North American Respiratory Drug Market growth, Trends, Supply, Demand, Analysis & Forecast to 2025

North American respiratory drug market was $18.0 billion in 2018 and is anticipated to grow at a substantial rate of 7.6% during the forecast period. The major factors that are contributing significantly to the market growth include rising air pollution, growing geriatric population, and high healthcare expenditure. The US and Canada are the major economies of North America. The rising prevalence of chronic respiratory diseases, increasing geriatric population, and technological advancement are the major factors augmenting the growth of the respiratory drug market in North America. The US is the major market due to greater healthcare expenditure and a higher prevalence rate of respiratory diseases.

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The major players of the North American respiratory drug market include AstraZeneca PLC, GlaxoSmithKline PLC, Novartis AG, and Teva Pharmaceuticals Industries Ltd.

The North American respiratory drug market is segmented on the basis of route of administration, application, and end-user. Based on the route of administration, the market is classified into oral, injectable, and inhalable. Moreover, on the basis of application, the market has been classified into asthma and COPD diseases. The asthma disease application segment dominated the regional market in 2018 and is further estimated to follow the same trend over the forecast period. This is mainly due to the high prevalence of asthma in the economies of the region such as the US and Canada. According to the Centers for Disease Control and Prevention (CDC) 2017, there are around 26 million asthmatics in the US, among which, nearly 18.9 million are adults and 7.1 million are children. In addition, based on the end-user, homecare and hospitals and clinics have been analyzed.

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Furthermore, the market is characterized by the presence of several manufacturers that are developing and providing respiratory drug to cater to a wide range of customers within and outside the region. These players adopt various strategies to capitalize on market growth opportunities. Mergers and acquisitions, product launch, geographical expansion, partnerships, and collaborations are the majorly adopted strategies by the market players.

North American Respiratory Drug Market Segmentation

North American Respiratory Drug Market by Product

o Therapeutic Devices
o Diagnostic and Monitoring Devices
o Consumable and Accessories

North American Respiratory Drug Market by End-User

o Homecare
o Hospitals and Clinics

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