NEWARK, Del, March 26, 2024 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI), global respiratory biologics market are estimated to be worth US$ 8,154.6 million in 2024. The market is expected to reach US$ 42,319.9 million, expanding at a CAGR of 17.9% through 2034. The global prevalence of respiratory diseases is surging, fueled by factors such as air pollution, smoking, and aging populations are driving the demand for respiratory biologics.
As the global population ages, respiratory diseases are anticipated to escalate, placing heightened strain on healthcare systems. In response to these challenges, there is a burgeoning demand for respiratory biologics offering targeted medication delivery to the lungs.
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Respiratory biologics have significantly transformed the respiratory treatment landscape by offering targeted approaches to modulate specific pathways involved in the pathogenesis of respiratory diseases. This precision targeting not only improves symptom control but also reduces exacerbations, enhances lung function, and enhances patients' quality of life.
In navigating the evolving landscape of respiratory health, respiratory biologics stand out as a promising avenue for advancing therapeutic strategies and improving the quality of care for individuals grappling with respiratory conditions.
Key Takeaways from the Market Study:
- Asthma is set to hold a lucrative market share of 82.3% by disease indication in 2024.
- By route of administration, the intravenous segment held a 67.0% market value share in 2023.
- France is projected to rise at 16.3% CAGR during the forecast period
- The United States is expected to exhibit a CAGR of 13.7% throughout the forecast period.
- By 2034, China is expected to grow with a CAGR of 18.9%.
"The respiratory biologics market is advancing in research and development to expand treatment options and address medical needs. However, challenges such as high costs, access barriers, potential side effects, and complexities in the regulatory landscape pose significant challenges for manufacturers in the market," opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Competitive Landscape:
The respiratory biologics market encourages collaborative innovation, with pharmaceutical companies and outsourcing collaborating to advance technologies, overcome challenges, and bring novel therapies to market.
For instance,
- In July 2020, Teva Pharmaceuticals announced a new strategic emphasis in Japan. The company redirected its business venture in Japan, prioritizing specialty assets and a curated generics portfolio tailored to patients' specific medical requirements.
- In October 2021, Amgen acquired Teneobio, Inc. to advance its research and development activities to develop highly innovative patient products.
Key Companies Profiled:
- GSK plc.
- AstraZeneca
- Sanofi and Regeneron Pharmaceuticals, Inc.
- Genentech USA, Inc.
- Teva Respiratory, LLC.
- Novartis Pharmaceuticals Corporation
- GlaxoSmithKline
- Novartis
- Roche
- Boehringer Ingelheim
- Regeneron Pharmaceuticals
- Merck & Co.
- Johnson & Johnson
- Amgen
- Biogen
- Vertex Pharmaceuticals
- Genentech (a member of the Roche Group)
- AbbVie
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Respiratory Biologics Market Segmentation by Category:
By Disease Indication:
- Asthma
- Moderate to Severe Asthma
- Severe Asthma
- Severe Eosinophilic Asthma
- Chronic Rhinosinasitis
- Hypereosinophilic Syndrome
By Route of Administration:
- Intravenous
- Subcuteneous
By Sales Channel:
- Hospitals
- Specialty Clinics
- Retail Pharmacies
- Mail Order Pharmacies
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Explore FMI’s related ongoing Coverage on Healthcare Market Insights Domain:
- Orthobiologics Market Size: The orthobiologics market is anticipated to expand its boundaries at a CAGR of 3.0% during the forecast period. The market holds a share of US$ 6.0 billion in 2023, while it is expected to cross a value of US$ 8.1 billion by 2033.
- Respiratory Pathogen Testing Kits Market Share: As per the latest market research conducted by FMI, the global respiratory pathogen testing kits market is expected to record a CAGR of 5.7% from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 4,083.1 million. By 2033, the valuation is expected to be worth US$ 7,136.8 million.
- Molecular Respiratory Panels Market Growth: The molecular respiratory panels market size is projected to be worth US$ 1.1 billion in 2023. The market is likely to surpass US$ 2.0 billion by 2033 at a CAGR of 6.3% during the forecast period.
- Respiratory Distress Syndrome Management Market Demand: The global respiratory distress syndrome management market is slated to reach a valuation of US$ 115.4 billion in 2023. According to Future Market Insights, the market is expected to grow at a 4.41% CAGR until 2033, valued at US$ 177.7 billion.
- Respiratory Inhaler Devices Market Trends: The global respiratory inhaler devices market size is anticipated to attain an impressive valuation of US$ 37,258.5 million in 2023 and is projected to reach US$ 60,114.7 million by 2033, trailing a CAGR of 4.90% during the forecast period.
- Respiratory Devices Market Opportunity: The respiratory devices market size is projected to be valued at US$ 24.2 Billion in 2023 and is expected to rise to US$ 55.9 Billion by 2033. The sales of respiratory devices are expected to grow at a significant CAGR of 8.7% during the forecast period.
- Respiratory Measurement Devices Market Overview: The global respiratory measurement devices market was valued at around US$ 7.9 Billion at the end of 2021. The market is projected to register a 5.1% CAGR and top a valuation of US$ 13.5 Billion by 2032.
- Human Respiratory Syncytial Virus (RSV) Treatment Market Outlook: In 2022, the human respiratory syncytial virus (RSV) treatment market is anticipated to be worth US$ 1,533.74 million in terms of revenue. The market is projected to expand at a CAGR of 11% to reach a market size of US$ 4,354.93 million by 2032.
- Respiratory Analysers Market Development: The global respiratory analysers market is anticipated to be worth US$ 2.99 Billion in terms of revenue in 2022. The market is projected to expand at a CAGR of 15.87% to reach a market size of US$ 13.04 Billion by 2032.
- Pediatric Respiratory Syncytial Virus Infection Market Forecast: The global pediatric respiratory syncytial virus infection market is valued at US$ 2,041 million as of 2022. The market is expected to grow at a CAGR of 15.2% during the period 2022-2032, and is projected to be valued at US$ 8,401.71 million by 2032.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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