Ireland Asthma Treatment Market to be dominated by Generic Drugs Segment through 2028
Rising
prevalence of chronic diseases, such as asthma is expected to drive the demand
for the Ireland asthma treatment market in the forecast period, 2024-2028.
According to TechSci Research report, “Ireland
Asthma Treatment Market - By Region, Competition,
Forecast and Opportunities, 2028”, the Ireland asthma treatment market is expected to grow at an
impressive rate during the forecast period due to the rising incidence of
asthma cases, increasing level of air pollution, and government initiatives and
policies.
Additionally, technological
advancements in the field of asthma management, such as improved inhaler
devices, portable spirometers for monitoring lung function, and digital health
solutions, can boost the asthma treatment market in Ireland. These advancements
can enhance patient compliance, self-management, and disease monitoring,
leading to better treatment outcomes. Moreover, collaborations and partnerships
between healthcare providers, pharmaceutical companies, and research
institutions can foster the development of innovative asthma treatments and
promote their availability in the market. These collaborations can lead to the
introduction of new therapies, clinical trials, and advancements in
personalized medicine approaches, benefiting patients in Ireland.
However, one of the most
restraining factors of the Ireland asthma treatment market is high cost of
asthma medications coupled with underdiagnosis of asthma, which is often
considered as the primary treatment for asthma. For instance, the prices of
Advair, a critical asthma drug has risen in terms of its cost approximately
shown an increment as 56%. Additionally, underdiagnosis of asthma leads to poor
clinical outcomes for the patient who are unable to adopt the appropriate asthma pharmaceuticals
as a treatment for their medical condition.
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The Ireland asthma treatment
market is segmented is segmented by treatment, route of administration,
distribution channel, regional distribution, and competitional landscape.
Based on treatment, the
market is further bifurcated into long term medications, quick relief
medications. The long-term medications segment has dominated the market in 2022. This is ascribed due
to development of different products and its commercialization into the market.
These drug’s categories are Advair, Qvar, and Symbicort.
Based on route of
administration, the market is bifurcated into injectable, oral, and inhaled. The inhaled segment has dominated the market in
2022. This is ascribed due to significant number of products for treatment of
asthma are administered in this form. The injectable segment is expected to
grow in the forecast period because several immunomodulators is expected to
grow in the forecast period and these drugs are injected subcutaneously.
Based on distribution
channel, the market is bifurcated into hospital pharmacies, retail pharmacies
& drug stores, and online pharmacies. The hospital Pharmacies segment
dominated the market in 2022 because the therapeutics used in asthma treatment
is prescribed in hospitals with trained medical professionals. This enables the
proper and appropriate medications for the effective asthma treatment.
Major companies operating in
Ireland asthma treatment market include:
- AstraZeneca
Pharmaceuticals Ireland
- Fresenius
Kabi Ireland
- GlaxoSmithKline
Ireland
- Teva
Pharmaceuticals Ireland Limited
- Novartis
Ireland Limited
- Sanofi
Aventis Ireland Ltd.
- Hoffmann-La
Roche Ireland Limited
- Regeneron
Ireland
- Merck
& Co. Ireland Limited
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“Ireland
asthma treatment market is expected to witness significant growth during the
forecast period on account of increasing geriatric population. An increase in
number of asthma attack, lifestyle diseases and rising healthcare expenditure
is expected to grow the Ireland asthma treatment market. Additionally, the technological
advancements and rising public awareness regarding high medications cost, are
expected to hamper the growth of Ireland asthma treatment market in the next
few years” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Ireland Asthma
Treatment Market, By Treatment (Long Term Medications, Quick Relief Medications), By Route
of Administration (Injectable, Oral, Inhaled), By Distribution Channel
(Hospital Pharmacies, Retail Pharmacies & Drug Stores, Online Pharmacies), By
Region, Competition, Forecast and Opportunities, 2028”,
has evaluated the future growth potential of Ireland asthma treatment market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Ireland asthma treatment market.
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