The global respiratory drug market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period (2024-2031). The changing lifestyle and increase in obesity are one of the prime factors affecting and driving the market. As per the data published by the World Health Organization (WHO) in April 2020, 2.8 million people in world population are dying every year due to obesity. One of the important risk factors associated with respiratory disease such as chronic obstructive pulmonary disease (COPD) and asthma among others is a major cause due to obesity. The rate of obesity is still growing across the globe and having a large impact that weakens the respiratory muscle that leads to muscle inefficiency.
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Additionally, change in life style has also affected our respiratory system due to adoption of unhealthy food diet along with unhealthy habits such as smoking, drinking alcohol are increasing among the people which is a major risk for the development of various respiratory related diseases.
To gain on the opportunity key players operating in the global respiratory drug market had been adopting strategy such as new launches to achieve major market share in the global market. For instance, in January 2020, Teva Pharmaceutical Industries Ltd. had received the FDA (United States Food and Drug Administration) approval for making and developing inhaler that is digitally integrated. Pro air digihaler is the first inhaler which had got approved that consist of built-in sensors within each inhaler offered to the patients along with application in mobile for patients as well.
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Market Coverage
- Segment Covered-
o By Route of Administration
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- AstraZeneca, Boehringer Ingelheim International GmbH., GlaxoSmithKline plc., Koninklijke Philips N.V., and OMRON corp.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Respiratory Drug Market – Segmentation
By Route of Administration
- Oral
- Injectable
- Inhalable
By Application
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
By End-User
- Homecare
- Hospitals And Clinics
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