Asthma is a chronic respiratory disease blocking the airways of lung because of inflammation, mucus production, tighten of muscles. Chronic Obstructive Pulmonary Disease(COPD) is caused by obstruction in the airways causing difficulty in breathing, with the primary cause as tobacco smoking.
Global Asthma and COPD Drugs Market was valued at $38,960 million in 2015 and would reach $50,359 million by 2022, registering a CAGR of 3.7% from 2016 to 2022, according to a new report published by Allied Market Research. Asthma segment dominated the market in 2015 and expected to continue its dominance throughout the forecast period. North America accounted around for around half of the Global Asthma and COPD Drugs market share in 2015.
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Increase in incidence and prevalence of asthma and COPD, growing geriatric population, technological advancement in the treatment of asthma and COPD diseases, growth in initiatives implemented by the government and non-government associations around the Global are the factors that majorly drive the growth of this market. However, stringent government regulations for the product approval, patent expiry of branded drugs, and side effects associated with drugs restrict the market growth.
In 2015, the asthma segment accounted for over 65% share of the overall Asthma and COPD Drugs market. Increase in introduction of generic drugs, and rising prevalence of asthma coupled with geriatric population and changes in lifestyle are the major factors that attribute to the rise in growth of this market.
Among the medication classes, the combination products segment held major share of the Global COPD and asthma drug market in 2015. This segment is expected to maintain its leading position in the overall market throughout the analysis period, primarily because of increase in focus on the effective asthma and COPD management and increase in the research and development of innovative treatment of the diseases.
North America led the market share in 2015, and is expected to maintain this lead throughout the forecast period. The growth in the Asthma and COPD Drugs market in these regions attributes to the increase in the asthma and COPD patients, technological advancement in the treatment. However, Asia-Pacific is projected to be the fastest-growing region, registering a CAGR of 5.1% during the analysis period. This is mainly due to the increase in adoption rate for the technological advancement for treating asthma and COPD diseases. In addition, increase in research outsourcing from emerging markets, improvement of healthcare infrastructures, and increase in expenditures in the emerging markets (such as India and China) have boosted the market growth.
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Key findings ofAsthma and COPD Drugs Market:
- In 2015, COPD was the leading segment of overall Asthma and COPD Drugs market revenue, and is projected to grow at a CAGR of 7.5% during the forecast period.
- Anticholinergics segment is expected to grow at a remarkable CAGR of 6.7%, owing to increased and effective treatment of the disease.
- North America led the Global Asthma and COPD Drugs market in 2015.
- The combination products segment is projected to be the largest revenue-generating medication class segment.
- Japan alone is the major shareholder in the Asia-Pacific region accounting for over two-fifths share of the Asia-Pacific Asthma and COPD Drugs market.
The key players in the Asthma and COPD Drugs market are highly focused on expanding their business operations in the fast-growing emerging countries with new product launches as the preferred strategy. The key players profiled in this report include GlaxoSmithKline (GSK) (U.K), Novartis AG (Switzerland), Merck & Co. (U.S), Abbott Laboratories (U.S), Boehringer Ingelheim (Germany), AstraZeneca (U.K), Roche Holding AG (Switzerland), Teva Pharmaceutical Industries(Israel), Vectura Group (U.K), and Pfizer Inc. (U.S).
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