Press release
Strong Growth Expected: Reversible Airway Diseases Treatment Market to Hit $110.28B by 2028 Growing at 7.7% CAGR
Reversible Airway Diseases Treatment Market Report
The reversible airway diseases treatment market size is expected to see strong growth in the next few years. It will grow to $110.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to aging population, increasing prevalence of chronic diseases, rising urbanization and air pollution, expanding access to healthcare. Major trends in the forecast period include digital health technologies, research and development of new treatments, early intervention and prevention, inhaler technology advancements.
Market Overview -
Reversible airway diseases are conditions characterized by temporary narrowing of the airways, often due to inflammation and constriction of the smooth muscles surrounding them. The goal of treatment for these conditions is to relieve symptoms such as cough and rash to improve lung function.
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Growing Chronic Respiratory Diseases Fuel Reversible Airway Disease Treatment Market
The growing number of chronic respiratory diseases is expected to propel the growth of the reversible airway disease treatment market going forward. Respiratory diseases are medical conditions that affect the respiratory system, which includes the lungs, bronchi, trachea, larynx, pharynx and nasal passages. Chronic respiratory disease testing and treatment allow for the early detection and diagnosis of respiratory conditions such as acute respiratory distress syndrome and help to prevent the progression by reducing the risk of complications. For instance, in February 2021, according to the data from the NCD Alliance, a Switzerland-based civil society organization, lung cancer is the leading cause of cancer death worldwide, with 2.2 million new cases and 1.8 million deaths. Furthermore, in September 2022, according to the data published by The Lancet, a UK-based book and periodic data publishing organization, 11,255 new cases of respiratory syncytial virus were recorded in 2021, which is 11.4% more compared to 9,972 cases in 2020. Therefore, the growing number of chronic respiratory diseases is expected to propel the growth of the reversible airway disease treatment market.
Competitive Landscape -
Major players in the reversible airway diseases treatment market are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A., GlaxoSmithKline PLC, Medtronic PLC, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Grifols SA, Sumitomo Dainippon Pharma Co. Ltd., Sun Pharmaceutical Industries Ltd., Drägerwerk AG & Co. KGaA, Dr. Reddy's Laboratories Ltd., Cipla Limited, Getinge AB, Hikma Pharmaceuticals PLC, Amneal Pharmaceuticals LLC, Lupin Limited, Fisher & Paykel Healthcare Corporation Limited.
Rising Emphasis On Inhalation-Based Drug Forms With Equivalent Versions In Respiratory Medication Delivery
Major companies operating in the reversible airway disease treatment market are focusing on inhalational dosage forms in respiratory drug delivery to sustain their position in the market. For instance, in June 2021, Glenmark Pharmaceuticals Ltd., an India-based pharmaceutical company, launched Dry Powder Inhaler (DPI) under the brand name Tiogiva in the UK, a bioequivalent version of Boehringer Ingelheim's Spiriva Handihaler. The product is used for treating chronic obstructive pulmonary disease (COPD), a long-term condition causing lung inflammation, damaged lung tissue and narrowing of the airways. The company plans to launch the product across Western Europe under the brand name Tiogiva in Ireland, Sweden, Finland, Norway, Tavulus in Denmark, Spain and the Netherlands.
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Key Segments -
The reversible airway diseases treatment market covered in this report is segmented -
1) By Treatment : Chest X Ray; Computed Tomography (CT) Scan; Lung Therapies; Surgery Transplant; Medications
2) By Diseases: Asthma; Chronic Bronchitis; Emphysema; Cystic Fibrosis; Bronchiolitis; Other Diseases
3) By End-Users: Hospitals; Specialty Clinics; Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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