Respiratory Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030

Respiratory Drugs Market By Drug Class (Bronchodilators, Corticosteroids, Short-Acting Beta2-Agonists, Long-Acting Beta2-Agonists, And Anticholinergics), Disease (Chronic Obstructive Pulmonary Disorder (COPD), Asthma, Lung Cancer, Allergic Rhinitis, And Others), Route Of Administration (Inhalation, Oral, Intravenous, And Others), End-User (Hospital Pharmacies, Retail Pharmacies, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the increasing prevalence of respiratory disorders around the globe and growing awareness regarding respiratory diseases leading to an increase in diagnosis and treatment.

The respiratory drugs market is estimated to grow at a CAGR of 5.87% during the forecast period from 2024 to 2030. The demand for respiratory drugs is primarily being boosted by the increasing prevalence of respiratory disorders around the globe. Additionally, increasing air pollution and exposure to allergens and growing awareness regarding respiratory diseases leading to an increase in diagnosis and treatment are some of the key factors, which are contributing to the growth of the respiratory drugs market during the forecast period from 2024 to 2030.

Respiratory Drugs Market Dynamics:

According to the data provided by the World Health Organization 2023, around 262 million people are suffering from asthma, globally. Additionally, as per the Asthma and Allergy Foundation of America 2023, more than 27 million people in the United States suffer from asthma, which is equal to 1 in 12 people.

Further, as per the data provided by GLOBOCAN 2022, it was estimated that around 2,480,675 people were suffering from lung, bronchus, and trachea cancer in the year 2022, globally. As more people suffer from respiratory conditions, there is a greater need for the management and treatment of such respiratory disorders. Thus, the growing prevalence of respiratory disorders will drive the market for respiratory drugs during the forecast years.

Additionally, another driver for the respiratory drugs market is increasing air pollution and exposure to allergens, which are contributing to the growing prevalence of respiratory disorders. Exposure to outdoor air pollutants such as particulate matter (PM), nitrogen dioxide (NO2), sulfur dioxide (SO2), and ozone (O3) is a major risk factor for respiratory diseases like asthma, chronic obstructive pulmonary disease (COPD), and lung cancer. Additionally, exposure to dust, chemicals, fumes, and other hazardous substances in workplaces, such as in construction, mining, and manufacturing industries, increases the risk of developing respiratory diseases. For instance, according to the Air Quality Life Index (AQLI) data maintained and updated by the Energy Policy Institute at the University of Chicago (EPIC) in 2021, India ranks second amongst 252 countries across the globe in terms of air pollution. Thus, increasing air pollution and exposure to allergens in countries like India, China, and others are likely to drive the growth of the respiratory drugs market during the forecast period.

However, stringent regulatory approvals and the introduction of generic competitors are some of the key constraints that may limit the growth of the respiratory drugs market.

Respiratory Drugs Market Segment Analysis:

Respiratory Drugs market by Drug Class (Bronchodilators, Corticosteroids, Short-acting beta2-agonists, Long-acting beta2-agonists, and Anticholinergics), Disease (Chronic Obstructive Pulmonary Disorder (COPD), Asthma, Lung Cancer, Allergic Rhinitis, and Others), Route of Administration (Inhalation, Oral, Intravenous, and Others), End-user (Hospital Pharmacies, Retail Pharmacies, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the drug class segment of the respiratory drugs market, the bronchodilators category is estimated to amass a significant revenue share in the respiratory drugs market in 2023. This can be attributed to the various applications and advantages provided by the category that will be responsible for driving the demand for respiratory drugs during the given forecast period.
Bronchodilators, provide quick relief from acute symptoms such as wheezing, shortness of breath, and chest tightness. This rapid onset is crucial during asthma attacks or sudden exacerbations of COPD. Additionally, bronchodilators work by directly relaxing the smooth muscles in the airways, leading to bronchodilation and immediate improvement in airflow. This direct mechanism can be more effective for acute symptom relief compared to anti-inflammatory drugs that take longer to work. Further, bronchodilators are available in various forms, including inhalers, nebulizers, oral tablets, and injectables. This versatility allows for personalized treatment plans based on patient preferences, severity of symptoms, and specific clinical scenarios.

In addition, the various product launches and regulatory approvals for respiratory drugs are also expected to propel the market for the bronchodilators category in the upcoming years. For example, in September 2023, Verona Pharma plc announced that the US Food and Drug Administration has accepted for review the Company’s New Drug Application seeking approval of ensifentrine for the maintenance treatment of patients with chronic obstructive pulmonary disease (COPD).

Therefore, owing to the above-mentioned factors, the bronchodilators category is expected to register significant growth, thereby driving the growth of the overall respiratory drugs market during the forecast period.

