Global Respiratory Drug Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Significant Growth
- Himanshu Patni
- November 19, 2022
- Respiratory Drug Market, Respiratory Drug Market Growth, Respiratory Drug Market Share, Respiratory Drug Market Size, Respiratory Drug Market Trends
- 0 Comments
The global respiratory drug market is expected to grow significantly by 2027 expanding at a CAGR of around 5% during the forecast period (2021-2027F). Globally, respiratory diseases are the leading cause of death, with COPD as the third leading cause of death, globally. Therefore, to provide better treatment to the patient new respiratory drugs are launched on the market. Further, improving healthcare infrastructure is further fueling the market growth.
In the last couple of years, the dynamics of the respiratory drugs industry landscape have changed significantly. The change in the respiratory diseases drugs market growth trend is substantially due to the companies stabilizing their affair after feeding the demand that grew exponentially during the COVID- 19 epidemic in 2020. Companies in the respiratory drugs market are offering drugs for customized individual treatment for better treatment against respiratory diseases. The individualized drug, also appertained to as a perfection drug, aims to give medical care according to the case’s individual characteristics and inheritable makeup. Besides, precision therapies are increasingly being espoused in the respiratory drugs market as enterprises increasingly let go of the one- size- fits- all model for common respiratory diseases. Companies like GSK, Teva Pharmaceuticals, and AstraZeneca have formerly invested in individualized drugs for respiratory issues such as asthma. Further, PTC Therapeutics is developing a medicine, which aims to feed to a respiratory mutation that affects about 10% of the population.
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Based on the route of administration, the market is categorized into inhalation, enteral, and parental. Among these, inhalation is most commonly and widely used for asthma patients. The inhaled route offers a more rapid onset of action, allows smaller doses to be used, and has a better efficacy to safety ratio compared to systemic therapy. Furthermore, it is commonly used for chronic bronchitis disease. Since the number of cases is large for these kinds of diseases, therefore creates a high demand for inhalers
Based on the distributional channel, the market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, online pharmacies is likely to showcase substantial growth over the forecast period. This can be attributed to the rising digitalization that resulted in the creation of a large number of online pharmacies. Further, more a consumer perspective, patients find ease while purchasing the drugs via online channels compared to brick-and-mortar stores. In addition, increasing the government’s focus on the digital economy across the globe is attracting investors to provide financing to the new digital pharmacy startups.
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For a better understanding of the market dynamics of the respiratory drug market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, the United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of APAC) and Rest of World has been conducted. North America constitutes a major market for the respiratory drug market industry in 2020 owing to the presence of well-established market players in the region and frequent drug launches.
Abbott Laboratories, AbbVie Inc., Aerogen Pharma Ltd., AstraZeneca Plc, Aurobindo Pharma Ltd., Boehringer Ingelheim International GmbH, Celon Pharma S.A., Cipla Ltd., F. Hoffmann La Roche Ltd., and GlaxoSmithKline Plc. are some of the key players operating in the global respiratory drug market. Several M&As along with partnerships have been undertaken by these players to offer advanced drugs.
Global Respiratory drug Market Segmentation
MARKET INSIGHTS BY DRUG CLASS
- Short-Acting Beta2-Agonists (SABA)
- Long-Acting Beta2-Agonists (LABA)
- Inhaled Corticosteroids (ICS)
- Combination Drugs
MARKET INSIGHTS BY DISEASE TYPE
- Chronic Bronchitis
- Chronic Obstructive Pulmonary Disease (COPD)
- Pleural Effusion
MARKET INSIGHTS BY ROUTE OF ADMINISTRATION
MARKET INSIGHTS BY DISTRIBUTIONAL CHANNEL
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
MARKET INSIGHTS BY REGION
North America Respiratory Drug Market
- The United States
- Rest of North America
Europe Respiratory Drug Market
- The United Kingdom
- Rest of Europe
Asia Pacific Respiratory Drug Market
- South Korea
- Rest of Asia Pacific
Rest of World Respiratory Drug Market
Top Company Profiles
- Abbott Laboratories
- AbbVie Inc.
- Aerogen Pharma Ltd.
- AstraZeneca Plc
- Aurobindo Pharma Ltd.
- Boehringer Ingelheim International GmbH
- Celon Pharma S.A.
- Cipla Ltd.
- F. Hoffmann La Roche Ltd.
- GlaxoSmithKline Plc