Save 20% on All Global Market Reports With Code ONLINE20 – Gain Insights Into Tariffs, Inflation, and Industry Trends
How Will the Market Growth Rate of the Pulmonary Drugs Market Impact Future Demand?
The pulmonary drugs market size has grown steadily in recent years. It will grow from $54.28 billion in 2024 to $56.98 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to the rise in the prevalence of respiratory diseases, the increase in smoking rates, the growth in the geriatric population, the expansion of healthcare access, and the surge in pollution levels.
The pulmonary drugs market size is expected to see strong growth in the next few years. It will grow to $70.35 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to growing healthcare infrastructure, rising prevalence of cardiovascular disease, expanding homecare treatments, rising awareness about pulmonary diseases, and rising prevalence of asthma. Major trends in the forecast period include technological advancements, AI-driven drug discovery, smart inhaler adoption, nanotechnology-based formulations, and gene therapy developments.
Claim your free report sample now:
What Are the Major Factors Fueling Growth in the Pulmonary Drugs Market?
The increasing prevalence of respiratory diseases is expected to propel the growth of the pulmonary drugs market going forward. Respiratory disorders refer to medical conditions that affect the lungs and airways, impairing normal breathing and oxygen exchange. Respiratory disorders are increasing due to the growing prevalence of smoking, leading to lung damage and chronic diseases. Pulmonary drugs play a crucial role in managing respiratory disorders by improving lung function, reducing inflammation, and relieving airway obstruction for better breathing. For instance, in November 2023, according to the Bureau of Labor Statistics, a US-based government agency, the illness rate among private industry employers in 2022 increased to 45.2 cases per 10,000 FTE workers, up from 37.7 cases in 2021. This rise was mainly attributed to a higher occurrence of respiratory illnesses, which grew from 27.8 cases per 10,000 FTE workers in 2021 to 35.8 cases in 2022. Therefore, the rising respiratory diseases are driving the growth of the pulmonary drugs market.
What Are the Emerging Segments in the Pulmonary Drugs Market?
The pulmonary drugs market covered in this report is segmented –
1) By Drug Class: Inhaled Corticosteroids, Long Acting Beta-2 Agonists, Antihistamines, Vasodilators, Short Acting Beta-2 Agonists, Other Drug Classes
2) By Indication: Asthma, Chronic Obstructive Pulmonary Disease (COPD), Allergic Rhinitis, Pulmonary Arterial Hypertension, Cystic Fibrosis, Other Indications
3) By Distribution Channel: Retail Pharmacies, Online Pharmacies, Hospitals Pharmacies
Subsegments:
1) By Inhaled Corticosteroids: Beclomethasone, Budesonide, Fluticasone, Mometasone, Ciclesonide
2) By Long-Acting Beta-2 Agonists: Salmeterol, Formoterol, Indacaterol, Olodaterol, Vilanterol
3) By Antihistamines: Cetirizine, Loratadine, Fexofenadine, Diphenhydramine, Levocetirizine
4) By Vasodilators: Endothelin Receptor Antagonists, Phosphodiesterase-5 Inhibitors, Prostacyclin Analogues
5) By Short-Acting Beta-2 Agonists (SABA): Albuterol, Levalbuterol, Terbutaline, Fenoterol, Pirbuterol
6) By Other Drug Classes: Monoclonal Antibodies, Enzymes, Antibiotics, Antileukotrienes
Which Trends Are Expected to Redefine the Pulmonary Drugs Market Landscape?
Major companies operating in the pulmonary drugs market are focusing on developing innovative therapies, such as single-inhaler triple therapy (SITT), to enhance treatment efficacy, improve patient adherence, and simplify medication regimens for better disease management. Single-inhaler triple therapy (SITT) is a treatment that combines three different medications in a single inhaler to manage chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD) more effectively. For instance, in April 2022, GlaxoSmithKline Pharmaceuticals Limited, an India-based pharmaceutical company, launched Trelegy Ellipta, India's first single-inhaler triple therapy (SITT) for patients suffering from chronic obstructive pulmonary disease (COPD). This therapy combines fluticasone furoate, umeclidinium, and vilanterol to improve lung function and reduce symptom exacerbations. The innovative Ellipta inhaler ensures accurate dosing and enhances patient adherence compared to multiple-inhaler therapies. With over 100 million COPD patients in India, this launch aims to simplify treatment and improve patient outcomes.
Which Are the Key Companies Shaping the Pulmonary Drugs Market Landscape?
Major companies operating in the pulmonary drugs market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck Sharp & Dohme Limited, AbbVie Inc., Bayer AG, Sanofi S.A., AstraZeneca plc, Novartis AG, GlaxoSmithKline plc, Mylan N.V., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim International GmbH, Grifols S.A., Chiesi Farmaceutici S.p.A., Cipla Limited, Lupin Pharmaceuticals Inc., United Therapeutics Corporation, Mallinckrodt Pharmaceuticals plc, Glenmark Pharmaceuticals Limited, Circassia Pharmaceuticals plc
Get the full pulmonary drugs market report here:
What Are the Key Regional Trends in the Pulmonary Drugs Market?
North America was the largest region in the pulmonary drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pulmonary drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Contact Us:
The Business Research Company
Americas +1 310-496-7795
Asia +44 7882 955267 & +91 8897263534
Europe +44 7882 955267
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Comments
Post a Comment