Bronchodilator Drugs - Guatemala | Statista Market Forecast

The Bronchodilator Drugs market in Guatemala is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is estimated to reach US$11.96m in 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 4.12% from 2024 to 2029, resulting in a market volume of US$14.64m by the end of 2029.
When compared globally, United States is projected to generate the highest revenue in this market, amounting to US$17.34bn in 2024.
In Guatemala, the demand for bronchodilator drugs has been steadily increasing due to the high prevalence of respiratory diseases in the country.

Definition:
Bronchodilator drugs help to dilate the airways, thus making air flow easier. They are mainly used in the treatment of asthma and chronic obstructive pulmonary disease (COPD). Bronchodilators may be applied in an acute therapy, leading to a fast and short-term relief of symptoms. Other types of bronchodilators are used for maintenance therapy in long-term treatment. Different categories of bronchodilators include beta two adrenergic agonists, anticholingergics, and theophylline.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: GlaxoSmithKline, AstraZeneca, Boehringer Ingelheim

Short-term and long-term bronchodilators
Treatment of asthma and COPD
Mode of administration: mainly inhalation powder (aerosolized or dry), but also nebulizers, intravenous administration, and oral intake
Bronchodilator combinations, e.g., several bronchodilators or a bronchodilator with a corticosteroid

Other drugs to treat asthma or COPD
Smoking cessation products
Alternative medicine

Bronchodilator drugs are widely used in Guatemala to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). The market for these drugs in Guatemala has been steadily growing in recent years due to several factors.

Customer preferences: Guatemalan consumers prefer bronchodilator drugs that are affordable, effective, and easy to use. They are also increasingly seeking out drugs that have fewer side effects and are more environmentally friendly. As a result, pharmaceutical companies are investing in research and development to create new formulations that meet these preferences.

Trends in the market: One of the major trends in the bronchodilator drugs market in Guatemala is the increasing use of combination therapy. This involves using two or more bronchodilator drugs together to achieve better results. Another trend is the growing popularity of long-acting bronchodilators, which provide relief for up to 12 hours. Furthermore, there is a shift towards the use of inhalers rather than nebulizers, as inhalers are more convenient and easier to use.

Local special circumstances: Guatemala has a high prevalence of respiratory diseases, with asthma being one of the most common chronic diseases in the country. This has led to a high demand for bronchodilator drugs. However, the market is also highly competitive, with many local and international players vying for market share. As a result, companies need to be innovative and offer high-quality products at competitive prices to succeed in the market.

Underlying macroeconomic factors: The Guatemalan economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. This has resulted in a higher demand for healthcare products, including bronchodilator drugs. Additionally, the government has been investing in healthcare infrastructure, which has improved access to healthcare services in the country. However, there are still challenges in the market, such as the high cost of healthcare and the lack of insurance coverage for many Guatemalans.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.