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Asthma Market Booming with Innovation in drugs, Developing Healthcare Infrastructure

What is an Asthma:

Asthma is a lung disease; i.e. a chronic condition that causes inflammation and narrowing of the bronchial tube (the passageways that permit air to pass in and leave the lungs). Some of the symptoms of asthma include shortness of breath, coughing, wheezing and chest tightness. 

Asthma Research Report
Asthma Research Report

The factors that propel the Asthma Market size include innovation in drugs, rising occurrences of asthma cases, mounting geriatric population, rising number of smokers, growth in the disposable income, developing healthcare infrastructure and facilities, and intensifying pollution level.

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On the other hand, there are also factors that hinder the global Asthma Market size such as the patent expiry of drugs, high expenditure on treatment, and growth in use of generic drugs. The global Asthma Market size spans type, device type, drug type, route of administration, and geography. On the basis of type, the global Asthma Market size constitutes allergic asthma and non-allergic asthma. The allergic asthma is basically caused due to exposure to allergens like pollens from weeds, trees, etc., dust, and so on. On the other hand, the non-allergic asthma is basically caused due to exercise, stress, cold, flu, etc.

On the basis of device type, the global Asthma Market size constitutes inhalers and nebulizers. The “inhalers” segment is further sub-categorized as dry powder, soft mist inhalers (SMIs), metered dose inhalers (MDIs). Nebulizers are devices that carry the drug in a fluid form that is dispensed by the compressed air. The “nebulizers” segment is further sub-categorized as mesh nebulizers, compressor nebulizers, and ultrasonic nebulizers. In 2015, the metered dose inhalers (MDIs) accounted for the largest share of the global Asthma Market owing to the ease of availability, consistency, portability, flexibility, and cost-effectiveness.

The features like portability, noteworthy benefits in the home healthcare applications, and ideal design that enables dispense medication directly to the respiratory track are estimated to offer prospective growth opportunities for its high utility.  On the basis of drug type, the global Asthma Market size spans anti-inflammatory, immunosuppressant, bronchodilators, mast cell stabilizers, leukotriene antagonists, and combination of ICS/LABA. In this segmentation, the combination drug type consisting of inhaled corticosteroids with long-acting beta agonists dominated the global Asthma Market in 2015. The factors that attribute to the large share of combination drug type are rise in application rates due to twofold action of combination therapy and its high efficacy rate.

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On the basis of route of administration, the global Asthma Market size spans inhaled, oral, intravenous, and subcutaneous. The inhaled route of administration accounted for the largest market share of the Asthma Market in 2015.  On the basis of geography, the global Asthma Market size constitutes North America, Europe, Asia Pacific, and Rest of the World. North America holds the largest share of the global Asthma Market due to rising number of asthma patients, increase in geriatric population, drug innovation, high-tech advancement, and developed healthcare infrastructure. The North American market is tracked by Europe. During the forecast period, the Asia Pacific’s market is projected to witness a high growth rate owing to factors such as rise in population, increasing number of asthma patients, emerging healthcare infrastructure and facilities, environmental pollution, growing disposable income, and enlarging number of smokers.

What are the top companies?

Some of the prominent players that fuel the growth of the Asthma Market include AstraZeneca Plc, Philips Healthcare, 3M Health Care, Allied Healthcare Products Inc., Sunovion Pharmaceuticals Inc., GlaxoSmithKline Plc, Novartis AG, Merck & Co., Inc., GF Healthcare Products, Smith Medicals, Lincare Holdings Inc., and Baxter International.