GLOBAL BRONCHODILATORS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global bronchodilators market was valued US$ 22.85 Bn in 2023 and is expected to reach US$ 30.44 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.6% from 2024 to 2031. 

Global Bronchodilators Market- Regional Insights

• North America is expected to be the largest market for bronchodilators during the forecast period, accounting for over 37.1% of the market share in 2023. North America is anticipated to dominate the global bronchodilators market during the forecast period due to the high prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disorder (COPD) in the U.S. and Canada. The demand for bronchodilators has remained consistently strong in this region. Leading pharmaceutical companies have their headquarters located in North America and invest heavily in research and development to continually innovate and develop new bronchodilation drugs. As a result, North America is usually the first market to introduce novel bronchodilator therapies.
• Europe market is expected to be the second-largest market for bronchodilators, accounting for over 20.6% of the market share in 2023. Europe is likely to witness the fastest gains and emerge as the most lucrative region towards the latter half of the forecast period. This can be attributed to the increasing adoption of inorganic growth strategies by market players.

Figure 1. Global Bronchodilators Market Share (%), By Region, 2023

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Analyst View:

The global bronchodilators market is expected to witness steady growth over the forecast period driven by the rising prevalence of respiratory diseases such as asthma and COPD. Growing pollution levels and changing environmental conditions have led to a surge in respiratory issues around the world. This will generate significant demand for bronchodilators in the coming years. North America currently dominates the market owing to high healthcare spending and growing awareness regarding pulmonary disorders. However, Asia Pacific is likely to emerge as the fastest growing regional market due to its huge population base and improving access to healthcare.

Global Bronchodilators Market- Drivers

• Increasing Product Approval: Increasing product approval by regulatory authorities such as the U.S. Food and Drug Administration, is expected to drive the global bronchodilators market growth over the forecast period. For instance, on January 11, 2023, AstraZeneca, a global pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved Airsupra (albuterol/budesonide), formerly known as PT027, in the U.S. for the treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations in people with asthma aged 18 years and older. Airsupra is a first-in-class, pressurised metered-dose inhaler (pMDI), fixed-dose combination rescue medication containing albuterol, a short-acting beta2-agonist (SABA), and budesonide, an anti-inflammatory inhaled corticosteroid (ICS) in the U.S.
• Increasing Partnership among Key Market Players: Increasing adoption of inorganic growth strategies such as partnership is expected to drive the global bronchodilators market growth. For instance, in October 2022, AeroRx Therapeutics, a pharmaceutical company, announced a partnership with HCmed Innovations Co., Ltd., a Taiwan-based pharmaceutical company, to develop a new therapeutic combination of different classes of bronchodilators medications that help open up the airways, making breathing easier for the treatment of people with chronic obstructive pulmonary disease (COPD). Under the partnership, AeroRx will be responsible for the formulation of the COPD bronchodilators, as well as all clinical trials, and the commercialization strategy of the medication.

Global Bronchodilators Market- Opportunities

• Increasing Awareness Campaigns: Increasing awareness campaigns present a huge opportunity for growth in the global bronchodilators market. For instance, in November 2022, the American Lung Association, launched campaign to increase awareness about COPD, including the critical need to improve screening, early diagnosis and the quality of life for people living with the disease. COPD, which includes chronic bronchitis and emphysema, is a long-term lung disease that gets worse over time. With COPD, less air flows in and out of the lungs which makes it harder for a person to breathe. As the disease gets worse, increased shortness of breath makes it harder to remain active
• Emerging markets in developing countries: Emerging markets in developing countries present a huge opportunity for growth in the global bronchodilators market. The Asia Pacific region has emerged as the most rapidly developing marketplace for bronchodilators. Countries like China, India and Japan have massive patient populations suffering from respiratory With improving access to healthcare and rising affordability, more patients in Asia Pacific are gaining insurance coverage and the ability to purchase bronchodilation medicines. Local pharmaceutical firms are also enhancing their generic drug manufacturing capabilities and supplying low-cost bronchodilator treatments. The strengthening economies of Asia Pacific nations have significantly grown the middle-income populations who can pay for bronchodilator therapies out of their own pockets. International pharmaceutical companies are accelerating their focus on these high growth opportunities by opening more manufacturing plants and expanding their salesforce presence across Asia Pacific.

