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 (2021 - 2028).

Drivers

With the patent expiration of branded medications, the global pulmonary drugs market is projected to acquire considerable traction, resulting in possibilities for market participants and a large number of drug candidates in the pathway as a consequence of active R&D.

Increased incidence of respiratory illnesses is projected to drive the global pulmonary drugs market growth. Chronic obstructive pulmonary disease (COPD) and other respiratory diseases are one of the major causes of mortality and disability throughout the world. As a result, one of the major objectives for governments and healthcare actors is the protection, diagnosis, and management of chronic diseases. According to the Forum of International Respiratory Societies, chronic obstructive pulmonary disease (COPD) affected 65 million individuals globally in 2016, resulting in 3 million fatalities. Furthermore, asthma, the most prevalent chronic respiratory disease in both children and adults, affected about 334 million individuals. Pulmonary medicines are geared at treating all of these illnesses, resulting in surplus market growth in the coming years. Chronic Obstructive Pulmonary Diseases (COPD) accounted for nearly 5 percent of all fatalities globally in 2015, as per the World Health Organization.

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The main pharmaceutical companies are concentrating their efforts on developing new and creative medicines, with considerable research and development on pulmonary drugs. Sanofi SA, in collaboration with Regeneron Pharmaceuticals, completed phase II clinical studies of the novel medication Dupilumab in April 2017. The medication is intended for the treatment of untreated asthma in children, and clinical trials are anticipated to wrap up in January 2021. With a collaboration partnership between Circassia Pharmaceuticals and AstraZeneca Plc, Circassia Pharmaceuticals completed Phase IV clinical studies of Tudorza in 2017. COPD is treated using this drug. To grow the respiratory medicines product range and increase market share, the main companies use mergers, definitive agreements, and acquisitions as methods. In 2015, AstraZeneca Plc and Takeda Pharmaceutical Company Limited signed a formal agreement under which AstraZeneca purchased Takeda's main respiratory business in order to expand its respiratory treatment range.

Key Takeaways

Due to the large market opportunity and rising incidence of chronic respiratory illnesses in Asia Pacific, Latin America, the Middle East, and Africa, the global pulmonary drugs market is anticipated to grow at a CAGR of 8.1 percent during the forecast period.

The inhaled corticosteroids sector dominates the medication class due to the benefits provided by the medicines, which include a lower concentration of drug delivery into the patient's system, allowing for equal distribution, as well as a decreased risk of adverse effects associated with oral steroid intake.

Due to the growing prevalence of asthma and COPD globally, the asthma and COPD sector has a prominent position in the global pulmonary drugs market.

Key companies contributing in the global pulmonary drugs market are Mallinckrodt Pharmaceuticals Plc., AstraZenca Plc., Circassia Pharmaceuticals Plc., Meda Pharmaceuticals, Sanofi SA, Merck Sharp & Dohme Limited, Alaxia SAS, Zambon Company S.p.A., GlaxoSmithKline Plc., and Cheisi farmaceutici S.p.A.

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Pulmonary Drugs Market – Competitive Landscape

Key players functioning in the global prosthetic liners market consists of Sanofi SA, Meda Pharmaceuticals, Circassia Pharmaceuticals Plc., AstraZeneca Plc., GlaxoSmithKline Plc., Mallinckrodt Pharmaceuticals Plc., Cheisi Farmaceuticals S.p.A, Zambon Company S.p.A, Alaxia SAS, and Merck Sharp & Dohme Limited

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