Bronchodilator Drugs - Europe

Europe

The Bronchodilator Drugs market in Europe is projected to witness a substantial growth in revenue, with an estimated value of US$5.60bn by 2024.
This growth is expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2028) of 3.68%, resulting in a market volume of US$6.47bn by 2028.
In comparison to other countries, United States is anticipated to generate the highest revenue in the market, reaching US$17,340.00m in 2024.
In Europe, Germany leads the market for bronchodilator drugs with a strong emphasis on research and development.

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

Market

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Analyst Opinion

Bronchodilator drugs are widely used in Europe to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). These drugs work by relaxing the muscles in the airways, making it easier to breathe. The market for bronchodilator drugs in Europe has been growing steadily over the past few years.

Customer preferences: Customers in Europe prefer bronchodilator drugs that are effective and have minimal side effects. They also tend to prefer drugs that are easy to use and can be taken at home. Many customers in Europe also prefer to use inhalers rather than oral medications.

Trends in the market: One of the key trends in the bronchodilator drugs market in Europe is the increasing use of combination therapies. These are drugs that combine bronchodilators with other medications, such as corticosteroids. Combination therapies have been shown to be more effective than using bronchodilators alone.Another trend in the market is the increasing use of long-acting bronchodilators. These drugs provide relief for up to 24 hours, making them more convenient for patients. There has also been a shift towards using newer, more advanced bronchodilator drugs.

Local special circumstances: In some countries in Europe, there are specific guidelines for the use of bronchodilator drugs. For example, in the United Kingdom, the National Institute for Health and Care Excellence (NICE) provides guidance on the use of bronchodilator drugs for asthma and COPD.

Underlying macroeconomic factors: The growing prevalence of respiratory diseases in Europe is one of the key macroeconomic factors driving the growth of the bronchodilator drugs market. Factors such as air pollution, smoking, and an aging population are contributing to the increasing incidence of respiratory diseases.Another macroeconomic factor is the increasing healthcare expenditure in Europe. As healthcare spending increases, more resources are being allocated towards the treatment of respiratory diseases, including the use of bronchodilator drugs.In conclusion, the bronchodilator drugs market in Europe is growing steadily, driven by factors such as the increasing prevalence of respiratory diseases and the growing healthcare expenditure. Customers in Europe prefer drugs that are effective, easy to use, and have minimal side effects. The market is seeing a trend towards the use of combination therapies and long-acting bronchodilators. Local guidelines and regulations also play a role in shaping the market in different countries.

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.