North America Is Expected To Dominate The Overall Respiratory Drugs Market:

North America is expected to account for the highest proportion of the respiratory drugs market in 2023, out of all regions. This is due to the growing prevalence of respiratory diseases in the region. Additionally, increasing risk factors associated with respiratory disorders, growing air pollution and growing awareness regarding respiratory diseases leading to an increase in diagnosis are some of the key factors driving the growth of the respiratory drugs market in North America.

According to the data provided by the Asthma and Allergy Foundation of America (AAFA) 2023, around 38.7% of children below the age of 18 years, had reported having asthma attacks in 2021, in the United States.

Further, according to data provided by the American Society of Cancer 2023, it was estimated that there were around 2,38,340 new cases of lung cancer in the United States in 2023.
Thus, the increasing prevalence of respiratory disorders will create a need for the management and treatment of such respiratory disorders, thus contributing to the growing market demand for respiratory drugs in the United States, which will in return propel the market for North America respiratory drugs market.

Further, various key product approvals in the region are some of the other factors that are influencing the positive growth of the market in North America. For instance, in May 2024, Moderna, Inc. announced that they had received U.S. Food and Drug Administration (FDA) approval for mRESVIA (mRNA-1345), an mRNA respiratory syncytial virus (RSV) vaccine, to protect adults aged 60 years and older from lower respiratory tract disease caused by RSV infection. The approval was granted under a breakthrough therapy designation and marks the second approved mRNA product from Moderna.

Therefore, the factors mentioned above, are some of the important factors that are thereby responsible for driving the overall market for respiratory drugs in North America during the forecast period.

Respiratory Drugs Market Key Players:

Some of the key market players operating in the respiratory drugs market include AstraZeneca, F. Hoffmann-La Roche Ltd., Teva Pharmaceuticals, Novartis AG, GSK plc., Merck & Co., Grifols, S.A., Boehringer Ingelheim International GmbH., Sanofi, Regeneron Pharmaceuticals Inc., Glenmark Pharmaceuticals Ltd., Lupin, Verona Pharma plc, Moderna, Inc., Pfizer Inc. and others.

Recent Developmental Activities In The Respiratory Drugs Market:

• In November 2023, Lupin announced the launch of Vilfuro-G, the world's first fixed-dose triple combination drug (FDC) for the treatment of chronic obstructive pulmonary disease (COPD) in India.
• In July 2023, Viatris Inc. and Kindeva Drug Delivery L.P. announced the launch of Breyna™ (budesonide and formoterol fumarate dihydrate) inhalation aerosol, the first generic version of AstraZeneca's Symbicort® with an Abbreviated New Drug Application (ANDA) approved by the U.S. Food and Drug Administration (FDA).

Key Takeaways From The Respiratory Drugs Market Report Study

• Market size analysis for current respiratory drugs market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the respiratory drugs market.
• Various opportunities available for the other competitors in the respiratory drugs market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current respiratory drugs market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for respiratory drugs market growth in the coming future?

Target Audience Who Can Be Benefited From This Respiratory Drugs Market Report Study

• Respiratory drug providers
• Research organizations and consulting companies
• Respiratory drugs- related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in respiratory drugs
• Various end-users who want to know more about the respiratory drugs market and the latest technological developments in the respiratory drugs market.

Frequently Asked Questions For The Respiratory Drugs Market:

1. What is meant by respiratory drugs?

Respiratory drugs are medications used to treat conditions affecting the respiratory system, such as asthma, chronic obstructive pulmonary disease (COPD), bronchitis, and other pulmonary disorders. These drugs work by various mechanisms to improve breathing, reduce inflammation, and manage symptoms.

2. What is the market for respiratory drugs?

The respiratory drugs market is estimated to grow at a CAGR of 5.87% during the forecast period from 2024 to 2030.

3. What are the drivers for the global respiratory drugs market?

The respiratory drugs market is slated to witness prosperity owing to factors such as the increasing prevalence of respiratory disorders around the globe. Additionally, increasing air pollution and exposure to allergens and growing awareness regarding respiratory diseases leading to an increase in diagnosis are some of the key factors, which are contributing to the growth of the respiratory drugs market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global respiratory drugs market?

Some of the key market players operating in the respiratory drugs market include AstraZeneca, F. Hoffmann-La Roche Ltd., Teva Pharmaceuticals, Novartis AG, GSK plc., Merck & Co., Grifols, S.A., Boehringer Ingelheim International GmbH., Sanofi, Regeneron Pharmaceuticals Inc., Glenmark Pharmaceuticals Ltd., Lupin, Verona Pharma plc, Moderna, Inc., Pfizer Inc., and others.

5. Which region has the highest share in the global respiratory drugs market?

North America is expected to dominate the overall respiratory drugs market during the forecast period from 2024 to 2030. This is due to the growing prevalence of respiratory diseases in the region. Additionally, increasing risk factors associated with respiratory disorders, growing air pollution and growing awareness regarding respiratory diseases leading to an increase in diagnosis are some of the key factors driving the growth of the respiratory drugs market in North America.