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Bronchodilator Market to Total US$ 67.8 Billion by 2034 on the Back of Rising Geriatric Population and Growing Prevalence of Respiratory Disease | Future Market Insights Inc.

Bronchodilator market growth can be attributed to a variety of factors, such as the rising prevalence of respiratory diseases globally coupled with increased levels of air pollution, the surge in the number of smokers, and propelling incidence of infectious diseases among the elderly population significantly contributing toward the risk of developing lung disorders, and are collectively driving the market growth.

NEWARK, Del, Nov. 22, 2023 (GLOBE NEWSWIRE) — The global bronchodilator market value is predicted to increase from US$ 38.2 billion in 2024 to US$ 67.8 billion by 2034. Over the forecast period, global bronchodilator sales are projected to rise at a CAGR of about 5.9%.

Several factors are anticipated to spur growth in the bronchodilator industry. These include the rising prevalence of respiratory diseases such as asthma and COPD, the growing geriatric population, and increasing government initiatives and programs.

The rising geriatric population globally is emerging as a key factor driving demand for bronchodilators. As age increases, people become more susceptible to lung problems. According to the journal Clinical Interventions in Ageing, the aging population is significantly impacted by pulmonary illness.

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The third most common cause of death in adults 65 and older is chronic lower respiratory tract disease, comprising asthma, emphysema, chronic bronchitis, bronchiectasis, and chronic obstructive pulmonary disease (COPD). Bronchodilators have become an essential medication for treating these diseases and relieve their symptoms.

Exposure to air pollution increases the risk of developing non-communicable diseases such as lung cancer, chronic obstructive pulmonary disease (COPD), ischemic heart disease, and stroke. The growing prevalence of these diseases is set to bolster sales of bronchodilators through 2034.

Governments worldwide are also supporting the growth of the global bronchodilator market by increasing awareness among the population through patient education programs. These are the reasons why the market for bronchodilators is expanding.

Key players are focusing on novel product development with enhanced efficacy. They are investing heavily in research and development to develop new medications for respiratory diseases. For instance, Glenmark recently introduced Tavulus for the treatment of COPD in Spain.

Key Takeaways from the Market Study-

  • The global bronchodilator market is expected to total US$ 67.8 billion in 2034.
  • By drug class, the phosphodiesterase inhibitor segment is set to thrive at a CAGR of 6.2%.
  • Based on indication, the asthma segment held a market share of about 34.2% in 2023.
  • By route of administration, the oral segment is poised to exhibit a CAGR of 6.4% through 2034.
  • By distribution channel, retail pharmacies accounted for a market share of 32.4% in 2023.
  • North America dominated the global market with a value share of 27.5% in 2023.
  • The United States market is set to expand at 6.1% CAGR through 2034.
  • Demand in India is projected to increase at a CAGR of 6.2% between 2024 and 2034.

“The rising prevalence of lung diseases such as COPD and asthma is expected to drive demand for bronchodilators during the forecast period. Subsequently, increasing government initiatives to reduce the burden on the healthcare system is set to propel the growth of the bronchodilator industry globally,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Competitive Landscape

Bronchodilator manufacturers are operating at full capacity to meet the increasing demand globally. They are launching novel products and adopting strategies such as mergers, partnerships, acquisitions, and collaborations to boost their revenue and expand their footprint.

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For instance,

  • In May 2020, Glenmark launched a 3-in-1 inhaler therapy for COPD in India with the promise of lowering the likelihood of severe attacks and enhancing lung function.
  • In April 2019, Circassia announced that the FDA had approved Duaklir for the maintenance treatment of chronic obstructive pulmonary disease.

Top Key Companies Profiled in the Bronchodilator Market:

  • Abbott Laboratories.
  • AstraZeneca plc.
  • Boehringer Ingelheim International GmbH.

Get More Insights into the Bronchodilator Market Report

Future Market Insights (FMI) offers a unique perspective and actionable insights on the bronchodilator market in its latest study, presenting a historical demand assessment of 2019 to 2023 and projections for 2024 to 2034. The global bronchodilators industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.

The research study is based on drug class (sympathomimetic, anticholinergics, a phosphodiesterase inhibitor, combination drugs, and others), application (asthma, COPD, and others), route of administration (oral, injection, and inhalation), and distribution channel (retail pharmacies, hospital pharmacies, e-commerce, and drug stores) across seven key regions of the world.

Bronchodilator Market Outlook by Category

By Drug Class:

  • Sympathomimetic
  • Anticholinergics
  • Phosphodiesterase Inhibitor
  • Combination Drugs
  • Others

By Application:

By Route of Administration:

  • Oral
  • Injection
  • Inhalation

By Distribution Channel:

  • Retail Pharmacies
  • Hospital Pharmacies
  • E-commerce
  • Drug Stores

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

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About Healthcare Division at Future Market Insights (FMI)

Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business. Know more about our sector coverage here.  

Author by

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/670330833/bronchodilator-market-to-total-us-67-8-billion-by-2034-on-the-back-of-rising-geriatric-population-and-growing-prevalence-of-respiratory-disease

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