Pulmonary Drugs Market Forecast till 2025
Pulmonary drugs can treat wide range of conditions, which are included within the ambit of pulmonary diseases such as pneumonia, allergic rhinitis, pulmonary hypertension, and others. . Pulmonary drugs provide medications for all types of pulmonary diseases, which is expected to fuel market growth in near future. The World Health Organization (WHO) states that most respiratory diseases are preventable and can be treated with the help of appropriate medication. This has led to intensification of efforts for development of effective and efficient pulmonary drugs and medications. Some of the pulmonary drugs are administered with the help of devices called nebulizers or inhalers.
The global pulmonary drugs market was valued at US$ 28.1 billion in 2016 and is expected to witness a robust CAGR of 8.1% over the forecast period (2017 - 2025).
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Increasing tobacco smoking to augment market growth
Increasing incidence of Chronic Obstructive Pulmonary Disease (COPD) is directly proportional to the tobacco smoking and exposure. According to the World Health Organization (WHO) 2016, tobacco smoking is the primary cause of COPD leading to around 90% of COPD cases. The irreversible damages caused due to smoke leads to adoption of lifestyle adjustments and medical treatments that includes consumption of bronchodilators, inhaled glucocorticoids, inhaled steroids, and other pulmonary drugs to relieve the disease symptoms, thereby propelling demand for pulmonary drugs. Tobacco is major cause of death and illness across the world. The number of smokers is consistent globally and does not have a drop since a past few years. Smokers are highly susceptible to respiratory diseases such as COPD and asthma.
For instance, according to the Centers of Disease Control and Prevention (CDC) the average rate of smokers in 2012 was 1 in 5 people, which was reported to be constant in the Burden of Tobacco use in the U.S. released in 2015. North America dominates the global pulmonary drugs market, owing to the increasing prescriptions of Inhaled corticosteroids (ICS) and Long-acting beta-agonists (LABA) combinational products. According to Ontario Drug Policy Research Network, 2015, ICS+LABA combination products are the second-most commonly prescribed inhaled respiratory medications for all indications in Canada, with 1.1 million prescriptions dispensed in the fourth quarter of 2013, whereas, short-acting beta-agonists (e.g., salbutamol) are the most frequently prescribed inhaled respiratory medications in Canada with 1.8 million prescriptions dispensed in the same time period.
Supportive government and non-government initiatives to accelerate the market growth
The government and non-government initiatives help patients to fight the diseases by providing sufficient medical care and education regarding the benefits of preventive measures as well as appropriate medications to curb the life threatening diseases such as COPD. For instance, in 2016, according to the World Health Organization (WHO), more than 90% of deaths were reported due to COPD in low and middle-income economies. Thus, the WHO initiated Global Alliance against Chronic Respiratory Diseases (GARD) with a vision to provide required medical treatments to patients suffering from chronic respiratory diseases in low and middle income economies. This provision demands a significant quantity of medication that is expected to propel the pulmonary drugs market. Also, in 2015, the Bill and Melinda Gates Foundation granted a US$ 89 Mn funding to Novavax, to develop RSV F (Respiratory Syncytial Virus) Vaccine for pregnant women in low sourced countries as maternal immunization vaccine to protect respiratory infections in the children.
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Asia Pacific is expected to be the fastest growing region in the pulmonary drugs market, owing to the continuous marketing of new brands to consolidate and strengthen the sales of products by the manufacturers. For instance, in 2016, Lupin Limited and Novartis Healthcare Private Limited (NHPL) entered into a co-marketing agreement to promote Novartis’s Indacaterol / Glycopyrronium inhaler in India for treating COPD under the brand name of Loftair. The major players operating the global pulmonary drugs market include Sanofi SA, Meda Pharmaceuticals, Circassia Pharmaceuticals Plc., AstraZenca Plc., GlaxoSmithKline Plc., Mallinckrodt Pharmaceuticals Plc., Cheisi farmaceutici S.p.A., Zambon Company S.p.A., Alaxia SAS, and Merck Sharp & Dohme Limited.
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