Market Size of Global Pulmonary Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pulmonary Drugs Market Analysis
The pulmonary drugs market is expected to register a CAGR of 5.4% over the forecast period (2022-2027).
The COVID-19 pandemic and lockdowns in various countries across the world have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, owing to the strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the global pulmonary drugs market, due to patients with asthma and Chronic Obstructive Pulmonary Disease (COPD) being considered at increased risk of death from Covid-19. For instance, in August 2021, according to data published by National Center for Biotechnology Information, Asthma statistics worldwide for 2020 showed that more than 339 million individuals have asthma and that around four million children develop asthma each year on a global level. Thus, increasing cases of COVID-19 are rising the cases of respiratory disorders which generates the need for pulmonary drugs.
Additionally, various clinical research studies based on SARS-CoV-2 showcased that the virus is capable of changing pulmonary hemodynamics through the mechanisms of venous thromboembolism, endothelial dysfunction, thrombotic microangiopathy, and vascular leak. For instance, In January 2021, the National Center for Biotechnology Information (NCBI) published a study that states that those patients who died of COVID-19, exhibited thickened pulmonary vascular walls. This shows that in the future, SARS-CoV-2 can trigger the high susceptibility of infected individuals to developing pulmonary arterial hypertension. Thus, COVID-19 has a significant impact on market growth.
Certain factors that are driving the market growth include the rising prevalence of pulmonary diseases and the growing geriatric population. Pulmonary diseases affect the airways and other parts of the lungs for a long duration of the period. Respiratory symptoms are among the major causes of consultation with doctors and physicians in primary health care centers. Some of the major preventable chronic respiratory disorders are asthma, chronic obstructive pulmonary disease (COPD), allergic rhinitis, sleep apnea, and tuberculosis (principally, multi-drug resistant tuberculosis). As per the Asthma and allergy foundation of America published in March 2021, Roughly 1 in 13 Americans have asthma, which is about 25 million people. Asthma is one of the largest contributors to this figure, affecting children, adults, and elderly people. The same source stated that about 5 million American children have asthma. There is a high prevalence of severe asthma in the Middle East & Africa and the Latin America region as compared to the mid-range of prevalence in North America, Europe, and Asia-Pacific countries.
Another reason for the increased prevalence of respiratory diseases is the excessive environmental pollution in metropolitan cities and industrial lands. In addition, secondhand smoke exposure also leads to serious respiratory diseases. Stringent government regulations for product approval and side effects associated with drugs are hampering the growth of the market.
