Market Challenges: High cost of advanced treatments

The high cost of advanced bronchitis treatments can hamper the global bronchitis treatment market growth. Bronchitis is a common respiratory condition that involves inflammation of the bronchial tubes that carry air to and from the lungs. While most cases are acute and can be treated with over-the-counter medication, chronic bronchitis often requires more intensive treatment and management over a longer period. Advanced treatments for chronic bronchitis like bronchodilators, steroids, antibiotics, and oxygen therapy involve costly prescription drugs and administration by medical professionals. This makes such treatments highly inaccessible for a large section of global population with low or middle incomes. According to the data from World Bank in 2020, more than 40% of the global population lived on less than US$ 5.50 per day. For them, even basic treatment costs can be financially burdensome. This significantly restricts their ability to regularly opt for more advanced bronchitis interventions. High treatment expenses also discourage patients from continuing the recommended course of medication. Inability to fully comply with prescribed therapy protocols leads to exacerbation of symptoms and increased healthcare utilization in future. This has major economic implications for patients as well as for countries' public healthcare budgets. Studies show that nearly 50% of chronic bronchitis patients in the U.S. do not continue medication beyond initial prescriptions due to costs.

Market Opportunities: Growing focus on telemedicine and digital health solutions

Global bronchitis treatment market can witness significant growth opportunities due to growing focus on telemedicine and digital health solutions. With the COVID-19 pandemic highlighting the importance of virtual care, telemedicine is expected to play a central role in how healthcare is delivered for chronic conditions like bronchitis. Telemedicine offers convenience and ease of access to patients, allowing them to consult with doctors and receive routine checkups without having to physically visit an healthcare facility. This reduces disease transmission risk as well as saves travel time and costs for patients. Many healthcare systems across the world have also upgraded their infrastructure to support tele/digital health amid the pandemic. For example, the European Commission has deployed over €200 million to support telemedicine scale-up in European Union countries from 2021-2022. This funding is aimed at boosting virtual care collaboration between EU hospitals and encouraging nationwide telehealth networks. In the U.S., the Centers for Medicare and Medicaid expanded telehealth coverage and reimbursement in 2021. This policy change resulted in telehealth usage increasing by 154% from 2019 to 2020, according to the U.S. Department of Health and Human Services. Such supportive regulations and investments in virtual care technologies offer lucrative opportunities for bronchitis treatment and management through digital channels. Telemedicine can play a vital role in remote patient monitoring, medication management, quick diagnosis and guiding lifestyle changes.