Global Bronchodilator Drug Market was valued at US$40.623 billion in 2019. A bronchodilator is a medication that relaxes and opens the airways, or bronchi, in the lungs. 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, chronic obstructive pulmonary disease (COPD) worldwide is growing 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 occurred in low and middle-income (LMI) countries. The growing global aging population is another driver of the global bronchodilator drug market. According to the World Bank Data, the percentage of 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 by geography. On the basis of disease type, the global bronchodilator drug market is segmented as 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 occur 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 during the next five years.
By geography, North America holds a significant market share
Regionally, the global bronchodilator drug market is classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America accounted for the major market share in 2019. 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. According to the Asthma and Allergy Foundation of America, asthma accounts for 9.8 million hospital visits, 188,968 discharges from hospital inpatient care and 1.8 million emergency department visit each year in the U.S. 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 the substantial compound annual growth rate during the forecast period. 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 is also driving the market for bronchodilator drug in the Asia Pacific region.
Market Players and Competitive Intelligence
Prominent key market players in the Global bronchodilator Drug Market include F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Verona Pharma plc, Pfizer Inc., Abbott, and AstraZeneca plc among others.These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global bronchodilator Drug Market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.