Anti Asthma Drugs Market Increasing Rapidly: Covid-19 Impacts, Industry Opportunity, Analysis and Forecast
With the air pollution rising around the world, the number of asthma patients is also increasing. Therefore the market for the drugs necessary for its treatment is rising. Market Research Future (MRFR) has published a research report that envisions surge in the global anti-asthma drugs market with 5.94% CAGR (Compound Annual Growth Rate) between 2015 and 2022. In terms of cash, the market is expected to rise with the US $ 28.3 bn by the end of the forecast period.
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Observing the market structure, this report evaluates the future growth potential of the market and analyzes the strategies of the key players in the market. It also follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, new product developments (R & D) in the market. According to this report, the key factors that drive this growth of this market include growing awareness of the benefits of modern drug therapy, the great potential of biologics, growth in patients due to increasing pollution, and problems arising from consumerism & unhealthy lifestyles. Constraints that can make the market growth hit a roadblock are the fear among leading drug brands regarding the loss of patents of leading brands, and increasing fragmentation of markets and generic penetration.
The global anti-asthma drugs market has been segmented on the basis of drug class, route of administration, therapy, trigger, type, and lastly, region. On the basis of drug class, this market has been segmented into bronchodilators, corticosteroids, leukotriene antagonists, mast cell stabilizers, monoclonal antibody, and others. Bronchodilators have been further segmented into anticholinergics, beta agonists, and Xanthines.
The regional segmentation of the global anti-asthma drugs market segments the market into regional markets namely The Americas (North America & South America), Europe, Asia Pacific, the Middle East & Africa (MEA). Due to the availability of advanced medical facilities, North America is not only a bigger market than South America, but it is also the biggest market for anti-asthma drugs. In this region, the biggest country-wide market is the United States of America (USA). Many key players in the market are based here.
Europe is the second largest market as it is also equipped with advanced medical facilities. The cream of the market in this region covers, like France, Germany, Italy, Spain, and the United Kingdom (UK) followed by the rest of Europe. The Asia Pacific is witnessing major newer cases due to greater screening and better health care facilities distribution. During the forecast period, this region is expected to emerge as the fastest growing market. The most important markets in this region are China, India, Japan, and South Korea, followed by the rest of Asia Pacific. The MEA region is a small market due to lack of awareness about anti-asthma, lack of education, lack of technological development, poor healthcare, and healthcare not considered a priority by most governments.
The key players in the global anti-asthma drugs market include AstraZeneca PLC (UK), Boehringer Ingelheim (Germany), F. Hoffmann-La Roche Ltd (Switzerland), GlaxoSmithKline PLC (UK), Merck & Co. Inc. (USA), Novartis International AG (Switzerland), Sunovion Pharmaceuticals Inc (USA), and Teva Pharmaceutical Industries (Israel).
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