Global Chronic Respiratory Diseases Treatment Market To Grow AT A CAGR Of 17.5% During The Forecast Period

The global chronic respiratory diseases treatment market size was worth around USD 143 billion in 2021 and is predicted to grow to around USD 300 billion by 2028 with a compound annual growth rate (CAGR) of roughly 17.5% between 2022 and 2028.

Chronic respiratory diseases (CRDs) entail medical conditions that continue for a longer duration as compared to other diseases and affect the airways or other parts of the lung. Some of the most common CRDs are lung cancer, asthma, cystic fibrosis, chronic obstructive pulmonary disorder (COPD), occupational lung diseases, and sleep apnea. These medical issues can affect children as well as adults. The top two reasons or risk factors associated with respiratory diseases are tobacco smoking which involves personal & secondhand smoking, and poor outdoor or indoor air quality. Asthma and COPD do not have a cure but regular medical attention can aid in reduction in symptoms improving daily life and preventing deterioration.

During asthma attacks which cause breathlessness due to narrowing of the airway, inhaling medicines called bronchodilators can assist in the opening of airways resulting in relieving symptoms. In case of lack of timely medical attention, the attack may even be fatal. Appropriate and regular use of inhaled corticosteroid medicine helps in controlling disease progression and reducing the number of subsequent deaths. Patients who have frequent symptoms or are more exposed to an environment that can trigger symptoms like grass, dust, smoke, fumes, etc. require long-term treatment. COPD confirmation requires a spirometry test and it can be treated with the help of physical and medical treatments.

Covid-19 had a positive impact on the global market size owing to increased severity amongst patients who had a history of chronic respiratory diseases along with Covid-19 infection. The healthcare sector was under tremendous pressure while dealing with patients whose lungs were severely damaged due to both of these medical conditions combined.

The global chronic respiratory diseases treatment market growth is expected to be propelled by the rising number of medical cases with related disorders owing to increasing smoking trends along with the deterioration of air quality. Based on reports filed in 2017, more than 90% of the world population is exposed to poor quality air. As per World Health Organization, there are over 7 million premature deaths occurring due to air pollution. A key component of the increase in air pollution is the rise in mining activities for global urbanization and infrastructural development. In the Fiscal Year 2021, India reported more than 1200 mining activities. The poor the air quality, the more the chances of the general population suffering from respiratory disorders. All of these factors are expected to aid the regional market cap to grow during the projection period.

The absence of medical plans to completely treat CDRs may restrain global market expansion. However, the advancement in customized drugs is expected to provide lucrative growth opportunities in the global market. Nonetheless, the patent expiration may cause challenges in global market cap expansion.

The global chronic respiratory diseases treatment market is segmented based on the mode of purchase, drug classification, distribution channel, type, and region

By mode of purchase, over-the-counter drugs, and prescription-based drugs are the two main segments. Since respiratory disease treatment medication can have severe side effects, their sale is generally propelled by prescription-based drugs. Prescription-based drugs generate revenues in USD trillions whereas OTC drugs generate revenues in USD billions.

By drug classification, the global market segments are generic drugs and branded drugs. Both the drug types are claimed to be effective in treating the virus since the underlying active ingredient is the same, and both forms of the drug have to undergo the same Food and Drug Administration approval process. However, as per FDA, generic drugs cost 80 to 85% less than their branded counterparts.

By distribution channel, the global market segments are retail pharmacies, hospital pharmacies, and drug stores. The global market was dominated by hospital pharmacies in the last few years. Since hospital pharmacies generate 30 to 40% of the total hospital revenue, patients are encouraged to purchase from them.

By type, the global market segments are cough & cold preparations, anti-asthmatics, and COPD drugs. The growing number of asthmatic patients has propelled the growth of the anti-asthmatics segments. As per the Asthma & Allergy Foundation of America, over 25 million of the US population suffer from asthma which is the equivalent of 1 in every 13 citizens.

The global chronic respiratory diseases treatment market is expected to be dominated by North America owing to the rising trend of smoking and other lifestyle choices that may impact the respiratory systems of the general population. The increasing number of the geriatric population who are more prone to CRDs may also affect regional growth. In 2019, the number of people over 65 years of age in the USA were over 54 million which represented around 16% of the total population. This is also coupled with the rising number of smokers in the region. From 2019 to 2020, in a span of 1 year, the USA cigarette market grew by USD 100 billion. The revenue in 2019 was USD 203 Billion whereas, in 2020, it was USD 204 billion.

Asia-Pacific may also register higher growth owing to the rising pharmaceutical sector and the subsequent number of market players. The region registered a revenue of over USD 270 billion in 2021 and is expected to grow further thus propelling regional growth.

The global chronic respiratory diseases treatment market is led by players like AstraZeneca plc, Merck & Co., Inc., Boehringer Ingelheim Pharmaceuticals, Inc, GlaxoSmithKline plc, Sumitomo Dainippon Pharma Co., Ltd, Teva Pharmaceutical Ltd., and Mylan N.V.

Recent Developments:

• In October 2020, Glenmark Pharma launched a pulmonary fibrosis treatment drug for the Indian market. The product was launched in the generic version of Nintedanib which is used for the treatment of pulmonary fibrosis. The product launch aims at patients in India with a cost-effective treatment plan while enabling doctors to enhance their customer reach and database.
• In June 2022, Glenmark Pharma launched the first novel fixed-dose combination (FDC) drug called Indamet designed for asthma patients. The brand name Indamet encompasses Indacaterol + Mometasone FDC and will be available in 3 strengths. The fixed-dose will be indacaterol 150 mcg and the variable doses may be from mometasone 80 mcg, 160 mcg, and 320 mcg.

Browse the full “Global Chronic Respiratory Diseases Treatment Market By Drug Classification (Generic Drugs and Branded Drugs), By Type (Cough & Cold Preparations, Anti-Asthmatics, and COPD Drugs), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Drug Stores), By Mode Of Purchase (Over-The-Counter Drugs and Prescription-Based Drugs), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/chronic-respiratory-diseases-treatment-market

The global chronic respiratory diseases treatment market is segmented as follows:

By Drug Classification

•  Generic Drugs
•  Branded Drugs

By Type

• Cough & Cold Preparations
• Anti-Asthmatics
• COPD Drugs

By Distribution Channel

• Retail Pharmacies
• Hospital Pharmacies
• Drug Stores

By Mode of Purchase

• Over-The-Counter Drugs
• Prescription-Based Drugs

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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