Pulmonary medicine is the branch of medical science that deals with diagnosis, prevention, and treatment of diseases affecting the respiratory system. The conditions included are acute respiratory distress syndrome, sarcoidosis of the lungs, asthma, chronic obstructive pulmonary disease, lung cancer, occupational lung disease, pulmonary hypertension, tuberculosis, cystic fibrosis, interstitial lung disease, lung transplants, and severe acute respiratory syndrome. The intensity of competition in the respiratory drug market is high with few players dominating the market. The heavy investments made in the development of respiratory drug delivery systems have favored the growth of the market. The entry of innovative and effective drugs in the market is expected to drive the future of the market.
Short-Acting Beta2-Agonists (SABA), Inhaled corticosteroids (ICS), anticholinergics, long-acting beta2-agonists (LABA), antihistamines, vasodilators, combination drugs, and others are the major respiratory drugs classes available in the market. Currently, the combination drugs are mainly driving the market, with top brands facing no real competition from generic alternatives. The emergence of inexpensive, state-of-the-art and effective drug delivery devices will stimulate the market growth.
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The “Global Respiratory Drugs Market” is estimated to witness a CAGR of 5.9% during the forecast period 2018-2024. The respiratory drugs market is analyzed based on two segments – Applications and Regions.
The regions covered in the report are the North America, Europe, Asia Pacific, and Rest of the World (ROW). North America accounts for the largest share of the global respiratory drugs market, followed by Europe, Asia Pacific, and Rest of the World. More than 60% of the market is occupied by North America, with the US being the major contributor to the market growth.
Respiratory drugs find its applications in Asthma, COPD, Cystic Fibrosis, Allergic Rhinitis and Others. Asthma is a major market share holder currently. However, cystic fibrosis is anticipated to be the fastest growing segment in the market bacause of increased research & development and drug approval process related to it.
Novartis AG, GlaxoSmithKline plc, Astra Zeneca PLC., F. Hoffmann-La Roche Ltd, and Vertex Pharmaceuticals Inc are the key players in the market. Mylan, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Limited, Gilead Sciences, Inc, Bayer AG, Pfizer Inc., Bristol-Myers Squibb, Merck & Co., Sanofi, and Mallinckrodt plc are some of the other prominent respiratory drugs manufacturers in the market.
Business partnerships, merger & acquisitions and a multifaceted pipeline are the major strategies of the market players. In March 2017, AstraZeneca and SenzaGen collaborated to develop genomic methods for respiratory allergens. In December 2016, Novartis out-licensed its three COPD products Utibron Neohaler, Seebri Neohaler and Arcapta Neohaler to Sunovion Pharmaceuticals. In March 2017, Sanofi invested $147 million in AstraZeneca’s drug for preventing respiratory syncytial virus (RSV) infections. This gave equal share in costs and profits for both the companies.
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In 2017, GSK became the leader in the market accounting for 25.6% of the market revenue. Vertex Pharma is one the biggest companies in this domain with the fastest growth rate in recent years due to its novel portfolio for Cystic Fibrosis and potential molecules in the clinical pipeline.
The report provides complete details about the usage and adoption rate of respiratory drugs in various regions. With that, key stakeholders can find out about the major trends, drivers, investments, and vertical players’ initiatives. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives a detailed account of the key business opportunities to the prominent stakeholders to expand their businesses and capture the revenue in the specific verticals. It will help them to analyze the market before investing or expanding the business in this market.