Global Bronchodilators Market Is Anticipated To Witness Steady Growth
Bronchodilators are medications that help open up constricted, or narrowed, airways in the lungs. They work by relaxing and dilating (widening) the airways. This allows for easier breathing and improves airflow. Bronchodilators are primarily used to provide symptomatic relief from reversible airway obstruction in respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). The global bronchodilators market is dominated by short-acting beta-agonists and anticholinergics.
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 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 rising patient pool for respiratory diseases such as asthma and COPD present lucrative opportunities for bronchodilator manufacturers. The increasing number of adults and children diagnosed with asthma and COPD cases globally is expected to drive market growth. Manufacturers are focusing on expansion in emerging markets like Asia Pacific, Middle East and Latin America owing to higher growth opportunities.
Market drivers and restraints
The high prevalence of COPD around the world is the key driver propelling the Bronchodilators Market Demand. As per the World Health Organization (WHO), COPD affects over 380 million people worldwide and is projected to become the third leading cause of death by 2030. An aging global population coupled with rising ambient air pollution levels are significant contributors to the rising COPD burden.
However, availability of alternative treatment options and patent expiration of major bronchodilator drugs are expected to restrain market growth to a certain extent. The rising preference for combination therapies over single-drug therapies for respiratory diseases can also hamper revenue generation in the bronchodilators market during the forecast period. Lack of awareness regarding COPD and its management in developing nations remains a longstanding challenge.
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