Press release
Bronchodilators Global Market Report 2024: Size, Share, Growth, Trends, Forecast to 2033
Bronchodilators Market
According to The Business Research Company's, The bronchodilators market size has grown strongly in recent years. It will grow from $30.43 billion in 2023 to $32.93 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to growing geriatric population, rising incidence of asthma, growing funding by government organizations, increase in ageing population, and increasing air pollution across the globe.
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Market Drivers and Trends:
The increasing prevalence of chronic obstructive pulmonary disease (COPD) is expected to propel the growth of the bronchodilator market going forward. Chronic obstructive pulmonary disease is a progressive lung disease characterized by chronic inflammation of the airways and obstruction or limitation of airflow. Bronchodilators are used in chronic obstructive pulmonary disease (COPD) to relax the muscles around the airways, which helps to open the airways and make it easier to breathe. For instance, in March 2023, according to a report by the Scottish Public Health Observatory, led by Public Health Scotland, a UK-based Population Health Centre, COPD rates started to increase as the impact of COVID-19 eased. The rate in males increased from 83.2 to 97.6 cases per 100,000, and for females, the increase was from 72.6 to 97.3. Therefore, the increasing prevalence of chronic obstructive pulmonary disease (COPD) is driving the growth of the bronchodilator market.
Major companies operating in the bronchodilator market are developing innovative products such as fixed-dose triple-drug combinations to better serve patients. A fixed-dose triple drug combination is a medication that contains three active ingredients in a single formulation, with each ingredient having a predetermined dose. For instance, in January 2023, Lupin, an India-based pharmaceutical firm, launched DIFIZMA, a fixed-dose triple-drug bronchodilator with a combination of indacaterol, glycopyrronium, and mometasone for managing asthma. DIFIZMA is offered as a dry powder inhalation. DIFIZMA is the only fixed-dose combination that has been approved by the Drug Controller General of India (DCGI) for the treatment of inadequately controlled asthma by improving lung function, providing better symptom control, and reducing exacerbations.
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Major Key Players of the Market:
Pfizer Inc. , Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Bayer AG, Novartis AG, Thermo Fisher Scientific, Abbott Laboratories , Sanofi S.A., GlaxoSmithKline plc, Siemens Healthcare GmbH, Merck & Co. Inc., AstraZeneca plc, Teva Pharmaceuticals Industries Ltd., Mylan N.V., Quest Diagnostics Incorporated., Boehringer Ingelheim International GmbH, Aurobindo Pharma Limited, Bio-Rad Laboratories Inc., Cipla Limited, Hikma Pharmaceutical plc, Amneal Pharmaceuticals LLC, Glenmark Pharmaceuticals Limited, Vectura Group Limited, Foundation Medicine Inc., Sun Pharmaceutical Industries Ltd., Amgen Inc., Kissei Pharmaceutical Co.Ltd., Mitsubishi Tanabe Pharma, Theron Pharmaceuticals, Viatris Inc.
Bronchodilators Market 2024 Key Insights:
• The bronchodilators market is expected to grow to $43.25 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Rising COPD Prevalence Fuels Growth In Bronchodilator Market
• Lupin Introduces DIFIZMA A Groundbreaking Fixed-Dose Triple Drug Combination
• North America was the largest region in the bronchodilators market in 2023
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