LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global asthma therapeutics market to generate a revenue surpassing USD 22 billion in 2020, according to their latest report.
The research study covers the present scenario and growth prospects of the global asthma therapeutics market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of brand-name, generic, and off-label drugs used for the prevention and treatment of asthma.
April is Allergic Rhinitis Awareness Month in the US and the Asthma and Allergy Foundation of America has declared May as the National Asthma and Allergy Awareness Month.
Technavio healthcare and life sciences analysts highlight the following three factors that are contributing to the growth of the global asthma therapeutics market:
- Huge market potential for mAbs
- New product approvals minimizing the impact of generic erosion
- Increasing rate of allergies due to environmental pollution
Huge market potential for mAbs
mAbs will have a high uptake for the treatment of asthma, owing to the development of target specific drugs. mAbs blocking IgE are specifically approved for the treatment of allergic asthma.
“Asthmatic patients with phenotypes of severe refractory asthma will benefit from these mAbs. mAbs against immunoglobulin or specific cytokines, which are known to be important in the initiation or persistence of asthmatic inflammation are being developed. Xolair was the first mAb approved for the treatment of allergic asthma. Recently, two other mAbs have been approved,” says Barath Palada, a lead analyst at Technavio for research on infectious and rare diseases.
mAbs approved for treatment of asthma
| Brand name | Generic name | Company | Approval date | |||
| Cinqair | Reslizumab IV | Teva Pharmaceuticals | March 2016 | |||
| Nucala | Mepolizumab | GSK | November 2015 | |||
| Xolair | Omalizumab | Genentech | June 2003 |
Source: Technavio
Since its approval in 2003, Xolair has recorded huge sales for the treatment of asthma. Similarly, other mAbs will also record a huge growth in the asthma therapeutics market. Apart from these, many other manufacturers are also engaged in the development of other mAbs, which are now in the various stages of development for the treatment of asthma. Of these, benralizumab and tralokinumab by AstraZeneca will receive approval during the forecast period and will have a high market potential.
New product approvals minimizing the impact of generic erosion
The patent expiries of the drugs will dip the growth of the market. The patent of Singulair (Merck) expired in 2012 in the US, leading to the entry of the generic version of the API (active pharmaceutical ingredient) montelukast. This will significantly erode the market share and the revenues of Merck. The patent expiries of Advair (fluticasone propionate) by GlaxoSmithKline in 2010 have eased the generic access to the market. However, it has been observed that the sales of Advair have not declined as anticipated attributable to the complex formula of the combination drug, fluticasone propionate and salmeterol.
The patent of the delivery device Advair Diskus will expire in August 2016. Thus, the unavailability of suitable drug-delivery devices also prevents the genericization of drugs in the market.
“The market entry of newly approved drugs will help in the growth of the asthma therapeutics market and will minimize the effects of patent expiry of the drugs,” affirms Barath.
Increasing rate of allergies due to environmental pollution
Globalization and urbanization lead to increasing environmental pollution. Pollutants such as ground-level ozone, carbon dioxide, smog, fumes from vehicles, and particulates such as dust, soot, and pollen grains are known to trigger diseases like COPD, asthma, bronchitis, and other respiratory issues. Airborne particles, sulfur dioxide, and nitrogen oxide are critical environment pollutants that worsen respiratory symptoms. House dust mite (HDM) is a major source of indoor allergens and a key factor in the development of allergic disease including allergic asthma and allergic rhinitis. Among the inhalant allergens, HDM is the more prevalent allergy, and global prevalence estimates suggest that HDM allergy affects around 10% of the global population.
Environmental pollution attributes to the development of asthma in both children and adults. In China, the presence of Chinese haze, a terminology that describes China's air quality problem, is considered as a primary risk factor for the increased prevalence of respiratory diseases. Research indicate that haze, which is defined as the presence of very fine particles at high concentrations in air, affects the lung function in children and adults.
Browse Related Reports:
- Global Allergy Immunotherapies Market 2016-2020
- Global Autoimmune Disease Diagnostics Market 2016-2020
- Global COPD and Asthma Devices Market Industry - Analysis 2015-2019
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