Global Asthma and COPD Drug Market – The Fundamentals
According to the World Health Organization, asthma is the most common chronic disease among children. While around 235 million people worldwide suffer from asthma, the disease is often under-diagnosed and under-treated, creating considerable burden to families and individuals and restrict daily activities to a certain extent.
Chronic obstructive pulmonary disease (COPD), a life-threatening lung disease, killed over 3 million people in 2012, with over 90.0% deaths occurring in low and middle-income nations, according to the WHO.
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Medication and appropriate management can control asthma and COPD, avoiding triggers that spike the severity of the disease, thereby enabling people to enjoy a good quality of life. Even though COPD is not curable, effective drugs and other treatments can slow the progress of the disease.
The report on asthma and COPD drugs market studies the development of novel drugs and various innovative treatment options. The contribution and performance of leading branded drugs in the market is evaluated at length, highlighting factors that work in favor of the asthma and COPD drugs market and those that hamper its growth.
Overview of the Asthma and COPD Drug Market
The report states that developing at a tepid 1.03% CAGR from 2010 to 2017, the global market for asthma and COPD drugs is poised to grow from a value of US$25,102.3 mn in 2010 to US$26,965.5 mn in 2017.
Factors such as alarming levels of air pollution, daily exposure to hazardous working environments, rise in aging population susceptible to air pollutants, increasing population of smokers, growing influx of air pollutants, rise in healthcare expenditure, strong research and development activities, rise in disposable income, and favorable government initiatives have continued to boost the global asthma and COPD drugs market. However, high cost of asthma treatment, patent expiry of several blockbuster brands, significant section of uninsured population, and long treatment duration threaten to impede the growth of the asthma and COPD drugs market.
In 2010, Asia Pacific dominated the global market, with China emerging among the top ranking countries owing to rising number of asthma patients. Rapid urbanization, air pollution, change in lifestyle, and rise in smoking population has resulted in higher occurrence of asthma symptoms in urban China, thereby fueling the demand for asthma and COPD drugs. During the forecast period of 2010 to 2017, North America is anticipated to record the highest CAGR of 3.90% owing to factors similar to China.
Companies Mentioned in the Report
Some of the major companies competing in the asthma and COPD drug market are Mylan, GlaxoSmithKline, Amgen, Dr. Reddy’s Laboratories, Aurobindo, AptarGroup, Pfizer, Vectura, Ranbaxy, F. Hoffmann-La Roche, Cipla, AstraZeneca, Novartis, Abbott, Boehringer Ingelheim, Actavis, Merck, Sunovion, and Glenmark. The most prominent players are profiled in the research report based on aspects such as company overview, business strategies, recent developments, product portfolio, and financial performance.
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