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The respiratory drugs market share is expected to increase by USD 26.95 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.96%.
This respiratory drug market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers respiratory drugs market segmentation by type (asthma, COPD, allergic rhinitis, cystic fibrosis, and other respiratory diseases) and geography (North America, Europe, Asia, and Rest of World (ROW)). The respiratory drugs market report also offers information on several market vendors, including Abbott Laboratories, AbbVie Inc., Aerogen Pharma Ltd., AstraZeneca Plc, Aurobindo Pharma Ltd., Boehringer Ingelheim International GmbH, Celon Pharma SA, Cipla Ltd., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Laboratory Corp. of America Holdings, Lupin Ltd., Medisol Lifescience Pvt. Ltd., Merck and Co. Inc., Novartis AG, Sumitomo Pharma Co. Ltd., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Inc., and Wellona Pharma among others.
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The need for sustainable and safe respiratory drugs is notably driving the respiratory drugs market growth, although factors such as the high cost of conducting clinical trials in respiratory disorders may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the respiratory drugs industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
One of the key factors driving the global respiratory drugs industry growth is the need for sustainable and safe respiratory drugs. Globally, respiratory diseases are the leading cause of death, with COPD as the third cause of death in western Europe and the fourth globally. Despite the presence of effective therapies, numerous patients globally live with poorly controlled respiratory diseases and have a low quality of life. Over the past 40 years, there have been a few new classes of drug therapy introduced for the treatment of respiratory diseases. Leukotriene receptor antagonists are a new class of drugs, but these drugs are not adequately effective in controlling asthma. Overall, drug innovation in respiratory medicine is a pressing issue and will drive respiratory drug market growth during the forecast period.
High cost of respiratory disease management is one of the key respiratory drugs market trends that is expected to impact the industry positively in the forecast period. Respiratory diseases are a huge burden globally in terms of direct health services costs and indirect costs related to prescribed drugs. The high cost of respiratory disease management has led organizations such as the Lung Foundation Australia to demand support and funding from the government to reduce the cost burden on patients. Moreover, the economic burden of respiratory diseases can be reduced with access to preventive care and early treatment. The British Lung Foundation and the British Thoracic Society opine that cost-effective approaches for the management of respiratory diseases are self-management and patient education. Such factors will further support the respiratory drug market in the coming years.
One of the key challenges to the global respiratory drugs industry growth is the high cost of conducting clinical trials in respiratory disorders. The incidence of disease in this class has increased rapidly in recent years. According to ClinicalTrials.gov, there are few clinical trial studies of respiratory diseases. There are around 88 active and recruiting Phase I study for asthma treatment and 39 studies for COPD. The cost associated with each phase of a clinical trial restricts the number of clinical trial studies. Approximately USD 115.3 million is spent for each phase of a clinical trial, which includes Phase I, II, III, and IV. Respiratory system studies ranked third in terms of cost spent per a study in clinical trials. Such factors may challenge the respiratory drug market growth in the forecast years.
This respiratory drugs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global respiratory drugs market as a part of the pharmaceutical market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the respiratory drugs market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the respiratory drugs market encompasses successful business strategies deployed by the key vendors. The respiratory drugs market is fragmented and the vendors are deploying growth strategies such as investment in R and D to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The respiratory drugs market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the respiratory drugs market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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50% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for respiratory drugs in North America. Market growth in this region will be faster than the growth of the market in Europe and ROW.
The presence of top players such as Genentech (Roche) and Merck and the recent launch of new disease-modifying therapies will facilitate the respiratory drugs market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
A rise in the number of COVID-19 cases in the first quarter of 2020 led to partial lockdowns in several countries, including Canada and Mexico. Thus, some scheduled treatments were either delayed or postponed, which thus declined the adoption of various drugs, such as respiratory drugs, and impacted market growth in 2020 and Q1 2021 to some extent. However, by January 2021, following the widespread COVID-19 vaccination drive, lockdown restrictions in various countries were somewhat relaxed, which led to the resumption of business activities. Thus, this is expected to increase the demand in the respiratory drugs market in North America during the forecast period.
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The respiratory drug market share growth in the asthma segment will be significant during the forecast period. The growth is attributed to the significant increase in the prevalence of asthma globally. Approximately 300 million people worldwide currently have asthma, and its prevalence increases by 50% every decade. Thus, leading vendors such as AstraZeneca and Novartis are expected to launch new drugs in the coming years to tap the huge market potential for asthma.
This report provides an accurate prediction of the contribution of all the segments to the growth of the respiratory drugs market size and actionable market insights on the post-COVID-19 impact on each segment.
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Respiratory Drugs Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.96% |
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Market growth 2022-2026 |
USD 26.95 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.15 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 50% |
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Key consumer countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Abbott Laboratories, AbbVie Inc., Aerogen Pharma Ltd., AstraZeneca Plc, Aurobindo Pharma Ltd., Boehringer Ingelheim International GmbH, Celon Pharma SA, Cipla Ltd., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Glenmark Pharmaceuticals Ltd., Laboratory Corp. of America Holdings, Lupin Ltd., Medisol Lifescience Pvt. Ltd., Merck and Co. Inc., Novartis AG, Sumitomo Pharma Co. Ltd., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Inc., and Wellona Pharma |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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