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Global Respiratory Drugs Market Size was valued at USD 15.6 Billion in 2022. The Respiratory Drugs market industry is projected to grow from USD 16.4 Billion in 2023 to USD 26.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2023 - 2032). A rise in the prevalence of respiratory conditions like COPD, asthma, and cystic fibrosis, as well as growing need for the administration of pulmonary drugs, are all significant reasons, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
One of the key factors propelling the global market for these drugs is the demand for safe and long-lasting respiratory treatments. Respiratory disease is the leading cause of death worldwide, with COPD coming in third in Western Europe and fourth overall. Despite the availability of effective medications, many patients struggle with poorly managed respiratory illnesses and low quality of life. In the past 40 years, a few novel types of pharmacological therapy have been developed to treat respiratory disorders. Leukotriene receptor antagonists are a brand-new family of drugs, however they don't do enough to lessen asthma symptoms. Overall, a significant problem that will drive market increase during the projection period is the demand for novel medications in respiratory medicine.
The prevalence of smoking worldwide, common respiratory infections, increased exposure to indoor and outdoor air pollution, and toxins from occupational dust are all contributing to the expected rise in the demand for innovative drugs to treat respiratory illnesses. Due to the availability of potent new medications, the market for respiratory medications is anticipated to expand throughout the forecast period. Over the course of the forecast period, it is anticipated that rising consumer adoption of novel pharmaceuticals for the treatment of a variety of respiratory disorders and increased R&D spending by the key players would drive the market for respiratory medicines. Additionally, it is predicted that during the forecast period, both the patient population and the demand for medications to treat respiratory disorders would rise.
The market is expanding as a result of the rising older population and the incidence of lung conditions. Pulmonary disorders continuously impact the lungs' airways and other parts. Respiratory problems are one of the most frequent causes of doctor and physician consultations in basic healthcare institutions. Some of the most common chronic respiratory disorders that can be avoided include asthma, chronic obstructive pulmonary disease (COPD), allergic rhinitis, sleep apnea, and tuberculosis (most commonly multi-drug resistant tuberculosis). According to the Asthma and Allergy Foundation of America, over 25 million Americans, or 1 in 13 persons, have asthma. Thus, driving the Respiratory Drugs market revenue.
The global Respiratory Drugs market segmentation, based on Disease Type, includes asthma, chronic bronchitis, chronic obstructive pulmonary disease (COPD), pleural effusion, and others. The chronic obstructive pulmonary disease (COPD) segment is predicted to grow at the highest rate due to the favorable reimbursement policies for the treatment of this disease and the high prevalence and mortality of this condition.
The global Respiratory Drugs market segmentation, based on Route of Administration, includes inhalation, enteral, and parenteral. The inhalation sub-segment retained a prominent position on the global market in 2022 and accounted for the largest market share due to growing patient demand for inhalers and similarly administered respiratory treatments.
The global Respiratory Drugs market segmentation, based on Drug Class, includes short-acting beta2-agonists (SABA), long-acting beta2-agonists (LABA), inhaled corticosteroids (ICS), anticholinergics, antihistamines, vasodilators, combination drugs, and others. This may be related to the fact that they are less expensive and more efficient than other drugs.
The global Respiratory Drugs market segmentation, based on Distribution Channel, includes Hospital pharmacies, retail pharmacies, and online pharmacies. In 2022, the retail pharmacy subsegment led the global market, and it is predicted that this will be true throughout the projection. This is due to the wide selection of drugs available at retail pharmacies.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By Region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. North America Respiratory Drugs market dominated the global Respiratory Drugs market in 2022 and accounted for largest market share. The increased frequency of respiratory illnesses is the main factor projected to fuel the market's overall growth over the forecast period. Additionally, the region's per capita health expenditure is increasing and is predicted to continue doing so over the course of the forecast period as a result of the drop in the unemployment rate. The number of COPD cases in the United States is predicted to increase as a result of increased smoking rates and an aging population. Further, In the North American area, the U.S. Respiratory Drugs market had the biggest market share, while the Canada Respiratory Drugs market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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During the projected period, a respectable growth rate is anticipated for the European market for respiratory medications. The growth in initiatives started by governmental and non-governmental groups is increasing overall revenue. Such actions are anticipated to increase asthma awareness, which will boost the usage of asthma drugs and promote verticle growth. Further, In the European region, the German Respiratory Drugs market had the biggest market share, and the U.K. Respiratory Drugs market had the quickest rate of growth.
Asia Pacific Respiratory Drugs market is projected to exhibit the fastest growth over the forecast period. The discovery of innovative medicines is being accelerated by rising R&D activity, the local presence of major pharmaceutical businesses, and sophisticated healthcare infrastructure. Further, In the Asia-Pacific region, the Indian Respiratory Drugs market had the quickest rate of growth while China's Respiratory Drugs market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Respiratory Drugs market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Respiratory Drugs sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Respiratory Drugs sector. Major players in the Respiratory Drugs market, including VAPOTHERM, AptarGroup, Inc., Drägerwerk AG & CO., Allied Healthcare, Cardinal Health, NSPIRE HEALTH INC. oninklijke Philips N.V., and others, are attempting to increase market demand by investing in research and development operations.
