The global bronchodilator market value is predicted to increase from USD 38.2 billion in 2024 to USD 67.8 billion by 2034. Over the forecast period, global bronchodilator sales are projected to rise at a CAGR of about 5.9%.
Several factors are anticipated to spur growth in the bronchodilator industry. These include the rising prevalence of respiratory diseases such as asthma and COPD, the growing geriatric population, and increasing government initiatives and programs.
The rising geriatric population globally is emerging as a key factor driving demand for bronchodilators. As age increases, people become more susceptible to lung problems. According to the journal Clinical Interventions in Ageing, the aging population is significantly impacted by pulmonary illness.
The third most common cause of death in adults 65 and older is chronic lower respiratory tract disease, comprising asthma, emphysema, chronic bronchitis, bronchiectasis, and chronic obstructive pulmonary disease (COPD). Bronchodilators have become essential medication for treating these diseases and relieve their symptoms.
Exposure to air pollution increases the risk of developing non-communicable diseases such as lung cancer, chronic obstructive pulmonary disease (COPD), ischemic heart disease, and stroke. The growing prevalence of these diseases is set to bolster sales of bronchodilators through 2034.
Governments worldwide are also supporting the growth of the global bronchodilator market by increasing awareness among the population through patient education programs. These are the reasons why the market for bronchodilators is expanding.
Key players are focusing on novel product development with enhanced efficacy. They are investing heavily in research and development to develop new medications for respiratory diseases. For instance, Glenmark recently introduced Tavulus for the treatment of COPD in Spain.
Key Takeaways from the Market Study-
- The global bronchodilator market is expected to total USD 67.8 billion in 2034.
- By drug class, the phosphodiesterase inhibitor segment is set to thrive at a CAGR of 2%.
- Based on indication, the asthma segment held a market share of about 2% in 2023.
- By route of administration, the oral segment is poised to exhibit a CAGR of 4% through 2034.
- By distribution channel, retail pharmacies accounted for a market share of 4% in 2023.
- North America dominated the global market with a value share of 5% in 2023.
- The United States market is set to expand at 1% CAGR through 2034.
- Demand in India is projected to increase at a CAGR of 2% between 2024 and 2034.
“The rising prevalence of lung diseases such as COPD and asthma is expected to drive demand for bronchodilators during the forecast period. Subsequently, increasing government initiatives to reduce the burden on the healthcare system is set to propel the growth of the bronchodilator industry globally,” says an analyst of Future Market Insights (FMI).
Increased Market Demand: Get In-Depth Analysis and Insights with Our Complete Report!
Competitive Landscape
Bronchodilator manufacturers are operating at full capacity to meet the increasing demand globally. They are launching novel products and adopting strategies such as mergers, partnerships, acquisitions, and collaborations to boost their revenue and expand their footprint.
For instance,
- In May 2020, Glenmark launched a 3-in-1 inhaler therapy for COPD in India with the promise of lowering the likelihood of severe attacks and enhancing lung function.
- In April 2019, Circassia announced that the FDA had approved Duaklir for the maintenance treatment of chronic obstructive pulmonary disease.
Key Players:
- Abbott Laboratories
- AstraZeneca plc.
- Boehringer Ingelheim International GmbH
- GlaxoSmithKline Plc.
- F. Hoffmann-La Roche Ltd.
- Novartis AG.
- Pfizer Inc.
- SANOFI
- Teva Pharmaceutical Industries Ltd.
- Vectura Group Plc.
- Sunovion Pharmaceuticals Inc
- Aerogen Pharma Ltd
- Aurobindo Pharma Ltd.
- Cipla Ltd.
Bronchodilator Market Outlook by Category:
By Drug Class:
- Sympathomimetic
- Anticholinergics
- Phosphodiesterase Inhibitor
- Combination Drugs
- Others
By Application:
- Asthma
- COPD
- Others
By Route of Administration:
- Oral
- Injection
- Inhalation
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- E-commerce
- Drug Stores
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube