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| Pulmonary Drugs Market |
The pulmonary drugs market caters to pulmonary disorders such as asthma,
chronic obstructive pulmonary diseases (COPD) and tuberculosis that relate to
airways and other structural regions of the respiratory system. Some of the key
products in this market include drugs for asthma such as steroids, short-acting
beta-agonists, long-acting beta-agonists and others. Drugs for COPD include
bronchodilators, Xanthines, anti-cholinergics and corticosteroids. These drugs
provide relief from symptoms such as shortness of breath, coughing and
wheezing. The growing prevalence of respiratory diseases due to increasing
pollution levels, smoking, genetic factors and lifestyle changes is driving
significant demand for pulmonary drugs globally.
The Global
pulmonary drugs market is estimated to be valued at US$ 3.93 Bn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period
2024 to 2030.
Key Takeaways
Key players operating in the pulmonary drugs market are Wuxi AppTec, Inc.,
IQVIA Holdings, Inc., Syneos Health, Inc., Eurofins Scientific, Laboratory
Corporation of America Holdings (Labcorp), Icon PLC, ALCURA, Parexel
International Corporation, PPD, Inc. (Pharmaceutical Product Development), and
Charles River Laboratories International, Inc. These key players are focusing
on new product launches, strategic collaborations and acquisitions to
strengthen their market position. For instance, in 2022, PPD, Inc. acquired
Chiltern International Limited, a leading clinical research organization (CRO),
to expand its full-service clinical development capabilities globally.
The growing global burden of respiratory diseases and rising demand for
innovative drugs present significant opportunities in the pulmonary drugs
market. Companies are investing heavily in R&D to develop advanced
therapies and combination drug formulations. Moreover, increasing access to
healthcare in developing regions is expected to further aid the growth of the
market. Players are focusing on expanding in emerging markets in Asia Pacific,
Latin America, Middle East and Africa through collaborations with local pharmaceutical
firms and setting up manufacturing units.
Market Drivers
Increasing Pollution Levels - The primary driver behind the growth of the
pulmonary drugs market is the rising pollution levels globally. Factors such as
increased vehicular emissions, industrial pollution, dust and smoke have led to
growing cases of asthma and COPD. According to some reports, around 9 out of 10
people worldwide breathe air containing high levels of pollutants.
Market Restraints
High Cost of Drugs and Therapies - The high cost of patented pulmonary drugs
and therapies poses a major challenge for widespread adoption, especially in
developing regions. Moreover, the prices of these drugs often increase
annually, making long-term treatment plans difficult to sustain. This could
limit the revenues of drug manufacturers.
Segment Analysis
This market is dominated by Pulmonary
Drugs Market Demand pulmonary disease (COPD) sub segment, as
COPD is the third leading cause of death worldwide. Drugs like roflumilast and
aclidinium bromide for COPD treatment have the highest demand. Asthma drugs sub
segment is also significant as asthma prevalence has been increasing. Drugs
like mometasone, fluticasone propionate for asthma management register strong
sales.
Global Analysis
The North America region commands the largest share in this market due to
advanced healthcare infrastructure and growing prevalence of respiratory
diseases. Factors like rising elderly population, growing pollution and
increasing smoking rates drive the market growth in the region. Asia Pacific is
expected to witness the fastest growth during the forecast period owing to
rapidly developing economies, increasing healthcare spending and large patient
population suffering from COPD and asthma.
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