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Increasing Prevalence of COPD to Drive Growth of the Pulmonary Drugs Market

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Lucy Kart
Increasing Prevalence of COPD to Drive Growth of the Pulmonary Drugs Market

The global Pulmonary Drugs Market is estimated to be valued at US$ 3.41 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Pulmonary drugs are used to treat various respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, pulmonary hypertension, cystic fibrosis and others. Pulmonary drugs include bronchodilators, inhaled corticosteroids, antihistamines, immunotherapy, and various antibiotics. These drugs provide relief from symptoms like cough, wheezing, breathlessness and prevent exacerbations. The market is driven by the growing prevalence of respiratory disorders across the globe associated with changing lifestyle and increasing pollution levels.

Market key trends:

One of the key trends in the pulmonary drugs market is the rise in development of biologic therapies. Biologics such as monoclonal antibodies are being developed for treating respiratory disorders with less side effects compared to conventional drugs. For instance, biological therapies targeting IL-5, IL-4 and IL-13 are being developed for treatment of asthma and COPD. Another trend is the increasing adoption of combination therapies for management of respiratory diseases. Combination therapies using two or more drug classes such as corticosteroids with long acting beta agonists are proving more effective in controlling symptoms of asthma and COPD. This is expected to drive the demand for pulmonary drugs over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the pulmonary drugs market is low due to high capital requirements and stringent regulations imposed by regulatory bodies.

Bargaining power of buyers: The bargaining power of buyers is high owing to the availability of generic drug alternatives and presence of many established players offering pulmonary drugs.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the key raw materials used in pulmonary drugs such as active pharmaceutical ingredients are commodity chemicals with global availability from multiple suppliers.

Threat of new substitutes: The threat of new substitutes is moderate as new drug delivery devices and biologics pose a potential threat to conventional pulmonary drugs.

Competitive rivalry: High due to presence of many global and local players offering generics as well as branded drugs.

Key Takeaways

Global Pulmonary Drugs Market Size is expected to witness high growth, exhibiting CAGR of 8.1% over the forecast period, due to increasing prevalence of respiratory diseases such as asthma and COPD.

Regional analysis: North America accounted for the largest share of the pulmonary drugs market in 2023, followed by Europe. This is attributed to the rising geriatric population and increasing healthcare expenditure in the regions. Asia Pacific is expected to witness the fastest growth over the forecast period owing to growing patient population, improving healthcare infrastructure and rising awareness regarding respiratory disorders.

Key players operating in the Pulmonary Drugs market are Sanofi SA, Meda Pharmaceuticals, Circassia Pharmaceuticals Plc., AstraZenca Plc., GlaxoSmithKline Plc., Mallinckrodt Pharmaceuticals Plc., Cheisi farmaceutici S.p.A., Zambon Company S.p.A., Alaxia SAS, and Merck Sharp & Dohme Limited. Key players are focused on developing novel drug delivery devices and combinations to strengthen their market position. 


Read More- https://www.ukwebwire.com/pulmonary-drugs-market-outlook-share-and-demand-analysis/

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Lucy Kart
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