by Pulmonary drugs are medicines used for the treatment of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), pulmonary hypertension, and others. These drugs help in opening up air passages and reducing inflammation of airways to facilitate breathing. Growing incidence of respiratory diseases worldwide owing to pollution, smoking, and poor lifestyle habits is a key driver for the pulmonary drugs market.
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 increasing prevalence of chronic respiratory diseases like asthma and COPD has been a key driver boosting the growth of the pulmonary drugs market. As per a report by American Lung Association, around 25 million Americans currently have asthma while over 12 million Americans have COPD. The rising air pollution levels globally due to unchecked industrial emissions and increased usage of vehicles are major contributors to the growing incidence of respiratory diseases. This growing patient pool diagnosed with chronic respiratory conditions drives the demand for drugs used for treatment and management of these diseases, thereby accelerating the market growth of pulmonary drugs over the forecast period.
Segment Analysis
The global pulmonary drugs market is segmented into anti-inflammatory drugs, bronchodilators, antihistamines, monoclonal antibodies, and others. Among these, the bronchodilators segment accounted for the largest share of the market in 2023. Bronchodilators are primarily used in the treatment of asthma, chronic obstructive pulmonary disease (COPD), and other respiratory diseases. The dominance of this segment can be attributed to the increasing prevalence of respiratory diseases and the effectiveness of bronchodilators in providing quick relief from symptoms like wheezing, coughing, and breathlessness.
Key Takeaways
The Global Pulmonary Drugs Market Demand 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.
The pulmonary drugs market in North America currently dominates the global landscape owing to the rising prevalence of respiratory diseases and greater access to advanced treatment options in countries like the US and Canada. However, Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with China and India projected to lead the demand. This can be attributed to growth in pollution levels, rising cigarette smoking rates, growing awareness about respiratory illnesses, and increasing healthcare expenditure in developing Asian countries.
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. Sanofi SA and GlaxoSmithKline Plc. currently hold the largest shares in the global market owing to their diverse product portfolios and strong brand presence across key markets.
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Source: Coherent Market Insights, Public sources, Desk research
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