Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global pulmonary drugs market, by drug class (Inhaled Corticosteroids, Long Acting Beta-2 Agonists, Antihistamines, Vasodilators, and Others), by application (Asthma & COPD, Allergic Rhinitis, Pulmonary Arterial Hypertension, Cystic Fibrosis, and Others), by distribution channel (Hospital Pharmacies, Retail Pharmacies, and e-Commerce), and by region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), was evaluated at US$ 28,064.5 million in 2016 and would potentially display a magnificent CAGR of 8.1% over the forecast period (2017-2025).
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The patent expiry of branded drugs and an enormous number of drug candidates in the pipeline, resulting from extensive R&D, are imperative factors anticipated to generate innumerable growth opportunities for the leading market players participating in the global pulmonary drugs market. Escalating prevalence of respiratory diseases and chronic obstructive pulmonary diseases across the world is majorly leading to innumerable deaths, as well as physical disabilities. Thus, the prevention, treatment, and control of these conditions are the top priorities for the global healthcare sector.
According to the Forum of International Respiratory Societies, around 65 million people around the world were found to be suffering from chronic obstructive pulmonary diseases in 2016, which resulted in around 3 million deaths. The wide ambit of pulmonary diseases include pneumonia, allergic rhinitis, pulmonary hypertension, and others, which have together given rise to a gigantic economic burden on the global healthcare sector. According to the 2017 report released by the World Health Organization, Chronic Obstructive Pulmonary Diseases (COPDs) were principally accountable for about 5% of the global death toll in 2015. Furthermore, the Office of Disease Prevention and Health Promotion reported that up to 25 million people in the U.S. suffered from asthma, which led to an estimated annual expenditure of US$ 20.7 billion. Therefore, the consistently rising patient population suffering from respiratory diseases is projected to augment the global market growth over the forecast timeline.
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- Asia Pacific, Latin America, the Middle East, and Africa are some of the principal revenue generators for the global pulmonary drugs market.
- On the basis of drug class, the inhaled corticosteroids segment led the global market, owing to the numerous advantages offered by these drugs, such as lower concentration of drug delivery into the patient’s system and lower risk of side effects associated with oral steroid consumption.
- In terms of application, the asthma and COPD segments lead the global pulmonary drugs market, owing to the rising incidence of these conditions worldwide.
The well-known and established players operating in the global pulmonary drugs market include Sanofi SA, Meda Pharmaceuticals, Circassia Pharmaceuticals Plc., AstraZenca Plc., GlaxoSmithKline Plc., Mallinckrodt Pharmaceuticals Plc., Cheisi farmaceutici S.p.A., Zambon Company S.p.A., Alaxia SAS, and Merck Sharp & Dohme Limited.
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These players are entirely focused on the development of new, innovative products, with extensive R&D on pulmonary drugs. Also, these players are looking forward to adopting various strategies, including mergers, definitive agreements, and acquisitions, to bolster their product portfolios For instance, in 2017, Sanofi SA completed the phase II clinical trials in April 2017 of new drug Dupilumab in association with Regeneron Pharmaceuticals. In 2017, Circassia Pharmaceuticals completed Phase IV clinical trials of Tudorza with a collaborative agreement between Circassia and AstraZeneca Plc. for the treatment of COPD. Furthermore, in 2016, Mylan N.V. acquired Meda Pharmaceuticals to enhance geographic reach with significant sales of products worldwide, in which China, South East Asia, and the Middle East were the major regional targets for the company.
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