PUBLISHER: The Business Research Company | PRODUCT CODE: 1415691
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415691
“Reversible Airway Diseases Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on reversible airway diseases treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for reversible airway diseases treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The reversible airway diseases treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Reversible airway diseases refer to conditions characterized by the temporary narrowing of airways, typically caused by inflammation and constriction of the surrounding smooth muscles. The primary objective of treating these conditions is to alleviate symptoms like cough and shortness of breath in order to enhance lung function.
The main categories of treatment options for reversible airway diseases include diagnostic procedures such as chest X-rays and computed tomography (CT) scans, therapeutic lung interventions, surgical procedures, organ transplants, and medications. A chest X-ray is a diagnostic imaging method that employs a small amount of ionizing radiation to produce images of the chest's internal structures, encompassing the heart, lungs, and bones. Various reversible airway diseases include asthma, chronic bronchitis, emphysema, cystic fibrosis, bronchiolitis, and others. These treatment approaches are utilized by diverse end-users, including hospitals, specialty clinics, and other healthcare facilities.
The reversible airway diseases treatment market research report is one of a series of new reports from The Business Research Company that provides reversible airway diseases treatment market statistics, including reversible airway diseases treatment industry global market size, regional shares, competitors with a reversible airway diseases treatment market share, detailed reversible airway diseases treatment market segments, market trends and opportunities and any further data you may need to thrive in the reversible airway diseases treatment industry. This reversible airway diseases treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The reversible airway diseases treatment market size has grown strongly in recent years. It will grow from $79.43 billion in 2023 to $85.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to rising prevalence of reversible airway diseases, growing awareness of reversible airway diseases, increasing access to healthcare, rising disposable incomes.
The reversible airway diseases treatment market size is expected to see strong growth in the next few years. It will grow to $110.28 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to aging population, increasing prevalence of chronic diseases, rising urbanization and air pollution, expanding access to healthcare. Major trends in the forecast period include digital health technologies, research and development of new treatments, early intervention and prevention, inhaler technology advancements.
The increasing prevalence of chronic respiratory diseases is poised to be a significant driver of the reversible airway disease treatment market's expansion in the foreseeable future. Chronic respiratory diseases encompass a range of medical conditions affecting the respiratory system, comprising the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. The testing and treatment of chronic respiratory diseases play a pivotal role in early detection and diagnosis, particularly for conditions like acute respiratory distress syndrome. Timely intervention and effective management reduce the risk of complications and the progression of these diseases. For example, as of February 2021, data from the NCD Alliance, a Switzerland-based civil society organization, reveals that lung cancer stands as the primary cause of cancer-related deaths on a global scale, accounting for 2.2 million new cases and 1.8 million fatalities. Furthermore, the data published by The Lancet in September 2022 indicates that there were 11,255 new cases of respiratory syncytial virus in 2021, marking an 11.4% increase from the 9,972 cases reported in 2020. Hence, the escalating incidence of chronic respiratory diseases is anticipated to drive the growth of the reversible airway disease treatment market.
The growing healthcare expenditure is poised to be a key driver of the reversible airway disease treatment market's growth in the coming years. Healthcare expenditure encompasses the total financial resources allocated to healthcare services and associated activities within a specific healthcare system or economy over a defined period. The upward trend in healthcare spending is particularly significant in the context of treating reversible airway diseases, as it facilitates increased investments in research and development, patient education, access to advanced medications, and the development of cutting-edge technologies. Consequently, higher healthcare expenditures contribute to enhancing the management and treatment outcomes for individuals affected by reversible airway diseases. For example, as of November 2022, according to a report by the Canadian Institute for Health Information (CIHI), a Canada-based health organization, Canada's healthcare expenditure reached $328 billion in 2021 and subsequently increased to $331 billion in 2022. Thus, the escalating healthcare expenditures are propelling the expansion of the reversible airway disease treatment market.
The restricted availability of vital inhaled therapies for individuals with COPD in low and middle-income countries (LMICs) is posing a hurdle to the growth of the reversible airway disease treatment market. Inhalation therapy is a medical approach that enables the direct delivery of medications into the airways via inhalation devices. However, in LMICs, there is a lack of access to and affordability of crucial inhaled therapies for individuals with COPD, which can limit their ability to receive effective treatment options. For example, as of October 2022, data from the Lancet Global Health indicated that only six out of 58 countries achieved the 80% availability target for short-acting beta-agonists (SABAs), and merely three out of 48 met the minimum requirement for inhaled corticosteroids (ICSs). Consequently, the inadequate accessibility of essential inhaled therapies for COPD patients in low- and middle-income countries (LMICs) is impeding the advancement of the reversible airway disease treatment market.
The prominent companies within the reversible airway disease treatment market are placing a significant emphasis on inhalation-based dosage forms for respiratory drug delivery to maintain their market presence. For instance, in June 2021, Glenmark Pharmaceuticals Ltd., an India-based pharmaceutical company, introduced Tiogiva, a Tiotropium Bromide Dry Powder Inhaler (DPI) in the United Kingdom. Tiogiva is a bioequivalent alternative to Boehringer Ingelheim's Spiriva Handihaler, designed for managing chronic obstructive pulmonary disease (COPD). COPD is a chronic condition characterized by lung inflammation, damage to lung tissue, and airway constriction. Glenmark Pharmaceuticals has plans to expand the product's availability throughout Western Europe, introducing it under various brand names such as Tiogiva in Ireland, Sweden, Finland, and Norway; Tavulus in Denmark, Spain, and the Netherlands; and Tiotropium Glenmark in Germany.
In October 2022, Lupin Ltd., an India-based pharmaceutical company, completed the purchase of two inhalation product brands from Sunovion Pharmaceuticals Inc. for $75 million. This strategic acquisition is set to fortify Lupin Ltd.'s inhalation product portfolio, with the addition of two brands, including Brovana (arformoterol tartrate) inhalation solution. Brovana is specifically indicated for the long-term maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease (COPD), including those with reversible obstructive airway disease. The move serves to enhance Lupin Ltd.'s presence in the field of respiratory therapy. Sunovion Pharmaceuticals Inc. is a US-based pharmaceutical company specializing in the treatment of reversible airway diseases.
Major players in the reversible airway diseases treatment market are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A., GlaxoSmithKline Plc, Medtronic plc, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Grifols SA, Sumitomo Dainippon Pharma Co. Ltd., Sun Pharmaceutical Industries Ltd., Dragerwerk AG & Co. KGaA, Dr. Reddy's Laboratories Ltd., Cipla Limited, Getinge AB, Hikma Pharmaceuticals plc, Amneal Pharmaceuticals LLC, Lupin Limited, Fisher & Paykel Healthcare Corporation Limited .
North America was the largest region in the reversible airway diseases treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in reversible airway disease treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the reversible airway disease treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The reversible airway disease treatment market consists of sales of biological therapies and oxygen therapies. The market value includes the value of related goods sold by the service provider or included within the service offering. The reversible airway disease treatment market also includes sales of anti-inflammatory drugs, monoclonal antibody drugs and medical devices such as inhaler devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.