Asthma and COPD Drugs Market is likely to expand at a modest CAGR of 4.1% through 2016 - 2024
According to Transparency Market Research, the opportunity in the U.S. and China asthma and COPD drugs market is slated to rise from a valuation of US$13.0 bn in 2015 to be worth US$18.7 bn by 2024. If these values hold true, the market is likely to expand at a modest CAGR of 4.1% therein. us china asthma copd drugs market China Poised to Witness Strong Growth by 2024
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On the basis of drug class, the combination drugs segment is projected to account for a 55.4% share by 2024. This is attributed to the steadily rising preference for combination therapies as prescribed by doctors and the launch of new triple combination therapies during the forecast period. Expanding at the highest CAGR of 4.4% from 2016 to 2024, this segment offers immense scope for growth.
“Combination drugs are analyzed to be the most lucrative segment of the asthma and COPD drugs market, with a high attractiveness index. This is clearly evident from the increased sales of this class of drugs in 2015,” the author of the report states.
In terms of indication, asthma is projected to account for a higher share as compared to COPD during the forecast period. This is due to the increasing adoption of asthma drugs driven by higher diagnosis rates. Asthma is also evaluated to be the most lucrative segment of the asthma and COPD drugs market.
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From a geographical standpoint, the U.S. is the dominant segment of the asthma and COPD drugs the market owing to greater awareness among patients and higher prices of these drugs. Although the country accounted for a whopping 81.4% share in 2015, it is estimated to lose market share by the end of the forecast period. On the other hand, China is poised to witness strong growth in the coming years, registering a 10.0% CAGR from 2016 to 2024.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend 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.
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