SEATTLE, June 13, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global asthma therapeutics market was valued at US$ 17,582.2 million in 2018, and is projected to exhibit a CAGR of 1.9% during the forecast period (2018-2026).
Key Trends and Analysis of Global Asthma Therapeutics Market:
Increasing launch of new products for asthma treatment is expected to drive growth of the global asthma therapeutics market. For instance, in April 2017, Teva Pharmaceutical Industries Ltd. announced launch of its new AirDuo and RespiClick inhalation powder inhaler for the treatment of asthma in children and older patients. These two inhalers contains fluticasone propionate and salmeterol. These are the fixed-dose combination therapies, which contain inhaled corticosteroid (ICS) and Long-acting B-agonist (LABA).
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In November 2017, U.S. Food and Drug Administration (USFDA) announced approval of Fasenra (benralizumab).It is used for the treatment and management of severe asthma in patient. Fasenra is a new precision biologic, intended to improve the condition of severe asthma patients.
Moreover, increasing number of approvals by U.S. Food and Drug Administration (USFDA) is expected to drive the global asthma therapeutics market growth. For instance, in November 2018, U.S. Food and Drug Administration announced approval of new version over-the-counter (OTC) metered-dose inhaler (Epinephrine inhalation aerosol bronchodilator suspension) for treatment of mild asthma. These inhalers are manufactured by Amphastar Pharmaceuticals.
Among regions, North America asthma therapeutics market is expected to account for the largest market share over the forecast period. This is owing to increasing product launches by key players. For instance, in February 2018, Teva Pharmaceutical Industries Ltd. launched its new QVAR RediHaler (Beclomethasone Dipropionate HFA) Inhalation Aerosol in the U.S. It is used for the treatment and control of asthma. This breath-actuated aerosol contains corticosteroid for the maintenance and treatment of asthma as a prophylactic therapy in patients.
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Key Market Takeaways:
- The global asthma therapeutics market is projected to witness a CAGR of 1.9% during the forecast period (2018 - 2026), owing to increasing prevalence of asthma. For instance, according World Health Organization report 2016 around 235 million people suffer from asthma worldwide, annually.
- Among regions, Europe is expected to hold the second largest share in the global asthma therapeutics market, owing to increasing product approvals in the region. For instance, in May 2019, European Commission (EC) announced approval for Dupilumab (Manufactured by- Regeneron Pharmaceuticals). This drug is used for the maintenance-therapy of severe asthma patient with type 2 inflammation.
- Major players operating in the global asthma therapeutics market include, GlaxoSmithKline Plc., Philips Healthcare, AstraZeneca Plc., Teva Pharmaceutical Industries Ltd., Boehringer Ingelheim GmbH, Sanofi-Aventis SA, CareFusion Corporation, Sunovion Pharmaceuticals, Inc. Merck & Co., Inc., and Roche Diagnostics.
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