Pulmonary Drugs Market (Drug Class - Inhaled Corticosteroids (ICS), Long-Acting Beta2-Agonists (LABA), Antihistamines, Vasodilators, Short-Acting Beta2-Agonists (SABA), Anticholinergics, Combination Drugs, MAbs, Enzymes, Antibiotics, and Antileukotrienes; Application - Asthma & COPD, Allergic Rhinitis, Pulmonary Arterial Hypertension, and Cystic Fibrosis; Distribution Channel - Hospital Pharmacies, Retail Pharmacies, Drug Stores, and E-commerce) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Global Pulmonary Drugs Market: Overview
Stiff competition prevails in the global market for pulmonary drugs, which are used to treat respiratory disorders. This has resulted in just a handful of dominant players in the market. In the foreseeable future, the big shot players are expected to trim their share further on account of the expiry of patents of blockbuster drugs. However, to overcome such setbacks, companies are expected to focus on building their pipelines to come up with more effective medicines.
Global Pulmonary Drugs Market: Key Trends
Increasing instances of chronic respiratory disorders are mainly serving to stoke growth in the global market for pulmonary drugs. The Forum of International Respiratory Societies (FIRS) finds that chronic obstructive pulmonary disease (COPD) has claimed around 200 million lives so far and asthma around 235 million. Such alarming figures are pointers to the fact why demand for pulmonary drugs has soared so far. Besides, increasing consumption of tobacco, which is also known to cause asthma in both active and passive smokers, is benefiting demand in the market.
Yet another factor majorly fuelling demand for pulmonary drugs are increasing purchasing power of people and the increasing knowledge about the methods to cure pulmonary health issues. Apart from that, growing allocations on research and development of pulmonary drug delivery systems to come up with more effective products and the growing unmet demands in the market is also serving to boost demand. Densely populated developing nations, particularly in the Asia Pacific, are majorly catalyzing demand.
Posing a challenge to the global market for pulmonary drugs, on the flipside, is the expiry of patents that is anticipated to deal a blow to the revenue. Further, stringent approval process of upcoming drugs by different authorities and cheaper counterfeit drugs inundating the market, is predicted to crimp growth in the market as well.
Global Pulmonary Drugs Market: Market Potential
The different types of pulmonary drugs sold in the market are vasodilators, beta2-agonists, long-acting beta2-agonists, combination drugs, antihistamines, and inhaled corticosteroids, and others including antileukotrienes, enzymes, antibiotics, and monoclonal antibodies. Combination drugs, among them, are poised to witness solid sales in the next couple of years. This is because the product is considered safe. Further, emergence of triple combination drugs will also propel sales of the product, thereby boosting the overall market. Inhaled corticosteroids are also projected to see healthy demand.
Global Pulmonary Drugs Market: Regional Outlook
The main geographic regions in the global market for pulmonary drugs studied in the report are Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific is expected to play a pivotal role because of its massive population and growing pool of middle class people who are driving up demand. North America and Europe also spell a lot of promise on account of their superior healthcare infrastructure and increased knowledge among its general public about cures involving pulmonary drugs.
Global Pulmonary Drugs Market: Competitive Dynamics
Some of the prominent participants in the global market for pulmonary drugs are Boehringer Ingelheim GmbH, Actelion Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Merck & Co., Inc, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Bayer AG, AstraZeneca plc, Novartis AG, and Sunovion Pharmaceuticals Inc. The report gathers information on their product offerings and sales and revenues. It also attempts to gauge the opportunities and pitfalls awaiting them by employing popular analytical tools.
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