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Bronchitis Treatment Market Demand, Share, Growth And Forecast To 2033
Bronchitis Treatment Market Share
According to The Business Research Company's, The bronchitis treatment market size has grown strongly in recent years. It will grow from $5.25 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rising air pollution levels, cigarette smoking epidemic, increased respiratory infections, environmental and occupational exposures, lifestyle factors.
The bronchitis treatment market size is expected to see strong growth in the next few years. It will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to advancements in respiratory medicine, expanded access to vaccination, tailored pediatric treatment approaches, precision medicine in respiratory care, global efforts to reduce smoking. Major trends in the forecast period include personalized treatment approaches, advancements in inhalation therapies, targeted therapies for specific bronchitis types, focus on prevention and vaccination, patient-centric care models.
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Market Drivers and Trends:
The increasing incidence of respiratory diseases is expected to propel the growth of the bronchitis treatment market going forward. Respiratory diseases refer to diseases that affect the lungs and other parts of the respiratory system. This disease can affect the upper or lower respiratory tract and can be caused by a variety of factors, including infections, allergens, irritants, and genetic predispositions. Bronchitis treatment for respiratory diseases can be used in a number of ways, depending on the root cause and severity of the condition. Bronchitis treatment include antibiotics, anti-inflammatories, and bronchodilators to open airways of respiratory organs. For instance, in June 2023, according to reports published by the Australian Institute of Health and Welfare, an Australia-based national agency, there was a rise in respiratory disease-related deaths in 2021 i.e., 46,551 in Australia. Furthermore, in September 2022, according to the data published by The Lancet, a UK-based book and periodic data publishing organization, 11,255 new cases of respiratory syncytial virus (RSV) were recorded in the 2021 summer, which is 9.50% more. Therefore, the increasing incidence of respiratory diseases is driving the growth of the bronchitis treatment market going forward.
Product innovations are a key trend gaining popularity in the bronchitis treatment market. Major companies operating in the bronchitis treatment market are adopting new technologies to sustain their position in the market. For instance, in June 2021, Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, launched the first generic version of PERFOROMIST®, a formoterol fumarate inhalation solution. This solution is intended to treat bronchoconstriction in individuals with chronic obstructive pulmonary disease (COPD), including chronic bronchitis and emphysema. Adults with COPD can manage their symptoms using formoterol fumarate inhalation solution, a long-acting beta2-adrenergic agonist (LABA). Emphysema, chronic bronchitis, or both may be present in COPD, a chronic lung illness. Only a nebulizer can be used to use formoterol fumarate inhalation solution.
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Major Key Players of the Market:
AstraZeneca PLC; Novartis AG; GlaxoSmithKline plc; Dr. Reddy's Laboratories; Melinta Therapeutics LLC; Sanofi S.A.; Boehringer Ingelheim International GmbH; Teva Pharmaceutical Industries Ltd.; Sun Pharmaceutical Industries Ltd.; Pfizer Inc.; Cipla Inc.; Merck and Co. Inc.; Bayer AG; Johnson & Johnson Private Limited; Viatris Inc.; Lupin Ltd.; Cadila Healthcare Limited; Lincoln Pharmaceuticals Ltd.; Nephron Pharmaceuticals Corporation; Apotex Inc.; Mylan N.V.; Eli Lilly and Company; Abbvie; Hetero Healthcare Ltd.; Torrent Pharmaceuticals Ltd.; Glenmark Pharmaceuticals Ltd.; Alembic Pharmaceuticals Ltd.; Intas Pharmaceuticals Ltd.; Macleods Pharmaceuticals Ltd.; Alkem Laboratories Ltd.; Wockhardt Ltd.
Bronchitis Treatment Market 2024 Key Insights:
• The bronchitis treatment market will grow to $7.27 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Respiratory Disease Incidence Sparks Robust Growth In Bronchitis Treatment Market
• Innovative Solution For Copd Management
• North America was the largest region in the bronchitis treatment market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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