Niox Group Plc (Niox Group), formerly Circassia Group Plc (Circassia), is a medical device company that develops and manufactures drugs for the treatment of respiratory disorders like asthma. The business sells drugs like Niox, which is used to treat asthma. The company sells its goods to asthma specialists in the US, the UK, Sweden, Germany, China, and other countries through its network of partners. Oxford, England, in the United Kingdom, is home to The Niox Group. March 2019 with Circassia. The FDA has approved Tudoorza for the maintenance and treatment of obstructive pulmonary disease (COPD).
Theravance Biopharma Inc. (Theravance Biopharma) is a biopharmaceutical company with a focus on developing respiratory drugs. It also finds, develops, and sells organ-selective drugs for the treatment of inflammatory and immune-related diseases. The company is looking at treating illnesses like gastroparesis, asthma, neurogenic orthostatic hypotension (nOH), gastrointestinal motility issues, ulcerative colitis, heart failure, chronic kidney disease (CKD), and concurrent bacteremia through its pipeline candidates. Theravance Biopharma is a party to agreements with other pharmaceutical companies and holds financial interests in potential future payments to Innoviva, Inc. from Glaxo Group Limited or one of its affiliates. The company has subsidiaries in the US, Ireland, and the UK. Theravance Biopharma is based in San Francisco, California, in the United States. Theravance Biopharma and Mylan N.V. submitted a new drug application (NDA) to the FDA in November 2018 for YUPELRITM (revefenacin) inhalation solution for the maintenance treatment of persons with chronic obstructive pulmonary disease (COPD).
· VAPOTHERM
· AptarGroup, Inc.
· Drägerwerk AG & CO.
· Allied Healthcare
· Cardinal Health
· NSPIRE HEALTH INC.
· Koninklijke Philips N.V.
· others
April 2022: Penn Medicine has discovered a brand-new class of cells that are situated deep within the human lung and may play a significant role in lung diseases. The researchers looked at human lung tissue to discover the unique cells, which they called respiratory airway secretory cells (RASCs).
December 2021: AstraZeneca has a novel target for idiopathic pulmonary fibrosis (IPF) in their drug development pipeline that was found using BenevolentAI's technology. Notably, this is the second unique target identified through the cooperation that has been accepted, added to AstraZeneca's pipeline, and acknowledged. The relationship between BenevolentAI and AstraZeneca is now focused on finding potentially ground-breaking treatments for IPF and chronic kidney disease (CKD).
Respiratory Drugs Market Segmentation:
Respiratory Drugs: Drug Class Outlook
· Short-Acting Beta2-Agonists (SABA)
· Long-Acting Beta2-Agonists (LABA)
· Inhaled Corticosteroids (ICS)
· Anticholinergics
· Antihistamines
· Vasodilators
· Combination Drugs
· Others
Respiratory Drugs Disease Type Outlook
· Asthma
· Chronic Bronchitis
· Chronic Obstructive Pulmonary Disease (COPD)
· Pleural Effusion
· Others
Respiratory Drugs Route of Administration Outlook
· Inhalation
· Enteral
· Parenteral
Respiratory Drugs Distribution Channel Outlook
· Hospital Pharmacies
· Retail Pharmacies
· Online Pharmacies
Respiratory Drugs Regional Outlook
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- U.K
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 15.6 Billion |
|
Market Size 2023 |
USD 16.4 Billion |
|
Market Size 2032 |
USD 26.7 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.70% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Drug Class, Disease Type, Route of Administration, Distribution Channel, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
VAPOTHERM, AptarGroup, Inc., Drägerwerk AG & CO., Allied Healthcare, Cardinal Health, NSPIRE HEALTH INC. oninklijke Philips N.V., and others |
|
Key Market Opportunities |
Growing awareness and advancements |
|
Key Market Dynamics |
Increasing preference of pulmonary route of drug delivery, increasing technological developments in the form of smart/digital inhalers, and rising incidences of respiratory diseases such as COPD, asthma, and cystic fibrosis |
The global Respiratory Drugs Market was valued at USD 15.6 billion in 2022, and it is estimated to reach USD 26.7 billion by 2032.
The global market is projected to grow at a CAGR of 6.70% during the forecast period, 2023-2032
North America had the largest share in the global market
The key players in the market are VAPOTHERM, AptarGroup, Inc., Drägerwerk AG & CO., Allied Healthcare, Cardinal Health, NSPIRE HEALTH INC. oninklijke Philips N.V., and others.
The Combination Drug Class dominated the market in 2022.
The Chronic Obstructive Pulmonary Disease (COPD), Disease Type had the largest share in the global market.
Report Code :
RL6577
Published on :
Aug 2023
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