Market Research Future (MRFR) has published a “Global Respiratory Drugs Market”
MRFR recognizes the following companies as the key players in the global Respiratory Drugs market— VAPOTHERM, AptarGroup, Inc., Drägerwerk AG & CO., Allied Healthcare, Cardinal Health, NSPIRE HEALTH INC. oninklijke Philips N.V., and others
The global respiratory drugs market is accounted to register a CAGR of 6.30% during the forecast period and is estimated to reach USD 26.5 billion by 2032.
Sales of drugs to treat respiratory diseases and related services by organizations, lone traders, and partnerships make up the market for pharmaceuticals to treat respiratory problems such asthma, acute bronchitis, emphysema, cystic fibrosis, and other diseases. This sector of the economy includes companies that provide COPD and anti-asthmatic drugs to avoid acute attacks caused by respiratory disorders as well as cough and cold medications to treat cough and cold. Corticosteroids, Codral, Coldrex, and Lemsip are a few of the most well-liked drugs available today. Antimuscarinics are another.
The global market for respiratory medications is predicted to grow throughout the period of forecasting because to the growing geriatric population, expanding item advancement in respiratory disorders, and rising prevalence of respiratory ailments. The global respiratory medicine industry is unique due to the availability of biologics and biosimilars. The section on biologics and biosimilars offers promising therapeutic options for respiratory diseases. Biologics that particularly target stimulation pathways have also started to show potential as therapies for respiratory diseases.
The global Respiratory Drugs market has been segmented based Drug Class, Disease Type, Route of Administration, and Distribution Channel.
On the basis of Drug Class, the market is segmented into Short-Acting Beta2-Agonists (SABA), Long-Acting Beta2-Agonists (LABA), Inhaled Corticosteroids (ICS), Anticholinergics, Antihistamines, Vasodilators, Combination Drugs, Others. The Vasodilators segment was attributed to holding the largest market share in 2022.
Based on Disease Type, the global Respiratory Drugs market has been segmented into Asthma, Chronic Bronchitis, Chronic Obstructive Pulmonary Disease (COPD), Pleural Effusion, Others. The Chronic Obstructive Pulmonary Disease (COPD) segment was expected to hold the largest market share in 2022.
Based on Route of Administration, the global Respiratory Drugs market has been segmented into Inhalation, Enteral, and Parenteral. The Inhalation segment was expected to hold the largest market share in 2022.
Based on Distribution Channel, the global Respiratory Drugs market has been segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The Retail Pharmacies segment was expected to hold the largest market share in 2022.
The global Respiratory Drugs market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Respiratory Drugs market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Respiratory Drugs market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Respiratory Drugs market comprises of Middle East, Africa, and Latin America.
The largest market share for Respiratory Drugs was maintained by the North American regional sector. The increased frequency of respiratory illnesses is the main factor projected to fuel the market's overall growth over the forecast period.
Moreover, the Europe market has been persistently growing over the forecast period. 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.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. Rising R&D effort, the local presence of large pharmaceutical companies, and modern healthcare infrastructure are accelerating the discovery of novel drugs.
Furthermore, the rest of the world's Respiratory Drugs market is divided into the Middle East, Africa, and Latin America. The Latin America and MEA respiratory drugs market is a growing industry that is driven by the increasing prevalence of respiratory diseases in the region. Respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and pulmonary fibrosis are a major cause of morbidity and mortality in the region.
Key Findings of the Study