Asthma Treatment Market Set To Record Exponential Growth By 2031-End

Retail pharmacies will drive the highest sales of asthma therapeutics with an estimated value of around US$ 17 Bn by 2027, as rapid expansion of retail pharmacies makes asthma therapeutics more accessible to patients. According to a recent Fact.MR study, hospital pharmacies with large drug inventories would also remain a crucial distribution channel in the asthma treatment market. As patients find it convenient to purchase drugs immediately after diagnosis, hospital pharmacies are likely to catalyse sales of asthma therapeutics during the forecast period (2020-2027). The study finds that, hospital pharmacies hold the potential to drive sales tantamount to US$ 10 Bn by 2027, in the asthma treatment market.

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Key Highlights of Asthma Treatment Market Study

• Sales of long-term asthma control medications would remain 59% higher as compared to quick-relief medications by 2027, as rescue medications have limited application scope (only used during asthma attacks), while long-term medications possess high efficacy to control asthma attacks.
• Loss of patent exclusivity of branded drugs could affect the position of leading players in the asthma treatment market, as generic drugs gain ground. For instance, patents of Symbicort Turbuhaler and Qvar manufactured by AstraZeneca and GlaxoSmithKline PLC respectively, are to expire in the very near future. High availability of generic drugs to treat mild to severe asthma is projected to adversely affect revenue potential of the asthma treatment market during the forecast period.
• Sales of inhalers are projected to cross US$ 14 Bn by 2027, and oral route of administration is likely to grow as the second-most attractive section in the asthma treatment market.
• Relaxed FDI policies in India and China are projected to shift focus of leading players towards Asia Pacific to achieve reduced overhead costs and meet growing demand for asthma therapeutics in these countries. According to the Lung India Journal, India accounts for one in every 10 asthma patients. On the back of increasing demand for asthma therapeutics and improving supply chain, the Asia Pacific asthma treatment market is projected to witness growth in the market.

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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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:

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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.

For More Insights- https://www.biospace.com/article/increasing-awareness-about-oral-hygiene-worldwide-is-creating-prospects-for-growth-in-the-oral-irrigator-market-fact-mr/

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