Chronic Respiratory Diseases Treatment Market | 2032

Report Description

Chronic Respiratory Diseases Treatment Market Outlook 2032

The global chronic respiratory diseases treatment market size was USD 199 Billion in 2023 and is likely to reach USD 856.1 Billion by 2032, expanding at a CAGR of 17.6% during 2024–2032. The market growth is attributed to the high prevalence of COPD and other lungs related health issues across the globe.

Chronic respiratory illnesses are the conditions affecting the airways and other lung structures. Asthma, pulmonary hypertension, occupational lung illnesses, and chronic obstructive pulmonary disease (COPD) are among the most prevalent ones of these diseases. Risk factors for such diseases include tobacco smoke, occupational chemicals & dusts, air pollution, and frequent lower respiratory infections during childhood.

• According to World Health Organization (WHO), approximately three million people die every year due to some major respiratory diseases.

There is no cure for persistent respiratory conditions. However, various treatments help in dilating airways (bronchi) and improving shortness in breath that help in controlling symptoms and improving the quality of life for people with the disease.

The WHO Tobacco Free Initiative aims to enhance surveillance data on tobacco use, exposure, and health outcomes. The Framework Convention on Tobacco Control mandates Member States to consistently collect national data on tobacco use and exposure. Sustainable surveillance systems are crucial for monitoring progress in tobacco control. The Regional Action Plan for Tobacco Control in the Western Pacific (2020-2030) emphasizes multisectoral collaboration and addressing emerging nicotine and tobacco products.

Chronic respiratory diseases, including asthma, COPD, and respiratory allergies, are common and exacerbated by factors such as tobacco smoke, indoor & outdoor pollution, allergies, low birth weight, poor nutrition, and occupational dusts. Socioeconomically disadvantaged populations are particularly vulnerable due to exposure to unsafe environments, lack of recognition, and higher tobacco use.

• According to World Health Organization (WHO), more than 90% deaths due to COPD occurs in low income and middle-income countries. In 2019, over 0.45 million deaths among 250 million patients were caused by asthma.

• In 2019, 44.3% of children with asthma under the age of 18 reported experiencing regular asthma attacks. The number is rising annually and fueling the expansion of the global market during the projection period.
  

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Impact of Artificial Intelligence (AI) in the Chronic Respiratory Diseases Treatment Market

Artificial Intelligence (AI) is a significant tool in managing chronic respiratory diseases such as asthma and COPD. It optimizes diagnosis and treatment strategies, providing valuable insights into exacerbation risk, disease progression, and mortality. AI operates through machine learning, enhancing the understanding of these conditions and enabling personalized therapy as well as improved outcomes. However, bridging the knowledge gap between respiratory clinicians and data scientists remains crucial for wide AI adoption. This technology is essential for managing these conditions effectively and providing more effective care.

Artificial intelligence (AI) has the potential to significantly improve the treatment of chronic respiratory diseases by enhancing diagnosis, treatment, and management. AI algorithms identify patterns and anomalies that humans struggle to detect, leading to increasingly accurate diagnoses. AI develop personalized treatment plans for patients by analyzing their medical history, genetic information, and other relevant data for identifying the effective treatment options for each patient.

Remote monitoring of patients with chronic respiratory diseases achieved through AI-powered devices and applications, allow healthcare providers to track symptoms and intervene early to prevent exacerbations and reduce hospitalizations. AI also help identify potential drug targets and predict the effectiveness of different treatment options, reducing the time and cost associated with traditional drug development methods.

Chronic Respiratory Diseases Treatment Market Dynamics

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Major Drivers

Increasing number of COPD patients is increasing the burden of chronic respiratory disease and requirement of a specialized treatment development. COPD is one of the major chronic respiratory diseases, resulting in 90% of death rate, driving the R&D activities in CRD treatment and expanding the global market.

Rising number of smoking population and tobacco consumption holds a high the market share. Moreover, the growing air pollution due to mining activities, increasing urbanization, and dust & pollen is boosting the number of chronic respiratory disorders and boosting the market. Additionally, high usage of fuels required for vehicles is also driving the market, as fuel fumes cause difficulty in breathing and other sever conditions.

Growing disease awareness and rising concerns for an early detection as well as need for treatment driving the market. Advancements in disease detection and latest treatment strategies such as genome editing and CRISPER-Cas9 are expected to drive the global market during the forecast period.

Existing Restraints

Absence of COPD cure is expected to restrain the market in the coming years. Additionally, the side effects associated to the medications to reduce the symptoms are strongly hindering the global market.

Strict government guidelines for the drug approval and the long waiting time for the process to take place hamper the market significantly. Additionally, the high cost of drug development, costly treatment plans, and a lack of reimbursement policies in certain nations are restraining the market. Patients are required to treat their symptoms by taking expensive medication for the rest of their lives without access to reimbursement programs, as CRD does not have a cure.

Emerging Opportunities

Development of smart inhalers offer opportunities in the market. These inhalers remind patients to take their dosages on time, easily and automatically, based on the time of the last administration. These also warn patients of missed or repeated doses. Reminders are sent from smart inhalers to the patient through watch or mobile phones.

Patients with COPD or asthma use digital inhalers to manage their condition, recognize triggers, communicate with their doctors, and gather important research data. The technology helps track inhaler usage, remind patients when to take their medications, and make it easy for patients to follow treatment plans by establishing pertinent alerts or notifications. Certain digital inhalers have the ability to monitor elevated pollution or pollen levels as well as notify users in the event that they forget to bring their devices with them.

Telehealth is marketed as having the ability to provide universal health coverage by offering accessible and affordable care, especially for elderly and vulnerable people as well as those residing in remote locations. COVID-19 pandemic has significantly impacted the telehealth sector, advocating for the use of remote methods to track the development of COVID-19 in individuals who are at risk, demonstrating the possibility of safely continuing to provide care for patients with noncommunicable respiratory illnesses, and assisting with self-management in lockdown.

Scope of the Chronic Respiratory Diseases Treatment Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Chronic Respiratory Diseases Treatment Market Segment Insights

Indication Segment Analysis

Based on indication, the market is divided into asthma, COPD, occupational lung disease, and pulmonary hypertension. The COPD segment is expected to expand at a significant growth rate during the projection period. COPD is one of the leading causes of death and of poor health across the globe. Additionally, smoking & air pollution are also causing COPD and eventually boosting the market share.

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Drug Class Segment Analysis

On the basis of drug class, the global market is segregated into corticosteroids, bronchodilators, mucolytic agents, antibiotics, and others. The corticosteroids segment is anticipated to register a considerable CAGR in the coming years. Inhaled corticosteroids are extensively used for treating common respiratory conditions to severe ones, due to their broad-spectrum anti-inflammatory activity. Additionally, the increasing improvement in lung functioning and quality of life is decreasing the disease progression and hence boosting the segment.

The bronchodilators segment is expected to rise significantly during the forecast period. Bronchodilators relives the symptoms of Asthma and COPD by quickly relaxing muscle bands around bronchi. These are used to reverse asthma symptoms or improve lung function.

Mode of Purchase Segment Analysis

On the basis of mode of purchase, the chronic respiratory diseases treatment market is segmented into over-the-counter drugs and prescription-based drugs. The prescription-based drugs segment is expected to register a robust growth rate during the forecast period. Prescription-based medications often drive the sale of medications used to treat respiratory diseases, as over-the-counter versions have serious negative effects.

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Distributional Channel Segment Analysis

Based on distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is expected to expand at a significant growth rate during the forecast period. The hospital pharmacies segment accounts for 35% of the total market share, due to the large hospital admissions of chronic respiratory patients and availability of advanced infrastructure. Hospitals with their large patient base and availability of large medicine stocks in the hospital pharmacies are accelerating the segment and is expected to expand significantly during the projection period.

Regional Analysis

In terms of region, the global chronic respiratory diseases treatment market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America is expected to dominate the market with 37% of total market share during the forecast period. North America, with its sophisticated healthcare system, has the ability to provide top treatment strategies with its advanced infrastructure.

The market in North America is expected to expand during the forecast period, due to the favorable reimbursement policies in the region. Severy key players residing in this region and the increasing rate of investment in the R&D activities is driving the North America market significantly. Additionally, the rising mergers and acquisition in the region with successful product launch is further boosting the market.

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