Overview and Scope
The lower respiratory tract refers to the portion of the respiratory system exchanging gases, where oxygen is taken in, and carbon dioxide is expelled. Lower respiratory tract therapeutics refers to the branch of medical science and clinical practice that focuses on diagnosing, treating, and managing diseases and disorders affecting the lower respiratory tract. These therapeutics improve the quality of life and overall health outcomes for individuals with lower respiratory tract disorders.
Sizing and Forecast
The lower respiratory tract therapeutics market size has grown strongly in recent years. It will grow from $32.91 billion in 2023 to $35.8 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to antibiotic discoveries, vaccination programs, smoking cessation campaigns, advancements in inhalation therapy, healthcare infrastructure growth.
The lower respiratory tract therapeutics market size is expected to see strong growth in the next few years. It will grow to $48.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rising air pollution levels, aging population, antimicrobial resistance, environmental factors, . Major trends in the forecast period include precision medicine approaches, technological innovations, biologic therapies, telehealth in respiratory care, personalized inhalation devices.
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Segmentation & Regional Insights
The lower respiratory tract therapeutics market covered in this report is segmented –
1) By Disease Type: Asthma, Chronic obstructive pulmonary disease, Pneumonia, Tuberculosis, Bronchitis, Other Diseases
2) By Drug Class: Antibiotics, Non-Steroidal Anti-Inflammatory Drug, Cough Suppressant, Nasal Decongestant, Other Drug Classes
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
North America was the largest region in the lower respiratory tract therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lower respiratory tract therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising prevalence of respiratory diseases will boost the lower respiratory tract therapeutics market going forward. Respiratory diseases refer to medical conditions that affect the respiratory system, which includes the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. Lower respiratory tract therapeutics is primarily used for the early detection and diagnosis of respiratory conditions, which can lead to earlier treatment and management. This can help prevent the progression of the disease and is also essential for controlling the spread of infectious respiratory diseases and reducing the risk of complications. For instance, in September 2022, according to the data from the NCD Alliance, a Switzerland-based civil society organization, lung cancer was the leading cause of cancer deaths worldwide, with 2.2 million new cases and 1.8 million fatalities anticipated year on year. Further, chronic respiratory disorders impacted 550 million adults globally, and 4.2 million people died, or 7 %. Therefore, the rising prevalence of respiratory diseases will drive the lower respiratory tract therapeutics market.
Key Industry Players
Major companies operating in the lower respiratory tract therapeutics market report are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline plc., Eli Lilly and Co Ltd., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Vertex Pharmaceuticals Incorporated, Grifols S.A., Menarini Group, Chiesi Farmaceutici S.p.A., Cipla Limited, BioMarin Pharmaceutical Inc., Mundipharma International Limited, Orion Corporation, Sunovion Pharmaceuticals Inc., Innoviva Inc., Insmed Incorporated, Vectura Group plc, Kamada Ltd., Theravance Biopharma Inc., Verona Pharma plc, Circassia Pharmaceuticals plc
The lower respiratory tract therapeutics market report table of contents includes:
1. Executive Summary
2. Lower Respiratory Tract Therapeutics Market Characteristics
3. Lower Respiratory Tract Therapeutics Market Trends And Strategies
4. Lower Respiratory Tract Therapeutics Market – Macro Economic Scenario
5. Global Lower Respiratory Tract Therapeutics Market Size and Growth
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32. Global Lower Respiratory Tract Therapeutics Market Competitive Benchmarking
33. Global Lower Respiratory Tract Therapeutics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lower Respiratory Tract Therapeutics Market
35. Lower Respiratory Tract Therapeutics Market Future Outlook and Potential Analysis
36. Appendix
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