Bronchodilators Market Size Worth $28.75 Billion By 2030

January 2023 | Report Format: Electronic (PDF)

Bronchodilators Market Growth & Trends

The global bronchodilators market is expected to reach USD 28.75 billion by 2030 and is expected to expand at a compound annual growth rate (CAGR) of 3.29% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the bronchodilators market is attributed to the increasing geriatric population and rising population with respiratory disorders. Moreover, respiratory diseases such as chronic obstructive pulmonary disease (COPD) and asthma are more common among the elderly population.

The demand for bronchodilators is growing significantly, owing to the increasing incidence of respiratory disorders. The surging number of smokers is increasing the population with a heightened risk of lung conditions such as asthma and COPD. For instance, as per WHO in 2021, there are over 1.3 billion smokers globally with 80% of them situated in LMIC’s. This population has an accelerated rate of deterioration in lung function along with intensified mortality rate. As per American Lung Association, 17% of the population with asthma are smokers which is 13.7% in the non-asthmatic population. This creates a need for persistent use of bronchodilators in patients, thereby, accelerating the demand for bronchodilators.

Moreover, there are increasing efforts from public and private organizations to increase awareness among the population. International organizations such as the Global Initiative for Chronic Obstructive Lung Disease (GOLD) are working with public health officials and healthcare professionals worldwide to increase awareness and improve the treatment and prevention of COPD around the world. Moreover, companies such as AstraZeneca, Cipla, Teva, and several others have been trying to spread awareness through social media platforms such as ‘Get Real’, #Laugh4Lungs’, ‘Inhalers are Right for Asthma’, ‘Inhaler is boon for Asthma’, and many more. These campaigns help raise awareness and encourage patients towards using more bronchodilators and enable them to secure their lives by taking preventive measures. Furthermore, the market is expected to grow due to regional market players ongoing R&D efforts to develop an effective treatment for patients with respiratory disorders.

Companies are collaborating to develop novel treatments to address unmet medical needs. This enables businesses to use their resources to help with product development and supply chain improvements. Moreover, a number of players are also focusing on product launches in order to expand their product portfolio. For instance, in September 2021, AstraZeneca started working on a combination formulation of inhaled corticosteroid (ICS) budesonide and beta2-agonist (SABA) albuterol for the treatment of patients with Asthma, which if approved is expected to be the first ICS/SABA combo rescue inhaler for asthma in the U.S.

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Bronchodilators Market Report Highlights

Beta adrenergic bronchodilators segment held a dominant share in the market in 2022, owing to the increasing number of generic approvals by the FDA to meet the rising demands
Oral segment is projected to grow at the fastest rate over the forecast period attributable to it being the second most preferred mode of administration amongst clinicians and patients
Asthma segment held a dominant share of the market in 2022 owing to the increasing prevalence of target diseases worldwide
North America dominated the market in 2022, which is attributed to the presence of key market players in the region, highly developed healthcare infrastructure, better affordability