and increasing attention to the development of innovative pharmaceuticals are some of the significant market trends that have been noticed.

Due to their great efficacy and safety, biologic medicines are becoming more and more used in the treatment of respiratory illnesses. These medications, which are created from live cells, are used to treat a variety of respiratory conditions, including cystic fibrosis, COPD, and asthma.

Due to their effectiveness in the treatment of respiratory disorders, combination treatments are becoming more common. These treatments are used to treat a variety of respiratory conditions, including bronchitis, COPD, and asthma.

The creation of new medications for the treatment of respiratory illnesses is receiving more attention. Pharmaceutical companies are spending a lot of money on research and development to create fresh, powerful medications for the treatment of respiratory illnesses.

4. Impact of the Respiratory Drugs Market (COVID-19)
Global demand for respiratory medications has significantly increased as a result of the COVID-19 pandemic outbreak. Throughout the projected period, the market for respiratory medications is anticipated to expand at a CAGR of 5.5%. (2020–2025).

There are now much more people afflicted with respiratory illnesses like pneumonia, bronchitis, and others as a result of the COVID-19 pandemic. As a result, the need for respiratory medications has significantly increased on a global scale.

The rising prevalence of respiratory disorders, including asthma, COPD, and others, is anticipated to be a major driver of the global market for respiratory medications. The World Health Organization (WHO) reports that the number of people with asthma is rising globally, with an estimated 339 million people affected.

Another significant factor boosting the market for respiratory medications is the rising incidence of chronic obstructive pulmonary disease (COPD). By 2030, COPD, which currently ranks as the fourth-leading cause of mortality worldwide, is anticipated to claim the lives of about 3 million people yearly.

Another significant reason fueling the growth of the market for respiratory medications is the rising smoking prevalence in the world. The World Lung Foundation estimates that there are roughly 1.1 billion smokers worldwide.

Another significant element fueling the expansion of the market for respiratory pharmaceuticals is the rising level of government assistance for the creation of novel respiratory medications. For instance, Novartis AG’s investigational medicine, NVA237, for the treatment of pulmonary arterial hypertension, was given orphan drug designation by the U.S. FDA in September 2019.

Another significant driver propelling the expansion of the market for respiratory pharmaceuticals is the rising number of clinical trials for the development of new respiratory medications. For instance, the WHO reports that in 2019, there were approximately 2,872 clinical studies being done worldwide for the treatment of respiratory disorders.

Another significant element fueling the market’s expansion is the rising frequency of mergers and acquisitions among the industry’s leading competitors. A biopharmaceutical business called Array BioPharma Inc., which specialises in the creation of small molecules, was bought by Pfizer Inc. in May 2019.

5. Key Industry Developments in the Respiratory Drugs Market
The market for respiratory medications is anticipated to expand at a CAGR of about 6% from 2020 to 2025. The rising incidence of respiratory disorders is the main factor fueling this market’s expansion. Asthma is one of the most prevalent chronic respiratory disorders, with an estimated 334 million people worldwide suffering from it as of 2016. The other prevalent respiratory illnesses are tuberculosis, cystic fibrosis, and chronic obstructive pulmonary disease (COPD). Additionally, as the elderly are more prone to respiratory ailments, the expanding geriatric population is one of the key reasons boosting the growth of the respiratory medication market.

The market for respiratory medications is divided by regions, disease types, and drug types. The market is further divided based on drug type into bronchodilators, corticosteroids, antibiotics, and mucolytics. Since these medications are used to treat bronchospasm linked to chronic obstructive pulmonary disease (COPD) and asthma, the bronchodilators segment is predicted to grow at the greatest CAGR throughout the projected period. The respiratory medications market is divided into categories for asthma, COPD, cystic fibrosis, and tuberculosis based on the kind of disease. Due to the rising frequency of this ailment, the category for asthma is anticipated to increase at the highest CAGR throughout the forecast period.

The market for respiratory medications is divided geographically into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Due to the presence of significant players and the rising prevalence of respiratory disorders in this area, North America is anticipated to experience the greatest CAGR growth over the projection period among all of these.

GlaxoSmithKline plc, Pfizer Inc., F. Hoffmann-La Roche AG, AstraZeneca plc, and Merck & Co., Inc. are a few of the market’s top competitors for respiratory medications.

6. Summary of the Respiratory Drugs Market
The market for respiratory medications is anticipated to expand at a CAGR of 5.2% from 2019 to 2024. The prevalence of respiratory disorders is rising, the elderly population is expanding, and people are becoming more aware of the treatment choices available, which are the main factors driving the market.

Drug type, disease type, and geographic region are used to segment the market. The market is divided into categories for bronchodilators, anti-asthmatics, mucolytics, and corticosteroids based on the kind of medicine. The market is divided into categories for cystic fibrosis, COPD, and asthma.

During the projected period, the market in North America is anticipated to develop at the highest CAGR. This area has experienced rapid expansion, which is attributable to the rising incidence of respiratory disorders, expanding public awareness of available treatment choices, and the presence of numerous pharmaceutical and biotechnology firms in the area.

Why Choose MWR

Quality Research

Our goal is to provide high-quality data that stimulates growth and creates a win-win situations

Unlimited User Access 

We offer Corporate User license access on all our reports in which you can share the report with your entire team without any restrictions

Free Company Inclusion 

We give you an option to include 3-4 additional company players of your choice in our report without any extra charges

Post Sale Assistance

Unlimited post sales service with an account manager dedicated to making sure that all your needs are met

Covid-19 Impact Analysis

All our research report includes latest Covid-19 Impact and its analysis

Download Free Sample PDF

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 424 360 2221

24/7 Customer Support

Download Free Sample PDF