Global asthma therapeutics market is expected to reach USD 25.6 billion by 2024, according to a new study by Grand View Research, Inc.
The
increasing prevalence of asthma coupled with the adoption of biologics as a
long-term treatment option to treat the severe form of asthma is expected to
offer this market with lucrative growth opportunities. According to the
statistics published by the World Allergy Journal, in May 2014, patients
suffering from asthma registered around 300 million and the number is expected
to soar due to a large number of individuals inclining towards unhealthy
dietary habits and sedentary lifestyles.
In
addition, patent expiration of branded drugs, such as Singulair, Advair and
other major drugs during the forecast period has led to a stiff generic
competition, which will negatively impact the asthma therapeutics market growth
in the coming years. On the contrary, the introduction of biologics is accruing
towards the increasing market share of the asthma therapeutics segment, and is
anticipated to continue during the forecast period.
The
enhanced demand for personalized medicine approach as opposed to the
conventional medication prescription pattern for treatment of severe asthma is
anticipated to aid the emergence of asthma therapeutics market in the future.
In addition, development of technologically advanced products, such as
pressurized metered dose inhalers and smart inhalers, equipped with sensor
technology and inbuilt wireless communication system is further expected to
propel the asthma therapeutics market growth in the next seven years.
Full Research Report On Asthma Therapeutics Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/asthma-therapeutics-market
Further key
findings from the study suggest:
- The anti-inflammatory drug
class is expected to exhibit rapid growth at a lucrative CAGR of 3.4% over
the forecast period owing to the introduction of affordable and innovative
biologics targeting the severe asthma condition. In addition, the
awareness gained pertaining to the benefits rendered by the biologics and
monoclonal antibodies is anticipated to exhibit an upward shift in the
market expansion in the coming years.
- The dry powder inhalers
(DPIs) are expected to be the fastest growing segment due to the
increasing adoption of these devices because of their high clinical
efficiency than other inhalers. They are able to deliver both, small and
large-sized drug components and dispense specialty engineered molecules.
These related merits have spiked the adoption rates thereby contributing
towards the risen market penetration.
- Rising number of individuals
opting for alternative treatment options, such as inhaled fixed-dose
combination drugs for asthma medication is anticipated to serve this
market with future growth opportunities. The inhalers market is expected
to grow at a CAGR of above 2.0% over the forecast period.
- Some of the key players
operating in the asthma therapeutics market include AstraZeneca Plc,
Philips Healthcare, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline
Plc, Sanofi-Aventis SA, CareFusion Corporation, Sunovion Pharmaceuticals,
Inc., Boehringer Ingelheim GmbH, Roche Diagnostics, and Merck& Co.,
Inc.
- Market leaders are focusing
on the introduction of technologically advanced devices and novel,
improved biologics to gain a competitive advantage. The asthma
therapeutics segment has a very strong pipeline as there are almost 100
novel molecules that are in the development phase and manufacturers are
focusing on the development of personalized medication. The aforementioned
factors collectively strengthen the industry growth in the near
future.
- For instance, drug
molecules, such as Cinquil by Teva Pharmaceutical Industries Ltd.,
Lebrikizumab by Roche (Phase III), Mastinib by AB Science (Phase II/III),
and Bosatria by GlaxoSmithKline Plc (Phase III), are in the development
stage undergoing clinical research trials. Their commercial availability
during the forecast period is expected to provide a boost to this
vertical.
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Grand View Research has segmented
the global asthma therapeutics market on the basis of drug class, product,
route of administration, and region:
Global Asthma
Therapeutics Drug Class Outlook (Revenue, USD Million, 2013 – 2024)
- Anti-inflammatory
- Bronchodilators
- Combination therapy
Global Asthma
Therapeutics Product Outlook (Revenue, USD Million, 2013 – 2024)
- Inhalers
- Dry powder inhalers
- Metered dose inhalers
- Soft mist inhalers
- Nebulizers
Global Asthma
Therapeutics Route of Administration Outlook (Revenue, USD Million, 2013 –
2024)
- Oral
- Inhaled
- Intravenous
Asthma Therapeutics
Regional Outlook (Revenue, USD Million, 2013 – 2024)
- North America
- U.S.
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- India
- Latin America
- Mexico
- Brazil
- MEA
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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