SAN FRANCISCO, July 18, 2016 /PRNewswire/ --
Global asthma therapeutics market is expected to reach USD 25.6 billion by 2024, according to a new study by Grand View Research, Inc. The increasing prevalence of asthma coupled with the adoption of biologics as a long-term treatment option to treat the severe form of asthma is expected to offer this market with lucrative growth opportunities. According to the statistics published by the World Allergy Journal, in May 2014, patients suffering from asthma registered around 300 million and the number is expected to soar due to a large number of individuals inclining towards unhealthy dietary habits and sedentary lifestyles.
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In addition, patent expiration of branded drugs, such as Singulair, Advair and other major drugs during the forecast period has led to a stiff generic competition, which will negatively impact the asthma therapeutics market growth in the coming years. On the contrary, the introduction of biologics is accruing towards the increasing market share of the asthma therapeutics segment, and is anticipated to continue during the forecast period.
The enhanced demand for personalized medicine approach as opposed to the conventional medication prescription pattern for treatment of severe asthma is anticipated to aid the emergence of asthma therapeutics market in the future. In addition, development of technologically advanced products, such as pressurized metered dose inhalers and smart inhalers, equipped with sensor technology and inbuilt wireless communication system is further expected to propel the asthma therapeutics market growth in the next seven years.
Browse full research report with TOC on "Asthma Therapeutics Market Analysis By Drug Class (Anti-inflammatory, Bronchodilators, Combination Therapy), By Device Type (Inhalers, Dry Powder, Metered Dose, Soft Mist, Nebulizers), By Route Of Administration (Oral, Inhaled, Intravenous, Subcutaneous) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/asthma-therapeutics-market
Further key findings from the study suggest:
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Grand View Research has segmented the global asthma therapeutics market on the basis of drug class, product, route of administration, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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