The global asthma therapeutics market accounted for USD 20.7 billion as of 2015 and is anticipated to exhibit a sluggish growth rate of 2.2% over the forecast period, according to Grand View Research. This is attributed to the generic erosion faced by leading brands, such as Advair and Symbicort.
On the other hand, increasing incidences of respiratory diseases coupled with the demand for cost-effective treatment options is expected to drive the asthma therapeutics market growth during the forecast period from 2016 to 2024. According to the estimates published by the Global Initiative for Asthma (GINA), in the year 2013, around 300 million patients globally were reported to be afflicted with this disease and the number is expected to grow in the coming years.
This is one of the crucial reasons for increasing adoption of asthma therapeutics worldwide. Furthermore, factors, such as the rising indoor and outdoor causative agents including pollution, allergens, and dust, among others, coupled with the changing lifestyles that influence the incidences of asthma are additionally fueling the demand for asthma therapeutics over the forecast period.
However, a decline in the asthma therapeutics market growth is anticipated during the forecast period due to patent expiration of leading brands, such as Advair and Symbicort, in January and November 2018, respectively. In addition, the delayed commercialization and marketing of asthma generic alternatives in the market is expected to further cause a slump in the market.
The market for asthma therapeutics is expected to experience steady growth primarily due to the branded drugs approaching their impending patent expiration dates and the intensive generic competition in the developing nations. For instance, the patent for Singulair (montelukast) by Merck & Co., Inc. expired in 2012 that resulted in the fall of 90% of the sales in a period of 4 weeks.
Furthermore, the patent expiry of seven more anti-inflammatory drugs during the forecast period is expected to impact the asthma therapeutics market growth. However, introduction of monoclonal antibodies holds a huge potential in offsetting the high asthma prevalence and reducing the daunting disease burden; these new technologies emerging in the market are expected to further augment the growth in the next seven years.
Gervano research analysts predict the Asthma market is expected to increase during the forecast period. The uptake of novel targeted biologics and different effective combinations of ICS, LABA, LAMA therapies are the decisive reasons for increasing acceptance of asthma therapeutics worldwide.
Drug delivery devices innovations have further supplemented the growth and helped improve the patient compliance. Global Asthma therapeutic market unmet need is highlighted by the fact that more than half of asthma patients have poor control over diseases notably affecting their quality of life.
