Respiratory Drugs Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, Canada, China, UK - Size and Forecast 2024-2028

Respiratory Drugs Market Size 2024-2028

The Respiratory Drugs Market size is estimated to grow by USD 30.8 billion at a CAGR of 6.19% between 2023 and 2028. There is an increasing demand for sustainable and safe respiratory drugs across the world. One of the leading causes of death across the globe is respiratory disease with asthma being the most prevalent disease and affects people of all ages.  Even though there are numerous therapies, a majority of the population across the globe is living with poorly controlled respiratory diseases and have a low quality of life. As a result, there is an increase in investments in innovations around upper respiratory tract infection treatment globally, which is positively impacting the market. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018 to 2022, besides analyzing the current market scenario.

What will be the size of the Market During the Forecast Period?

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Market Segmentation by Distribution Channel, Type, and Geography Analysis

Type Analysis 

The Asthma segment is estimated to witness significant growth during the forecast period. The Respiratory Drugs Market encompasses a range of pharmaceutical offerings, primarily focused on combination drugs for various disease types, including asthma, chronic bronchitis, and pleural effusion. Asthma, a respiratory tract disease characterized by recurrent bronchoconstriction and airway inflammation, affects approximately 300 million people worldwide, with its incidence increasing by 50% every decade. Combination drugs, such as SYMBICORT, PULMICORT, Relvar Ellipta/Breo Ellipta, ARUNITY ELLIPTA, NUCALA, Seretide/Advair, and XOLAIR, are the major market players for asthma treatment. Inhalation, enteral, and parenteral are the primary administration routes for these drugs.

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The Asthma segment was the largest segment and was valued at USD 22.50 billion in 2018. Distribution channels for respiratory drugs include hospital pharmacies, retail pharmacies, and online pharmacies. Reimbursement policies significantly impact market growth, with asthma affecting approximately 5% of the global population and chronic bronchitis and tuberculosis adding to the burden of respiratory diseases. Despite these challenges, the market is expected to grow due to the increasing prevalence of respiratory diseases, including bronchitis, tuberculosis, and smoking-related conditions. However, the decelerating growth momentum is expected to be stabilized by ongoing developments in this segment. One of the major aspects of healthcare is accurate documentation such that several hospital pharmacies maintain records of the medications dispensed to each patient.  As a result, it helps in patient monitor treatment progress and ensures accountability.

COPD

Some of the prominent products launched by market players which are operating in this market include BEVESPI AEROSPHERE, DELIRESP/DAXAS, and SYMBICORT by AstraZeneca; Flixotide/FLOVENT, INCRUSE ELLIPTA, and RELVAR/BREO ELLIPTA by GlaxoSmithKline; and Onbrez Breezhaler and Seebri Breezhaler by Novartis. Factors such as the increasing presence of several drugs in the market, the approval of new drugs, including TRELEGY ELLIPTA and Duaklir Genuair, and the progress in the development of new drugs in respiratory medicine such as AZD9412 for COPD are expected to significantly contribute to the growth of this segment. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

Regional Analysis

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North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors that is significantly contributing to the growth of the US Bilevel Positive Airway Pressure (BiPAP) market is the aging demographic, which increases the prevalence of respiratory diseases. There is an increasing demand for more respiratory medications and healthcare services for the growing elderly population in the region, especially in the US and Canada. This demographic trend underscores the expanding market for BiPAP devices and related respiratory treatments, as healthcare providers and manufacturers focus on meeting the specific needs of aging patients with respiratory conditions. 

For instance, as per the American College of Allergy, Asthma and Immunology, as of 2023, 8.3% of Americans have asthma. 20.4 million of these 26.5 million are adults, and 6.1 million are kids. The prevalence of asthma is higher in children (9.4%) than in adults (7.7%), and it is higher in females (9.2%) than in males (7.0%). In addition,  poor air quality fuels the demand for effective respiratory drugs to manage symptoms and enhance patients' quality of life. Hence, such factors are expected to drive the market growth in the region during the forecast period.

Key Respiratory Drugs Market Companies 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Abbott Laboratories: The company offers respiratory drugs namely Pulmocare designed for people with chronic obstructive pulmonary disease, cystic fibrosis, or respiratory failure.

• 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
• 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.
• Wellona Pharma
• Glenmark Pharmaceuticals Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market witnesses a variety of formulation type, device type, and canister type catering to conditions like Chronic Obstructive Pulmonary Disease (COPD), asthma, and cystic fibrosis. Key pharmacological therapy such as leukotriene receptor antagonists and emerging drugs in respiratory medicine drive market growth. Inhalation devices like Metered Dose Inhalers (MDI), Dry Powder Inhalers (DPI), and Nebulizers dominate drug delivery. Distribution spans retail pharmacies, hospital pharmacies, and e-commerce, with increasing emphasis on home care settings. Market drivers include rising cases of common respiratory infections, the rising smoking population, and enhanced R&D spending. Advancements aim to meet consumer demands for safe, sustainable respiratory medications, particularly amidst concerns over indoor/outdoor air pollution and the aging population.

