Long-Acting Beta-Agonists Market Inclinations & Growth Forecast Analyzed during 2018 – 2028 | Sumitomo Dainippon Pharma Co., Ltd., AstraZeneca plc, GlaxoSmithKline plc
Long-Acting Beta-Agonists Market: Drivers and Restraints
The growing demand generated due to increasing incidence of asthma and congestive obstructive pulmonary diseases owing to increasing exposure to risk factors such as growing geriatric and younger population, being overweight, sedentary lifestyles, exposure to allergens and others which is driving a large market. The lower demand for medication owing to the long duration of action of 12 hours in comparison with the 4 to 5 hour duration of short acting beta agonists, making the long-acting beta-agonists ideal candidates for treating nocturnal and chronic asthma.
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According to the Centers for Disease Control and Prevention (CDC), almost 1 in 13 people in the U.S. suffer from asthma representing almost 26 million Americans. In terms of demographics 8.3 percent of adults and 8.3 percent of children suffer from asthma. The CDC also states that asthma is more common in children than adults, with a prevalence of more than 6 million under the age of 18 in the U.S. In clinical terms asthma is responsible for 14.2 million physicians visits, and 1.8 million emergency visits per year in the U.S. and is the third highest ranking cause of hospitalization among children younger than 15 years.
Speaking in economic terms , asthma costs about $3,266 per patient, which includes the cost of health care services, medications, and lost productivity. According to the CDC asthma resulted in $50.3 billion in medical costs to the U.S. from 2008-2013, which is a whopping $81.9 billion in annual economic cost. Thus a large long-acting beta-agonists market is well evident even to an untrained eye. The growing mortality is another driver of the market as in 2015 alone, 3,615 U.S. citizens died from asthma. Technological advancements resulting in product development such as the development of smart inhalers is driving a faster long-acting beta-agonists market adoption.
However, the falling cost of long-acting beta-agonists, competition from alternative drug therapy, and the lower per capita income of the developing world is hampering the long-acting beta-agonists market.
Long-Acting Beta-Agonists Market: Segmentation
To gain a bird’s eye view of the global long-acting beta-agonists market, the report is segmented on the basis of alloys, valve type, and region.
Based on the molecule, the global Long-Acting Beta-Agonists market can be segmented as,
Based on the formulation, the global Long-Acting Beta-Agonists market can be segmented as,
Long-Acting Beta-Agonists Market: Regional Wise Outlook
The global long-acting beta-agonists market can be classified into the following region: North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America, led by the U.S., is expected to drive the largest market share owing to the attractive reimbursement healthcare expenditure, and large number of high income patients.
The Asia Pacific long-acting beta-agonists market excluding Japan is projected to expand and dominate the scene in the near future, owing to the growing healthcare and large young population.
China and India are anticipated to account for the major share of the Asia Pacific long-acting beta-agonists market growth. Germany, France and the U.K., are projected to be the largest drivers of the Europe long-acting beta-agonists market. The Middle East and Africa long-acting beta-agonists market is anticipated to be dominated by the gulf economies of Saudi Arabia, Kuwait, UAE and Qatar.
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Long-Acting Beta-Agonists Market: Market Participants
Some of the major vendors operating in the global long-acting beta-agonists market are Sumitomo Dainippon Pharma Co., Ltd., AstraZeneca plc, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Mylan Inc. and others.
The global long-acting beta-agonists report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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