This report on pulmonary drugs studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various pulmonary/respiratory drugs and/or drug-device combinations as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the global pulmonary drugs market with respect to the leading market segments based on major products, key applications, distribution channels, and geographies.
The global pulmonary drugs market has been exceptionally crucial to the overall healthcare industry over the past few years. According to the research report, the global pulmonary drugs market was worth US$ 48,039.7 mn in 2015 and is likely to reach a valuation of US$ 28,082.1 mn in 2024 as the market will decline at a CAGR of -6.3% during the forecast period of 2016 and 2024. Despite the negative growth rate, the market will find several growth opportunities as the number of chronic respiratory disorders remain on the rise and are fast becoming the cause of death amongst the elderly population.
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Combination Drugs Remain Favorite amongst Medical Professionals
On the basis of drug classes the global pulmonary drugs market is segmented into inhaled corticosteroids (ICS), long-acting beta2-agonists (LABA), antihistamines, vasodilators, short-acting beta2-agonists (SABA), anticholinergics, combination drugs, and others such as monoclonal antibodies, enzymes, antibiotics, antileukotrienes, etc. Out of these, the combination drugs and inhaled corticosteroids (ICS) held a share of 27.4% and 16.7% respectively in the global market in 2015 in terms of revenue. The demand for combination drugs is estimated to remain high as they are considered to be safer than the others. Furthermore, the introduction of triple combination drugs is also projected to fuel the rise of the global pulmonary drugs market during the forecast period.
Emergence of Middle-income Groups Catapults Demand of Pulmonary Drugs in Asia Pacific
In terms of geography, the global pulmonary drugs market is segmented into Latin America, the Middle East and Africa, Europe, North America, and Asia Pacific. According to analysts, North America held a share of 41.8% in the global market as of 2015. Europe was observed to follow the region’s lead with a significant share of 32.4% in the overall market. The rise of pulmonary drugs market in both these regions is attributable to the well-established health care infrastructure along with an incredible awareness about the treatment options for of pulmonary diseases.
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However, analysts anticipate that market in Europe and North America are likely to witness a retarded pace of growth due to patent cliffs in the offing. The U.S. has been making significant contributions to the overall pulmonary drugs market in North America, while Germany remains the steady leader in Europe. The report suggests that Asia Pacific will offer several lucrative opportunities to the global market with the rise of low and middle-income groups and the introduction of several generic pulmonary drugs.
Some of the key players operating in the global pulmonary drugs market are Sunovion Pharmaceuticals Inc., AstraZeneca plc, Novartis AG, Bayer AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc, Boehringer Ingelheim GmbH, and Actelion Pharmaceuticals, Inc.