Key Market Drivers

One of the key factors driving the market growth is the rising prevalence of respiratory diseases. There is an increasing prevalence of respiratory diseases across the globe which has significantly contributed to the growth of the global market. The strong demand for innovative solutions that can improve disease management and enhance patients' quality of life is fuelled by conditions such as asthma and chronic obstructive pulmonary disease (COPD).

Moreover, respiratory diseases comprise a wide range of conditions impacting the lungs and airways, such as chronic obstructive pulmonary disease (COPD), asthma, pneumonia, bronchitis, and more. In addition, there is a high chance of respiratory diseases due to poor air quality, often due to environmental pollution, especially due to environmental pollution. Hence, such factors are expected to positively impact the market. Therefore, it is expected to drive the market growth during the forecast period.

Significant Market Trends

A key factor shaping the market growth is the emergence of telehealth and remote monitoring. There was an increasing adoption of telehealth services during the  COVID-19 pandemic which has revolutionized healthcare delivery. The main features of telehealth are that it facilitates remote consultations, diagnosis, treatment, and monitoring for respiratory patients, enhancing access to care.

Moreover, it also enables respiratory patients to consult pulmonologists and other specialists virtually. There is an increasing adoption of telehealth by healthcare providers to diagnose and assess respiratory conditions remotely, using video consultations, patient histories, and shared medical data. Hence, such factors are positively impacting the market which in turn will drive the market growth during the market forecasting period.

Major Market Challenges

Concerns associated with screening and diagnosis are one of the key challenges hindering market growth. There is an increasing prevalence of respiratory diseases, both acute and chronic which is significantly impacting the population across the globe even though there are significant advancements in understanding the complex pathophysiology of respiratory disease and the availability of medical therapies. One of the main reasons is the challenges related to screening and diagnosing respiratory diseases, such as pulmonary arterial hypertension (PAH). 

Moreover, due to the inaccurate diagnosis, it is highly unlikely the patient will receive appropriate treatment. One of the major challenges that must be overcome is the delayed diagnosis of PAH. The main factor which is leading to delayed diagnosis is the symptoms of PAH including fatigue, weakness, and breathlessness, which overlap with symptoms of other disorders such as COPD and asthma. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the market forecast period.

Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Distribution Channel Outlook
  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies
• Type Outlook
  • Asthma
  • COPD
  • Allergic rhinitis
  • Cystic fibrosis
  • Other respiratory diseases
• Geography Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Brazil

Market Analyst Overview

The Respiratory Drugs Market is influenced by various factors, including advancements in technology and the prevalence of respiratory disorders like asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis. This market encompasses a wide range of medications delivered through different devices such as Metered Dose Inhalers (MDI), Dry Powder Inhalers (DPI), and Nebulizers. Key drivers include the rise in the smoking population and increasing indoor and outdoor air pollution, contributing to respiratory ailments. Notably, digital/smart inhalers and novel medications are shaping the landscape of respiratory treatment. However, challenges such as regulatory issues and poor formulation stability persist. With growing investments in R&D and the introduction of innovative therapies, the respiratory drugs market continues to evolve to meet the needs of patients worldwide.

Plain and coated canisters play a pivotal role in pulmonary drug administration, catering to various respiratory conditions like Coated Canister and Chronic Obstructive Pulmonary Disease (COPD), Asthma, and Cystic Fibrosis. These canister types are distributed through diverse channels including retail pharmacies, hospital pharmacies, and e-commerce platforms. The global respiratory drugs market witnesses steady growth, driven by escalating cases of respiratory diseases and the increasing aging population. Sadly, respiratory illnesses contribute significantly to mortality worldwide, emphasizing the critical need for effective drug delivery systems. Western Europe emerges as a prominent market player, showcasing a strong demand for advanced pulmonary drug administration solutions to combat respiratory ailments effectively. 

The market encompasses various aspects, including different formulation types, device types, and canister types utilized in the treatment of respiratory disorders such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and cystic fibrosis. The market caters to diverse settings including hospitals, clinics, and home care settings, with distribution channels spanning retail pharmacies, hospital pharmacies, and e-commerce platforms. Key drivers of this market include rising incidences of respiratory infections, increased R&D spending, and the growing smoking population. However, challenges such as improper dosing reproducibility and high pricing pressures persist. With advancements in technology and innovative drug formulations, the respiratory drugs market continues to evolve, aiming to address the growing burden of respiratory diseases worldwide.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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