Product Code: RP-ID-10324800 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10324800
Market Overview:
Impact analysis of COVID-19 on Respiratory Drugs Global Market Outlook 2027
Respiratory Drugs Market Analysis – 2019-2027
Respiratory disorders mainly consist of ailments affecting the lungs such as asthma, chronic obstructive pulmonary disease (COPD), acute respiratory infections, chronic bronchitis and several 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. Innovations in the healthcare industry are resulting in increasing research and development in the area of respiratory drugs. On the back of these factors, the market for respiratory drugs is anticipated to observe a significantly high growth in the next few years.
The market for respiratory drugs is segmented by drug, by formulation, by disease, by administration, by drug delivery, by distribution channel and by region. On the basis of disease, the market is segmented into asthma, chronic obstructive pulmonary disease, cystic fibrosis, pulmonary hypertension, allergic rhinitis, idiopathic pulmonary fibrosis and others. The segment for asthma is predicted to attain the largest market value of about USD 8,500 million by the end of 2027 and grow at the highest CAGR over the forecast period. A report by the Centers for Disease Control and Prevention (CDC) stated that 1 among every 13 people is estimated to suffer from asthma and adult women are more prone to this condition as compared to adult men. This can explain the growth of this segment in the coming years.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The largest market share was held by the market in North America, with a share of 40% in 2019. The market in this region is further estimated to continue holding the largest share over the forecast period. Moreover, this is closely followed by the market in Asia Pacific on the back of 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.
Some of the key industry leaders in the global respiratory drugs market are AstraZeneca, Fibrogen Inc., Novartis International AG, Abbott Laboratories, GlaxoSmithKline plc, F. Hoffmann-la Roche AG, Merck & Co. Inc. and Sunovion Pharmaceuticals Inc.
AstraZeneca, Fibrogen Inc., Novartis International AG, Abbott Laboratories, GlaxoSmithKline plc, F. Hoffmann-la Roche AG, Merck & Co. Inc. and Sunovion Pharmaceuticals Inc.
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