Pulmonary drugs are medications used to treat respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and acute respiratory distress syndrome. These drugs help improve lung function, relieve symptoms, and prevent exacerbations of lung conditions. The increasing prevalence of respiratory diseases due to air pollution, smoking, and aging population has augmented the demand for pulmonary drugs. The global Pulmonary Drugs Market is estimated to be valued at US$ 52 billion in 2023 and is expected to exhibit a CAGR of 7.5 % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The increasing prevalence of respiratory diseases has accelerated the growth of the pulmonary drugs market over the forecast period. As per the statistics provided by the American Lung Association, over 25 million Americans suffer from asthma and over 16 million Americans have been diagnosed with COPD. Further, growing air pollution levels and rising cigarette smoking rates are the major factors contributing to the increased incidence of lung disorders. For instance, according to the 2020 report of World Health Organization, ambient air pollution alone causes around 4.2 million premature deaths globally each year. This growing disease burden has significantly driven the demand for pulmonary medications thereby fueling the market growth.

Segment Analysis
The global pulmonary drugs market is segmented into therapeutic classes, route of administration, distribution channel and regions. By therapeutic classes, the market is categorized into short acting beta agonists (SABA), long acting beta agonists (LABA), inhaled corticosteroids (ICS), antihistamines and others. Among these, the inhaled corticosteroids segment holds the largest market share owing to strong demand for asthma and chronic obstructive pulmonary disease (COPD) management. It is commonly prescribed to reduce inflammation in airways and is highly effective.

Key Takeaways

The Global Pulmonary Drugs Market Demand is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis shows that North America currently dominates the market driven by high healthcare expenditure and growing prevalence of respiratory diseases like asthma. The rising population of elderly and growing environmental pollution is further driving the North America market.

Key players operating in the region include GlaxoSmithKline plc, AstraZeneca plc, Novartis AG, Merck & Co. Inc., and Boehringer Ingelheim International GmbH. However, Asia Pacific is expected to witness fastest growth during the forecast period owing to large patient pool, improving access to healthcare, increasing healthcare spending by both public and private players and growth in medical tourism. The key players are focusing on new product launches and acquisitions to expand their market presence and geographical reach in emerging economies of Asia Pacific region.

For more details on the report, Read- https://www.insightprobing.com/pulmonary-drugs-market-demand-share-analysis/

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