LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global respiratory drugs market to grow at a CAGR of close to 6% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
The high cost of respiratory disease management is one of the major trends being witnessed in the global respiratory drugs market 2018-2022. Respiratory diseases are a huge burden globally in terms of direct health services costs and indirect costs related to prescribed respiratory drugs. The high cost of respiratory disease management has led organizations such as the Lung Foundation Australia to demand support and funding from the government to reduce the cost burden of respiratory drugs on patients. Also, the British Lung Foundation and the British Thoracic Society opine for cost-effective approaches of respiratory disease management.
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According to Technavio analysts, one of the key factors contributing to the growth of the global respiratory drugs market is an increase in the incidence and prevalence of respiratory disorders:
Global respiratory drugs market: Increase in incidence and prevalence of respiratory disorders
Respiratory disorders are the major cause of mortality and disease burden globally. Respiratory disorders such as COPD, asthma, acute respiratory infections are on the rise. In Germany, between 2009 and 2016, the highest incident rates of acute respiratory infection were recorded, and in the US, nearly 6.7% of all deaths were due to chronic respiratory diseases.
According to a senior analyst at Technavio, “COPD affects more than 200 million people globally. Around 235 million people globally live with asthma; the number of cases has increased in the past three decades in both developing and developed countries. Respiratory diseases account for more than four million deaths in developing countries. Also, pneumonia accounts for 18% of deaths in children under the age of five.”
Global respiratory drugs market: Segmentation analysis
The global respiratory drugs market research report provides market segmentation by type of respiratory disease (asthma, COPD, allergic rhinitis, cystic fibrosis, and other respiratory disorders) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for more than 49% share. It was followed by EMEA and APAC respectively. Factors such as the increase in the prevalence of respiratory diseases and improved knowledge about the prevention of respiratory diseases drive the market in the Americas.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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