The global respiratory disease drugs market size stood at around USD 87 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
The respiratory diseases drugs market consists of sales of respiratory diseases drugs and related services by entities (organizations, sole traders and partnerships) that produce drugs to treat respiratory diseases such as asthma, acute bronchitis, emphysema, cystic fibrosis and other diseases. This industry includes establishments that produce anti-asthmatics and COPD drugs to prevent acute attacks caused by respiratory diseases and cough and cold preparations to treat cough and cold. Some of the major drugs in the market include antimuscarinics, corticosteroids, Codral®, Coldrex® and Lemsip®.
The global respiratory diseases drugs market is expected to decline from $90.32 billion in 2020 to $79.82 billion in 2021 at a compound annual growth rate (CAGR) of -11.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to grow and reach $XX billion in 2028 at a CAGR of XX%.
Key factors such as increasing prevalence of respiratory diseases, rising geriatric population suffering from respiratory diseases are key drivers for the growth of the market.
The growth of the respiratory diseases drugs market was restrained by patent expiration of branded respiratory diseases drugs. During the patency period, the company holding the patent holds exclusivity for the manufacturing and distribution of drugs. Post expiration of patency, generic versions of the drugs are manufactured by other companies with prices much lower than the original branded drugs. Overall, this negatively impacts the growth of the market in terms of value.
Major Respiratory Disease
The major disease includes COPD, pulmonary hypertension, asthma, cystic fibrosis, allergic rhinitis and idiopathic pulmonary fibrosis.