by 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 Overview:
Pulmonary drugs are used to treat various respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), pulmonary hypertension, cystic fibrosis and others. These medicines help open up airways and make breathing easier. They are available in various forms like inhalers, nebulizers and oral tablets.
Market key trends:
One of the key trends in the pulmonary drugs market is the growing preference for generic drugs over branded drugs due to their cost effectiveness. According to the Centers for Medicare & Medicaid Services, generics account for nearly 90% of all prescriptions dispensed in the U.S. but only 27% of total drug spending. The increasing adoption of generic drugs is expected to continue over the forecast period thus driving the overall pulmonary drugs market growth. Moreover, the launch of novel fixed dose combinations in inhalers as well as new drug delivery devices is also expected to support the market growth during the forecast period.
Segment Analysis
The global pulmonary drugs market is segmented by drug class, indication, distribution channel, and route of administration. By drug class, the bronchodilators segment holds a dominant share in the market and is expected to continue its dominance over the forecast period. Bronchodilators help treat airflow obstruction and symptoms of chronic obstructive pulmonary disease (COPD) and asthma. Drugs like albuterol, ipratropium bromide, and salmeterol + fluticasone combination are widely prescribed bronchodilators that drive this segment’s growth.
Key Takeaways
Global Pulmonary Drugs Market Size is expected to witness high growth, exhibiting a CAGR of 8.1% over the forecast period, due to increasing prevalence of respiratory diseases. The global pulmonary drugs market size is expected to reach US$ 3.41 Bn by 2023.
North America dominates the global pulmonary drugs market currently and is expected to continue its domination over the forecast period. This is attributed to high awareness levels regarding pulmonary disorders, well-developed healthcare infrastructure and availability of reimbursement. Asia Pacific is expected to witness fastest growth owing to large patient population, growing economies, and increasing healthcare spending.
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 focusing on developing novel drugs targeting specific indications and moving towards personalized medicine approach.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
