Global Erdosteine Market size worth above USD 185 million by 2027
Published Date: May 26, 2021 Authors: Kunal Ahuja, Kritika Mamtani
According to a new research report by Global Market Insights Inc., the Erdosteine Market size is set to surpass USD 185 million by 2027.
Growing incidence of Chronic obstructive pulmonary disease (COPD) primarily in emerging nations such as China, India and Brazil owing to significant levels of outdoor & indoor pollution along with high exposure to tobacco. Moreover, the substantial prevalence of respiratory diseases among children in Asia Pacific significantly increases the risk of developing COPD in adulthood. Also, significant research activities among pharmaceutical companies to investigate the effectiveness of erdosteine for enhancing the recovery of COVID-19 patients should offer ample growth opportunities.
Increasing exposure to toxic gases and industrial fumes should stimulate the market growth from bronchitis application
Bronchitis applications witnessed a consumption over 295 tons in 2020. Growing exposure to toxic gases, chemical or industrial fumes, and air pollution has resulted in a substantial increase in the cases of chronic bronchitis. Rising expenditure by pharmaceutical companies on developing bronchitis treatment solutions along with increasing consumer awareness regarding the illness should augment the erdosteine market share.
Erdosteine is highly effective for the clinical management of chronic bronchitis owing to its rich content of sulfhydryl groups which help break down mucus. The product also helps prevent chronic bronchitis from worsening and attaining an infective stage. Research indicates that chronic bronchitis corelates with increased mortality, hospitalizations and reduced quality of life which should drive the requirement of erdosteine market.
“According to industry forecasts, chronic bronchitis to register about 7% gains by 2027 pertaining to the products high effectiveness in degrading mucus”
Browse key industry insights spread across 130 pages with 63 market data tables and 39 figures & charts from the report, “Erdosteine Market Size By Application (Bronchitis, Chronic Obstructive Pulmonary Disease, Nasopharyngitis), By End-Use (Pharmaceutical, Contract Manufacturing Companies, Research Institute), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing pharmaceutical outsourcing to achieve cost savings and conserve resources should augment endosteine demand from contract manufacturing companies
Erdosteine market size with regards to contract manufacturing companies should surpass USD 65 million by 2027 on account of rising focus of pharmaceutical companies on outsourcing their manufacturing activities. This arrangement allows companies to allocate their resources primarily on their core competencies which helps generate more value. Rising cases of drug patent expiry and growing demand for affordable generic medicines should further drive contract manufacturing operations.
Growing outsourcing of manufacturing operations from pharmaceutical companies in developed countries such as the U.S., Germany and UK to low-cost manufacturing centers in China & India in order to achieve cost savings should drive the growth of erdosteine market. Moreover, the rapid outbreak of the COVID-19 pandemic led various pharmaceutical & biotechnology companies to seek long-term collaborations, agreements and partnerships with contract manufacturing companies to enhance the R&D and manufacturing operations.
“As per market forecasts, Contract manufacturing companies should register a CAGR over 8.5% by 2027 owing to growing outsourcing activities by pharmaceutical companies”
Significant exposure to particulate matter pollutants in Europe should drive regional market growth
Europe should register over 8% gains by the end of the forecast period owing to substantial exposure to air pollutants such as particulate matter, nitrogen dioxide and ozone. Chronic exposure to particulate matter (PM2.5) significantly increases the risk of developing various respiratory diseases such as COPD, bronchitis & asthma apart from other illnesses such as stroke and heart diseases.
The substantial presence of various polluting industries in Europe such as energy supply sector which accounts for a prominent share of carbon dioxide & sulfur oxide emissions and the ferrous metal industry which emits heavy metals. Moreover, significant rate of tobacco usage by adolescents and high incidence of tobacco smoking by adults should further increase the risk of respiratory illnesses and augment the erdosteine market share.
Major erdosteine manufacturers are engaged in strategic agreements such as partnerships, joint ventures, acquisitions and mergers to expand their distribution network. Suppliers are also focusing on constant innovation to launch new products with broader application potential. The major manufacturers in erdosteine indusrty include Hanmi Pharmaceuticals Co., Ltd, Recipharm AB, Zhejiang Kangle Pharmaceutical Co., Ltd, Hikma Pharmaceuticals and Shandong Luoxin Pharmaceutical.