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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https://www.futuremarketinsights.com/reports/sample/rep-gb-19249Respiratory 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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https://www.futuremarketinsights.com/request-report-methodology/rep-gb-19249Competitive 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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