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Asthma Therapeutics Market to Perceive Substantial Growth During 2018–2026 With Top Companies GlaxoSmithKline, Philips Healthcare, AstraZeneca, Teva Pharmaceutical Industries, Boehringer Ingelheim GmbH

06-22-2019 01:46 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Asthma Therapeutics

Asthma Therapeutics

The global asthma therapeutics market was valued at US$ 17,582.2 million in 2018, and is expected to witness a CAGR of 1.9% during the forecast period (2018 – 2026). Asthma is a long-term inflammatory disease that causes inflammation and narrowing of the airways in the lung. It is characterized by various symptoms such as swelling or inflammation in the airways linings, coughing, shortness of breath, and tightness of chest. Asthma is classified into many different types including allergic asthma, non-allergic asthma, adult onset asthma, exercised induced asthma (that occurs with physical exertion), nocturnal asthma, and occupational asthma. Nocturnal is also known as the nighttime asthma. It is very serious type of asthma therefore, it needs a proper diagnosis and treatment.

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Market Dynamics

Increasing launches of nebulizer by key players is expected to propel global asthma therapeutics market growth. In October 2018, Koninklijke Philips N.V. announced launch of its new mesh nebulizer, InnoSpire Go, in North America. This is used for the treatment of respiratory diseases including asthma. It is portable, hand-held nebulizer system, which is short time treatment. It delivers the medicine in just four minutes. InnoSpire Go designed for both adults and children.

Rise in number of respiratory disease cases is expected to drive growth of the global asthma therapeutics market.

Increasing prevalence of respiratory diseases is expected to drive global asthma therapeutics market growth. For instance, according to the World Health Organization’s (WHO) report 2016, around 235 million people suffer from asthma worldwide, annually. Asthma is a progressive and chronic life-threatening respiratory disease. Hence, increasing number of respiratory disease cases support the global asthma therapeutics market growth.

Moreover, increasing awareness activities are contributing to the global asthma therapeutics market growth. For instance, in May 2019, Koninklijke Philips N.V., launched campaign to increase awareness of asthma and related respiratory diseases, especially in children. This campaign was titled as ‘Help Your Child Fight against Asthma’.

Global Asthma Therapeutics Market - Competitive Landscape

Key players operating in the asthma therapeutics market include GlaxoSmithKline Plc., Philips Healthcare, AstraZeneca Plc., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Sanofi-Aventis SA, CareFusion Corporation, Sunovion Pharmaceuticals, Inc. Merck & Co., Inc., and Roche Diagnostics.

Global Asthma Therapeutics Market- Regional Analysis

North America asthma therapeutics market is expected to account for the largest market share during the forecast period, owing to increasing number of product approvals by regulatory authorities in this region. For instance, in September 2018, U.S. Food and Drug Administration (FDA) announced approval of new Xolair (containing-Omalizumab) prefilled syringe formulation, for treatment of allergic asthma. Xolair is manufactured by Novartis AG.

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Moreover, increasing regulatory approvals of new drug for treatment of asthma is expected to boost forecast value of asthma therapeutics market in this region. For instance, in October 2018, U.S. Food and Drug Administration (USFDA) announced approval of new drug Dupixent (contains- Dupilumab), developed by the Regeneron Pharmaceuticals, for the treatment and prevention of pulmonary/respiratory diseases including moderate-to-severe asthma.

Furthermore, Asia Pacific is expected to hold significant market share in the asthma global therapeutics market over the forecast period, owing to increasing product launches by key players in this region. For instance, in April 2019, Cipla announced launch of its new inhaler Niveoli in India. It is India’s first extra-fine particle Beclomethasone-formoterol combination Hydrofluoroalkane (HFA) inhaler for adults. It is indicated for the treatment of obstructive airways diseases (OAD) such as asthma and Chronic Obstructive Pulmonary Disease (COPD).hence increasing number of product launches will support the growth of asthma therapeutics market.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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