Market Insights
Asthma is a chronic respiratory disease that mainly affects the airways of the lung and is characterized by wheezing, coughing, breathlessness, and chest tightness. Asthma can be caused by genetic or environmental factors. There is no cure for asthma, but it can be controlled by using different medications. The unknown etiology of the disease is a major challenge to the therapeutic asthma market.
The report titled “Global Asthma Therapeutics Market: Growth, Future Prospects, and Competitive Analysis, 2016–2024” offers strategic insights into the overall asthma therapeutics market, along with the market’s size and estimates for the duration of 2016 to 2024. The research study covers an in-depth analysis of market segments based on drug class, product type, route of administration, and different geographical regions.
In order to help strategic decision-makers, the report also includes sections on the competitive profiling of the leading players in the global asthma therapeutics market, an attractive investment proposition, and the market positioning of key manufacturers. Other in-depth analysis provided in the report includes:
Geographically, the global asthma therapeutics market is studied for the following regional markets:
- North America
- Europe
- Germany
- France
- UK.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
The market size and forecast for these regional and country-level markets are presented in this study for the period 2014–2024. Market growth rates for the forecast period 2016–2024 are also included in this report, considering 2015 as the base year.
Along with quantitative information, qualitative information sets and assessment tools are provided in this study for a better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges, and opportunities assists the readers in understanding the ongoing trends in the global asthma therapeutics market. Tools such as key player market positioning and an appealing investment proposition provide readers with insights into the competitive landscape of the global asthma therapeutics market. This report concludes with a company profiles section that highlights major information about the key players engaged in the global asthma therapeutics market. In-depth competitive environment analysis and historical 2014 market size data are also provided in the report.
Thus, the research study provides a holistic view of the global asthma therapeutics market, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above-mentioned factors.
Based on the drug class, the global asthma therapeutics market is segmented as follows:
- Anti-inflammatory drugs
- Bronchodilators
- Combination therapy
Asthma is a chronic lung disease for which there is no cure, but symptoms can be managed with medication. Anti-inflammatory drugs such as inhaled corticosteroids, leukotriene modifiers, mediator release inhibitors, and theophylline are long-term asthma control medications used to keep asthma under control. Bronchodilators are quick-acting, short-term symptom relief medications that include drugs such as beta-agonists, methylxanthines, and intravenous corticosteroids.
In the base year of 2015, combination therapy held the largest market share in the global asthma therapeutics market. In combination therapy, patients are treated with inhaled corticosteroids (ICS) and long-acting beta-agonists (LABA); an example of this class is Advair by GlaxoSmithKline. Because of the increase in patient compliance with this type of therapy, which is administered as a once-daily dose, the global market for combination therapy will experience moderate growth during the forecast period. In addition to this, the presence of a late-stage pipeline molecule in combination therapy would further drive market growth. The global bronchodilator market will experience sluggish growth during the forecast period because of the patent expiries of major brands, which lead to the entry of generic drugs and the erosion of sales of branded drugs. The global bronchodilators market will continue to grow due to emerging trends such as the use of biologics and the increasing use of bronchodilators in combination with corticosteroids. Currently, only one biologic, Xolair (omalizumab), is approved as an add-on therapy for the treatment of asthma. The market will be hit by further patent expirations for Xolair and Spiriva in 2017 and 2018, respectively. Anti-inflammatory drugs such as leukotriene antagonists and mast cell stabilizers will steadily grow during the forecast period despite the limited use of these drugs in the market because of the increasing popularity of daily combination therapeutics.
