The global bronchodilator drug market was valued at US$44.790 billion in 2020. The market is projected to grow at a CAGR of 10.69% to attain a value of US$91.220 billion by 2027.
A bronchodilator acts by relaxing the airways in the lungs, facilitating easy and relaxed breathing. Bronchodilator drugs help in treating various lung conditions such as asthma, chronic obstructive pulmonary disease (COPD), and other respiratory diseases. The global market for bronchodilator drugs is increasing due to the rising incidence of various respiratory diseases worldwide. The increase in the prevalence of respiratory disorders such as asthma, and chronic obstructive pulmonary disease (COPD) worldwide is increasing the demand for bronchodilator drugs. The increasing air pollution due to rising industries and the increasing number of automobiles on the road around the world is the reason for growing respiratory problems. According to the WHO data, 7 million deaths were reported due to the joint effects of household (HAP) and ambient air pollution (AAP) in 2016 globally, with around 94 percent occurring in low and middle-income (LMI) countries. The growing global ageing population is another driver of the global bronchodilator drug market. According to the World Bank data, the percentage of the population aged 65 and above increased from 7.49 in 2009 to 8.87 in the year 2018. The increase in the geriatric population is due to improved health facilities around the world and people living a better lifestyle that includes better food quality and other facilities required for living.
The global bronchodilator drug market is segmented by disease type, route of administration, and geography. On the basis of disease type, the global bronchodilator drug market is segmented into asthma, chronic obstructive pulmonary disease (COPD), and others. By route of administration, the market segmentation is done as oral, injection, and inhaler.
Asthma and COPD prevalence around the world is rising
The increasing prevalence of asthma is increasing the demand for bronchodilator drugs. According to the World Health Organization (WHO), globally, 235 million people are living with asthma with 80% of asthma-related deaths occurring in low and lower-middle-income countries. According to the World Health Organization (WHO) 251 million cases of COPD globally in 2016 and it is estimated that 3.17 million death was caused by the disease in 2015. With the rising prevalence of these respiratory diseases due to increasing smoke and air pollution, the demand for bronchodilator drugs will continue to grow, thereby bolstering the global bronchodilator drug market growth in the forecast period.
By geography, North America holds a significant market share
Regionally, the global bronchodilator drug market is classified into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific. The rising number of people suffering from COPD and asthma, supported by the presence of major market players in the region, is fueling the market growth of bronchodilator drugs in North America. As per the statistics derived by the Asthma and Allergy Foundation of America, asthma causes 1.8 million ER visits, 188,968 hospital inpatient discharges, and 9.8 million hospital visits annually in the United States. The presence of large pharmaceutical companies coupled with high investment in research and development of advanced medicines is also driving the bronchodilator drug market growth in the region. The Asia Pacific bronchodilator drug market is expected to witness a substantial compound annual growth rate during the forecast period. The rising incidence of COPD in countries like China, India, and South Korea is significantly driving the demand for bronchodilator drugs in the region. The increasing number of pharmaceutical companies entering this regional market is further fueling the APAC bronchodilator drug market in the APAC region. Supportive government initiatives while improving healthcare infrastructure are also driving the market for bronchodilator drugs in the Asia Pacific region.
COVID-19 had a positive impact on the global bronchodilator market. The rapid spread of the pandemic had worsened the progression of respiratory diseases in patients. Furthermore, bronchodilators were also used in covid patients to provide relief, causing the demand for the products to increase. Such factors have led to the growth of the market size.
|Market Size Value in 2020||US$44.790 billion|
|Market Size Value in 2027||US$91.220 billion|
|Growth Rate||CAGR of 10.69% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Disease, Route of Administration, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., GlaxoSmithKline plc., Merck & Co., Inc., Novartis AG, Verona Pharma plc, Pfizer Inc., Abbott, AstraZeneca plc|
|Customization Scope||Free report customization with purchase|
Key Market Segmentation
Frequently Asked Questions (FAQs)
Q1. What will be the bronchodilator drug market size by 2027?
A1. The global bronchodilator drug market is projected to reach a total market size of US$91.220 billion in 2027.
Q2. What are the growth prospects for the bronchodilator drug market?
A2. The bronchodilator drug market is projected to grow at a CAGR of 10.69% during the forecast period.
Q3. What is the size of the global bronchodilator drug market?
A3. Bronchodilator Drug Market was valued at US$44.790 billion in 2020.
Q4. What factors are anticipated to drive the bronchodilator drug market growth?
A4. The global market for bronchodilator drugs is increasing due to the rising incidence of various respiratory diseases worldwide.
Q5. Which region holds the largest market share in the bronchodilator drug market?
A5. North America holds a significant share of the bronchodilator drug market owing to the rising number of people suffering from COPD and asthma, supported by the presence of major market players in the region.
1.1. Market Overview
1.2. COVID-19 Impact
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Bronchodilator Drug Market Analysis, By Disease Type
5.3. Chronic Obstructive Pulmonary Disease (COPD)
6. Global Bronchodilator Drug Market Analysis, By Route of Administration
7. Global Bronchodilator Drug Market Analysis, By Geography
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.3. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. F. Hoffmann-La Roche Ltd
9.2. Gilead Sciences, Inc.
9.3. GlaxoSmithKline plc.
9.4. Merck & Co., Inc.
9.5. Novartis AG
9.6. Verona Pharma plc
9.7. Pfizer Inc.
9.9. AstraZeneca plc
F. Hoffmann-La Roche Ltd
Merck & Co., Inc.
Verona Pharma plc
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