Bronchodilator Drugs - Singapore | Statista Market Forecast

The Bronchodilator Drugs market in Singapore is expected to witness a significant growth in revenue, with projections indicating that it will reach US$48.75m in 2024.
Furthermore, the market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.76%, resulting in a market volume of US$61.50m by 2029.
When compared globally, it is noteworthy that United States is poised to generate the highest revenue in this market, with an estimated revenue of US$17.34bn in 2024.
Bronchodilator drug usage in Singapore has seen a significant increase 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 Singapore to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). The demand for bronchodilator drugs in Singapore has been increasing over the years due to various factors.

Customer preferences: Patients in Singapore prefer bronchodilator drugs that offer quick relief and are easy to use. This has led to an increase in the demand for metered-dose inhalers (MDIs) and dry powder inhalers (DPIs) over traditional nebulizers. Patients also prefer drugs that have fewer side effects and are cost-effective.

Trends in the market: The bronchodilator drugs market in Singapore is witnessing a shift towards combination therapies that offer both bronchodilator and anti-inflammatory effects. Combination therapies are becoming increasingly popular as they offer better symptom control and reduce the need for multiple medications. The market is also witnessing an increase in the use of long-acting beta-agonists (LABAs) and long-acting muscarinic antagonists (LAMAs) over short-acting bronchodilators.

Local special circumstances: Singapore has a high prevalence of respiratory diseases such as asthma and COPD, which has led to an increase in the demand for bronchodilator drugs. The country has a well-established healthcare system and a high level of awareness about respiratory diseases, which has led to early diagnosis and treatment of these diseases. The government of Singapore also provides subsidies for the treatment of chronic diseases, which has made it more affordable for patients to access bronchodilator drugs.

Underlying macroeconomic factors: The bronchodilator drugs market in Singapore is driven by various macroeconomic factors such as an aging population, increasing healthcare expenditure, and a growing middle class. With an aging population, the prevalence of respiratory diseases is expected to increase, which will drive the demand for bronchodilator drugs. The growing middle class in Singapore has also led to an increase in healthcare expenditure, which has made it easier for patients to access bronchodilator drugs. The government of Singapore has also been investing heavily in healthcare infrastructure, which has led to an increase in the availability of bronchodilator drugs.

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.