Respiratory drugs market to grow by USD 30.23 billion from 2022-2027, North America to account for 50% of market growth - Technavio

NEW YORK, Oct. 12, 2023 /PRNewswire/ -- The respiratory drugs market size is expected to grow by USD 30.23 billion from 2022 to 2027. In addition, the momentum of the market will be progressing at a CAGR of  6.38% during the forecast period, according to Technavio Research. The market is segmented by distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies ), type (asthma, COPD, allergic rhinitis, cystic fibrosis, and other respiratory diseases ), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 50% to the growth of the global market during the forecast period. One of the key factors contributing to the growth of the market in North America is the aging demographic and rising prevalence of respiratory diseases.   To gain access to more vendor profiles available with Technavio, buy the report!

Company Profile:

Abbott Laboratories, AbbVie Inc., Aerogen Pharma Ltd., AstraZeneca Plc, Aurobindo Pharma Ltd., Boehringer Ingelheim International GmbH, Celon Pharma SA, Cipla Ltd., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Laboratory Corp. of America Holdings, Lupin Ltd., Medisol Lifescience Pvt. Ltd., Merck and Co. Inc., Novartis AG, Sumitomo Pharma Co. Ltd., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Inc., Wellona Pharma, and Glenmark Pharmaceuticals Ltd.

• Abbott Laboratories: The company offers respiratory drugs namely Pulmocare designed for people with chronic obstructive pulmonary disease, cystic fibrosis, or respiratory failure.

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Respiratory Drugs Market: Segmentation Analysis

The hospital pharmacies segment is significant during the forecast period. Several hospital pharmacies cooperate with many players and pharmaceutical firms to procure the required respiratory drugs.

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"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Respiratory Drugs Market: Driver & Trend:

Drivers- 

• Need for sustainable and safe respiratory drugs
• Rising prevalence of respiratory diseases
• Increasing tobacco consumption

The need for sustainable and safe respiratory drugs drives market growth. Despite the existence of effective treatments, multiple patients across the globe live with inadequately controlled respiratory diseases and have a low quality of life.

Trend- 
Rising digital health integration is the primary trend shaping the growth of the market.

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What are the key data covered in this respiratory drugs market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the respiratory drugs market between 2022 and 2027.
• Precise estimation of the respiratory drugs market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of respiratory drugs market vendors.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Distribution Channel

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio