Global Asthma and COPD Drug Market a CAGR figure of 1.03% by 2017
According to the new report published by Transparency Market Research “Asthma and COPD Drug Market – Global Industry Analysis, Market Size, Share, Trends, Growth and Forecasts, 2010 – 2017”, the global asthma and COPD market was worth USD 25,102.3 million in 2010, which is expected to reach USD 26,965.5 million in 2017 along with a CAGR figure of 1.03% over the forecasted period (2010 – 2017).
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The current asthma and COPD market is primarily driven by increasing patient population. It is also growing due to factors such as price erosion and expiry of patents of leading drug brands in the market. However, it is estimated that in the next five years, the global asthma and COPD drug market is expected to grow slowly and steadfast. In 2010, the asthma drug segment dominated the overall asthma and COPD market at USD 14,509.1 million. In the same year, the COPD segment was projected to be worth USD 10,593.2 million and is expected to reach USD 12,619.8 million in 2017.
In medical parlance, asthma is defined as a respiratory condition wherein, the airways through which a body breathes becomes inflamed and constricted due to one or more environmental triggers. This condition is considered to be a serious disorder in a human body and over 300 million people suffer from asthma in the world. Asthma is often treated with drug therapy and by avoiding any type of triggers. The total drug market for asthma is worth over $15 billion.
For several decades, pharmaceutical companies have created more effective asthma products and faster acting drugs to treat asthma. The latest generation of asthma drugs such as GlaxoSmithKline’s Advair and AstraZeneca’s Symbicort are now poised to take over the older products in the market. GlaxoSmithKline, AstraZeneca and Merck will continue to be the market leaders until their patents expire in the forthcoming years. However, Symbicort, Advair and Singulair would still remain to be the leading drugs of the global asthma and COPD market for the forecast period 2010 – 2017. Advair was seen as the market leader to treat asthma with USD 7,802 million in 2011, followed by Singulair which was the second largest drug in terms of revenue at UD 5479 million in 2011.
Also, due to the rising demand of new entrants in combinational therapies, beta-agonists, and inhaled corticosteroids, the extreme competition in the asthma market is becoming popular and intense now-a-days. The opportunities are growing in the asthma and COPD market as huge companies are focusing on contract manufacturing outsourcing (CMO) and key market players are involved into developing new products to treat asthma better.
This research report is specially designed to analyze and estimate the market demand, performance and size of the overall Asthma and COPD Market in a global scenario. Along with the historical data and forecasts, the report also includes the market size, in-depth analysis of value chain, product sales, production forecasts and various other key factors driving and restraining this market. One of the most noticeable factors driving this market is – the increase in awareness about the regular diagnosis for Asthma and COPD, and availing the healthcare equipment for the detection of illness and disorder in the rural areas. Such factors will likely boost the market and growth opportunities for market players across the world.
The recent years has showed China as one of the top ranking countries in occurrence of asthma patients. The factors affecting it are air pollution, growth in urbanization, increased smoking activities, and change in lifestyle. The occurrence of asthma symptoms is higher in the urban China towns as compared to the rural areas.
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