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.
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. CLICK TO DOWNLOAD SAMPLE REPORT
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 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.
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
Our in-depth analysis of the global long-acting beta-agonists market includes the following segments:
By Route of Administration
By Drug Type
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of asthma and COPD globally is anticipated to boost the market growth.
The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2031.
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.
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.
The market is segmented by route of administration, drug type, application, and by region.
The COPD segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Side effects caused by bronchodilators are estimated to hamper the market growth.
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.
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