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Preventive Asthma Drugs Market Pegged for Robust Expansion by 2025

03-14-2018 12:29 PM CET | Health & Medicine

Press release from: Transparency Market Research

Preventive Asthma Drugs Market Pegged for Robust Expansion

Asthma is a chronic inflammatory disease of the airways caused by recurrent attacks of breathlessness, bronchospasm, and reversible airflow obstruction. Asthma is a life threatening lung disease that hinders normal breathing. It has become one of the most common diseases that affects quality life of patients. It has been anticipated by the physicians the cases for asthma and COPD are increasing on a magnificent level. An estimated 300 million people suffer from asthma globally, with around 250,000 deaths each year.

According to the American Academy of Allergy, Asthma, and Immunology, asthma can be classified into four types: exercise-induced, occupational, childhood, and allergic. The Asthma and Allergy Foundation of America classifies asthma into two categories: allergic and non-allergic. Asthma can be controlled by preventive medicines, which ought to be managed to the patient regularly to enhance his quality of life by controlling the frequency and intensification of asthmatic attacks. Occurrence of asthma is common in both genders owing to increased usage of tobacco and exposure to smoke of biomass fuels used for cooking.

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Increase in incidence of asthma and rise in industrialization leading to high air pollution are the major factors anticipated to drive the global Preventive Asthma Drugs Market. Asthma is a well-recognized disorder. Hence, simple diagnostic tests such as spirometry, polysomnography devices, peak flow meters, and other diagnostic devices are available in the market. Several drugs are also available in the market for the treatment of asthma including Advair and Pulmicort. Unknown disease etiology is the major restraint of the market.

The global preventive asthma drugs market can be segmented based on product type and application. In terms of product type, the market can be segmented into immunosuppressants, corticosteroids, combination of LABA/ICS, leukotriene antagonists, and mast cell stabilizers. Corticosteroids are projected to account for the largest share of the market. The most commonly prescribed corticosteroids are Seretide/Advair and Flixotide/Flovent. Based on application, the global preventive asthma drugs market can be segmented into children and adults.

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Geographically, the global preventive asthma drugs market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global market, followed by Europe, due to increased awareness among people and well developed medical system. However, the market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to increase in incidence of asthma and adoption of modern lifestyles. Additionally, increase in number of contract manufacturing organizations in Asia Pacific drives the preventive asthma drugs market in the region. According to the WHO, regions such as Southeast Asia and Africa have highest mortality rates and high demand for asthma preventive medicines as some of the countries in these regions have less access to essential medicines. Lack of manufacturing facilities, technologies, and high dependence on imports are the factors hampering the growth of the preventive asthma drugs market in these regions.

Key players in the global preventive asthma drugs market include Novartis AG, GlaxoSmithKline plc, AstraZeneca plc, Merck & Co., F. Hoffmann-La Roche, Abbott Laboratories, Boehringer Ingelheim, MediciNova, Inc. and Mylan.

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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.

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