The Global Pulmonary Drugs Market, by Drug Class (Inhaled Corticosteroids, Long Acting Beta-2 Agonists, Antihistamines, Vasodilators, and Others), by Application (Asthma & COPD, Allergic Rhinitis, Pulmonary Arterial Hypertension, Cystic Fibrosis, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and e-Commerce), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 28,064.5 million in 2016 and is projected to exhibit a CAGR of 8.1% over the forecast period (2017 – 2025).
The pulmonary drugs market is expected to gain significant traction with patent expiry of branded drugs, which is expected to generate opportunities for the market players and robust number of drug candidates in the pipeline as a result of extensive R&D.
Increasing prevalence of respiratory diseases is expected to propel growth of the market Increasing prevalence of chronic obstructive pulmonary diseases and other respiratory diseases across the world is one of the leading causes of death and disability. Thus, the prevention, treatment, and control of these diseases is one of the top priorities for governments and players in the healthcare sector. According to the Forum of International Respiratory Societies, in 2016, around 65 million people were suffering from chronic obstructive pulmonary disease worldwide, leading to 3 million deaths. Moreover, around 334 million people suffered from asthma, which is the most common chronic respiratory condition among children as well as adults. A wide range of conditions are included within the ambit of pulmonary diseases that include pneumonia, allergic rhinitis, pulmonary hypertension, and others that are responsible for creating a giant economic burden on the healthcare sectors of most of nations. Pulmonary drugs are focused towards providing medications for all these types of diseases leading to expected market growth in near future. According to the World Health Organization, 2017, Chronic Obstructive Pulmonary Diseases (COPD) is responsible for about 5% of the total deaths worldwide in 2015. Furthermore, according to the Office of Disease Prevention and Health Promotion 2014, 25 million patients in the U.S. had asthma that led to an estimated annual expenditure for asthma turning around to US$ 20.7 billion. Thus, the constant rise in the number patients suffering with respiratory diseases are expected to surge the market growth over the forecast period.
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The major manufacturers are focused towards development of new and innovative products with extensive R&D on pulmonary drugs. For instance, in 2017, Sanofi SA completed the phase II clinical trials in April 2017 of new drug Dupilumab in association with Regeneron Pharmaceuticals. The drug is indicated for the treatment of uncontrolled asthma in children and is expected to complete its clinical trial studies in January, 2021. Moreover, in 2017, Circassia Pharmaceuticals completed Phase IV clinical trials of Tudorza with a collaborative agreement between Circassia and AstraZeneca Plc. for the treatment of COPD. The key players adopt the strategies of mergers, definitive agreements, and acquisitions to expand the respiratory drugs product portfolio, thereby increasing market share. For instance, in 2015, AstraZeneca Plc entered into a definitive agreement with Takeda Pharmaceutical Company Limited, under which AstraZeneca acquired the core respiratory business of Takeda to strengthen respiratory therapeutic portfolio. Furthermore, in 2016, Mylan N.V. acquired Meda Pharmaceuticals to enhance geographic reach with significant sales of products worldwide, in which China, South East Asia, and Middle East were the major regional targets for the company.
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