Bronchial Spasm Sector: Growth Drivers and Challenges
Growth Drivers
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Growing Demand for Inhalers to Boost the Market Growth - For instance, more than 5000 individuals are recommended to use reliever inhalers annually worldwide.
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Increasing Prevalence of Fungal Infection - For instance, more than 100 million cases of fungal infections are diagnosed worldwide annually and nearly 1.5 million deaths are caused by these fungal infections.
- Fungal infection in the lungs most commonly results in asthma since fungi are responsible to colonize the tracheobronchial tree with adequate release of antigens. These antigens can either trigger or worsen asthma. Aspergillus is the most common fungus to cause lung infections. Hence, such a prevalence of fungal infection is estimated to propel the market growth over the forecast period.
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Rising Cases of COPD Across the Globe- As of 2019, approximately 3 million people died due to chronic obstructive pulmonary disease (COPD) making it 3rd leading disease to cause death globally.
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Remarkable Increment in the Healthcare Expenditure- World Bank released a set of data stating the health expenditure to hit USD 1,121 per capita in 2019.
Challenges
- Higher Cost Associated with Treatment
- Shortage of Medication and Skilled Medical Professionals
- Lack of Awareness in Rural Areas of the Related Diseases
Bronchial Spasm Market: Key Insights
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~5% |
