Global Broncho Therapy and Treatment Market Highlights over 2022 – 2030
The global broncho therapy and treatment market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2030. Broncho therapy, also known as, bronchial thermoplasty, is used as a treatment for primarily asthma, and bronchitis. The growth of the market can be attributed to the increasing prevalence of asthma globally. According to the data by the World Health Organization (WHO), over 262 million people were affected by asthma in 2019, resulting in 461,000 deaths in the same year. Asthma is considered to be the most common chronic disease among children by the WHO. In addition to this, the increasing government initiatives to curb asthma cases, and increasing investment to improve healthcare facilities across the world, are anticipated to boost the market growth. As per a report by the WHO, asthma is included in the WHO Global Action Plan for the Prevention and Control of NCDs, as well in the United Nations 2030 Agenda for Sustainable Development.
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Broncho therapy was approved by FDA in 2010, and is since being used as a treatment for asthma and bronchitis. The increasing investment in development of new treatment methods is estimated to further strengthen the market growth. Moreover, increasing per capita healthcare globally, is another major factor estimated to promote the growth of the market. According to the data by the World Bank, the global healthcare expenditure per capita, grew from USD 1064.924 in 2017 to USD 1,111.082 in 2018.
The market is segmented by end-user into hospital, specialty clinics, and others, out of which, the hospital segment is anticipated to hold the notable share in the global broncho therapy and treatment market over the forecast period on account of availability of respiratory disease specialists, along with high patient footfall in the hospitals. Moreover, increasing incidences of asthma and other respiratory diseases, which require broncho therapy, are anticipated to fuel the segment growth.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Broncho Therapy and Treatment Market Regional Synopsis
On the basis of geographical analysis, the global broncho therapy and treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region witnessed or is estimated to witness noteworthy growth over the forecast period on the back of high pollution level in the APAC region, along with rising awareness amongst the people regarding diagnosis and treatment of diseases. Moreover, increasing incidences of chronic bronchitis in the region is projected to boost the regional market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high incidences of asthma in the region. According to the data by the Center for Disease Control and Prevention (CDC), 25,131,132 cases of asthma were reported in the United States, in 2019, out of which, 5,104,410 were children below the age of 18 years.
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The global broncho therapy and treatment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global broncho therapy and treatment market includes the following segments:
- Specialty Clinics
- Increasing Cases of Asthma and Bronchitis
- Rising Investment for Improving Healthcare Facilities
- Competition from Over-the-Counter Medications
- Lack of Awareness in Low-Income Regions
Top Featured Companies Dominating the Market
- Abbott Laboratories
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Sanofi S.A.
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Otsuka Pharmaceutical Co., Ltd.,
- Novartis International AG
- Eli Lilly and Company
- Hindustan Antibiotics Limited