Bronchodilators Market

Market Overview

The global bronchodilators market revenue was valued at USD 31,654.42 million in 2022. It is estimated to reach USD 47,857.9 million by 2031, growing at a CAGR of 4.7% during the forecast period (2023–2031). A rise in the incidence of asthma and COPD globally is anticipated to drive the market for bronchodilators.

Bronchodilators are drugs that relax muscles that tighten around the airways. These drugs open airways and allow more air to move in and out of the lungs. They are also used to reduce mucus from the lungs. Patients suffering from respiratory disorders consume these drugs with the help of nebulizers or inhalers. In addition, inhaler bronchodilators have effects on mucociliary clearance as well. Bronchodilators treat obstructive lung diseases by relaxing the lung muscles and widening the airways (bronchi). They treat asthma and chronic obstructive pulmonary diseases (COPD). Other factors, such as the rise in the incidence of respiratory diseases due to cigarette smoking, also boost the market growth. In addition, a rise in disposable income, geriatric population, and healthcare awareness among people are anticipated to boost market growth.

Market Dynamics

Market Drivers

Rise in Incidence of Asthma and COPD

Since recent years, a significant rise in the incidence rate of asthma and COPD has been witnessed across the globe. According to the Asthma and Allergy Foundation of America, 10 Americans die from asthma every day in the United States, and 3,564 people died from asthma in 2017. In addition, asthma is the third-ranking cause of hospitalization among children younger than 15. Moreover, bronchodilators are increasingly being used by patients suffering from COPD. Thereby, a rise in the incidence of asthma and COPD globally is anticipated to drive the market for bronchodilators.

Surge in Government Initiatives

A rise in government initiatives and an increase in healthcare expenditures significantly drive the growth of the global bronchodilators market. Treatment procedures have been witnessing immense progress owing to a surge in healthcare expenditure. Technological advancements and innovations in the healthcare system supplement market growth. Governments of several regions focus on increasing awareness regarding the available treatments for treating respiratory diseases and lung conditions among patients. According to the NHS (National Health Service), the Department of Health National Awareness and Early Diagnosis Initiative (NAEDI) holds national campaigns to spread public awareness regarding COPD and asthma symptoms in the UK.

Market Restraint

Side Effects Associated with Bronchodilators

Though bronchodilators are widely used to treat chronic respiratory disorders, they also have certain side effects. The side effects vary from person to person, depending on the specific medication. These side effects include headache, dry mouth, fast palpitations, muscle cramps, nausea, vomiting, and diarrhea. These side effects associated with bronchodilators are amongst the major factors hampering the market growth.

Market Opportunities

Various Growth Opportunities in Emerging Economies

Emerging economies of Asia-Pacific and LAMEA offer lucrative growth opportunities for expanding the bronchodilators market due to improved healthcare infrastructure in these regions and increased demand for better healthcare. Additionally, the rise in the incidence of respiratory disorders such as cystic fibrosis, bronchiectasis, and asthma boosts the demand for bronchodilators. Moreover, the surge in healthcare reforms in developing nations is anticipated to offer remunerative opportunities for market expansion. In addition, an increase in investments in healthcare and R&D in developing countries such as India, China, and Brazil supports the growth of the bronchodilators market.

Regional Analysis

Based on region, the global bronchodilators market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.

North America is the most significant global bronchodilators market shareholder and is estimated to exhibit a CAGR of 3.1% over the forecast period. The U.S. dominated the market due to increased demand for bronchodilators. However, Canada will likely grow at the highest rate during the forecast period due to an increase in funding in R&D and a surge in the development of the medical device sector. Further, asthma and COPD are the third leading cause of death in North America, after cancer and cardiac diseases. Adopting a sedentary lifestyle and environmental pollution are the major factors driving the market growth for bronchodilators. The technologically advanced market scenario in the U.S. is anticipated to provide lucrative growth prospects for market players.

Additionally, factors that drive the overall growth of the North American bronchodilators market include a significant increase in cystic fibrosis and a rise in government initiatives toward increasing awareness regarding COPD, asthma, and other chronic respiratory disorders. Furthermore, leading players in the bronchodilators market, such as AstraZeneca and Teva Pharmaceutical Industries Ltd., contribute to the market growth.

Europe is anticipated to exhibit a CAGR of 4.8% over the forecast period. Owing to the European government's increased focus on treating respiratory disorders, well-established healthcare systems, and the rise in healthcare expenditure. Furthermore, the growth of the European bronchodilator market is driven by the high penetration of key players in the region, such as Boehringer Ingelheim and GlaxoSmithKline N.V. Moreover, Germany accounted for the majority of market share in the region. Significant increases in R&D activities for drug development to cure respiratory disorders and continuous product launches are expected to create new opportunities for market expansion during the forecast period.

