Long-acting Beta-agonists Market

Long-acting Beta-agonists Market Segmentation by Route of Administration (Inhaled, Injectable, Oral, and Others); by Drug Type (Albuterol, Formoterol, Salmeterol, and Others); and by Application (Asthma, Bronchospasm, Chronic Obstructive Pulmonary Disease, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Report ID: 3996 | Published On: Feb 02, 2023

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.


In The News

  • October, 2020: Astellas Pharma Inc. and Iota Biosciences, Inc. announced a merger agreement, following which, Astellas will acquire Iota’s unique bioelectronics technology.

  • December 2019: Boston Biomedical, Inc. announced the alliance in oncology research with Columbia University, Harvard University and The Wistar Institute, the three world-leading oncology centers of excellence.


Global Long-acting Beta-agonists Market Highlights over 2022 – 2031

The global long-acting beta-agonists market is estimated to grow at a CAGR of ~9% over the forecast period, i.e., 2022 – 2031.

Beta-agonists are bronchodilator medicines that can relax the muscles around the airways and opens the airways, which are tightened during an asthma attack. Long-acting beta-agonists have a longer effect, which is up to 12 hours, as compared to the 4-5 hour effect of the regular beta-agonists. This longer lasting relief provide by the long-acting beta-agonists is estimated to boost their demand amongst the patients of nocturnal asthma, exercise-induced asthma, and COPD (chronic obstructive pulmonary disease). The growth of the market can be attributed to the increasing prevalence of COPD and asthma across the globe. According to the data by the World Health Organization (WHO), COPD is the third leading cause of death worldwide, which caused 3.23 million deaths in 2019. On the other hand, asthma caused 461,000 deaths in 2019, affecting over 262 million people in the same year. Moreover, the advancement in the field of medicine, and increasing demand for chronic respiratory disease treatment, are also estimated to boost the market growth. Apart from this, the prevalence of poor lifestyle, including consumption of tobacco, increased level of pollution, sedentary life, obesity, and higher exposure to allergens, which is leading to respiratory diseases, are also estimated to assist the market growth. 

Long-acting Beta-agonists Market

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The market is segmented by drug type into albuterol, formoterol, salmeterol, and others, out of which, the formoterol segment is anticipated to hold a substantial share in the global long-acting beta-agonists market over the forecast period owing to the longer-lasting action of formoterol-based compositions. Moreover, formoterol is administered as an inhalation powder, which has the maximum relief effect. Such factors are expected to encourage the segment growth.


Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita, (USD), 2015-2018

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 Long-acting Beta-agonists Market Regional Synopsis

On the basis of geographical analysis, the global long-acting beta-agonists 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 is estimated to witness noteworthy growth over the forecast period on the back of high prevalence of COPD, bronchospasm, and other disorders amongst the geriatric population. Further, asthma and other respiratory diseases are more common amongst the pediatric and geriatric population. The high population of older adults and children in the APAC region is estimated to boost the 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 amongst children. As per the data by the Center for Disease Control and Prevention (CDC), 6 million children below 18 years have asthma, in the U.S.

Long-acting Beta-agonists Market Share

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The global long-acting beta-agonists 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


Long-acting Beta-agonists Market
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Market Segmentation

Our in-depth analysis of the global long-acting beta-agonists market includes the following segments:

By Route of Administration

  • Inhaled
  • Injectable
  • Oral
  • Others

By Drug Type

  • Albuterol
  • Formoterol
  • Salmeterol
  • Others

By Application

  • Asthma
  • Bronchospasm
  • Chronic Obstructive Pulmonary Disease (COPD)
  • Others

Growth Drivers

  • Increasing Prevalence of Asthma and COPD
  • Growing Geriatric and Pediatric Population

Challenges

  • Side Effects of Bronchodilators
  • Government Restrictions regarding the Safety of the Drugs


Healthcare Expenditure per Capita, (USD), 2015-2018
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Top Featured Companies Dominating the Market

    • C.H. Boehringer Sohn AG & Ko. KG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • GlaxoSmithKline plc
    • Merck KGaA
    • Mylan N.V.
    • Teva Pharmaceutical Industries Ltd.
    • AstraZeneca plc
    • Sumitomo Dainippon Pharma Co., Ltd.
    • Koninklijke Philips N.V.
    • Pear Therapeutics, Inc.
    • Sanofi-aventis Groupe

Key Questions Answered in the Report

1) What are the major factors driving the growth of the long-acting beta-agonists market?

Ans: Increasing prevalence of asthma and COPD globally is anticipated to boost the market growth.

2) What would be the CAGR of long-acting beta-agonists market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2031.

3) What are the challenges affecting the long-acting beta-agonists market growth?

Ans: Side effects caused by bronchodilators are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of long-acting beta-agonists market in future?

Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing prevalence of asthma in the region.

5) Who are the major players dominating the long-acting beta-agonists market?

Ans: The major players in the market are GlaxoSmithKline plc, Merck KGaA, Mylan N.V., Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Sumitomo Dainippon Pharma Co., Ltd., Koninklijke Philips N.V., Pear Therapeutics, Inc., and Sanofi-aventis Groupe.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the long-acting beta-agonists market?

Ans: The market is segmented by route of administration, drug type, application, and by region.

8) Which segment captures the largest market size in application segment in the long-acting beta-agonists market?

Ans: The COPD segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.

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