Asthma Treatment Market To Witness Stellar CAGR During Forecast Period 2022 – 2031 : FactMR
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Asthma Treatment market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Asthma Treatment
The report offers actionable and valuable market insights of Asthma Treatment. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Asthma Treatment Market across various industries and regions.
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This newly published and insightful report sheds light on Market Insights of Asthma Treatment, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Asthma Treatment Market.
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.
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.
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High Reliance of Leading Players on Organic Growth Strategy
Leading players in the consolidated asthma treatment market, accounting for 60% of the total share, rely on organic growth strategy to develop an extensive product portfolios. These players aim to develop novel therapies and drugs through high investments in R&D activities. For instance, in 2018, AstraZeneca and its partner Amgen Inc., announced that the Food and Drug Administration (FDA) had granted Breakthrough Therapy designation to Tezepelumab, which is used for the treatment of severe asthma. Continuous introduction of new therapeutics strengthens their portfolios, and well-established brand identity of leading players further increases their sales prospects.
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:
|Treatment Type||Long-term Asthma Control MedicationsCombination InhalersInhaled CorticosteroidsLong-acting Beta AgonistsLeukotriene ModifiersTheophyllineOthers (reslizumab, benralizumab, etc.)Quick-relief (Rescue) MedicationsShort-acting Beta AgonistsIpratropium (Atrovent)Oral & Intravenous Corticosteroids|
|Route of Administration||InhaledOralIntravenousSubcutaneous|
|Distribution||ChannelHospital PharmaciesRetail PharmaciesOnline Pharmacies|
|Region||North AmericaEuropeAsia PacificLatin AmericaMiddle East & Africa|
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Key Question answered in the survey of Asthma Treatment market report:
- Sales and Demand of Asthma Treatment
- Growth of Asthma Treatment Market
- Market Analysis of Asthma Treatment
- Market Insights of Asthma Treatment
- Key Drivers Impacting the Asthma Treatment market
- Which are the Key drivers impacted by Asthma Treatment market
- Restraints Shaping Market Growth
- Market Survey of Asthma Treatment
More Valuable Insights on Asthma Treatment Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Asthma Treatment, Sales and Demand of Asthma Treatment, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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