May 22, 2024
Bronchodilators Market

The Growth of the Global Bronchodilators Market is driven by Increasing Prevalence of Respiratory Diseases

The Global Bronchodilators Market is a valuable market with a wide range of bronchodilator products providing relief from respiratory diseases that are very common. Bronchodilators help open narrowed airways and make breathing easier by relaxing and dilating the muscles in the airways. Common conditions treated are asthma, chronic obstructive pulmonary disease (COPD), and other respiratory diseases.

The Global Bronchodilators Market is estimated to be valued at US$ 22.85 BN in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Bronchodilators Market are GSK plc., AstraZeneca, Mylan N.V., Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals Limited, Novartis AG, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Cipla Inc., Sunovion Pharmaceuticals Inc., Sanofi and Innoviva. The key players are focusing on developing innovative bronchodilator therapies and formulations.

The growing Bronchodilators Market Demand for bronchodilators is driven by the rising prevalence of respiratory diseases worldwide. Conditions like asthma and COPD affect millions globally and require lifelong treatment with bronchodilators. According to the WHO, around 235 million people suffer from asthma while over 329 million people have COPD.

The Global Bronchodilators Market is expanding significantly across various regions due to the rising awareness and diagnosis of respiratory diseases. Countries with high incidence of pollution and smoking have high bronchodilator usage. Europe dominates currently due to high COPD burden while Asia Pacific is expected to grow fastest due to emerging economies, pollution and growing smoking rates.

Market key trends

One of the major trends in the Global Bronchodilators Market is the growing preference for long-acting bronchodilators. Earlier, short-acting bronchodilators provided temporary relief and needed to be taken multiple times a day. However, novel formulations extend the duration of action providing all-day relief with dosing once or twice daily. This drives better compliance and management of respiratory symptoms.

Porter’s Analysis

Threat of new entrants: New companies find it difficult to enter the market due to expensive R&D costs and established brands.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and providers.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative ingredient sources and providers.

Threat of new substitutes: Potential threat from alternatives like medications for asthma and COPD.

Competitive rivalry: Intense competition exists between major players to gain market share.

Geographically, North America accounts for the largest share of the global bronchodilators market due to rise in incidence of respiratory diseases and developed healthcare infrastructure in the region. The United States holds the major share in North America bronchodilators market.

Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing pollution levels, growing smoking population, rising geriatric population, and improving healthcare facilities in several APAC countries. Rapid economic development and rising medical tourism in various Asia Pacific countries such as India and China are also propelling the growth of bronchodilators market in this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it