Asthma And COPD Drug Market Driven By Increasing Patient Population, Trends And Opportunities

Asthma and COPD Drug Market: Overview

The multi-billion dollar global asthma and chronic obstructive pulmonary disease (COPD) drugs market has been expanding at a steady pace, fueled primarily by the growing patient population. The World Health Organization estimates that in 2015, the number of deaths caused by COPD stood at 3 million. The organization also states that at present, there are around 235 million people suffering from asthma around the globe. While both asthma and COPD cannot be cured, the symptoms can be managed and controlled with the help of appropriate medication. These drugs not only help relieve symptoms, but also increase the patient’s exercise capacity and enable them to lead a better life.

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This report is designed to guide clients in identifying the main areas of growth in the asthma and COPD drugs market and equip them with the right tools to face the challenges that lie ahead. Major opportunities have been highlighted and suggestions on how to overcome various hurdles have been discussed at length.

Asthma and COPD Drug Market: Trends and Opportunities

The global asthma and COPD drugs market is estimated to value US$26.9 bn by the end of 2017. Poor air quality in several emerging economies of the Middle East and Africa, Asia Pacific, and Latin America – such as India, China, Russia, and Brazil – has resulted in the increased prevalence of various respiratory diseases. This has upped the demand for and consumption of asthma and COPD drugs. Some of the other major factors driving the market are rising geriatric population, growing prevalence of asthma and chronic obstructive pulmonary disease, strong pipeline products, technological advancements, rising health awareness, greater spending on healthcare, and increasing government as well as non-government support and initiatives.

On the down side, certain side effects of asthma and COPD drugs, strict regulatory requirements for drug approvals, and patent expiry of blockbuster drugs threaten to keep this market from realizing its full potential. Be that as it may, developing countries have been providing immense opportunities for growth. The introduction of generic drugs by local and regional players in these countries will open new doors for companies looking to invest in and capitalize on the opportunities presented here.

Asthma and COPD Drug Market: Regional Outlook

North America accounts for a prominent share in the global market for asthma and COPD drugs, with the U.S. emerging as the clear leader. Higher patient awareness and increased prices of asthma and COPD drugs are the primary factors driving the U.S. market in terms of revenue. Strong pipeline studies and products also reflect positively on this market and indicates that the country-wide market will continue to play a major role in the development of the North America market for asthma and COPD drugs. A significant rise in initiatives by government and public bodies and growing investments made by them have also contributed toward the expansion of this market.

However, despite these strong factors in its favor, North America is projected to witness a decline in terms of market share owing to the immense potential of other emerging regional markets. The patent expiry of major blockbuster drugs by pharmaceutical companies based out of North America will also result in a drop in market share.

Asia Pacific continues to be a promising market for asthma and COPD drugs thanks primarily to the rising incidence of respiratory diseases. This can be attributed to alarming air pollution and increased population of smokers.

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Companies mentioned in the report

Roche Holding AG (Switzerland), Vectura Group (U.K.), Teva Pharmaceutical Industries (Israel), Novartis AG (Switzerland), Boehringer Ingelheim (Germany), GlaxoSmithKline (GSK) (U.K.), Merck & Co. (U.S.), Abbott Laboratories (U.S.), Pfizer (U.S.), and AstraZeneca (U.K.) are some of the prominent companies operating in the global asthma and COPD drug market. Most players in the market have been focusing their capabilities on expanding in emerging economies owing to the immense opportunities available there. Development of innovative products through R&D and clinical trials is also a key growth strategy adopted by players in the asthma and COPD drugs market.

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