Research Nester released a report titled “Respiratory Drugs Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global respiratory drugs market in terms of market segmentation by drug, by formulation, by disease, by administration, by drug delivery, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Respiratory disorders mainly consist of ailments of the lungs such as asthma, chronic obstructive pulmonary disease (COPD), acute respiratory infections, chronic bronchitis and others. These respiratory illnesses can be caused by a number of factors, some of them consisting of genetics, environment, and occupation as well as ageing. The market for respiratory drugs is anticipated to grow at a CAGR of 6.0% over the forecast period, i.e., 2019-2027. Further, the market is predicted to attain a significant market value of about USD 25,500 million by the end of 2027. The market is segmented by drug, by formulation, by disease, by administration, by drug delivery, by distribution channel and by region. On the basis of segmentation by drug, the market for respiratory drugs is segmented into anti-asthmatics & COPD drugs, cough & cold preparations, pulmonary hypertension drugs and idiopathic pulmonary fibrosis drugs. Out of these, the segment for anti-asthmatics and COPD drugs is predicted to hold the leading share in the market and grow at the highest rate of 5.6% over the forecast period.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America region is anticipated to hold the largest share over the forecast period. This is predicted to be followed by the market in Asia Pacific region, which is further projected to grow at the highest growth rate over the forecast period. This can be attributed to the rising developments and increasing innovations in the healthcare industry in the Asia Pacific region which account for the development of a higher number of respiratory drugs as compared with other regions.
Rising Technological Advancements to Drive the Market Growth
The advancements in technology in the healthcare industry are resulting in development of improved drugs. This is anticipated to become a major growth factor for the respiratory drugs market. Moreover, the rising cases of lung disorders as a result of increased smoking among a large majority of the population as well as unhealthy lifestyles of the population globally are further estimated to result in market growth. However, the strict regulatory laws that are associated with the approval of respiratory drugs are estimated to become major growth restricting factors for the respiratory drugs market.
This report also provides the existing competitive scenario of some of the key players of the global respiratory drugs market which includes company profiling of AstraZeneca (LON: AZN), Fibrogen Inc., Novartis International AG (SWX: NOVN), Abbott Laboratories (NYSE: ABT), GlaxoSmithKline plc (LON: GSK), F. Hoffmann-la Roche AG (SWX: RO), Merck & Co. Inc. and Sunovion Pharmaceuticals Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global respiratory drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.