Increasing prevalence of respiratory diseases owing to the growing aging population and increasing pathogens in the environment has been the key factor driving the asthma and chronic obstructive pulmonary disease (COPD) market globally. Asthma & COPD are chronic respiratory diseases that are either genetically acquired or caused due to several environmental factors. These diseases are supposed to be non-curable, but may be controlled to a great extent with proper on-time diagnosis. The global market for Asthma & COPD has been analyzed on the basis of drugs and devices used for these diseases. Key drugs employed for control and diagnosis of asthma and COPD may be classified on the basis of their types which include bronchodilators, leukotriene antagonists, mast cell stabilizers and immunosuppressants.
Growing aging population coupled with increasing automotive and industrial exhaust gases have remained the key drivers for the global asthma and COPD market. Degrading air quality near the industrial areas has led to the increased incidence of asthma especially in the low-income population in the emerging economies of China, India, Brazil and Russia. Increasing disposable income levels in emerging economies as well as developing countries of Latin America, Middle East & Africa has led to the increased usage of asthma pumps and sprays in these regions. However, the unknown etiology of asthma and COPD in medical industry may hamper the market growth in the next six years.
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Additionally, pharmaceutical companies have been developing new bio-based medications in combination with bio-technology which promises immense growth opportunities along with sustainable development for asthma & COPD market over the next decade.
Currently, North America leads the global market for asthma & COPD drugs and devices. North America was followed by Europe in terms of market capitalization. However, North America and Europe is expected to lose out some of the market share to other emerging regional markets owing to the expiry of several patens of pharmaceutical companies operating in these regions. Asia Pacific is expected to be the fastest regional market for asthma and COPD owing to the increased incidence of asthma & other respiratory diseases in industrial regions.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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