Asthma Treatment Drugs Receive Fillip during COVID-19, Future Expansion Banking on Rising Generic Drug Candidates Popularity: Fact.MR
Generic drug candidates are being preferred over branded ones to deepen market penetration across key regions.
Fact.MR, Dublin: The global asthma treatment market is likely to embark on a positive growth trajectory, attributed to burgeoning investment volumes in developing long-term and quick-relief medications, according to award winning market research company Fact.MR. Additionally, extensive research and development to foster advanced care is likely to anchor the market forward.
The COVID-19 pandemic has also served to fuel expansion prospects, as highly vulnerable patients require constant medicinal doses to prevent any further complications of the respiratory tract. This has generated in a spurt in fast-track regulatory approvals of various drug candidates in recent months. For instance, Indian pharmaceutical giant Lupin filed and acquired US FDA approval for its albuterol aerosol in April 2020, promising to yield nearly US$ 3 billion in revenue.
Likewise, Cipla completed its Stage III trial for its Advair generic drug candidate, receiving the abbreviated new drug application (ANDA) approval by August 2020. Such new drug candidate developments have greatly helped enhance growth prospects in the previous years, with projected estimated to remain strong for the current as well as the next ten years.
“As new therapeutic approaches continue to be investigated, drug developers and key pharmaceutical ingredients manufacturers are experimenting with a plethora of drug formulations and combinations, attracting heightened investments,” remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Asthma Treatment Market Report
- Long-term asthma control medicine to account for nearly three out of five sales
- Inhaler based asthma treatment to remain most preferred, attributed to ease of medicine delivery
- Sales across retail pharmacies to remain high, online pharmacies acquiring high traction
- U.S to hold considerable share attributed to heightened presence of branded asthma drug manufacturers
- U.K to experience high annual growth, owing to at least one out of five deaths due to asthma since the past half-a-decade
- High research potential for developing advanced cures is likely to pivot German and French market growths
- Japan and South Korea to witness high growth amid the rising prevalence of geriatric population
Asthma Treatment Market- Prominent Drivers
- High prevalence of respiratory disorders to provide wide berth for enhanced asthma treatment drug sales
- Market interspersed with numerous product launches, majority of them new drug candidates
- Opportunities appear significantly high across emerging economies, attributed to a wide population base
Asthma Treatment Market- Key Restraints
- Preference for alternative treatments such as yoga and unani in the wake of growing concerns over antibiotics usage may hinder expansion
Discover more about the global asthma treatment market with 155 figures and 49 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/5434/medical-suction-devices-market
The global asthma treatment market is highly consolidated, with a handful of manufacturers influencing the bulk of the overall revenue share. As per Fact.MR’s analysis, some leading players operating in the landscape include Teva Pharmaceutical Industries, Novartis International AG, Mylan N.V, GlaxoSmithKline Plc., Merck & Co. Inc., AstraZeneca PLC, Sanofi, Sunovion Pharmaceutical Inc., F-Hoffman La-Roche Ltd. and Boehringer Ingelheim.
A combination of expansion strategies, including expansion of R&D capabilities, clinical trials to launch new products and acquisitions are relied upon by the aforementioned players. Recently, in December 2020, AstraZeneca and Amgen announced the conclusion of their Phase III trial for Tezepelumab, a potential first in-class medicine which inhibits asthma inflammation, being touted as an effective remedy against the disease.
Companies are also leveraging digital breakthroughs to offer high grade solutions to potential clients. For instance, Novartis AG has been actively pursuing research to integrated digital platforms to administer high quality asthma care to patients worldwide. To that end, the company received EU approval for its Enerzair and Breezhaler applications which could help contain uncontrolled asthma in July 2020.
More Insights on Fact.MR’s Asthma Treatment Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global asthma treatment market. The study divulges compelling insights on the asthma treatment market on the basis of treatment type (long-term asthma control medications and quick-relief (rescue) medications), route of administration (inhaled, oral, intravenous, and subcutaneous), and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), across five major regions.
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