The research report identifies the key driving factors of the asthma therapeutics market as the rising environmental pollution that adversely affects the respiratory system of the human body, causing asthma and other respiratory diseases. Rapidly growing industrialization and globalization have led to an imbalance in the environmental constitution.
Albany, NY -- (SBWIRE) -- 09/03/2015 -- Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled " Asthma Therapeutics Market to 2020 – Personalized Treatment for Severe Asthma to Drive Market Growth despite Patent Expirations." The report, by GBI Research, forecasts that the market for asthma therapeutics will demonstrate marginal CAGR of 2.4% between 2013 and 2020. The forecast, which pertains to the top eight developed nations, estimates that the market will expand from its 2013 value of US$18.4 billion to US$21.7 billion by the end of 2020.
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Meager as the growth may look, it is important to note that the asthma therapeutics market is on the verge of witnessing widespread generic erosion. Patent expirations are expected to eat into the revenues of blockbuster drugs such as Advair (fluticasone propionate/salmeterol xinafoate), Xolair (omalizumab), and Symbicort (budesonide/formoterol fumarate). This sea change in the global asthma therapeutics market will be brought about by the entry of new players as well as the growing pervasiveness of asthma itself.
The report notes that there is unparalleled industry interest in monoclonal antibodies and biologics, with the former enjoying more attention within the indication. Clinical trials have shown encouraging results for new monoclonal antibodies; some of these include: Lebrikizumab, mepolizumab, dupilumab target Interleukins (IL), and reslizumab. These molecules are seen to be beneficial in inadequately controlled or severe eosinophilic asthma. These drugs, which will constitute a sizeable chunk of the personalized asthma therapeutics market, will target a small section of asthma patients, but will carry steep price tags and still drive market growth. This, market experts predict, will ostensibly offset the detrimental effects of generic erosion.
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Healthcare systems worldwide are already heaving the burden of growing incidences of asthma, show figures from the World Health Organization. The disease—which affected an estimated 300 million people worldwide in 2007—is projected to spread to 400 million people by 2025. While the better part of asthma patients are able to bring their symptoms under control using products currently available on the market, there is still a considerable chunk of asthma victims that cannot do so. This unmet need in the global asthma therapeutics market has kindled the interest of pharmaceutical companies and other industry players.
This has proven highly beneficial to the current asthma pipeline, with several promising molecules reported to be on the anvil. A number of these molecules are in the later stages of development and are expected to hit the asthma therapeutics market as early as 2015-16.
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