The global asthma therapeutics market accounted for USD 20.7 billion as of 2015. Increasing incidences of respiratory diseases coupled with the demand for cost-effective treatment options is expected to drive the asthma therapeutics market growth during the forecast period from 2016 to 2024.
According to the estimates published by the Global Initiative for Asthma (GINA), in the year 2013, around 300 million patients globally were reported to be afflicted with this disease and the number is expected to grow in the coming years. This is one of the crucial reasons for increasing adoption of asthma therapeutics worldwide. Furthermore, factors, such as the rising indoor and outdoor causative agents including pollution, allergens, and dust, among others, coupled with the changing lifestyles that influence the incidences of asthma are additionally fueling the demand for asthma therapeutics over the forecast period.
North America dominated the overall asthma therapeutics market in terms of revenue share in 2014 at over 50.0%. The escalated incidence rate of asthma, increased awareness levels pertaining to treatment options, and the rising adoption of inhaled therapeutics are some of the major factors attributing the largest revenue share of this region. The European market is set to witness steady growth mainly due to the presence of a considerably developed pharmaceutical industry and the significant demand for asthma-related therapeutics. With the increasing geriatric population, susceptible to acquire respiratory conditions, such as asthma, will further support to the growth of regional market in the U.S.
Asia Pacific on the other hand is expected to be the fastest growing market by registering a CAGR of over 3.5% during the forecast period attributable to the generic competition, increasing asthma prevalence, and the demand for cost-effective treatment options for patients.
Some of the key players in this industry 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. The market for asthma therapeutics is expected to experience steady growth primarily due to the branded drugs approaching their impending patent expiration dates and the intensive generic competition in the developing nations.
For instance, the patent for Singulair (montelukast) by Merck & Co., Inc. expired in 2012 that resulted in the fall of 90% of the sales in a period of 4 weeks. Furthermore, the patent expiry of seven more anti-inflammatory drugs during the forecast period is expected to impact the asthma therapeutics market growth.
https://www.grandviewresearch.com/industry-an...ics-market
According to the estimates published by the Global Initiative for Asthma (GINA), in the year 2013, around 300 million patients globally were reported to be afflicted with this disease and the number is expected to grow in the coming years. This is one of the crucial reasons for increasing adoption of asthma therapeutics worldwide. Furthermore, factors, such as the rising indoor and outdoor causative agents including pollution, allergens, and dust, among others, coupled with the changing lifestyles that influence the incidences of asthma are additionally fueling the demand for asthma therapeutics over the forecast period.
North America dominated the overall asthma therapeutics market in terms of revenue share in 2014 at over 50.0%. The escalated incidence rate of asthma, increased awareness levels pertaining to treatment options, and the rising adoption of inhaled therapeutics are some of the major factors attributing the largest revenue share of this region. The European market is set to witness steady growth mainly due to the presence of a considerably developed pharmaceutical industry and the significant demand for asthma-related therapeutics. With the increasing geriatric population, susceptible to acquire respiratory conditions, such as asthma, will further support to the growth of regional market in the U.S.
Asia Pacific on the other hand is expected to be the fastest growing market by registering a CAGR of over 3.5% during the forecast period attributable to the generic competition, increasing asthma prevalence, and the demand for cost-effective treatment options for patients.
Some of the key players in this industry 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. The market for asthma therapeutics is expected to experience steady growth primarily due to the branded drugs approaching their impending patent expiration dates and the intensive generic competition in the developing nations.
For instance, the patent for Singulair (montelukast) by Merck & Co., Inc. expired in 2012 that resulted in the fall of 90% of the sales in a period of 4 weeks. Furthermore, the patent expiry of seven more anti-inflammatory drugs during the forecast period is expected to impact the asthma therapeutics market growth.
https://www.grandviewresearch.com/industry-an...ics-market
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