The Respiratory Drugs Market to aggregate to $50.1 billion by 2024.
Inhaled corticosteroids (ICS), anticholinergics, antihistamines, long-acting beta2-agonists (LABA), vasodilators, Short-Acting Beta2-Agonists (SABA), and combination drugs are the major respiratory drugs classes available in the market.
Currently, combination drugs are the most prominent class of drugs that prevail in the market, with the top brands facing no real competition from generic alternatives.
The emergence of inexpensive, state-of-the-art and effective drug delivery devices is expected to provide stimulation to the market growth. According to Infoholic Research, the Global Respiratory Drugs market is expected to grow at a CAGR of 5.9% during the forecast period 2018-2023, to touch an aggregate revenue of $50.1 billion by 2024.
Up until recently, inhaled drugs have been used to deliver medicines that have been specifically targeted at the most prominent of respiratory diseases – these being chronic obstructive pulmonary disease (COPD) and asthma.
At present, it is estimated that around 235 million people across the globe are suffering from asthma and that in excess of 200 million people have COPD – with the startling rates set to increase further in developing countries.
As a consequence, a major focus for international research remains finding efficacious medications for these diseases.
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