Bronchiectasis is a chronic lung condition that causes irreversible enlargement of part of the airways (bronchi) in the lungs. Drugs for bronchiectasis help control the symptoms, prevent lung damage and treat infections.
The global Bronchiectasis Drugs Market is estimated to be valued at US$ 303.8 Mn or Million in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global Bronchiectasis Drugs Market Size is the rise in clinical research and trials focusing on developing novel drug candidates. For instance, in 2019, Novartis received approval from FDA to conduct phase 3 clinical trials for its investigational recombinant human hyaluronidase PH20 (rHuPH20) for treatment of non-cystic fibrosis bronchiectasis. rHuPH20 is an enzyme administered with standard of care antibiotics which helps improve lung deposition and distribution of antibiotics to clear infection and improve lung function over time.
SWOT Analysis
Strength: Bronchiectasis drugs market is witnessing strong growth owing to increasing prevalence of diseases like COPD and cystic fibrosis which induce bronchiectasis. The rising R&D investment by major pharma companies in development of novel drugs is also driving the market.
Weakness: High treatment cost associated with bronchiectasis drugs is a major limitation towards market growth. Also, very few drugs have been approved for long term management of bronchiectasis which is another weakness.
Opportunity: Significant unmet medical needs in developing countries presents lucrative opportunities for key players. Also, development of safer and more effective pipeline drugs can further boost the market.
Threats: Presence of alternative treatment options like antibiotics therapy poses competition to drug developers. Stringent regulations for drug approvals can also delay product launches.
Key Takeaways
The global bronchiectasis drugs market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of chronic respiratory diseases resulting in bronchiectasis development.
Regional analysis
North America dominates the global bronchiectasis drugs market owing to increasing healthcare expenditure and rising prevalence of tuberculosis and cystic fibrosis in the region. Asia Pacific is anticipated to be the fastest growing market driven by rising economy, healthcare reforms and large patient pool.
Key players operating in the bronchiectasis drugs market are GlaxoSmithKline plc, Novartis AG, Pfizer Inc., AstraZeneca plc, Boehringer Ingelheim International GmbH, Roche Holding AG, Teva Pharmaceutical Industries Ltd., Bayer AG, Sanofi S.A., Sunovion Pharmaceuticals Inc., Mylan N.V., Cipla Ltd., Grifols S.A., Insmed Incorporated, Arbor Pharmaceuticals LLC.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it