Pulmonary Drugs Market is Expected to Witness Massive Growth as AstraZeneca enters into Partnership with Propeller Health to add Smart Features to its Symbicort Inhaler for the Treatment of COPD
Chronic
obstructive pulmonary disease (COPD) or also known as chronic obstructive
respiratory disease is a progressive condition wherein the airways become
swollen, inflamed, and clogged due to the buildup of mucus. This mucus becomes
the first line of defense against any irritant which leads to difficulty in
breathing, coughing, chest pain, wheezing, and shortness of breath. With time,
this mucous thickens and makes it difficult for the air to pass through.
Increasing
incidence of respiratory diseases is expected to drive growth of the global pulmonary
drugs market. According to the Centers for
Disease Control Prevention (CDC), over 25 million U.S. citizens have asthma.
According to the same source, in 2017, around 1 in children had asthma.
Moreover, according to the World Health Organization (WHO), in 2016, around 251
million cases of chronic pulmonary obstructive disease (COPD) were reported
globally. Such a massive increase in respiratory diseases has increased the
demand for pulmonary drugs worldwide. Pulmonary drug delivery offers numerous
advantages due to the large internal surface area of the lung. Hence, such
factors are expected to drive growth of the global pulmonary drugs market.
Furthermore, growing emphasis on the development of smart or digital inhalers
is expected to propel the global pulmonary drugs market growth in the near
future.
Concerns
regarding stringent regulatory policies and side-effects associated with some
drugs are expected to restrain growth of the global pulmonary drugs market.
However, emergence of online marketing channels and rising demand from emerging
economies can provide lucrative growth opportunities in the global pulmonary
drugs market. Among regions, North America is expected to witness significant
growth in the global pulmonary drugs market. This is owing to increasing prevalence
of respiratory diseases in the region. According to the Cystic Fibrosis
Foundation (CFF), in the U.S., over 1,000 new cases of cystic fibrosis are
diagnosed each year. Furthermore, Asia Pacific is expected to register a robust
growth rate, owing to improving healthcare infrastructure and growing patient
awareness in the region.
Key
competitors involved in the global pulmonary drugs market are AstraZeneca plc,
Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim, Sumitomo Dainippon
Pharma Co., Ltd., F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc.,
GlaxoSmithKline plc, Pfizer Inc., Grifols, S.A., and Merck & Co., Inc.
For
instance, in May 2020, AstraZeneca partnered with Propeller Health to add smart
features to its Symbicort inhaler for the treatment of asthma and chronic
obstructive pulmonary diseases (COPD).
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