Bronchodilator Drugs - Sri Lanka | Statista Market Forecast

The Bronchodilator Drugs market in Sri Lanka is expected to witness a significant growth in revenue, with projections indicating a reach of US$6.13m in 2024.
This growth is anticipated to continue with an annual growth rate of 1.02% from 2024 to 2029, resulting in a market volume of US$6.45m by 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue in the Bronchodilator Drugs market, with an estimated amount of US$17.34bn in 2024.
Sri Lanka's market for bronchodilator drugs is witnessing a growing demand due to the increasing prevalence of respiratory disorders 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 Sri Lanka to treat respiratory problems such as asthma and chronic obstructive pulmonary disease (COPD). The market for these drugs has been growing steadily in recent years, driven by various factors such as changing customer preferences and local special circumstances.

Customer preferences: Customers in Sri Lanka prefer bronchodilator drugs that are affordable and easily accessible. As a result, generic drugs have become increasingly popular in the market. Customers also prefer drugs that are effective in treating respiratory problems and have minimal side effects.

Trends in the market: The market for bronchodilator drugs in Sri Lanka is expected to continue growing due to the increasing prevalence of respiratory diseases in the country. The growing aging population and rising pollution levels are also contributing to the growth of the market. In addition, the government's efforts to improve healthcare infrastructure and increase access to healthcare services are expected to further boost the demand for bronchodilator drugs in the country.

Local special circumstances: Sri Lanka has a high prevalence of respiratory diseases, with asthma being one of the leading causes of morbidity in the country. The country also has high levels of air pollution, particularly in urban areas, which is contributing to the growing incidence of respiratory diseases. In addition, the country has a large aging population, which is also driving the demand for bronchodilator drugs.

Underlying macroeconomic factors: The Sri Lankan economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. The government has also been investing in healthcare infrastructure and increasing access to healthcare services, which is expected to further boost the demand for bronchodilator drugs in the country. However, the country's high debt levels and political instability could pose challenges to the growth of 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.