Asthma and COPD Drugs Market will rise to US$ 18.7 Billion by 2024
The market is expected to exhibit growth at a moderate pace in the first few years of the forecast period, chiefly owing to the patent expiries of leading drugs and the subsequent price erosion. However, the market is expected to witness new drug candidates by 2020, which will help the market tread along a better growth path in the forthcoming years.
Transparency Market Research estimates that the market will exhibit a 4.1% CAGR from 2016 through 2024, rising to a valuation of US$18.7 bn by 2024 from US$13.0 bn in 2015.
Read Full Report: http://www.transparencymarketresearch.com/us-china-asthma-copd-drugs-market.html
On the basis of drug classes in the U.S. and China asthma and COPD drugs market, the report examines the future scope of growth for varieties such as bronchodilators, anti-inflammatory drugs, monoclonal antibodies, and combination drugs.
Of these, the segment of combination drugs is presently the leading segment. It accounted for a 54% of the U.S. and China asthma and COPD drugs market in 2015 and is expected to continue to dominate throughout the report’s forecast period. Combination drugs benefit from the recommendations from agencies such as Global Initiative for Chronic Obstructive Lung Disease (GOLD) and Global Initiative for Asthma (GINA), which regard combination drugs as the safer course of managing asthma and COPD.
The segment of monoclonal antibodies is expected to emerge as a prominent drug class for the management of asthma and COPD in the next few years. Emergence of new drug candidates in this segment will bolster its growth potential in the market during the report’s forecast period.
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In the U.S. and China market for asthma and COPD drugs, the U.S. market clearly dominates, accounting for a more than 81% of the overall market in 2016. The key factors to have benefitted the U.S. market, despite it being a relatively smaller market in terms of population, include the high costs of asthma and COPD drugs and a high level of attentiveness paid by consumers to healthcare and wellness. The U.S. market also contributes significantly to the overall asthma and COPD drugs market through regular product launches and high investments by leading companies for R&D in the areas of combination therapies and biologics.
Although China presently accounts for a relatively smaller share in the U.S. and China asthma and COPD drugs market, the country is expected to present attractive growth opportunities in the next few years. The China market for asthma and COPD drugs will exhibit an impressive 10% CAGR over the period between 2016 and 2024. The key factors attributable to this projection are the rising number of asthma patients, owing chiefly to rising levels of air pollution, and a vast array of unmet medical needs.
The rising prevalence of COPD in the country is chiefly owing to the high and rising number of smokers. The China market for asthma and COPD drugs also comes across as a more attractive market than the U.S. market owing to a low level of competition and high rate of growth.
Some of the leading vendors presently operating in the U.S. and China asthma and COPD drugs market profiled in the report are Boehringer Ingelheim, GlaxoSmithKline plc, Merck and Co., Inc., Novartis AG, AstraZeneca plc, and F. Hoffmann-La Roche.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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