Demand Prospects For Asthma Therapeutics Are Likely To Gain Strength, Owing To Increasing Awareness Among Patients

Long-term Asthma Control Medications Accounting for Sizeable Share in Asthma Treatment Market

Long-term asthma control medications are projected to witness a sluggish CAGR of around 2.6% during the forecast period (2020-2027). Despite this, sales performance of these medications would remain significantly high as compared to quick-relief medications, as asthma patients are required to follow a strict medication regime. As a result, quick-relief medications would witness limited adoption at an estimated CAGR of around 1.7% during the forecast period.

Demand prospects for asthma therapeutics are likely to gain strength, owing to increasing awareness among patients regarding this condition. This should have led to linear growth of the asthma treatment market; however, a spurt in the sales of generic drugs, thriving on the back of patent expiration of branded drugs, is projected to limit market potential.

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A recent study has been recently added to the broad report repository of Fact.MR, which portends that, the asthma treatment market would record a steady CAGR of 2.3% during the forecast period (2020-2027).

Growing Popularity of Alternative Therapies to Hinder Lucrative Opportunities for Market Players

Use of antibiotics for the treatment of asthma is debatable, as numerous pieces of literature highlight side-effects regarding their long-term consumption, such as dysphonia, sore throat, increased heart rate, and tremors. This is encouraging patients to adopt alternative therapies as additional panacea to treat asthma.

Though alternative therapies lack designation as the mainstream treatment, Yoga, Unani, and similar therapies are witnessing high adoption in developed countries of North America. However, the trend of replying on alternative therapies is more pronounced in China and India, where these therapies received first recognition. As Asia Pacific is a key destination for medical tourism, the influence of alternative therapies from developing countries is projected to fast-penetrate developed regions, thereby inhibiting significant sales opportunities for market players.

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Asthma Treatment Market – Assessment of Key Segments

Authors of this comprehensive study have classified the asthma treatment market into key segments for an in-depth study of the market. Categorisation of the asthma treatment market is based on treatment type, route of administration, distribution channel, and region. This detailed study also offers information about the incremental opportunity present in the asthma treatment market during the forecast period. Key segments considered while studying the asthma treatment market include:

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North America to Hold Pole Position in Asthma Treatment Market; Asia Pacific Market to Gain Pace

North America would retain its pole position in the asthma treatment market, while the market in Asia Pacific is projected to witness the fastest growth rate. During the forecast period, North America would lose its market share to Asia Pacific, as leading players are gradually scrambling towards developing countries such as China and India to cash in on relatively cost-effective production opportunities. For instance, F.Hoffmann-La Roche Ltd. announced the inauguration of a new manufacturing facility for its pharmaceutical division in Shanghai, China.

Additionally, North America accounts for a high concentration of leading players; ones that generally develop branded drugs. On the contrary, players in the Asia Pacific asthma treatment market relatively hold a low market position, and are involved in the development of generic drugs. As a result, threat of patent expiration affects the North American market more adversely than Asia Pacific. On the back of shifting market trends towards Asia Pacific, the regional asthma treatment market is projected to gain significant pace during the forecast period.

For More Insights- https://www.biospace.com/article/increasing-awareness-about-oral-hygiene-worldwide-is-creating-prospects-for-growth-in-the-oral-irrigator-market-fact-mr/

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