Pulmonary drugs play a vital role in treating various respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), and others. Some of the commonly prescribed pulmonary drugs include bronchodilators, anti-inflammatory drugs, leukotriene modifiers, and others. Increasing prevalence of respiratory diseases is augmenting demand for pulmonary drugs.
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:
The growth of the pulmonary drugs market is majorly driven by increasing prevalence of respiratory diseases across the globe. According to the World Health Organization (WHO), currently 235 million people suffer from asthma worldwide, and it is one of the most common chronic diseases among children. Moreover, in 2019, around 3.2 million people died from chronic obstructive pulmonary disease (COPD). Rising risk factors such as smoking, exposure to air pollution and second-hand smoke are contributing to the high prevalence of respiratory diseases, thereby increasing demand for pulmonary drugs for treatment over the forecast period.
Segment Analysis
The global pulmonary drugs market is segmented by drug class, formulation, application, distribution channel and region. Based on drug class, the market is segmented into short acting beta2-agonists, anticholinergics, inhaled corticosteroids, antihistamines and others. Among these, the inhaled corticosteroids segment dominates the market as it is considered as first line of treatment for asthma. It provides long term asthma control and reduce risk of exacerbations.
Key Takeaways
The global Pulmonary Drugs Market Growth is expected to witness high growth during the forecast period of 2023-2030. 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 region holds the largest share in the pulmonary drugs market owing to increasing prevalence of respiratory diseases such as asthma and COPD, strong presence of key players and availability of advanced treatments. According to CDC, in 2020 around 26 million Americans suffered from asthma. Asia Pacific is expected to witness fastest growth during the forecast period due to growing pollution levels, increasing healthcare expenditure and improving access to healthcare facilities.
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.
For more insights, read- https://www.ukwebwire.com/pulmonary-drugs-market-trends-size-and-share-analysis/
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