Market Trends of Global Bronchodilators Industry
This section covers the major market trends shaping the Bronchodilators Market according to our research experts:
Asthma Segment is Expected to Register a Substantial Growth in the Bronchodilators Market
Based on indication, the asthma segment is estimated to garner significant growth throughout the forecast period. This is majorly attributed to the rising prevalence of asthma worldwide. For instance, as per World Health Organization (WHO) data, asthma affected around 262 million people in 2019 and triggered 461,000 deaths worldwide. Asthma is a breathing disorder caused due to narrowing of airway passages within the lungs. The narrowing may occur due to numerous reasons such as muscle spasms, excess production of mucus, or swelling in the airway. Amidst an asthma attack, the muscles in the airway begin to tighten, leading to narrowing of airways. Moreover, the lining of these passages tends to swell and results in the overproduction of mucus. This causes difficulty in breathing. Bronchodilators relieve these symptoms of asthma by opening the airways and counteract the effects of an attack. In addition, the surge in product approval and launches for treating asthma is further estimated to supplement the segment growth. For instance, in May 2019, Sanofi received a European Commission approval for its 'Dupixent' used in treating patients with severe asthma. Furthermore, United States Food and Drug Administration (USFDA) accepted 'Dupixent' for review in March 2021. Thus, the increasing number of pipeline products along with an upsurge in asthma-affected population and ease of availability of bronchodilator medications are expected to propel the growth of the bronchodilators market in the years to come.
North America is Expected to Hold a Major Share of the Market throughout the Forecast Period
Within North America, the United States has held the major share of the market and is expected to dominate over the forecast period. Chronic Obstructive Pulmonary Disease (COPD) affects millions of Americans each year and is the third foremost cause of disease-associated death in the United States. For instance, according to the data published by American Lung Association, in 2018, approximately 16.4 million adults in the United States reported a diagnosis of any type of COPD (emphysema, chronic bronchitis, or COPD). Likewise, asthma continues to be a serious public concern within the country. The United States Environmental Protection Agency and the National Health Interview Surveys (NHIS), in April 2021, estimated that almost 25.1 million people, comprising 5.1 million children, have asthma in the country. The same source also stated that, in 2019, over 10.3 million people with asthma, with nearly 2.3 million children, report having had one or more asthma attacks. Since bronchodilators are usually recommended as the firstline of treatment for respiratory-related disorders, the North American region is anticipated to be the major revenue contributor throughout the analysis period. In addition, an upsurge in the number of smokers in the region along with a tremendous increase in environmental pollution are some of the other factors propelling the market growth for bronchodilators. Likewise, continuous R&D efforts of the regional market players for developing an efficacious treatment for patients with respiratory disorders is projected to impel the market growth. For instance, Regeneron Pharmaceuticals, Inc., an American biotechnology company collaborated with Sanofi for studying pediatric asthma. The drug candidate is currently in its Phase III clinical study and is estimated to be completed by September 2021.
Thus, these aformentioned factors collectively are responsible for driving the growth of bronchodilators market in North America.
