Airway Disease Treatment Market to surpass US$ 3,495.3 Mn by 2032, Says FMI
The global airway disease treatment market 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.
LABA-ICS, LAMA-ICS, triple treatment, and other related drugs are among the pharmaceuticals used in combination therapy for COPD. Combination therapy is gaining popularity due to its greater efficacy to utilising a bronchodilator and a corticosteroid separately, which is driving the demand for treatments for airway diseases.
Due to an increase in patients who are successfully treated with combination therapy but who did not respond to bronchodilators or corticosteroid therapies, the market for treating airway diseases is expected to grow.
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Additionally, the use of airway disease treatment is on the rise since combination therapy is more effective than monotherapy at improving the symptoms and quality of life of people with chronic obstructive lung disease.
Due to recent regulatory approvals and an increase in the success rate of the COPD treatment, combination therapy has also gained popularity, benefiting the market as a whole. Another important aspect influencing market trends and predictions for the treatment of airway diseases is the development of innovative medicines for asthma by significant market participants.
Market traits like strong and effective R&D activities help the adoption of airway disease treatments. The engagement of well-known pharmaceutical companies in the development of asthma drugs, which is a chronic disease that affects a considerable number of patients globally, is one of the key trends in the market for treating airway diseases.
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.
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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.
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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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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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