Global Bronchodilators Market– Trends

• Monoclonal Antibody Combinations in Long-Acting Bronchodilators: Physicians increasingly recognize the benefits of combination bronchodilators over single-mechanism treatments in moderating COPD symptoms and exacerbations over the long term. Long-acting bronchodilators such as beta-agonists work by carefully targeted mechanisms to produce 24-hour relief from bronchoconstriction and easy breathing. However, combining them with other classes like anticholinergics or steroidal modes of action generates enhanced therapeutic effects. Recent innovations coupling monoclonal antibodies with long-acting beta-agonists have received enthusiastic clinical response. Not only do they provide balanced dual-bronchodilation, studies show they significantly cut symptoms, improve quality of life and lower exacerbation risk versus monotherapies. Their round-the-clock effectiveness enables better COPD control and management of comorbidities. Growing emphasis on individualized treatment approaches has amplified demand for these highly customized combination therapies. Their superior outcomes justify increased utilization even in price-sensitive markets, driving the segment's sustainable growth path.

Global Bronchodilators Market- Restraints

• Stringent Regulatory Environment: The rigorous regulatory framework governing the approval and development of respiratory drugs. Regulatory agencies like the USFDA and EMA have implemented stringent norms to ensure the quality, safety and efficacy of new bronchodilator candidates. The approval process is time-consuming and requires large investments, clinical trials, and comprehensive documentation. Besides, any regulatory hurdles during the approval phase can delay product launches and commercialization plans. Additionally, the regulations for modifications to approved drug attributes and indications are also getting tighter. Overall, the exacting regulatory scenario has a dampening effect on the bronchodilators industry growth.
• Increasing Product Recall: One of the key restraints for the bronchodilators market is the product recall which is expected to hamper the market growth. For instance, on July 6, 2023, Cipla Inc., a pharmaceutical company, announced the recall of six batches of Albuterol Sulfate Inhalation Aerosol, 90 mcg.
• Counterbalance –The rising disease burden and aging population present lucrative opportunities, patent expiries and rigorous regulations pose hindrances for companies operating in the bronchodilators market. By developing novel drug delivery mechanisms, combination therapies, and focusing on specialty patient segments, manufacturers can overcome some of these challenges and sustain profitable growth in the long run.

Figure 2. Global Bronchodilators Market Share (%), By Drug Class, 2023

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Global Bronchodilators Market- Recent Developments

Product Approval/Launch

• On July 21, 2023, Lupin, a global pharmaceutical company, announced that it had launched Luforbec100/6 (beclometasone 100µg/for moterol 6µg), a fix combination in a pressurized metered dose inhaler (pMDI) for the treatment of adult asthma and chronic obstructive pulmonary disease (COPD) in Germany
• In September 2020, GSK plc., a pharmaceutical company, announced that the U.S. Food and Drug Administration had approved a new indication for Trelegy Ellipta (fluticasone furoate / umeclidinium / vilanterol ‘FF/UMEC/VI’) for the treatment of asthma in patients aged 18 years and older adding to its current license for use in patients with chronic obstructive pulmonary disease (COPD). Trelegy Ellipta is not indicated for relief of acute bronchospasm.

Distribution Agreement

• In January 2022, Covis Pharma Canada Ltd., a subsidiary company of Covis Pharma, announced that it had entered into an exclusive promotion and distribution agreement with Novartis Pharmaceuticals Canada Inc., a subsidiary company of Novartis AG, whereby Covis has been appointed as Novartis’ exclusive partner to promote and distribute PrSeebri Breezhaler and PrUltibro Breezhaler in Canada

Top Companies in Global Bronchodilators Market

• GSK plc.
• AstraZeneca
• Mylan N.V.
• Merck & Co., Inc.
• Sun Pharmaceutical Industries Ltd.
• Glenmark Pharmaceuticals Limited
• Novartis AG
• Boehringer Ingelheim International GmbH
• Teva Pharmaceutical Industries Ltd.
• Cipla Inc.
• Sunovion Pharmaceuticals Inc.
• Sanofi
• Innoviva

Definition: Bronchodilators are a type of medication that make breathing easier by relaxing the muscles in the lungs and widening the airways (bronchi). Bronchodilators often used to treat long-term conditions where the airways may become narrow and inflamed, such as chronic obstructive pulmonary disease (COPD), asthma, etc.

Bronchodilators are a class of medications that act to dilate the bronchi and bronchioles in the lungs to make breathing easier. There are two main types of bronchodilators - short-acting and long-acting. Short-acting bronchodilators like albuterol work quickly to relieve bronchospasm but only provide relief for a short duration, typically 4 hours or less. The main advantage of bronchodilators is their ability to rapidly relieve bronchospasm and the symptoms that come with it like coughing, wheezing and shortness of breath.