Bronchodilator Drugs - New Zealand

New Zealand

The Bronchodilator Drugs market in New Zealand is anticipated to witness a substantial growth in revenue, with projections indicating a figure of US$46.08m in 2024.
Furthermore, this market is expected to display a steady annual growth rate (CAGR 2024-2029) of 3.76%, ultimately leading to a market volume of US$55.41m by 2029.
When compared globally, it is noteworthy that United States is forecasted to generate the highest revenue in this sector, reaching an impressive US$17,340.00m in 2024.
New Zealand's demand for bronchodilator drugs is surging due to the high prevalence of respiratory conditions in the country.

Key regions: United States, Europe, Brazil, Japan, United Kingdom

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Analyst Opinion

Bronchodilator drugs are an essential part of the pharmaceutical industry, and their demand has been increasing globally. New Zealand is not an exception to this trend, where the market for bronchodilator drugs has been growing steadily in recent years.

Customer preferences: The demand for bronchodilator drugs in New Zealand is driven by the increasing prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). According to the Ministry of Health, respiratory disease is the third leading cause of death in New Zealand, with over 500,000 people affected by asthma alone. As a result, bronchodilator drugs are in high demand among patients suffering from these conditions.

Trends in the market: The bronchodilator drugs market in New Zealand is witnessing several trends that are shaping its growth. One of the significant trends is the increasing preference for combination drugs that offer both bronchodilator and anti-inflammatory properties. These drugs are more effective in managing respiratory diseases and are increasingly prescribed by healthcare professionals.Another trend is the growing popularity of long-acting bronchodilators that provide sustained relief from respiratory symptoms. These drugs are preferred by patients who require long-term management of their conditions and are increasingly being prescribed by healthcare professionals.

Local special circumstances: New Zealand has a unique healthcare system that is publicly funded, and the government plays a significant role in regulating the pharmaceutical industry. The Pharmaceutical Management Agency (PHARMAC) is responsible for managing the procurement and funding of pharmaceuticals in New Zealand, including bronchodilator drugs. This has resulted in a highly competitive market, with pharmaceutical companies vying for PHARMAC contracts to supply their drugs to the New Zealand market.

Underlying macroeconomic factors: The New Zealand economy has been growing steadily in recent years, driven by a robust services sector and increasing exports. The healthcare sector is a significant contributor to the New Zealand economy, and the demand for bronchodilator drugs is expected to continue to grow as the population ages and the prevalence of respiratory diseases increases. However, the COVID-19 pandemic has had a significant impact on the New Zealand economy, and the full extent of its impact on the bronchodilator drugs market is yet to be seen.

Methodology

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.