Lung Disease Therapeutics Market Size To Hit USD 146.1 Billion By 2032
Abhishek Sable
Brand Strategist @ Towards Packaging - Advanced Packaging Consulting and Market Intelligence
A study published by Towards Healthcare states that the lung disease therapeutics market is estimated to grow from $ 81.2 billion in 2022 at 6.1% CAGR (2023-2032) to reach an estimated $ 146.1 billion by 2032, as a result of rising advancement in targeted and personalized therapies and increasing prevalence of associated diseases.
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Asthma symptoms are prevalent in approximately 1 in 10 children globally. According to the Global Asthma Network (GAN) Phase I 2022 findings, the overall prevalence of current asthma symptoms was 9.1% among children, 11.0% among adolescents, and 6.6% among adults.
The lung disease therapeutics market is witnessing significant growth due to the increasing prevalence of respiratory disorders, including chronic obstructive pulmonary disease (COPD), asthma, cystic fibrosis, and pulmonary arterial hypertension (PAH). These diseases pose a substantial burden on global healthcare systems and require effective therapeutic interventions to manage symptoms, improve patient outcomes, and enhance quality of life.
Geographical Landscape
North America, specifically the United States, holds a significant share in the lung disease therapeutics market. The region's dominance can be attributed to factors such as a high prevalence of lung diseases, well-established healthcare infrastructure, robust research and development activities, and favorable reimbursement policies. The United States has a considerable burden of respiratory diseases, including COPD, asthma, and lung cancer. The availability of advanced diagnostic tools, a well-developed healthcare system, and a favorable regulatory environment contribute to the growth of the lung disease therapeutics market in the country.
Competitive Landscape:
The lung disease therapeutics market is characterized by intense competition among key players. The market is fragmented, with several companies operating in the space. Major players are focused on expanding their product portfolio through research and development activities, strategic collaborations, and acquisitions.
Key Market Players:
Market Segments:
By Disease Type
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By Drug Class
By Molecule Type
By Treatment Type
By Distribution Channel
By Geography
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