The bronchodilators market is rising pervasively, mainly due to increasing technological improvements in bronchodilators over the recent past. Bronchodilators are used rigorously for all respiratory disorders. Hence, a rise in the prevalence of COPD, pulmonary disorders, and asthma drives market growth predominantly. Moreover, growing government initiatives for creating awareness among the population escalate the market to furthered height.
Bronchodilators companies are investing substantially to drive RD activities and clinical trials, which, in turn, impact the market growth positively. Growing funding support by government organizations, alongside the rise in disposable income, foster the growth of the market excellently. According to Market Research Future (MRFR), the global bronchodilators market is projected to reach a valuation of USD 2,484 MN by 2025, registering 5.3% CAGR during the review period (2019 – 2025).
Additional factors, such as the growing technological advancements, alongside the increasing geriatric population and other diseases disorders associated with the lungs, drive a significant share of the market. Moreover, the augmenting demand for minimally invasive treatments for the management of respiratory diseases contributes to market growth.
Conversely, the side effects associated with bronchodilators market are estimated to hamper the growth of the market during the assessment period. Also, government regulations related to the safety efficacy of the bronchodilators are impeding the growth of the market. Nevertheless, increasing initiatives by the public and private sectors alongside the growing number of regulatory clearances would support the market growth throughout the predicted period.
Players leading the bronchodilators market include Novartis AG (Switzerland), GlaxoSmithKline (UK), Merck Co., Inc. (US), Boehringer Ingelheim GmbH (Germany), Abbott Laboratories (US), AstraZeneca plc (UK), Teva Pharmaceutical (Israel), Hoffmann LA-Roche AG (Switzerland), Pfizer Inc. (US), among others.
The analysis has been segmented into five major dynamics.
- By Drug Type: Adrenergic Drugs, Anticholinergics, Phosphodiesterase Inhibitor, Combination Drugs, and others.
- By Disease: Asthma, COPD, and others.
- By Mode of Action: Short-Acting Bronchodilators and Long-Acting Bronchodilators.
- By Route of Administration: Oral, Parenteral, and others.
- By Regions: Europe, Americas, Asia Pacific, Middle East Africa, and Rest-of-the-World.
North America dominates the global Bronchodilators market. The largest market share attributes to the rising cases of asthma, increased awareness levels for available treatment options, and the adoption of inhaled therapeutics. Besides, factors such as the high healthcare expenditure and the high adoption of advanced technology drive the Bronchodilators market in the region. Furthermore, increasing funding for research by private public organizations would boost the growth of the Bronchodilators market in North America.
Europe stands second in the global Bronchodilators market, heading with the growing presence of the developed pharmaceutical industry in the region. Moreover, the significant demand for asthma-related therapeutics, alongside the rising cases of COPD and asthma are driving the bronchodilators market in Europe. The penetration of well-established healthcare systems, an increase in COPD cases, and the involvement of key companies are the major factors spurring the growth in the market. The European Bronchodilators market is expected to grow considerably over the forecast period.
The Asia Pacific Bronchodilators market is anticipated to register a substantial CAGR during the forecast period. The region is seeing a surge in the number of people who have asthma and other respiratory disorders. The increasing government initiatives for healthcare reforms are driving the growth of the Bronchodilators market in the APAC region.
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