Asthma and COPD Drugs Market to Receive Overwhelming Hike in Revenues by 2024
Asthma and COPD Drugs Market – U.S. and China Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024
The asthma and COPD drugs market in US and China is expected to show a consolidated competitive landscape. In 2015, the leading players within the US and China asthma and COPD drugs Market accounted for 64% of the total Market, according to a recent research report by transparency market research TMR. The names of the leading players within the US and China asthma and COPD drugs market are: Merck & Co. Inc., Astrazeneca plc, Novartis AG, GlaxoSmithKline plc, and Boehringer Ingelheim.
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According to the TMR report, the US and China asthma and COPD drugs market will be worth US$18.7 bn by 2024. On the basis of different types or classes of drugs come on the market is segmented into anti-inflammatory drugs, combination drugs, bronchodilators, and monoclonal antibodies. Among these, it is the combination drug segment which is witnessing highest growth. The segment accounted for 54% of the total US market in 2015. The combination drug segment is expected to continue to lead throughout the focus period on account of positive recommendations from organizations such as Global initiative for asthma and Global Initiative for chronic obstructive lung disease, which state that blends the dates are more secure course of treating asthma and COPD.
US Accounted for 81% of Market in 2016
On the basis of geography, among the US and China, it is the US which is dominating in the asthma and COPD drugs Market on account of High awareness level among the people regarding the availability of drugs and treatment options. Regular product launches and continues Investments by leading players in the research and development sector will also help the market to grow in the US. In 2016, the US accounted for a whopping 81% of the total market.
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Growing Air Pollution Behind Growth in China Asthma and COPD Drugs Market
China on the other hand accounts for the relatively small share in the asthma and COPD drugs Market, but is expected to present liquid growth opportunities for Market players in the coming years. China is expected to exhibit at 10% in the asthma COPD drugs Market. The factors associated with the increasing number of asthma patients, Rising air pollution, and vast unmet medical needs of the patient population. The increasing number of smokers is also an important factor contributed to the growth of the market in China.
Rising Number of Deaths due to COPD and Asthma Behind High Demand for Treatment
According to the lead author of this report, asthma and COPD are two disorders which are affecting a large number of population today and is behind the growth of the US and China asthma and COPD drugs market. These two disorders are increasingly becoming a factor for increased number of deaths and therefore effective treatment is highly in demand. The FDA endorsements for novel treatment options is expected to contribute to the growth of the US and China asthma and COPD drugs market. So the other factors helping the market to grow is the growing geriatric population, lifestyle changes, increasing number of smokers, increase in pollution, and rising industrialization.
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The data and information presented in this review are based on a TMR report titled as “Asthma and COPD Drugs Market (Drug Class – Bronchodilators, Anti-inflammatory Drugs, Monoclonal Antibodies, and Combination Drugs; Indication – Asthma and COPD) – U.S. and China Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”
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