Pulmonary Drugs Market is estimated to driven by increasing prevalence of respiratory diseases12/19/2023 The pulmonary drugs market comprises drugs used for the treatment of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and pulmonary hypertension. Pulmonary drugs help in expansion of the bronchial tubes by relaxing muscles around the airways and reducing inflammation. Some common pulmonary drugs include corticosteroids, short-acting beta2-agonists (SABAs), long-acting beta2-agonists (LABAs), leukotriene modifiers, theophylline, and inhaled corticosteroids. Increasing prevalence of respiratory diseases such as asthma and COPD is driving the demand for pulmonary drugs for effective treatment of symptoms.
The global Pulmonary Drugs Market is estimated to be valued at US$ 3.41 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Combination therapies have gained popularity in the treatment of pulmonary diseases in the recent years. Combining drugs from different classes helps in achieving better clinical outcomes than single drug therapy. For instance, combining inhaled corticosteroids with long-acting beta2-agonists is the standard of care for the treatment of moderate to severe persistent asthma. Similarly, combining long-acting muscarinic antagonists (LAMAs) with long-acting beta2-agonists (LABAs) is recommended for COPD treatment. Development of innovative drug delivery systems is another key trend witnessed in the pulmonary drugs market. Development of dry powder inhalers (DPIs), metered dose inhalers (MDIs), and nebulizers has improved drug delivery and ease of use for pulmonary drug therapy. Porter's Analysis Threat of new entrants: The pulmonary drugs market has high entry barriers such as high research and development costs and stringent regulatory approvals. This reduces the threat of new entrants. Bargaining power of buyers: There exists a large number of buyers for pulmonary drugs in the form of healthcare facilities, pharmacies, and patients. This increases their bargaining power. Bargaining power of suppliers: A few major companies dominate the supply side of raw materials, active ingredients, and finished drugs. This increases their bargaining power over buyers. Threat of new substitutes: Limited availability of substitute treatment options reduces the threat of substitutes. Competitive rivalry: The market is highly competitive with major brands constantly launching new and improved drugs. This intense competition leads to pricing pressure. Key Takeaways The Global Pulmonary Drugs Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from US$ 3.41 Bn in 2023 to US$ 6.16 Bn by 2030 registering a CAGR of 8.1%. Regional analysis: North America dominates the market owning to the high healthcare expenditure and presence of major market players in the region. However, Asia Pacific is expected to grow at the fastest pace due to rising pollution levels, smoking population, and improving access to healthcare in developing countries. Key players: Key players operating in the Pulmonary Drugs market are Sanofi SA, Meda Pharmaceuticals, Circassia Pharmaceuticals Plc., AstraZenca Plc., GlaxoSmithKline Plc., Mallinckrodt Pharmaceuticals Plc., Cheisi farmaceutici S.p.A., Zambon Company S.p.A., Alaxia SAS, and Merck Sharp & Dohme Limited. Get more insights on this topic: https://www.insightprobing.com/pulmonary-drugs-market-growth-market-size/
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