Bronchodilator Drugs - Iceland | Statista Market Forecast

The Bronchodilator Drugs market in Iceland is projected to generate a revenue of US$6.43m in 2024.
The market is expected to grow at an annual growth rate (CAGR 2024-2029) of 4.83%, reaching a market volume of US$8.13m by 2029.
In global comparison, United States is anticipated to generate the highest revenue with US$17.34bn in 2024.
Iceland is experiencing a growing demand for bronchodilator drugs due to its high prevalence of respiratory diseases.

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 Iceland to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). The market for these drugs in Iceland has been developing in a certain way due to various factors.

Customer preferences: Customers in Iceland prefer bronchodilator drugs that are effective and have minimal side effects. They also prefer drugs that are easy to use and can be self-administered at home. This preference has led to an increase in demand for long-acting beta-agonists (LABA) and long-acting muscarinic antagonists (LAMA) drugs that can be used once or twice a day.

Trends in the market: The market for bronchodilator drugs in Iceland is growing steadily due to the increasing prevalence of respiratory diseases such as asthma and COPD. The demand for these drugs is also driven by the aging population in Iceland, as respiratory diseases are more common in older adults. In addition, the market is witnessing a shift towards combination therapies that combine LABA and LAMA drugs to provide better symptom relief and improve lung function.

Local special circumstances: Iceland has a small population and a well-developed healthcare system that provides universal access to healthcare. This has led to a high rate of diagnosis and treatment of respiratory diseases in the country. The government also provides subsidies for prescription drugs, which has made bronchodilator drugs more affordable for patients.

Underlying macroeconomic factors: The Icelandic economy has been growing steadily in recent years, which has led to an increase in healthcare spending. This has enabled the government to invest in the development of new healthcare facilities and the purchase of advanced medical equipment. The growing economy has also led to an increase in disposable income, which has made it easier for patients to afford prescription drugs.In conclusion, the market for bronchodilator drugs in Iceland is growing steadily due to the increasing prevalence of respiratory diseases, the aging population, and the shift towards combination therapies. The high rate of diagnosis and treatment of respiratory diseases, the government subsidies for prescription drugs, and the growing economy are also contributing factors to the market's development.

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.