Airway Disease Treatment Market 2022 Future Analysis, Demand by Regions and Opportunities with Challenges 2032
The global airway disease treatment market demand is projected to amass a revenue of around US$ 3,495.3 million by 2032, up from US$ 1,996.1 million in 2022 moving forward with a CAGR of 5.2% during the forecast period.
Among the medications used in combination therapy for COPD are LABA-ICS, LAMA-ICS, triple therapy, and other similar drugs. Due to its superior efficacy over using a bronchodilator and a corticosteroid separately, combination therapy is becoming more popular, propelling the demand for airway disease treatment.
The airway disease treatment market growth is likely to augment owing to a rise in the number of patients who are successfully treated with combination therapy but who were not responding to bronchodilators or corticosteroid treatments. In addition, the adoption of airway disease treatment soars as the symptoms and quality of life of patients with the chronic obstructive pulmonary disease can be improved more successfully with combination therapy than with monotherapy.
Combination therapy has also gained traction on account of recent regulatory approvals and a rise in the success rate of the treatment for COPD, aiding the overall market. Furthermore, the development of cutting-edge therapeutics for asthma by major market players is one of the critical factors holding a sway over the airway disease treatment market trends and forecasts.
The adoption of airway disease treatment is facilitated by market characteristics such as solid and robust R&D efforts. One of the significant airway disease treatment market trends is the involvement of well-known pharmaceutical companies in the development of asthma medications, as asthma is a chronic disease that affects a sizable number of patients worldwide.
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As part of this involvement, several promising asthma treatment candidates are currently undergoing various stages of clinical trials, influencing airway disease treatment adoption trends. For instance, in September 2019, Novartis released encouraging data from the phase III IRIDIUM study of the inhaled combination QVM149 in patients with uncontrolled asthma.
What Are The Key Airway Disease Treatment Market Dynamics?
On account of the rising prevalence of respiratory diseases such as asthma, cystic fibrosis and COPD across the world, the demand for airway disease treatment is expected to skyrocket to a considerable extent. And the same can be primarily owed to the highly susceptible elderly people to respiratory diseases (COPD, asthma, emphysema) due to reduced immunity and blood flow.
Furthermore, the airway disease treatment market key trends & opportunities are shaped by the introduction of advanced imaging technologies such as digital radiography and computed radiography as they render high-quality digital images.
Digital imaging systems have witnessed a low adoption rate as these are more expensive than analogue imaging systems, dwindling the overall airway disease treatment market size during the forecast period. Since the pandemic and asthma are closely related to respiratory illnesses, there is an increased need for various types of asthma treatment medications, in turn, spiking the demand for airway disease treatment.
Moreover, due to rising demand and adoption of airway disease treatment, the U.S. FDA has granted priority regulatory approvals to several asthma medications, including important generic alternatives.
A key generic asthma treatment drug from Cipla, for example, received regulatory approval from the U.S. FDA in April 2020. Lupin is also expected to receive regulatory approval for a generic version of the same medication, auguring well for the airway disease treatment market future trends.
The market is also positively impacted by the surging release of products with significant capability from well-known companies as a result of such developments and trends. Further efforts are made to prevent significant shortages of asthma medications by launching an increasing number of products.
Why Is North America Likely To Lead The Airway Disease Treatment Market?
Geographically, North America is anticipated to hold a major chunk of airway disease treatment market share accounting for 38.1% in 2022.
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The dominance of North America can be attributed to the rising incidence of respiratory diseases, the popularity of portable electronics, and the rising need for equipment and services for in-home medical care.
According to the American Lung Association, COPD is the third most common cause of death in the country. Additionally, a growing need for cutting-edge and inventive products in medical facilities, diagnostic labs, and outpatient ambulatory surgery centres would drive market expansion in the region.
What Is The Growth Outlook For The Airway Disease Treatment Market?
Europe holds the second place in the market for treatments for airway disease, projected to dominate a market share of 22.5% in 2022.
The region’s market is being driven by a well-established health care system and an increase in the prevalence of chronic obstructive pulmonary disease and Asthma being the most common issue among children.
A number of technological advancements in respiratory diagnostic testing have paved the way for the market’s expansion, including the use of artificial intelligence and the internet of things (IoT), among other things.
How Is The Start-Up Ecosystem In The Airway Disease Treatment Market?
A US-based start-up, Altavant Sciences, is advancing therapies for managing rare respiratory diseases. The company’s lead drug candidate, rodaristat ethyl, is a small molecule inhibitor of tryptophan hydroxylase (TPH).
The medication reduces serotonin levels in conditions like PAH and idiopathic pulmonary fibrosis (IPF). The start-up is also working on medicines to treat bronchiolitis obliterans syndrome. Exvastat, a British start-up, creates a drug that is modified to treat acute respiratory distress syndrome (ARDS).
Imatinib, a medication used to treat chronic myeloid leukaemia, is being reformulated by the start-up. The newly developed medication makes use of its capacity to obstruct vascular leak, a cause of pulmonary edoema.
How Strong Is The Competition In The Airway Disease Treatment Market?
Currently, the global airway disease treatment market is highly competitive owing to the involvement of many established players.
Some of the key players in the global airway disease treatment market are Holaira, Inc., VIDA Diagnostics, Boehringer Ingelheim International GmBH, AstraZeneca, Teva Pharmaceuticals, GlaxoSmithKline and Novartis.
Some of the recent developments in the airway disease treatment market are:
- Tudorza, also known as Eklira, and Duaklir distribution rights were sold by AstraZeneca for US$ 270 million to the Swiss pharmaceutical company Covis Pharma Group.
These medications are intended to treat chronic obstructive pulmonary disease (COPD).
- The generic albuterol inhaler made by Cipla received regulatory approval from the U.S. FDA in response to the COVID-19 crisis-related shortages of asthma medications.
For people with asthma, this drug is frequently regarded as a last resort.
Key Segments Profiled In The Airway Disease Treatment Market Survey
By Type:
- Asthma
- Chronic Obstructive Pulmonary Disorder
- Bronchiectasis
By Treatment:
- Bronchodilators
- Corticosteroids
- Cytotoxic Drugs
- Oxygen Therapy
- Antibiotics
- Others
By End Use:
- Hospitals
- Clinics
- ASCs
- Rehabilitation Centres
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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