Bronchodilator Drugs - Philippines

The market for Bronchodilator Drugs market in the Philippines is projected to achieve a revenue of US$43.78m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 4.80%, leading to a market volume of US$55.34m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$17.34bn in 2024.
In the Philippines, the demand for bronchodilator drugs is on the rise 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 the Philippines to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). The market for these drugs has been steadily growing in recent years, driven by various factors.

Customer preferences: Patients in the Philippines prefer using bronchodilator drugs due to their quick action and effectiveness in relieving symptoms of respiratory diseases. The convenience of using inhalers and nebulizers also makes them a popular choice among patients, especially those with severe respiratory conditions.

Trends in the market: One of the major trends in the bronchodilator drugs market in the Philippines is the increasing adoption of combination therapies. These therapies combine two or more bronchodilators with different mechanisms of action, providing better symptom relief and reducing the risk of adverse effects. Another trend is the rising demand for long-acting bronchodilators, which offer sustained symptom relief and reduce the need for frequent dosing.

Local special circumstances: The high prevalence of respiratory diseases in the Philippines is a major driver of the bronchodilator drugs market. According to the World Health Organization (WHO), respiratory diseases are among the leading causes of death in the country, with asthma and COPD being the most common respiratory conditions. The high levels of air pollution in urban areas also contribute to the high incidence of respiratory diseases in the country.

Underlying macroeconomic factors: The growing healthcare sector in the Philippines is another factor driving the bronchodilator drugs market. The government has been investing in the healthcare sector, with a focus on improving access to healthcare services and increasing healthcare spending. This has led to an increase in the number of healthcare facilities and healthcare professionals in the country, which in turn has boosted the demand for bronchodilator drugs.In conclusion, the bronchodilator drugs market in the Philippines is expected to continue growing in the coming years, driven by factors such as the high prevalence of respiratory diseases, customer preferences for quick and effective symptom relief, and the growing healthcare sector. The increasing adoption of combination therapies and long-acting bronchodilators is also expected to shape the market in the future.

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.