Types of treatment
Immune suppressants and corticosteriods
These drugs are used to suppress the immune system in some lung diseases that are caused by an over active immune system. They are often used to treat
inflammation. Some patients can achieve fairly good control of their conditions with these medications. You should discuss side effects of long term use with your doctor.

Nebulisers
Liquid drugs such as Salbutamol and Atrovent are turned into a fine mist that can inhaled directly into the lungs. The majority of drugs delivered by inhaler are to ease bronchospasm or 'tightness' of the chest.
Inhalers
These are devices designed to deliver drugs directly to the lungs, so that they go where the disease is and minimise effects to other parts of the body. Many different drugs can be given via inhaler, but the most common ones are corticosteriods, which are used to damp down airway inflammation and bronchodilators of various types which are used to try and open up airways.
Intravenous and Long Term Antibiotics
Typically used during chest infections but some antibiotics such as Azithromycin have been found to have anti-inflammatory properties and are used long term. 
Painkillers
Pain can be a feature of lung disease for many reasons, such as pain from pleurisy (inflammation of the lining of the lung), from rib fractures due to coughing, from overworked respiratory muscles or as the side effect of medicaions. The exact painkiller used will depend on the patient and cause of pain and there are several classes of painkiller, all may not be suitable for people with lung disease.
Oxygen therapy
At all times, the body is taking in oxygen and releasing carbon dioxide. If this does not happen adequately, the oxygen in the blood will decrease, and the person may need extra oxygen. Oxygen therapy benefits the patient by increasing the supply of oxygen to the lungs and thereby increasing the availability of oxygen to the body tissues. The air we breathe contains 21% oxygen - a gas vital to every cell in our body. People with lung problems may have to work much harder to obtain all the oxygen they need. The extra effort involved can cause breathlessness and tiredness, particularly after walking or coughing. Doctors have found that, for some people, breathing air with a higher concentration of oxygen can reduce these symptoms. This treatment is not helpful for everyone with lung problems and your respiratory specialist will assess whether extra oxygen is appropriate. This is done by some simple tests to measure the amount of oxygen in the blood.
Types of oxygen treatment. Oxygen can be obtained from compressed oxygen cylinders, liquid oxygen in cylinders or from an oxygen concentrator machine, which extracts oxygen from the air. If you use oxygen for short periods to relieve attacks of breathlessness you will probably be prescribed oxygen cylinders. For people who would benefit from oxygen for a significant number of hours a day, often taken whilst asleep, oxygen concentrator machines are more convenient and cost effective. You can buy small portable oxygen cylinders (though they are quite expensive). Some are handbag size and are useful for occasional or emergency use whilst out and about. They can be found in sports outlets and some chemists.
You can find out more information about oxygen therapy on the British Lung Foundation site. www.lunguk.org