Bronchitis Treatment Market is Expected to Expand at a High CAGR of 4.0% During the Forecast Period 2018 - 2026
Transparency Market Research (TMR) has published a new report titled, “Bronchitis Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global bronchitis treatment market was valued at US$ 3,432.62 Mn in 2017. It is projected to expand at a CAGR of 3.6% during the forecast period. The global bronchitis treatment market is anticipated to be driven by an increase in mortality and morbidity of bronchitis during the forecast period. The bronchitis treatment market in Asia Pacific is expected to expand at a high CAGR of 4.0%, due to the high prevalence of diseases, improvements in the health care sector, rise in awareness, and increase in focus on research and development.
The global population is aging rapidly, especially in a few developed countries such as the U.S., most of Western Europe, and Japan. Developed economies witness a high rate of aging as compared to that in developing countries. This is attributed to improved health care infrastructure, favorable reimbursement policies, and advancements in health care facilities in these countries. Moreover, access to various diagnostic and treatment services has improved in recent years, especially in developed economies. This, in turn, has increased the life expectancy of the population. The geriatric population is more prone to develop respiratory conditions. Increase in number of geriatric people leads to high rate of ailments, which in turn is likely to propel the bronchitis treatment market.
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Chronic Bronchitis is major type of chronic obstructive pulmonary disease (COPD). COPD is a major health concern that affects a large number of people across the globe. The disease burden is increasing among adults and thereby, increasing the need for COPD management. According to The Global Burden of Disease Study, 251 million COPD cases were reported in 2016, and 3.17 million deaths were caused due to the disease in 2015. It also reported that COPD accounted for of deaths in low and middle income countries in 2015. According to the Global Initiative for Chronic Obstructive Lung Disease (GOLD) 2018, COPD is anticipated to be the third-leading cause of death by 2020. Increase in mortality and morbidity of COPD is expected to drive the market
Key players operating in the global bronchitis treatment market include AstraZeneca, Novartis AG, GlaxoSmithKline plc, Dr. Reddy's Laboratories Ltd., Melinta Therapeutics, Sanofi Aventis, and Boehringer Ingelheim International GmbH. Companies operating in the global bronchitis treatment market focus on strategic collaborations to leverage footprint in emerging markets such as Asia Pacific and Latin America.