In Europe, key players are adopting partnerships as their key developmental strategy to introduce new bronchodilators, and such partnerships are expected to give an edge to these companies over others. Moreover, factors that promote the growth of the bronchodilators market in Europe include a rise in demand for bronchodilators in the pharmaceutical sector and an increase in investment by the European Union for R&D in the healthcare sector.

In Asia-Pacific, the major factors driving the growth of the bronchodilators market include an increase in per capita income in many countries, an increase in government initiatives to boost the healthcare sector, and a surge in leading manufacturers' focus on expanding their geographic presence in emerging countries in this region to capitalize on high growth opportunities in the market. Leading manufacturers of bronchodilators are gradually focusing on this region for novel and more effective device launches. Moreover, the surge in respiratory disorders diseases such as asthma, COPD, and bronchiectasis fuels the market growth in this region. In addition, the rise in environmental pollution in the Asia-Pacific region contributes to the market growth of bronchodilators.

In LAMEA, the increase in focus in the healthcare sector is attributed to the development of innovative medical devices in this region. Furthermore, the increase in the prevalence of asthma and cystic fibrosis and the increase in R&D activities significantly contribute to market growth. The senior population in Latin America is increasing rapidly and is expected to reach 100.5 million by 2025. This population is more prone to respiratory diseases such as asthma and COPD, thereby propelling demand for bronchodilators. Furthermore, the surge in demand for quick and advanced treatment methodologies in the healthcare industry is anticipated to offer remunerative opportunities for the market during the forecast period. Brazil accounted for most of the market share in this region and is anticipated to maintain its dominance over the forecast period due to the improved healthcare infrastructure and rising disposable income.

Segmental Analysis

The global bronchodilators market is bifurcated into indication, drug type, and route of administration.

Based on indication, the global bronchodilators market is categorized into asthma, chronic obstructive pulmonary disease (COPD), and others.

The asthma segment dominates the global market and will likely exhibit a CAGR of 5.6% over the forecast period. Asthma is a long-term inflammatory disease of the lungs. Variable and recurring symptoms, reversible airflow obstruction, and bronchospasm characterize it. Symptoms of asthma include episodes of wheezing, coughing, chest tightness, and shortness of breath. Most people with asthma may report an increase in its severity while exposed to allergens such as pollens, dust, and smoke. In addition, allergic asthma and rhinitis may frequently coexist in a patient. Allergic asthma is the most common chronic lower respiratory disease in children. Leading players are continuously focused on the development of new drugs for the treatment of allergic asthma.

Further, collaboration and partnership between leading players and increased focus on adopting bronchodilators for asthma treatment offer lucrative opportunities for market growth. Asthmatic patients are increasingly using bronchodilators as they offer long and short-lasting effects.

The global bronchodilators market is classified into sympathomimetics, anticholinergics, phosphodiesterase inhibitors, and combination drugs based on drug type.

The combined drugs segment dominates the global market and is predicted to exhibit a CAGR of 5.4% during the forecast period. Combination drugs are most commonly inhalers or inhalation devices, comprising more than one bronchodilator, a bronchodilator, and a steroid. The combination drug generally comprises a short-acting and a long-acting bronchodilator. Bronchodilators use different mechanisms to dilate air passages and make air flow easier. Bronchodilator combinations with a steroid and bronchodilator act more like a preventative.

Based on the route of administration, the global bronchodilators market is categorized into oral, injection, and inhaler.

The inhaler segment owns the highest market share and is predicted to exhibit a CAGR of 4.4% over the forecast period. Inhalation as a route of administration is primarily used to treat allergic asthma. In addition, inhalers work more quickly and usually serve as the first line of treatment during an asthma attack. Inhalation is the most preferred route of administration for consumption of bronchodilators. The most widely used inhaler bronchodilators include albuterol, Xopenex (levalbuterol), metaproterenol, and terbutaline.

Recent Developments

• May 2023- A recent study published in the journal Nature Medicine discovered that an inhaled surfactant, a novel form of bronchodilator, can assist in restoring lung function in persons with asthma. The research, which included over 100 asthmatics, discovered that individuals who breathed the surfactant for 12 weeks had much greater lung function than those who did not.
• April 2023- The Food and Drug Administration has warned about the risk of significant adverse effects, including death, from using the bronchodilator albuterol. The warning is based on reports of albuterol causing cardiac difficulties in persons with underlying heart disease, including heart attacks and arrhythmias.