The Pulmonary Drugs Market is Expected to be Flourished by the Increasing Prevalence of Respiratory Diseases

Pulmonary Drugs Market


 Pulmonary drugs are medications used to treat respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), pulmonary hypertension, and other lung conditions. Some common pulmonary drugs include corticosteroids, long-acting beta2 agonists (LABAs), long-acting muscarinic antagonists (LAMAs), leukotriene modifiers, theophylline, and antibiotics. These drugs are prescribed either as standalone therapies or as combinations in inhaled and oral formulations to provide quick relief from symptoms and prevent further lung damage. The global pulmonary drugs market witnesses high demand due to the rising incidence of respiratory illnesses associated with environmental pollution, smoking, and aging.

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 Dynamics:

The increasing prevalence of respiratory diseases is one of the major drivers of the pulmonary drugs market. According to the latest global burden of disease study, respiratory diseases accounted for over 4 million deaths in 2019. The rising air pollution levels and growing elderly population who are more susceptible to such conditions is contributing to the high disease prevalence. Furthermore, increasing tobacco consumption, especially in developing countries, is significantly raising the risk of COPD, lung cancer, and asthma exacerbation. All these factors are prompting more people to opt for pulmonary drug therapies for better symptom management and disease control. Additionally, a high level of R&D activities and continued pipeline of new and improved drugs offering enhanced treatment efficiencies are encouraging patients to comply with medication schedules. Manufacturers are also introducing novel drug delivery systems like dry powder inhalers and nebulizers for better localization and targeting of drugs to the airways. This wide array of treatment options with superior efficacy is helping expand the customer base for pulmonary medications over the forecast period.

Segment Analysis

The Global Pulmonary Drugs Market Demand is segmented based on disease indication, distribution channel, and drug class. Inhalers hold a dominant share owing to their effectiveness in delivering drugs directly to the lungs for better treatment of respiratory diseases. In terms of disease indication, the asthma segment accounts for the largest share as these drugs are the first line of treatment for asthma patients.

PEST Analysis

Political: regulations regarding drug approvals and pricing influence the market. Stringent regulations delay market entry of new drugs.

Economic: rising healthcare expenditure, increasing pollution and smoking rates are contributing to market growth. However, price controls impact revenues.

Social: growing prevalence of respiratory diseases due to aging population, changing lifestyles, and environmental pollution is a key driver. However, availability of alternative treatment options can hamper the market.

Technological: developments in drug delivery mechanisms, combination therapies, and targeted drug delivery to lungs offer opportunities. Digitization and artificial intelligence can aid in management of respiratory conditions.

Key Takeaways

The global pulmonary drugs market is expected to witness high growth owing to rising cases of respiratory diseases globally. 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.

North America accounted for the largest share in 2023 primarily due to presence of key players and higher healthcare spending in the region. However, Asia Pacific is anticipated to witness fastest growth during the forecast period supported by growing pollution levels, aging population, rising income levels and growing penetration of healthcare facilities.

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 leads the market with a diverse product portfolio covering various disease indications. GlaxoSmithKline Plc also has a strong product pipeline to strengthen its position in the market. The market players are focused on developing advanced combination therapies for better treatment outcomes.

Get more insights on this topic: https://www.pressreleasebulletin.com/pulmonary-drugs-market-share-analysis-trends/

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The increasing demand for adhesives and sealants is anticipated to open up the new avenue for Petroleum Resins Market

Image
Petroleum Resins Market  Market Overview: Petroleum resins are amorphous thermoplastic polymers made from petroleum-based feedstock materials, through either thermal or catalytic polymerization. They are mainly used for applications such as adhesives, inks, paints, rubber compounding, and others. Different types of petroleum resins include C5 resins, C9 resins, hydrogenated hydrocarbons (HHCs), and modified and specialized petroleum resins. Among applications, adhesives and sealants hold the largest share in the petroleum resins market owing to increasing use of petroleum resins in hot melt and pressure sensitive adhesives. Market Dynamics: The increasing demand for adhesives from packaging and construction industries is a major driver for the petroleum resins market. According to statsista, the global adhesive market was valued at over US$ 53.3 billion in 2020 and is projected to reach around US$ 78 billion by 2027, growing at a CAGR of over 5.7% during the forecast period. Pe...
Read more

Global Synthetic Biology Market Analysis: Size and Share

Image
Synthetic Biology Market  Synthetic biology encompasses the design, construction, and redesigning of biological parts, devices, and systems, either non-existent in nature or reengineered from existing biological systems. The market is experiencing significant growth, driven by the increasing demand for personalized medicine and healthcare. Applications of synthetic biology span pharmaceuticals, chemical production, agriculture, environmental protection, and renewable energy. Advancements in synthetic biology contribute to the rapid manufacturing of biotherapeutics, fostering the development of personalized medicine and more cost-effective healthcare solutions. The Synthetic Biology Market is projected to be valued at US$ 31,693.59 million in 2023, with an expected CAGR of 28% during the forecast period from 2023 to 2030, according to a newly published report by Coherent Market Insights. Key Market Trends: A prominent trend in the Global Synthetic Biology Market is the escalat...
Read more