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

Market Challenges And Opportunities

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- 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.