Adrenergic Drug Market size is expected to reach USD 9 billion by the end of 2036, expanding around 6% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of adrenergic drug was over USD 3 billion. The growth of this sector is poised to be encouraged by a surge in number of cases of COVID-19. For instance, worldwide coronavirus (COVID-19) incidence were almost 767 million as of June 13, 2023. Hence, the market demand for adrenergic drug is set to increase.
Adrenergic drug has been increasingly used for the treatment of patients suffering from different allergic reactions such as food allergies. According to the Food and Agriculture Organization of the United Nations, nearly 220 million people across the globe have food allergies.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~ 6% |
|
Base Year Market Size (2023) |
~ USD 3 Billion |
|
Forecast Year Market Size (2036) |
~ USD 9 Billion |
|
Regional Scope |
|
Drug Class (Vasopressors, Bronchodilators, Catecholamine)
Adrenergic drug market from the bronchodilators segment is predicted to hold 50% of the revenue share during the forecast period. As a class of drug, bronchodilators promote breathing by expanding the bronchi and relaxing the muscles in the lungs. They're frequently employed to treat long-term illnesses including asthma, a common lung ailment brought on by inflammation of the airways, where the airways may become narrowed and inflammatory. Hence, with the growing prevalence of asthma the segment is set to experience the highest growth. Over 300 million people globally are affected by asthma, which has a significant morbidity and mortality rate. Additionally, individuals with asthma are more inclined to suffer from atopic dermatitis (eczema) or allergic rhinitis (hay fever). Hence, the demand for bronchodilators is growing.
Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Commerce)
The hospital segment is projected to account for 60% share of the global adrenergic drug market during the forecast period. Adrenergic drug is usually prescribed by doctors in the hospital and additionally, in some cases the patients are kept under observation after the consumption of this drug. Hence, most people prefer hospitals for the distribution for this drug. Furthermore, most of the medications are made available only in the hospital pharmacy. Hence, consumers might be entangled to purchase the same from there. Also, the price of various medications is hospitals especially the government is relatively low.
Our in-depth analysis of the global adrenergic drug market includes the following segments:
|
Drug Class |
|
|
Route of Administration |
|
|
Disease Indication |
|
|
Distribution Channel |
|
North American Market Forecast
The North America adrenergic drug market is poised to rise by generating the highest share of about 35% over the forecast period. The major factor to encourage this growth is the rising prevalence of chronic disease. Nearly half of all Americans, or about 132 million people, are believed to suffer from a minimum of one chronic ailment, such as arthritis, heart disease, or hypertension. That number is projected to rise to over 169 million by 2030, which is about 14 million more than it was even ten years ago. Moreover, this region is considered to be the most active for various launches of medication since they have the highest spending on pharmaceuticals. Also, there has been an upsurge in patient population in this region and hence this region might also be held responsible for the spending on launch medication. Hence, the demand for market in this region is expanding.
APAC Market Analysis
The adrenergic drug market in Asia Pacific is also expected to experience the significant growth over the forecast period. This growth is set to be influenced by the growth in the prevalence of COPD. Despite being a condition that can potentially be prevented and treated, chronic obstructive pulmonary disease (COPD) is associated with high morbidity and mortality, resulting in a significant social and economic burden. The Epidemiology and Impact of COPD (EPIC) Asia population-based survey results indicate a high incidence of COPD in the participating Asia-Pacific territories and a significant socioeconomic burden of the disease in this region. As a result, the importance for adrenergic drug is rising in order to cure and this disease. Additionally, there has been surge in awareness regarding cardiovascular disease in Asia Pacific and the medication available for this. Hence, this is also projected to encourage the adrenergic drug market growth in this region.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?