Pulmonary drugs refers to medicines used for the treatment of various respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and pulmonary hypertension. These drugs are administered through inhalations via metered-dose inhalers, dry powder inhalers, and nebulizers. The global pulmonary drugs market offers a wide range of medications including bronchodilators, anti-inflammatory drugs, monoclonal antibodies, antihistamines, and vaccines. Rising pollution levels have contributed to the increasing incidence of respiratory issues, driving the demand for pulmonary drugs.

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 Dynamics

As mentioned in the heading, the rising prevalence of respiratory diseases is a major driver contributing to the growth of the pulmonary drugs market. Air pollution has led to a significant rise in the number of patients suffering from asthma, COPD, and other lung disorders globally. According to the World Health Organization (WHO), around 65 million people suffer from moderate to severe COPD worldwide. Growing environmental pollution and changing lifestyle habits have increased the risk of respiratory infections and diseases. This rising global disease burden is increasing the demand for effective pulmonary drugs for treatment. Furthermore, technological advancements in pulmonary drug delivery systems such as smart inhalers and wearable nebulizers are facilitating improved drug administration and management of respiratory conditions. This is further promoting market growth over the forecast period.

SWOT Analysis

Strength: The pulmonary drugs market has a vast portfolio of drugs for the treatment of various respiratory diseases. The increasing prevalence of respiratory diseases such as asthma and COPD will drive the demand for drugs in this market. Brand drugs have well established efficacy and safety profiles. Continuous research and development has led to vast drug pipeline with novel mechanisms of actions.

Weakness: Development of novel drugs is a complex and capital intensive process which risks clinical failure. The drugs developed have risks of adverse effects and non-compliance from patients. Generics have made inroads into the market impacting revenues of major players.

Opportunity: Emerging economies offer huge untapped market potential due to large patient pools and increasing healthcare spending. Developing combination drugs can enhance compliance. Digitization and telehealth present opportunities for remote monitoring and care. Out licensing generic versions provides additional revenue streams.

Threats: Loss of exclusivity of major drugs poses revenue loss risks. Regulatory delays and hurdles increase the costs. The influencer of alternative treatments such as physiotherapy and exercise on respiratory conditions poses competitive threats. Price controls and government interventions impact revenues. Drug development faces challenges from respiratory pathogens evolving resistance.

Key Takeaways

The global Pulmonary Drugs Market Growth is expected to witness high growth. It is projected to reach a value of US$ 5.91 Bn by 2030 from US$ 3.41 Bn in 2023, expanding at a CAGR of 8.1% during the forecast period. Respiratory diseases impose a huge burden and increasing disease incidences will drive the market’s growth.

Regional analysis: North America currently dominates the market attributed to developed healthcare systems and higher disease prevalence. However, Asia Pacific is expected to be the fastest growing region on account of rising health awareness, lifestyle changes and improving access to healthcare in developing economies.

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. Major players are investing significantly in R&D to develop advanced therapeutics and focus on emerging markets for future growth opportunities.

For more insights, read- https://www.newsanalyticspro.com/pulmonary-drugs-market-trends-size-and-share-analysis/