(I-BusinessNews.Com, July 18, 2021 ) Bronchodilators Market size is forecast to reach $3.7 billion by 2026, growing at a CAGR of 6.3% during the forecast period 2021-2026. Bronchodilators relaxes muscles around the airways and open the airway to let more air move in and out of the lungs. They are used to reduce the mucus from the lungs and also have effects on mucociliary clearance. It is also used in the treatment of obstructive lung disease by relaxing and widening the bronchi. It treats asthma and chronic pulmonary diseases. Bronchodilators are administered through nebulizer to the patients who are sufferings from chronic respiratory disorders as they are used to reduce the mucus from the lungs. Increasing prevalence of pulmonary disorders and growing technological advancements are the major factors driving the growth of the market. Growing government initiatives for creating awareness among population and growing funding by government organizations is set to further enhance the overall market development of the Bronchodilators Market for the period 2021-2026
Bronchodilators Market Segment Analysis – By Indication
Asthma held the largest share in the Bronchodilators Market in 2020 and is estimated to grow at a CAGR 5.7% during the forecast period 2026. This is attributed to the increasing prevalence of asthma around the world. According to an estimation done by Asthma and Allergy Foundation of America, asthma accounts for 9.8 million of hospital visits and around 1.8 million emergency department visits each year. Increasing adoption of smoking along with exposure to certain gases or fumes and to heavy amounts of smoke, pollution, and use of cooking fire without proper ventilation is increasing the chronic obstructive pulmonary diseases. Chronic Obstructive Pulmonary Disease are estimated to register the highest CAGR over the period 2021-2026.
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Bronchodilators Market Segment Analysis – By Drug Type
Anticholinergics held the largest share in the Bronchodilators Market in 2020 and is estimated to grow at a CAGR 6.0% during the forecast period 2026. This is attributed to this that anticholinergics are available in both short acting form as well as long acting form. Anticholinergic bronchodilators block the parasympathetic nerves and enables the air passages to remain open. It is widely used to treat chronic obstructive pulmonary disease. The demand for combination drug is increasing owing to their properties of dilating air passages and making air flow easier. Combination Drugs are estimated to register the highest CAGR over the period 2021-2026.
Bronchodilators Market Segment Analysis – By Geography
North America dominated the Bronchodilators Market with a major share of 36.4% in 2020. This is attributed to the increase in cystic fibrosis and increasing government initiatives towards increasing awareness regarding asthma, and chronic respiratory disorders among others. Increasing awareness regarding treatment options, rising adoption of inhaled therapeutics along with the significant improvement in the healthcare sector is increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increase in respiratory disorder patient pool, increase in availability of drugs, and rise in demand of bronchodilators in the pharmaceutical sectors.
Bronchodilators Market Drivers
Increase in Prevalence of Pulmonary Disorders
Increase in prevalence of pulmonary disorders is increasing the growth of the Bronchodilators Market. This is attributed to the indoor and outdoor air pollution, occupational dust, inhaled tobacco smoke, child pneumonia, and genetic syndromes among others. The number of deaths owing to the pulmonary disorder increased with age sharply among people aged 70 and older & is likely to increase as the worldwide population ages. Wealthier countries have lower rates of pulmonary disorders owing to the fact that people have better access to health services and improved treatments. Thus, increasing the growth of the Bronchodilators Market during the forecast period 2021-2026.
Increasing Usage of Bronchodilators for the Treatment of Cystic Fibrosis
Increasing usage of bronchodilators for the treatment of cystic fibrosis is increasing the growth of the Bronchodilators Market. This is attributed to the fact that inhaled bronchodilators are prescribed for 8-% of people with cystic fibrosis to widen the airways and alleviate symptoms. Long inhaled as well as short inhaled bronchodilators are used to improve respiratory symptoms as they take effect in minutes and typically last for eight hours. Cystic Fibrosis patients take bronchodilators using a metered dose inhaler as it ensures that they are able to breathe in a full dose of their medications. Thus, increasing the growth of the Bronchodilators Market during the forecast period 2021-2026.
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Bronchodilators Market Challenges
Government Regulation Related to the Efficacy & Safety of the Bronchodilators and Side Effects Associated with the Bronchodilators
Some of the factors that are set to impede the growth of the Bronchodilators Market are government regulation related to the efficacy & safety of the bronchodilators and side effects associated with the bronchodilators. Low awareness for these products along with the cost of treatment is set to hinder the growth of the market.
Bronchodilators Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Bronchodilators Market. In 2020, the Bronchodilators Market share is consolidated by the top ten players present in the market. Bronchodilators Market, top 10 companies are Novartis AG, Pfizer, Cipla Technologies, Teva Pharmaceuticals, Astra Zeneca Plc., GlaxoSmith, Hoffman Roche, Abbott Laboratories, and Vectura Group among others.
Acquisitions/Product Launches
In April 2019, Cipla Technologies partnered with Pulmatrix Inc. to develop a formulation for the treatment of allergic bronchodilators aspergillosis in patients suffering from asthma.
Key Takeaways
North America dominated the Bronchodilators Market in 2020 owing to the increase in cystic fibrosis and increase in government initiatives towards increasing awareness regarding asthma and other chronic respiratory diseases. The Bronchodilators Market scope for different regions will be provided in the final report.
Increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease and increasing awareness of healthcare among population are likely to aid the market growth of the Bronchodilators Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Bronchodilators Market report.
Government regulation related to the efficacy & safety of the bronchodilators and side effects associated with the bronchodilators is poised to create hurdles for the Bronchodilators Market.
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