Published On: Mar 21, 2017
The level of competition among the few dominant players in the global pulmonary drugs market is extremely high. The five leading vendors include GlaxoSmithKline Plc., Astra Zeneca, Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, and Merck & Co., Inc. Some of the other key players in the market are Actelion Pharmaceuticals, Inc., Sunovion Pharmaceuticals Inc., Bayer AG, and Novartis AG.
Due to patent expiry of several drugs, many leading players are expected to lose their market share during the forecast period. In order to uphold their position, established companies will divert their attention to developing result-oriented and effective medicines and strengthening their drug pipelines.
One of the prominent players in the market, Novartis AG, focuses on science-based innovations to deliver better patient outcomes, address the unmet medical needs, and lead in growing areas of healthcare. The company focuses on scientific advances with its robust product pipeline, considering innovative research and clinical approach to improve productivity and profitability. In January 2016, Novartis announced a collaboration with Qualcomm Life, Inc. to provide patients with real-time access to data for their use of inhalers in COPD treatment. Qualcomm Life is expected to provide technology solutions for Novartis’ leading respiratory treatments.
According to a TMR report, the global pulmonary drugs market will decline from its initial value of US$ 48,039.7 mn in 2015 to US$ 28,082.1 mn by 2024, and will witness -6.3% CAGR downfall within the forecast period of 2016 to 2024.
North America to Uphold its Position Due to Better Healthcare Facilities
On the basis of geography, the global market for pulmonary drugs has been segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America led the pack in 2015 with a 32.4% market share. This region is expected to progress during the said period owing to high awareness regarding the treatment of pulmonary diseases and advanced healthcare infrastructure. Asia Pacific is another promising market that is pegged to grow during the forecast period due to the expansion of the middle-income class and their growing expenditure on healthcare.
Based on drug class, in 2015, the leading share of 27.4% was held by the segment of combination drugs, followed by inhaled corticosteroids with a share of 16.7% in the same year in the global pulmonary drugs market. Combination drugs are considered to be relatively safer than the other drugs and this will drive their sales throughout the forecast period.
Increasing Disposable Income gives Impetus to Pulmonary Drugs Market
Chronic obstructive pulmonary disease affects over 200 million people across the globe and is also one of the leading causes of deaths globally, according to the Forum of International Respiratory Societies (FIRS). In addition, over 235 million people across the globe suffer from asthma. These worrisome figures are likely to drive the demand for pulmonary drugs. Cystic fibrosis, pulmonary arterial hypertension (PAH), respiration-related disorders, and allergic rhinitis are other conditions that can be treated with the help of pulmonary drugs, thereby supplementing the demand. Respiratory diseases caused due to excessive smoking is also benefiting the market. In addition, launch of many effective and innovative drugs, coupled with increasing disposable incomes and the rising awareness about treating pulmonary ailments, will boost the market growth.
However, patent cliffs are likely to hamper the revenues of several leading players and the entry of generic drugs in the global market will exacerbate the market condition of pulmonary drugs. Also, stringent regulatory process of getting the drugs approved from various authorities and wide availability of counterfeit drugs are expected abstain the market from developing further during the forecast period.
This review is based on the findings of a TMR report titled ‘Pulmonary Drugs Market (Drug Class - Inhaled Corticosteroids (ICS), Long-Acting Beta2-Agonists (LABA), Antihistamines, Vasodilators, Short-Acting Beta2-Agonists (SABA), Anticholinergics, Combination Drugs, MAbs, Enzymes, Antibiotics, and Antileukotrienes; Application - Asthma & COPD, Allergic Rhinitis, Pulmonary Arterial Hypertension, and Cystic Fibrosis; Distribution Channel - Hospital Pharmacies, Retail Pharmacies, Drug Stores, and E-commerce) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.’
Global Pulmonary Drugs Market Revenue, by Drug Class
- Inhaled Corticosteroids (ICS)
- Long-Acting Beta2-Agonists (LABA)
- Short-Acting Beta2-Agonists (SABA)
- Combination Drugs
- Others (MAbs, Enzymes, Antibiotics, Antileukotrienes, etc.)
Global Pulmonary Drugs Market Revenue, by Application
- Asthma & COPD
- Allergic Rhinitis
- Pulmonary Arterial Hypertension
- Cystic Fibrosis
Global Pulmonary Drugs Market Revenue, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
Global Pulmonary Drugs Market Revenue, by Geography
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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