Market players in the asthma treatment market are focusing on research & development activities for the development of advanced therapeutics to develop an extensive product portfolio.
ROCKVILLE, MD / ACCESSWIRE / November 25, 2020 / The global asthma treatment market is projected to expand at a steady CAGR of 2.3% over the assessment period of 2020-2027. The hospital pharmacies with huge drug inventories are likely to remain a vital distribution channel in the global market, as it becomes convenient for patients to buy drugs straightaway after diagnosis.
"Growing usage of online shopping channels providing same-day / next-day delivery attributes and striking deals will boost sales via online pharmacies. The inclination towards ordering medications via online pharmacies will gain more prominence towards 2027 end." says the Fact.MR report.
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Asthma Treatment Market- Key Takeaways
- The global asthma treatment market to reach a market valuation of US$ 10 Bn by 2027 end.
- North America is projected to remain dominant in the market capturing the highest market share over the forecast period.
- Long-term asthma control medications to gain traction in the global market as compared to quick-relief medications.
- Inhaled route of administration segment has foreseen a significant uptick in the global market.
- Sales through online pharmacies are expected to skyrocket in the approaching years.
Asthma Treatment Market - Driving Factors
- Growing awareness regarding the asthmatic condition and its timely diagnosis is enhancing the demand prospects of the market.
- Hospital pharmacies are anticipated to catalyze sales of asthma treatment over the forecast period.
- Rising demand for better health facilities and innovation in biological drugs are projected to propel the market growth.
Asthma Treatment Market - Constraints
- High prices associated with asthma inhalers along with easy availability of generic drugs can limit the adoption of the asthma treatment market.
- Rising popularity of alternative treatments can challenge the market growth.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 pandemic has brought the world to a halt. Several businesses have been impacted by the crisis across industries. However, the asthma treatment market is anticipated to be positively impacted by the initial hiccup amid the crisis. The growing threat of death in asthma patients during the crisis is anticipated to fuel the need for pre-diagnosis, which, consecutively, will assist the market growth.
Explore the global Asthma Treatment market with 102 figures, 39 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4422/asthma-treatment-market
Competition Landscape
Key market players in the asthma treatment market are Teva Pharmaceutical Industries, Mylan N.V., AstraZeneca PLC., Boehringer Ingelheim, Sunovion Pharmaceutical, Inc., Sanofi, Novartis International AG, F.Hoffmann-La Roche Ltd., Merck & Co., Inc. and GlaxoSmithKline PLC. Incessant presentation of new therapeutics is fortifying portfolios of the key players as well as a well-established brand identity of prominent players further boost their sales forecasts.
More on the Report
The Fact.MR's market research report provides in-depth insights into the asthma treatment market. The market is scrutinized based on 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 (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: FactMR