2024-2033 Global Lower Respiratory Tract Therapeutics Market Outlook: Projected Size and Growth Rate
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
Lower Respiratory Tract Therapeutics Market Growth Forecast 2024-2033: What’s the Expected Rate?
The market size for therapeutics focused on the lower respiratory tract has seen robust growth in preceding years. It is projected to increase from $32.91 billion in 2023 to $35.8 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 8.8%. This historical growth pattern is steeply correlated with developments like the discovery of new antibiotics, the initiation of vaccination programs, efforts to end smoking, the advancement of inhalation therapy, and enhancement of healthcare infrastructure.
The market size for lower respiratory tract therapeutics is projected to witness substantial growth over the next several years, with an estimated value of $48.37 billion by 2028 and a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period is likely due to factors such as increasing air pollution, an aging demographic, antimicrobial resistance, and environmental factors. The trends that could influence the market over this period include precision medicine methods, technological advances, biologic treatments, the use of telehealth in respiratory care, and personalized inhalation devices.
Claim Your Free Sample of the Global Lower Respiratory Tract Therapeutics Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12591&type=smp
What Factors Are Impacting the Growth of the lower respiratory tract therapeutics Market?
The increase in respiratory illnesses is set to spur the lower respiratory tract therapeutics sector’s growth. When we talk about respiratory diseases, we’re referring to diseases that impair the respiratory system, encompassing the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. The primary application of lower respiratory tract therapeutics is in the early diagnosis and detection of these respiratory disorders, facilitating timely treatment and disease management. This not only halts disease progression but is also crucial in mitigating the infectious spread of respiratory diseases and minimizing the risk of complications. To add context, the NCD Alliance, a Swiss-based civil society organization, reported in September 2022 that lung cancer was the primary cause of cancer-related deaths globally, predicting 2.2 million new cases and 1.8 million fatalities expected annually. Moreover, chronic respiratory diseases affected 550 million adults worldwide, resulting in around 4.2 million deaths, which equates to 7%. Therefore, the upward trend in respiratory illnesses is set to fuel the growth of the lower respiratory tract therapeutics market.
What Are the Fundamental Segments in the Lower Respiratory Tract Therapeutics Market?
1) By Disease Type: Asthma, Chronic obstructive pulmonary disease, Pneumonia, Tuberculosis, Bronchitis, Other Diseases
2) By Drug Class: Antibiotics, Non-Steroidal Anti-Inflammatory Drug, Cough Suppressant, Nasal Decongestant, Other Drug Classes
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
What Trends Are Shaping the New Direction of the Lower Respiratory Tract Therapeutics Market?
In the lower respiratory tract therapeutics market, product innovations have emerged as a significant trend. Many leading companies are launching innovative products in this market to consolidate their market standing. For example, in 2022, AstraZeneca plc, a biotech and pharmaceutical company based in the UK, and Sanofi S.A., a French pharmaceutical company, introduced a product named Beyfortus aimed at mitigating lower respiratory tract disease in newborns and infants. The E.U. has granted its approval for this drug to be utilized in preventing respiratory syncytial virus (RSV) and lower respiratory tract disease in young infants and newborns during the initial RSV season. This is the first ever single-dose RSV passive vaccine suitable for all newborn babies, whether they are healthy, premature, at term, or have specific healthcare concerns.
Order Now for Fast Delivery of Your Lower Respiratory Tract Therapeutics Market Report!
Which Regions Are Making a Mark in the Lower Respiratory Tract Therapeutics Market Growth?
North America was the largest region in the lower respiratory tract therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lower respiratory tract therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Lower Respiratory Tract Therapeutics Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the lower respiratory tract therapeutics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Lower Respiratory Tract Therapeutics Market Include
1. Lower Respiratory Tract Therapeutics Market Executive Summary
2. Lower Respiratory Tract Therapeutics Market Segments
3. Lower Respiratory Tract Therapeutics Market Size And Template Market Growth Rate
4. Key Lower Respiratory Tract Therapeutics Market Trends
5. Major Lower Respiratory Tract Therapeutics Market Drivers
……
25. Key Mergers And Acquisitions In The Lower Respiratory Tract Therapeutics Market
26. Top Lower Respiratory Tract Therapeutics Companies
27. Lower Respiratory Tract Therapeutics Market Opportunities And Strategies
28. Lower Respiratory Tract Therapeutics Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Neurodegenerative Disorder Therapeutics Global Market Report 2024
Antisense & RNAi Therapeutics Global Market Report 2024
Digital Therapeutics Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/digital-therapeutics-global-market-report
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
