The report estimated that it will be driven largely by the expanding share of targeted biologics
The asthma treatment market value with a Compound Annual Growth Rate (CAGR) of 3.8 percent will grow to $23.1 billion by 2023, across eight major countries (the US, UK, France, Germany, Spain, Italy, Japan, and Australia), according to research and consulting firm, GlobalData. As of 2013, the market was worth $15.9 billion.
The report estimated that it will be driven largely by the expanding share of targeted biologics in the treatment of severe asthma.
Ms Valentina Gburcik, senior analyst, GlobalData, said, "While the market share of fixed-dose combinations of inhaled corticosteroids and long-acting beta-agonists (ICS/LABAs) will shrink from almost half to 23 percent, targeted biologics will enter the market and start dominating the asthma space, accounting for 32 percent of total sales in 2023 from just 8.7 percent in 2013."
"Despite the development of these biologics, a significant growth opportunity will persist for new patented products, especially lower-priced drugs with more convenient dosing, which will improve patient compliance," she added.