Respiratory Drugs Market size is predicted to reach USD 990 billion by the end of 2036, growing at a CAGR of 2% during the forecast period i.e., 2024-2036. In the year 2023, industry size of respiratory infection was over USD 200 billion. This market growth is set to be dominated by growing consumption of tobacco.
Further, the prevalence of second-hand smoke is also surging. For instance, as per the estimation of the World Health Organization, over 1.3 million non-smokers are killed due to the exposure of second-hand smoking across the globe. Second-hand smoking is the major driver for the rise in respiratory infection. As a result, the market is predicted to gather highest revenue.
Moreover, another main reasons for the rise in respiratory disease is upper respiratory infection. Upper respiratory tract infection occurs in a higher part of the respiratory tract. Nasal passages, sinuses, pharynx, and trachea are the specific areas that are most affected by the infection. The respiratory drugs are one of the common treatment available in the market. Hence, the market is poised to observe growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
2% |
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Base Year Market Size (2023) |
USD 200 Billion |
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Forecast Year Market Size (2036) |
USD 990 Billion |
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Regional Scope |
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Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Drug Store)
In respiratory drugs market, hospital segment is likely to capture around 40% share by the end of 2036. The growth in number of hospitals in set to boost the segment share. In the year 2021, across the globe there were over 164000 hospitals. The purchase of medicines needed to treat the upper respiratory tract is carried out by hospital pharmacies in close cooperation with suppliers and pharmaceutical companies. They're stored in pharmaceutical warehouses after that.
The inventory management systems help to keep stock levels under control and ensure that an adequate supply of medicinal products for patients with breathing difficulties is available. In addition, hospital pharmacies frequently teach patients how to use their respiratory medicines properly. Better patient compliance and more efficient distribution of medicines are a result of this education. These factors will contribute to the growth of hospital pharmacies, which are expected to be a driving factor for market development in the projection period. Therefore, the market is projected to capture the highest share over the years to come.
However, the drug store segment is also anticipated to account for a significant share by the end of the 2036. The mounting competition within the non-prescription respiratory drugs advertise is profoundly unstable and the nearness of major worldwide key players has revolutionized the research and improvement within the fabricating industry. The penetration of medicate dispersion channel is broadly established within the supply of respiratory drugs drugs, expeditiously satisfying the request from medicate stores.
Route of Administration (Oral, Topical, Nasal)
In respiratory drugs market, oral segment is predicted to capture around 50% revenue share by the end of 2036. This is owing to the fact that oral drug delivery provides excellent compliance and convivence to the patients. Also, the growing trend of self-administration and home healthcare is additionally offering scope for the growth of oral drug delivery. Consequently, with the growth in this segment, the market is also estimated to experience boost.
Our in-depth analysis of the global market includes the following segments:
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Drug Class |
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Form |
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Route of Administration |
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Distribution Channel |
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North American Market Forecasts
By 2036, North America region is projected to hold more than 35% respiratory drugs market share. The development in the region can be dominated by developing burden of respiratory maladies. Also, the prevalence of obesity is also rising in this region. In 2023, over 18 states in America were poised to have obesity rates approximately 34 percent, which indicates a rise from about 15 states in 2022.
Consequently, these variables are expected to drive the development of the showcase within the estimated period. The selection of quick diagnostics tests for quicker determination of respiratory irresistible illnesses is another key factor expected to expand the respiratory irresistible infection diagnostics advertise within the locale.
APAC Market Analysis
The respiratory drugs market in the Asia Pacific region is set to grow significantly during the projected period. The Asia-Pacific region is a residence for huge heterogeneous population whose respiratory health is encouraged by diverse social, environmental and economical factor.
Moreover, the healthcare infrastructure in many countries in the region is enhancing, making it easier for people to access diagnosis and treatment for regulatory diseases. Additionally, huge investment has been made by government to enhance the treatment outcome. Therefore, the market is set to rise in this region.
Author Credits: Radhika Pawar
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