Albany, NY -- (ReleaseWire) -- 05/27/2014 -- According to a new market report published by Transparency Market Research "Asthma and COPD Drug Market - Global Industry Analysis, Market Size, Share, Trends, Growth and Forecasts, 2010 - 2017", the global asthma and COPD market was worth USD 25,102.3 million in 2010, which is expected to reach USD 26,965.5 million in 2017 with a CAGR of 1.03% over the forecasted period (2010 - 2017). Asthma drug segment dominated the overall asthma and COPD market at USD 14,509.1 million in 2010. The COPD segment was estimated to be worth USD 10,593.2 million in 2010, which is expected to reach USD 12,619.8 million in 2017.
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In the next five years, the global asthma and COPD drug market is expected to grow slowly, primarily because of expiry of patents of leading drug brands and price erosion in the market. However, by 2017, few novel drugs are expected to enter the asthma and COPD market, which will drive future growth. The existing asthma and COPD market is mainly driven by increasing patient population. The other factors that will drive the market include long term use of asthma and COPD drugs, increase in disposable income and improved access to medical care facilities in emerging economies.
The asthma market is witnessing intense competition due to the increased entry of inhaled corticosteroids, combinational therapies, and beta-agonists. It is expected that Advair, Symbicort and Singulair would be the leading drugs of the global asthma and COPD market, while Merck, GlaxoSmithKline, and AstraZeneca will continue to be the market leaders till the patents on their drugs expire in the coming years.
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The opportunities in the asthma and COPD market is huge as many companies are focusing on contract manufacturing outsourcing (CMO) and large players have entered this market with new product development. Increase in awareness about the benefits of timely diagnosis for asthma and COPD and availability of healthcare equipment for the detection of asthma and COPD in rural areas will further boost the market and growth opportunities for market players.
In China, growth in urbanization and change in lifestyle has projected sharp increase in occurrence of asthma in the recent years. The occurrence of asthma symptoms is higher in urban areas as compared to rural areas. Air pollution and smoking are the most important factors which have led to the rapid increase in asthma and COPD patients in China.
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