Bronchodilator Drugs - Australia

Australia

The market for Bronchodilator Drugs market in Australia is expected to witness a significant increase in revenue.
By the year 2024, the projected revenue is estimated to reach a remarkable amount of US$287.60m.
Furthermore, it is anticipated that this revenue will continue to grow steadily, with an annual growth rate (CAGR 2024-2028) of 3.96%.
As a result, the market volume is projected to reach a substantial figure of US$335.90m by the year 2028.
In terms of global comparison, United States is expected to generate the highest revenue in the Bronchodilator Drugs market.
In 2024 alone, the revenue generated United States is projected to amount to a staggering US$17,340.00m.
This highlights the dominance of the United States in the global market for Bronchodilator Drugs market.
In Australia, the demand for bronchodilator drugs has been steadily increasing due to the high prevalence of respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD).

Key regions: Europe, India, Canada, Italy, South Korea

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Analyst Opinion

Bronchodilator drugs have become an essential part of treating respiratory disorders in Australia. The market for these drugs has been growing steadily in the country, driven by various factors.

Customer preferences: Patients with respiratory disorders in Australia prefer bronchodilator drugs due to their quick and effective relief from symptoms such as coughing, wheezing, and shortness of breath. Moreover, the convenience of using inhalers has also made them a popular choice among patients.

Trends in the market: One of the major trends in the bronchodilator drugs market in Australia is the increasing demand for combination therapies. These therapies combine bronchodilators with other drugs, such as corticosteroids, to provide better and long-lasting relief from respiratory symptoms. Another trend is the rising adoption of digital inhalers, which can track medication usage and provide feedback to patients and healthcare providers.

Local special circumstances: Australia has a high prevalence of respiratory disorders, such as asthma and chronic obstructive pulmonary disease (COPD). According to the Australian Institute of Health and Welfare, asthma affects around 2.7 million Australians, and COPD is the fifth leading cause of death in the country. This high disease burden has led to a significant demand for bronchodilator drugs in the country.

Underlying macroeconomic factors: The Australian healthcare system provides universal access to healthcare services, including prescription drugs. The government subsidizes the cost of prescription drugs through the Pharmaceutical Benefits Scheme (PBS), making them affordable for patients. This has contributed to the growth of the bronchodilator drugs market in the country. Additionally, the aging population in Australia has also led to an increase in the demand for respiratory medications, including bronchodilator drugs.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.