The Erdosteine Market projected to surpass $185 million by 2027, says Global Market Insights Inc.
The increasing prevalence of respiratory diseases such as chronic bronchitis and chronic obstructive pulmonary disease owing to exposure to industrial emissions, tobacco smoke and indoor pollution should accelerate erdosteine market growth, says this report.
SELBYVILLE, Del., May 27, 2021 (Newswire.com) - Based on Global Market Insights Inc. report, the global Erdosteine Market was estimated at $105 million in 2020 and is slated to exceed $185 million by 2027, registering a CAGR of 8.3% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Erdosteine is a mucolytic drug that helps reduce the thickness of mucus making it easier to cough up thereby increasing its efficiency for the treatment of acute flareups in chronic bronchitis
Global erdosteine market size from nasopharyngitis applications should surpass USD 17 million by the end of the forecast period. The growing prevalence of infectious diseases, allergic rhinitis, and illnesses that weaken the immune system such as HIV & various types of cancers have led to a rise in the cases of nasopharyngitis.
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Product demand from research institute end-use should register over 7.5% gains up to 2027 owing to the shifting focus of pharmaceutical companies to develop new drugs to help satisfy unmet medical needs. Emerging nations primarily in the Asia Pacific such as China and India are increasingly offering favorable policies to encourage pharmaceutical companies to set up R&D institutes. On the other hand, pharmaceutical end-use should surpass USD 80 million by 2027 on account of rising in the elderly population and increasing prevalence of chronic diseases
The Erdosteine market witnessed a consumption of over 210 tons in the Asia Pacific in 2020 and indicates ample growth potential by 2027 pertaining to the expansion of the pharmaceutical sector in the region. Moreover, North America is primarily driven by the substantial number of smokers and growing adoption of e-cigarettes which have been associated with an increased risk of COPD. Latin America should grow at a CAGR of over 5% by 2027 owing to the rising prevalence of smoking and exposure to occupational chemicals.
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Significant economic growth, rising consumer & industrial spending on healthcare and low production cost should drive the pharmaceutical industry growth in the predicted timeframe. China is among the leading producers of active pharmaceutical ingredients (APIs) for over a decade and the country is now focusing on changing its role from a pharmaceutical manufacturing base to a strategic research & development hub which should drive the erdosteine market.
Global erdosteine industry is highly consolidated and includes various key players such as Zhejiang Kangle Pharmaceutical Co., Ltd, Shandong Luoxin Pharmaceutical, Hikma Pharmaceuticals, Hanmi Pharmaceutical, and Reipharm AB.
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