U.S. and China Asthma and COPD Drugs Market: Snapshot
The U.S. and China market for asthma and
chronic obstructive pulmonary disease (COPD) drugs is expected to
exhibit growth at a steady pace in the next few years. Factors such as a
significant rise prevalence of COPD and asthma in these two countries,
advancements in diagnostic methods, and rising awareness among patients
regarding the available treatment methods are considered key to the
overall growth of the market over the period 2016–2024.
The market is expected to exhibit growth
at a moderate pace in the first few years of the forecast period,
chiefly owing to the patent expiries of leading drugs and the subsequent
price erosion. However, the market is expected to witness new drug
candidates by 2020, which will help the market tread along a better
growth path in the forthcoming years.
Transparency Market Research estimates
that the market will exhibit a 4.1% CAGR from 2016 through 2024, rising
to a valuation of US$18.7 bn by 2024 from US$13.0 bn in 2015.
Combination Drugs Sales to Constitute Bulk of Revenue
On the basis of drug classes in the U.S.
and China asthma and COPD drugs market, the report examines the future
scope of growth for varieties such as bronchodilators, anti-inflammatory
drugs, monoclonal antibodies, and combination drugs.
Of these, the segment of combination
drugs is presently the leading segment. It accounted for a 54% of the
U.S. and China asthma and COPD drugs market in 2015 and is expected to
continue to dominate throughout the report’s forecast period.
Combination drugs benefit from the recommendations from agencies such as
Global Initiative for Chronic Obstructive Lung Disease (GOLD) and
Global Initiative for Asthma (GINA), which regard combination drugs as
the safer course of managing asthma and COPD.
The segment of monoclonal antibodies is
expected to emerge as a prominent drug class for the management of
asthma and COPD in the next few years. Emergence of new drug candidates
in this segment will bolster its growth potential in the market during
the report’s forecast period.
us china asthma copd drugs market
us china asthma copd drugs market
High Costs of Asthma and COPD Drugs and Consumer Awareness make U.S. the Clear Leader
In the U.S. and China market for asthma
and COPD drugs, the U.S. market clearly dominates, accounting for a more
than 81% of the overall market in 2016. The key factors to have
benefitted the U.S. market, despite it being a relatively smaller market
in terms of population, include the high costs of asthma and COPD drugs
and a high level of attentiveness paid by consumers to healthcare and
wellness. The U.S. market also contributes significantly to the overall
asthma and COPD drugs market through regular product launches and high
investments by leading companies for R&D in the areas of combination
therapies and biologics.
Although China presently accounts for a
relatively smaller share in the U.S. and China asthma and COPD drugs
market, the country is expected to present attractive growth
opportunities in the next few years. The China market for asthma and
COPD drugs will exhibit an impressive 10% CAGR over the period between
2016 and 2024. The key factors attributable to this projection are the
rising number of asthma patients, owing chiefly to rising levels of air
pollution, and a vast array of unmet medical needs.
The rising prevalence of COPD in the
country is chiefly owing to the high and rising number of smokers. The
China market for asthma and COPD drugs also comes across as a more
attractive market than the U.S. market owing to a low level of
competition and high rate of growth.
Some of the leading vendors presently
operating in the U.S. and China asthma and COPD drugs market profiled in
the report are Boehringer Ingelheim, GlaxoSmithKline plc, Merck and
Co., Inc., Novartis AG, AstraZeneca plc, and F. Hoffmann-La Roche.
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