Precision Medicine Gains Popularity In The Respiratory Diseases Drugs Market
October 13, 2021
The Business Research Company’s Respiratory Diseases Drugs Global Market Report 2021 - COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, October 13, 2021 /EINPresswire.com/ -- Companies in the respiratory drugs market are offering drugs for customized individual treatment for better treatment against respiratory diseases. Personalized medicine, also referred to as precision medicine, aims to provide medical care according to the patient’s individual characteristics and genetic makeup. Precision therapies are increasingly being adopted in the respiratory drugs market as firms increasingly let go of the one-size-fits-all model for common respiratory conditions. Companies such as GSK, Teva Pharmaceuticals and AstraZeneca have already invested in personalized medicine for respiratory issues such as asthma. For example, PTC Therapeutics is developing a drug which aims to cater to a respiratory mutation which affects about 10% of the population.
Major players covered in the global respiratory diseases drugs industry are GlaxoSmithKline Plc, AstraZeneca Plc, Merck & Co, Novartis AG, Johnson & Johnson.
North America was the largest region in the global respiratory disease drugs market, accounting for 48% of the market in 2020. Western Europe was the second largest region, accounting for 19% of the global respiratory diseases drugs market. Africa was the smallest region in the global respiratory diseases drugs market.
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The global respiratory diseases drugs market size is expected to decline from $90.32 billion in 2020 to $79.82 billion in 2021 at a compound annual growth rate (CAGR) of -11.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $98.81 billion in 2025 at a CAGR of 5%.
TBRC’s global respiratory diseases drugs market report is segmented by type into anti-asthmatics and COPD drugs, cough and cold preparations, by distribution channel into hospital pharmacies, retail pharmacies/ drug stores, others, by route of administration into oral, parenteral, others, by drug classification into branded drugs, generic drugs, by mode of purchase into prescription-based drugs, over-the-counter drugs.
Respiratory Diseases Drugs Global Market Report 2021 - By Type (Anti-Asthmatics And COPD Drugs, Cough And Cold Preparations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others), By Route Of Administration (Oral, Parenteral, Others), By Drug Classification (Branded Drugs, Generic Drugs), By Mode Of Purchase (Prescription-Based Drugs, Over-The-Counter Drugs), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides respiratory diseases drugs market overview, forecast respiratory diseases drugs market size and growth for the whole market, respiratory diseases drugs market segments, and geographies, respiratory diseases drugs market trends, respiratory diseases drugs market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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