LONDON, December 3, 2015 /PRNewswire/ --
Modest growth rate due to a relatively stable prevalence rate of Chronic Obstructive Pulmonary Disease (COPD) during the forecast period, says GBI Research.
Analysis from business intelligence provider GBI Research - COPD Therapeutics in Major Developed Markets in 2021 - states that the global treatment market for COPD will rise at a steady Compound Annual Growth Rate (CAGR) of 2.9%, from $9.2 billion in 2014 to $11.2 billion in 2021.
The COPD therapeutics market landscape over the forecast period will be characterized by the sales erosion of leading brands. For a complimentary sample of this research, please visit the GBI Research website.
Senior Analyst Yasser Mushtaq: "Currently, the market is dominated by three brands, namely Pfizer's Spiriva, GlaxoSmithKline's (GSK's) Advair and AstraZeneca's Symbicort, which have all generated multi-billion dollar revenues to date.
"The patents for these leading brands have either expired or will do very soon, leaving the market open to generic competition, which will impact negatively on these brands' sales figures."
GBI Research's report also notes that despite the patent expirations for key therapies, the market will see the approval of multiple high-profile products from 2015. However, the majority of these will represent addition-in-class products, which will likely only offer incremental improvements over existing ones.
GSK, AstraZeneca and Chiesi Farmaceutici are all developing such products, which include fixed-dose combination treatments, including three triple combinations. There are however, first-in-class products also in development, the most notable of which, GSK's mepolizumab, is expected to launch in 2017 and will generate sales of approximately $1.7 billion by 2021.
Mushtaq continues: "The combined effect of a large number of product approvals and generic alternatives entering the COPD treatment market will increase competition and potentially drive down prices.
"The market, which used to be dominated by only a few brands, will become more fragmented and will see the introduction of various brands with similar characteristics.
"Currently, none of the available therapies have been shown to modify long-term disease progression, leaving a strong need for a disease-modifying therapy that targets the natural history of the disease. This presents an attractive opportunity for major pharma players."
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SOURCE GBI Research