Bronchodilator Drugs - Thailand

Thailand

Thailand's Bronchodilator Drugs market is anticipated to witness a significant growth in revenue, projected to amount to US$51.97m in 2024.
This market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 3.88%, leading to a market volume of US$62.88m by 2029.
When compared globally, it is noteworthy that United States will generate the highest revenue in this market, reaching a staggering US$17,340.00m in 2024.
Thailand's bronchodilator drug market is experiencing a surge in demand due to the high prevalence of respiratory disorders in the country.

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

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Analyst Opinion

Bronchodilator Drugs market in Thailand has been experiencing significant growth in recent years. This growth can be attributed to several factors, including customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Bronchodilator drugs are widely used to treat respiratory diseases like asthma and chronic obstructive pulmonary disease (COPD) in Thailand. The increasing prevalence of these diseases has led to a surge in demand for bronchodilator drugs. Patients are increasingly seeking fast-acting and effective drugs to manage their respiratory conditions. As a result, bronchodilator drugs that offer quick relief and long-lasting effects are gaining popularity in the market.

Trends in the market: The Bronchodilator Drugs market in Thailand is witnessing a shift towards combination therapies, which offer a more comprehensive approach to treating respiratory diseases. Combination therapies that combine bronchodilators with other drugs like corticosteroids have been gaining popularity in recent years. These drugs are more effective in managing respiratory diseases and provide better symptom control. Moreover, the market is also witnessing the introduction of new and innovative drugs that offer better efficacy and safety profiles.

Local special circumstances: The Bronchodilator Drugs market in Thailand is characterized by intense competition among players. The market is dominated by multinational companies that have a strong presence in the region. These companies have been investing heavily in research and development to introduce new and innovative drugs in the market. Moreover, the market is also witnessing the entry of local players who are offering low-cost alternatives to branded drugs. These players are gaining popularity among price-sensitive consumers and are expected to pose a significant challenge to established players in the market.

Underlying macroeconomic factors: The Bronchodilator Drugs market in Thailand is driven by several macroeconomic factors. The increasing prevalence of respiratory diseases, rising healthcare expenditure, and growing awareness about the benefits of early diagnosis and treatment are some of the key drivers of the market. Moreover, the government's efforts to improve healthcare infrastructure and expand access to healthcare services are also expected to drive market growth in the coming years. However, the market is also facing challenges such as regulatory hurdles, pricing pressures, and supply chain disruptions, which are expected to impact market growth in the short term.

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.