Pulmonary Drugs Market is Estimated to Witness High Growth Owing to Opportunity of Rising Prevalence of Respiratory Diseases

Pulmonary Drugs Market

 

Pulmonary drugs are medicines used to treat respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), pulmonary hypertension and other lung disorders. These drugs are available in various dosage forms such as tablets, capsules, syrups and inhalers. The rising incidence of respiratory diseases due to air pollution, smoking and lifestyle changes has increased the demand for effective pulmonary drugs. The global Pulmonary Drugs Market is estimated to be valued at US$ 52 Billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market Opportunity:
Rising prevalence of respiratory diseases is estimated to drive the growth of the Pulmonary Drugs Market during the forecast period. As per the World Health Organization (WHO), COPD is projected to become the third leading cause of death globally by 2030. Moreover, asthma currently affects approximately 339 million people worldwide. Growing geriatric population is also susceptible to develop age-related chronic respiratory illnesses. With limited therapeutic options available, the demand for novel pulmonary drugs for improved treatment of asthma, COPD and other lung disorders is increasing. This presents lucrative opportunities for players in the Pulmonary Drugs Market to develop more efficacious drug formulations to capture a larger market share.

Porter’s Analysis
Threat of new entrants: The pulmonary drugs market has high costs related to R&D, clinical trials, and regulatory approvals which make it difficult for new companies to enter the market.



Bargaining power of buyers: Individual buyers have low bargaining power due to specialized nature of drugs and lack of alternatives. However, large hospitals and pharmacy chains can negotiate on price and contracts.

Bargaining power of suppliers: A few large multinational companies dominate the supply market. Suppliers thus have significant influence over prices of raw materials and production costs.

Threat of new substitutes: Threat of substitutes is low as pulmonary diseases often require long-term treatment and alternatives provide limited benefits. However, alternative therapies continue to emerge.

Competitive rivalry: The market is consolidated with top players occupying major share. Fierce competition exists regarding new product innovation and portfolio expansion into other therapeutic areas.

SWOT Analysis
Strength: Strong product pipeline and R&D focus on pulmonary disorders. Large geographical presence and strong brand name.

Weakness: High dependence on few blockbuster drugs exposes companies to patent cliffs. Side effects of few drugs limits scope.

Opportunity: Rising pollution and sedentary lifestyle driving cases of respiratory illnesses. Emerging markets with large patient pool spur growth.

Threats: Price control regulations and drug cost containment measures impact profitability. Generic competition eats into sales of established off-patent drugs.

Key Takeaways

The Global Pulmonary Drugs Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. Growth will be fueled by increasing pollution levels, aging population, and lifestyle changes raising the risk of chronic respiratory disorders.

Regional analysis: North America dominates currently due to high healthcare spending and aggressive clinical research. However, Asia Pacific is poised to grow at the fastest pace due to improving access to healthcare and increasing smoking population in countries like China and India.

Key players: Key players operating in the pulmonary drugs market are GlaxoSmithKline, Boehringer Ingelheim, AstraZeneca, Novartis, Merck, Roche, Teva Pharmaceutical, and Sunovion Pharmaceuticals. GlaxoSmithKline dominates the inhaled corticosteroids segment while Boehringer Ingelheim leads the COPD drugs market.

For more details on the report, Read- https://www.ukwebwire.com/pulmonary-drugs-market-growth-demand-and-overview/

 

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