Rise in prevalence of asthma and COPD, and increase in government initiatives fuel the growth of the global bronchodilators market
PORTLAND, Oregon, March 2, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Bronchodilators Market by Drug class (Sympathomimetics, Anticholinergics, Phosphodiesterase Inhibitor and Combination Drugs), by Indication (Asthma, COPD, and Others), and Route of Administration (Oral, Injection, and Inhaler): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global bronchodilators industry was estimated at $27.58 billion in 2018 and is expected to hit $41.48 billion by 2026, registering a CAGR of 5.2% from 2019 to 2026.
Drivers, restraints & opportunities-
Rise in prevalence of asthma and COPD and increase in government initiatives drive the growth of the global bronchodilators market. On the other hand, several side effects associated with bronchodilators hamper the growth to some extent. Nevertheless, development in emerging economies is expected to create an array of opportunities in the near future.
The asthma segment to retain its dominance during the estimated period-
Based on indication, the asthma segment accounted for more than one-fourth of the global bronchodilators market share in 2018, and is expected to dominate throughout the forecast period. The same segment would also grow at the fastest CAGR of 6.1% till 2026. This is attributed to significant increase in prevalence of asthma across the globe.
The anticholinergics segment to lead the trail during the study period-
Based on drug type, the anticholinergics segment held the highest share in 2018, garnering nearly half of the global bronchodilators market. This is due to increased usage of anticholinergic drugs for the treatment of respiratory problem that makes it hard for patients to breathe. The combination drugs segment, on the other hand, would cite the fastest CAGR of 5.9% during 2019–2026. This is attributed to their properties of dilating air passages that make air flow easier.
North America to rule the roost by 2026-
Based on geography, North America contributed to more than two-fifths of the global bronchodilators market revenue in 2018, and is anticipated to maintain the lion's share by the end of 2026. Rise in cystic fibrosis and increase in government initiates toward growing awareness of COPD, asthma, and other chronic respiratory disorders boost the market in the region. Simultaneously, the region across LAMEA would grow at the fastest CAGR of 9.2% by the end of 2026. Increase in geriatric population and upsurge in demand for quick & advanced treatment methodologies in the healthcare industry is anticipated to offer remunerative opportunities for the market in this province.
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