by Pulmonary drugs are primarily used for treating respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), pneumonia, lung cancer and pulmonary hypertension. Asthma and COPD are the most common respiratory diseases worldwide affecting millions of people. Asthma is a chronic inflammatory disease characterized by swelling and inflammation of the airways in the lungs. Whereas COPD is a chronic inflammatory lung disease that causes obstructed airflow from the lungs. Pulmonary drugs such as inhaled corticosteroids, long-acting beta2-agonists, anticholinergics, theophylline, and antibiotics help in relieving symptoms, improving lung function, reducing inflammation and preventing exacerbations of respiratory diseases. The need for effective management of respiratory diseases is increasing globally due to rising environmental pollution, smoking habits, aging population and sedentary lifestyle.
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:
One of the key trends in the pulmonary drugs market is the substantial rise in the development of combination therapies. Combination therapies are designed to target multiple disease pathways simultaneously using two or more therapeutic agents. Combining drugs from different classes such as corticosteroids with long-acting beta2-agonists or antimuscarinic agents helps in improving efficacy and clinical outcomes. For instance, Breo Ellipta by GlaxoSmithKline is a once-daily combination of fluticasone furoate and vilanterol for COPD and asthma treatment. Similarly, Anoro Ellipta by GlaxoSmithKline is a once-daily combo of umeclidinium and vilanterol approved for COPD. Such combination therapies have gained immense popularity owing to their superior efficacy and ability to lower drug dosages thereby reducing adverse effects. This is expected to drive significant growth of the pulmonary drugs market.
Porter’s Analysis
Threat of new entrants: The pulmonary drugs market has moderate threat of new entrants as research and development requires huge capital investments.
Bargaining power of buyers: Buyers have moderate bargaining power in this market as there are numerous established players.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute components.
Threat of new substitutes: Threat of new substitutes is low as pulmonary drugs available are unique.
Competitive rivalry: The rivalry among existing players is high due to presence of global players.
Key Takeaways
The global Pulmonary Drugs Market Growth is expected to witness high growth. 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.
Regional analysis:
North America dominates the pulmonary drugs market owing to increasing prevalence of respiratory diseases and availability of advanced healthcare facilities in the US and Canada. Europe holds the second largest revenue share in the market.
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. Sanofi SA holds the largest market share in respiratory drugs followed by GlaxoSmithKline and AstraZeneca.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
