Asthma and COPD Drugs Market will be worth US$18.7 bn by 2024
Posted: Jan 26, 2019
The asthma and COPD drugs market in US and China is expected to show a consolidated competitive landscape. In 2015, the leading players within the US and China asthma and COPD drugs Market accounted for 64% of the total Market, according to a recent research report by transparency market research TMR. The names of the leading players within the US and China asthma and COPD drugs market are: Merck & Co. Inc., Astrazeneca plc, Novartis AG, GlaxoSmithKline plc, and Boehringer Ingelheim.
According to the TMR report, the US and China asthma and COPD drugs market will be worth US$18.7 bn by 2024. On the basis of different types or classes of drugs come on the market is segmented into anti-inflammatory drugs, combination drugs, bronchodilators, and monoclonal antibodies. Among these, it is the combination drug segment which is witnessing highest growth. The segment accounted for 54% of the total US market in 2015. The combination drug segment is expected to continue to lead throughout the focus period on account of positive recommendations from organizations such as Global initiative for asthma and Global Initiative for chronic obstructive lung disease, which state that blends the dates are more secure course of treating asthma and COPD.
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On the basis of geography, among the US and China, it is the US which is dominating in the asthma and COPD drugs Market on account of High awareness level among the people regarding the availability of drugs and treatment options. Regular product launches and continues Investments by leading players in the research and development sector will also help the market to grow in the US. In 2016, the US accounted for a whopping 81% of the total market.
China on the other hand accounts for the relatively small share in the asthma and COPD drugs Market, but is expected to present liquid growth opportunities for Market players in the coming years. China is expected to exhibit at 10% in the asthma COPD drugs Market. The factors associated with the increasing number of asthma patients, Rising air pollution, and vast unmet medical needs of the patient population. The increasing number of smokers is also an important factor contributed to the growth of the market in China.
According to the lead author of this report, asthma and COPD are two disorders which are affecting a large number of population today and is behind the growth of the US and China asthma and COPD drugs market. These two disorders are increasingly becoming a factor for increased number of deaths and therefore effective treatment is highly in demand. The FDA endorsements for novel treatment options is expected to contribute to the growth of the US and China asthma and COPD drugs market. So the other factors helping the market to grow is the growing geriatric population, lifestyle changes, increasing number of smokers, increase in pollution, and rising industrialization.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia