COVID-19 has the potential to cause significant damage to multiple organs, with the lungs being the most frequently affected. The persistent respiratory symptoms and sequelae associated with COVID-19 have imposed substantial challenges on global healthcare systems and economies. This article aims to: (1) summarize the incidence and burden of major respiratory sequelae following COVID-19 infection, (2) outline current therapeutic approaches and medications for their management, (3) evaluate the preliminary efficacy of these treatments, and (4) identify key limitations and challenges in understanding, diagnosing, and managing these conditions.