Rise Of Chronic Respiratory Diseases Will Drive Pulmonary Drugs Market Growth

Pulmonary drugs are medications intended for treatment of respiratory diseases and disorders affecting the lungs. Increased prevalence of chronic respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), lung cancer, and cystic fibrosis have created massive demand for pulmonary drugs globally.

The global pulmonary drugs market is estimated to be valued at US$ 3.93 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period from 2024 to 2030.

Key players operating in the pulmonary drugs market are Wuxi AppTec, Inc., IQVIA Holdings, Inc., Syneos Health, Inc., Eurofins Scientific, Laboratory Corporation of America Holdings (Labcorp), Icon PLC, ALCURA, Parexel International Corporation, PPD, Inc. (Pharmaceutical Product Development), and Charles River Laboratories International, Inc. These players are engaged in research and development activities for novel pulmonary drugs and combination therapies to treat various respiratory illnesses effectively.

Increasing cases of COPD and asthma due to pollution, growing geriatric population susceptible to lung disorders, and rising awareness about therapies are some of the key factors augmenting demand in the pulmonary drugs industry. Availability of advanced pulmonary drugs for various complex respiratory conditions is also supporting industry expansion. However, high costs associated with drug development and regulatory approvals remain a significant challenge.

Key Takeaways

Key players operating in the pulmonary drugs market are increasingly investing in R&D for precision medicines. Therapies targeted at specific molecular pathways and gene mutations hold potential to enhance treatment outcomes. Wuxi AppTec recently developed a novel inhaled drug to treat inflammatory lung diseases.

Growing pollution levels globally have led to a surge in COPD and asthma cases. As per WHO, COPD is projected to be the third leading cause of death by 2030. This growing burden of respiratory illnesses will propel demand for pulmonary medicines.

Advent of technologies like 3D printing, AI, and big data analytics are helping researchers design personalized inhaled medications and test drug delivery methods efficiently. This is spurring development of more effective respiratory drugs.

Market Trends

Increased adoption of combination therapies- Using two or more drugs that work through different mechanisms is emerging as an effective treatment strategy. Combining existing drugs yields better results by providing complementary effects.

Focus on developing regenerative drugs- Companies are investing in developing therapies that can aid lung tissue regeneration. Regenerative pulmonary drugs hold promise to cure currently untreatable illnesses like pulmonary fibrosis.

Market Opportunities

Emerging economies in Asia Pacific and Latin America present lucrative opportunities owing to rapidly aging population susceptible to respiratory disorders in these regions.

Lung cancer drugs represent a huge market opportunity as this therapeutic segment is undergoing significant innovation in treatments and diagnostics. Development of novel targeted lung cancer medicines can attract investments.

Impact of COVID-19 on Pulmonary Drugs Market Growth
The COVID-19 pandemic has significantly impacted the growth of the pulmonary drugs market. During the initial months of the outbreak, sales of pulmonary drugs declined sharply as people avoided visiting hospitals and clinics due to fear of infection. This led to postponement of non-emergency procedures and decline in chronic disease management activities.However, as COVID-19 affects the respiratory system, demand for drugs treating symptoms like cough and difficulty in breathing increased substantially. Many pharmaceutical companies re-purposed their existing drugs or accelerated research & development of new treatment options. Governments and health authorities also promoted use of pulmonary drugs for relieving coronavirus induced respiratory problems.With resumption of economic activities and cautious approach towards non-COVID healthcare, sales of pulmonary drugs are recovering gradually. The pandemic has highlighted the critical role of respiratory care drugs. It is expected that in the coming years, demand for such medications will remain elevated compared to pre-COVID levels as a preparedness measure. Pharmaceutical firms are collaborating with research institutes for developing effective pulmonary treatments for viral infections. Telehealth and digital platforms are also being leveraged to ensure continuous supply and management of respiratory illness drugs during public health crises.

In terms of geographical concentration, North America accounts for the largest share of the pulmonary drugs market in terms of value. This is attributed to the presence of major pharmaceutical players in the US and Canada, high healthcare spending, growing respiratory disease burden and rapid adoption of novel therapies. The Asia Pacific region is projected to grow at the fastest pace during the forecast period. This can be ascribed to rising incomes, expansion of healthcare infrastructure, growing geriatric populace susceptible to respiratory illnesses and increasing focus of international companies on these emerging markets. Countries like China, Japan and India are expected to drive the market growth in Asia Pacific region.