Based on the product type, the global asthma therapeutics market is segmented as follows:
- Dry Powder Inhalers (DPI)
- Metered-dose inhalers (MDI)
- Mist Inhaler
- Nebulizer
In the base year 2015, metered dose inhalers (MDIs) were observed as the largest revenue-generating segment and are anticipated to grow further during the forecast period of 2016 to 2024. MDIs used as asthma rescue inhalers or reliever medicines generally contain a bronchodilator, a corticosteroid, or a combination of both drugs. The main benefit of MDI is that it delivers a consistent dose of medication directly to the lungs. However, MDIs are not very efficient to use as they release environmentally hazardous gases, which is negatively impacting the market growth of the MDI segment. Dry Powder Inhalers (DPIs) will be the most lucrative market segment during the forecast period because consumption patterns are shifting to DPIs, which are easier to use than MDIs and also have some sort of inbuilt dose counter. However, DPIs have some disadvantages, such as being more susceptible to contamination and more expensive, which hinder the market growth during the forecast period. The mist inhaler is a novel drug delivery system that has been developed over the last two decades to deliver medication in metered doses. Currently, only one mist inhaler, Respimat by Boehringer Ingelheim, is available in European countries. A nebulizer converts liquid medicine into vapor or mist so that it can be inhaled directly. Certain advantages associated with nebulizers include immediate application of medicine, ease of use, and being an ideal option for home healthcare use for debilitated patients and geriatrics, which contribute to the market growth of the global asthma market. However, the major disadvantages of using a nebulizer include the fact that it requires a power source and is more expensive and bulkier to use, which has a negative impact on the nebulizer market growth. The increased prevalence of asthma, a rise in health awareness, and increased demand for respiratory inhaler devices play a major role in the growing global asthma device market.
Based on the route of administration, the global asthma therapeutics market is segmented as follows:
- Inhalation
- Oral
- Parenteral
In the base year of 2015, the inhaled drug segment was the largest revenue-generating segment in the global asthma therapeutics market due to advantages associated with the use of inhaled drug therapy, such as the rapid onset of action, less systemic toxicity, and higher concentration availability at the site of action. Bronchodilators and corticosteroids are usually given by the inhalation route. A metered-dose inhaler, a dry powder inhaler, and a nebulizer are generally used to deliver inhalation drugs for asthma. The use of inhaled corticosteroids in combination therapy is a therapeutic trend observed in the market. The rise in the incidence of asthma and increasing compliance with inhalation asthma therapeutics provide opportunities for manufacturers to invest in the inhaler device market. GlaxoSmithKline’s Advair, Boehringer Ingelheim’s Spiriva, and AstraZeneca’s Symbicort are the major contributors to the inhaled asthma drug market. However, the patent expiration of some blockbuster drugs, such as Symbicort and Flovent, results in a decrease in the global inhalation drug market’s overall revenue. Theophylline, corticosteroids in combination with short-acting beta-agonists, and leukotriene modifiers are generally given by oral route to treat asthma. Oral blockbuster drug Singulair, manufactured by Merck, is currently suffering sales losses due to generic counterparts available in the market. Corticosteroids, aminophylline, and 2-agonists are generally given by the parenteral route. Intravenous drug therapy is recommended when inhaled therapy cannot be used, such as in emergency conditions. Novartis’ blockbuster drug Xolair is given by the subcutaneous route. And it is the only biologic therapy licensed in many countries for the treatment of asthma.
For the purpose of this study, the asthma therapeutics market is categorized into three segments:
- North America
- Europe
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
Asthma is a chronic lung disease of the airways that causes recurring episodes of wheezing, breathlessness, chest tightness, and coughing. For the treatment of asthma, bronchodilators and anti-inflammatory drugs are generally prescribed, depending on the disease condition.
In the base year 2015, North America was the largest contributor to the global asthma therapeutics market and occupied a significant portion of the global market. Higher prices of asthma medications and the lack of generic asthma inhalers drive the US asthma market. The North American market will grow faster during the forecast period due to increasing pollution coupled with a rise in the prevalence of asthma, the expected launch of pipeline molecules, and a delay in the surge of generic competition in this market. Also, the high cost of treatment and increasing demand for asthma therapeutics contribute to market growth in this region. Europe is the second-largest market in terms of revenue for asthma therapeutics, and it is anticipated to grow at a steady rate during the forecast period. The prevalence of asthma increased in the latter part of the 20th century, but now the prevalence is stable in many European countries. The market in Europe is dominated by the UK, Germany, France, Italy, and Spain. In some countries, such as Finland and France, the active participation of government health departments for asthma control would further drive the market in these regions. Key factors such as economic development, increasing healthcare awareness, a high growth rate, and rising funding by government agencies and private organizations in the Asia Pacific region are expected to drive the market’s growth throughout the forecast period of 2016–2024. China, Japan, South Korea, India, and Australia dominate the global asthma market in the Asia-Pacific region.
