Global Respiratory Market “to be Worth $41.3 billion by 2023”

The global marketplace for respiratory diseases-across US, France, Germany, Italy, Spain, the UK, and Japan-are predicted to surpass $41.3 billion in sales by 2023, with a growth rate of 4.2% from 2016-2023, according to GBI Research, a business intelligence provider.

The company’s latest report shows that the market growth will be sustained by new biologics approval and targeted therapies, specifically treating asthma and cystic fibrosis.

The patent expirations of Advair, Symbicort, Ventolin, and Spiriva will allow generics to enter the market, but the impact of these expirations on market growth will be offset by the approval of new products, extended patents of drug delivery devices and the difficulty in manufacturing such devices. The presence of biologics in the pipeline is growing, which reflects the recent market trend, particularly in asthma, for targeted biologics aimed at specific patient sub-types. Examples of such therapies include the recent approvals Nucala and Cinqair, which supplement a market traditionally dominated by commercially successful small molecules. This trend appears to be continuing in the development landscape, with biologics also being developed for other respiratory disorder indications.

Detailed information based on the GBI Research report can be found here: Information based on the GBI Research report: ‘Global Respiratory Drugs Market to 2023 – A Changing Therapeutic Landscape as Key Patents Expire and Biologics, Targeted Therapies and CFTR Modulators for Asthma and Cystic Fibrosis Treatment Emerge as Market Growth Drivers’