Bronchodilator Drugs - India

India

The Bronchodilator Drugs market in India is anticipated to witness a significant growth in revenue, with projections indicating a reach of €270.60m by the year 2024.
It is expected that this market will continue to expand steadily, displaying an annual growth rate (CAGR 2024-2029) of 4.59%.
As a result, the market volume is estimated to surge to €338.60m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue, amounting to €16,080.00m in 2024.
India's growing population and high prevalence of respiratory diseases have led to a surge in demand for bronchodilator drugs in the country.

Key regions: United States, Europe, Brazil, Japan, United Kingdom

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Analyst Opinion

Bronchodilator drugs are widely used in the treatment of respiratory diseases like asthma and chronic obstructive pulmonary disease (COPD). The Indian market for bronchodilator drugs has been witnessing significant growth in recent years.

Customer preferences: The demand for bronchodilator drugs in India is mainly driven by the increasing prevalence of respiratory diseases. According to a report by the World Health Organization (WHO), India has an estimated 15-20 million asthmatics, making it one of the countries with the highest asthma burden. Additionally, the increasing levels of pollution in major Indian cities have led to a rise in the number of people suffering from respiratory diseases. As a result, there is a growing demand for bronchodilator drugs in the country.

Trends in the market: The Indian market for bronchodilator drugs is witnessing a shift towards the use of combination therapies. Combination therapies, which involve the use of two or more bronchodilator drugs, are becoming increasingly popular as they offer better treatment outcomes and are more convenient for patients. Additionally, the market is witnessing the introduction of newer and more advanced bronchodilator drugs, which are more effective and have fewer side effects.

Local special circumstances: The Indian market for bronchodilator drugs is highly competitive, with both domestic and international players competing for market share. Domestic players hold a significant share of the market, owing to their strong distribution networks and lower pricing. However, international players are also gaining ground, owing to their superior product offerings and marketing strategies.

Underlying macroeconomic factors: The Indian healthcare sector is undergoing significant reforms, with the government increasing its focus on providing affordable healthcare to all. The introduction of the Ayushman Bharat scheme, which aims to provide health insurance coverage to over 100 million families, is expected to boost demand for healthcare services, including bronchodilator drugs. Additionally, the growing middle class in India, with increasing disposable incomes, is expected to drive demand for better healthcare services, including respiratory care.

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.