The Global Respiratory Diseases Drugs Market Grew At 42.5% CAGR In 2020 Due To Covid-19

Respiratory Diseases Drugs Global Market Report 2020-30: Covid 19 Implications And Growth

The Business Research Company's Respiratory Diseases Drugs Global Market Report 2020-30: Covid 19 Implications And Growth

LONDON, GREATER LONDON, UK, July 8, 2020 / EINPresswire.com / -- The global respiratory diseases drugs market size is expected to grow from $65 billion in 2019 to $92.6 billion in 2020 at a compound annual growth rate (CAGR) of 42.5%. The respiratory drugs market witnessed significant growth mainly due to the COVID-19 outbreak. The fact that Covid-19 is essentially a respiratory ailment has boosted the market growth. Drugs such as Albuterol have registered high growth. The market is then expected to stabilize and grow at a CAGR of 4% from 2021 and reach $97.8 billion in 2023.

The demand for pseudoephedrine (PSE)-containing cold, allergy, and sinus products is growing in the global respiratory disease drugs market, due to their effectiveness and convenience. PSE is an active ingredient found in various cold, allergy, and sinus drugs that can provide congestion relief. However, PSE-containing medicines are mostly sold as a prescription drug, as PSE can also be used for the illegal manufacture of methamphetamine, a recreational drug. This has led drug manufacturers to produce tamper-resistant PSE products. For instance, in March 2017, pharmaceutical companies Acura Pharmaceuticals Inc. and MainPointe Pharmaceuticals LLC entered into an agreement, enabling MainPointe Pharmaceuticals LLC to market NEXAFED and NEXAFED Sinus products in the US and Canada. These drugs utilize tamper-resistant PSE formulation to prevent the illicit production of methamphetamine.

The respiratory diseases drugs market consists of sales of respiratory diseases drugs and related services by entities (organizations, sole traders and partnerships) that produce drugs to treat respiratory diseases such as asthma, acute bronchitis, emphysema, cystic fibrosis and other diseases. This industry includes establishments that produce anti-asthmatics and COPD drugs to prevent acute attacks caused by respiratory diseases, and cough and cold preparations to treat cough and cold.

The global respiratory diseases drugs market is segmented by type into anti-asthmatics and COPD drugs, and cough and cold preparations. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies/ drug stores, and others. By route of administration, the market is segmented into oral, parenteral, and others. By drug classification, it is segmented into branded drugs and generic drugs. By mode of purchase, it is segmented into prescription-based drugs and over-the-counter drugs.

Major players in the global respiratory diseases' drugs market are GlaxosmithKline Plc, AstraZeneca Plc, Merck & Co, Novartis AG, and Johnson & Johnson.
North America was the largest region in the global respiratory diseases' drugs market, accounting for 49% of the total share in 2019. Western Europe was the second largest region accounting for 19% of the global respiratory diseases' drugs market. Africa was the smallest region in the global respiratory diseases' drugs market.

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