Long-term Asthma Control Medications Accounting for Sizeable Share in Asthma Treatment Market
Long-term asthma control medications are projected to witness a sluggish CAGR of around 2.6% during the forecast period (2020-2027). Despite this, sales performance of these medications would remain significantly high as compared to quick-relief medications, as asthma patients are required to follow a strict medication regime. As a result, quick-relief medications would witness limited adoption at an estimated CAGR of around 1.7% during the forecast period.
Demand prospects for asthma therapeutics are likely to gain strength, owing to increasing awareness among patients regarding this condition. This should have led to linear growth of the asthma treatment market; however, a spurt in the sales of generic drugs, thriving on the back of patent expiration of branded drugs, is projected to limit market potential.
A recent study has been recently added to the broad report repository of Fact.MR, which portends that, the asthma treatment market would record a steady CAGR of 2.3% during the forecast period (2020-2027).
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Growing Popularity of Alternative Therapies to Hinder Lucrative Opportunities for Market Players
Use of antibiotics for the treatment of asthma is debatable, as numerous pieces of literature highlight side-effects regarding their long-term consumption, such as dysphonia, sore throat, increased heart rate, and tremors. This is encouraging patients to adopt alternative therapies as additional panacea to treat asthma.
Though alternative therapies lack designation as the mainstream treatment, Yoga, Unani, and similar therapies are witnessing high adoption in developed countries of North America. However, the trend of replying on alternative therapies is more pronounced in China and India, where these therapies received first recognition. As Asia Pacific is a key destination for medical tourism, the influence of alternative therapies from developing countries is projected to fast-penetrate developed regions, thereby inhibiting significant sales opportunities for market players.
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North America to Hold Pole Position in Asthma Treatment Market; Asia Pacific Market to Gain Pace
North America would retain its pole position in the asthma treatment market, while the market in Asia Pacific is projected to witness the fastest growth rate. During the forecast period, North America would lose its market share to Asia Pacific, as leading players are gradually scrambling towards developing countries such as China and India to cash in on relatively cost-effective production opportunities. For instance, F.Hoffmann-La Roche Ltd. announced the inauguration of a new manufacturing facility for its pharmaceutical division in Shanghai, China.
Additionally, North America accounts for a high concentration of leading players; ones that generally develop branded drugs. On the contrary, players in the Asia Pacific asthma treatment market relatively hold a low market position, and are involved in the development of generic drugs. As a result, threat of patent expiration affects the North American market more adversely than Asia Pacific. On the back of shifting market trends towards Asia Pacific, the regional asthma treatment market is projected to gain significant pace during the forecast period.
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Asthma Treatment Market – Assessment of Key Segments
Authors of this comprehensive study have classified the asthma treatment market into key segments for an in-depth study of the market. Categorisation of the asthma treatment market is based on treatment type, route of administration, distribution channel, and region. This detailed study also offers information about the incremental opportunity present in the asthma treatment market during the forecast period. Key segments considered while studying the asthma treatment market include:
|Route of Administration||
Asthma Treatment Market – Scope of the Study
The study on the asthma treatment market is an exclusive study, which has been recently added to the broad report repository of Fact.MR. The study brings to light crucial influencers that have been influencing the growth of the asthma treatment market. This comprehensive study offers analytical insights pertaining to the recent developments in the asthma treatment market, through the analysis of historical data for the period of 2017-2019, while the duration 2020-2027 is considered as the forecast period.
Recalibration of revenue of the asthma treatment market has been carried out in terms of value (US$ Mn). This research report offers exclusive insights into the influential trends that hold high potential to shape the asthma treatment market during the forecast period. Besides this, the report also includes numerous macroeconomic and microeconomic growth indicators that support the growth of the asthma treatment market during the forecast period. This detailed guide offers crucial information into the key dynamics, along with their influence on the asthma treatment market during the forecast period.
The detailed report, in turn, brings to the fore, insightful information about key challenges and threats that could limit the growth potential of players in the asthma treatment market. The study unveils profitable opportunities for manufacturers, which they can adopt to strengthen their position in the global asthma treatment market. With a view of aiding stakeholders in the asthma treatment market, the study comprises a detailed section on the competition analysis.
This exclusive study offers a dashboard view of the asthma treatment market, with detailed information about market players, based on overall revenue, key developments, and their market presence. Additionally, key strategies of players in the asthma treatment market have also been included in this comprehensive study.
Revenue of the asthma treatment market has been estimated in terms of US$ Mn for the period of 2020 to 2027. In addition to this, compound annual growth rate (CAGR %) has been estimated for all segments during the forecast period 2020-2027, considering 2019 as the base year, in the asthma treatment market.
Analysts of the research report have studied the profiles of key companies operating in the asthma treatment market to get a thorough idea of the competitive landscape. Leading, prominent, and emerging players profiled in this exclusive study include Mylan N.V., Teva Pharmaceutical Industries, AstraZeneca PLC., Sunovion Pharmaceutical, Inc., Boehringer Ingelheim, Sanofi, F.Hoffmann-La Roche Ltd., Novartis International AG, GlaxoSmithKline PLC, and Merck & Co., Inc.
Asthma Treatment Market – Research Methodology
The primary objective of this exclusive study on the asthma treatment market is to offer precise estimates and forecasts of the market in terms of value (US$ Mn) for the period of 2020-2027. The secondary objective includes analysis of key market segments exhibiting significant growth rates, leading strategies adopted by players in the asthma treatment market, and recalibrate the adoption rate of asthma treatment in key regions across the world. Top-down and bottom-up approaches have also been adopted by research analysts in order to validate data and statistics to offer accurate market information to stakeholders.
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