Bronchodilator Drugs - Canada

Canada

The projected revenue for the Bronchodilator Drugs market in Canada is estimated to reach US$0.62bn in 2024.
It is expected that the revenue will exhibit an annual growth rate of 3.45% (CAGR 2024-2028), leading to a market volume of US$0.71bn by 2028.
When compared globally, United States is anticipated to generate the highest revenue in the market, amounting to US$17,340.00m in 2024.
The demand for bronchodilator drugs in Canada is steadily increasing due to the high prevalence of respiratory diseases in the country.

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

Market

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Analyst Opinion

Bronchodilator drugs are medications that help relax the muscles in the airways, making it easier to breathe. In Canada, the Bronchodilator Drugs market has been experiencing steady growth over the past few years.

Customer preferences: Bronchodilator drugs are commonly used to treat respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD). With the increasing prevalence of these conditions globally, the demand for bronchodilator drugs has been on the rise. Additionally, there has been a growing preference for combination therapy, which involves the use of multiple medications to manage respiratory conditions.

Trends in the market: In Canada, the Bronchodilator Drugs market has been witnessing a shift towards long-acting bronchodilators, which provide sustained relief from respiratory symptoms. Combination therapies that include both bronchodilators and inhaled corticosteroids are also gaining popularity, as they offer a more comprehensive approach to managing respiratory conditions. Furthermore, there has been an increased focus on the development of biologic drugs for the treatment of severe asthma, which is expected to drive growth in the market in the coming years.

Local special circumstances: Canada has a publicly funded healthcare system, which means that the government plays a significant role in determining the availability and pricing of medications. The Patented Medicine Prices Review Board (PMPRB) is responsible for regulating the prices of patented drugs in Canada, which can have an impact on the pricing of bronchodilator drugs in the market. Additionally, the Canadian Agency for Drugs and Technologies in Health (CADTH) evaluates the clinical and cost-effectiveness of drugs, which can influence the availability of certain medications in the market.

Underlying macroeconomic factors: The Canadian economy has been growing steadily over the past few years, which has contributed to an increase in healthcare spending. This has led to an expansion of healthcare services and an increase in the availability of medications, including bronchodilator drugs. Furthermore, the aging population in Canada is expected to drive demand for respiratory medications, as respiratory conditions are more prevalent among older adults. However, the COVID-19 pandemic has had a significant impact on the healthcare system in Canada, which could affect the growth of the Bronchodilator Drugs market in the short term.

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.