Updated on 10 March 2016
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The company's latest report states that the primary driver of this considerable rise is the prevalence of asthma across the APAC countries, which include China, India, Australia, South Korea, and Japan.
The condition is burgeoning due to aging populations and increases in air pollution, dust and pollen levels, which both cause and exacerbate asthma in children.
Aswini Nath, Analyst for GBI Research, says: "As well as the increasing incidence of the disease, six costly biologics are set to enter the APAC asthma market, which will push its value up considerably. These consist of GlaxoSmithKline's mepolizumab, Teva's reslizumab, Chugai/Roche's lebrikizumab, Sanofi/Regeneron's dupilumab, and AstraZeneca's tralokinumab and benralizumab.
"The most advanced of these drugs is mepolizumab, which is currently at the Pre-registration stage in Japan, while the other five monoclonal antibodies (mAbs) are in Phase III development in the APAC region. As the cost of these treatments is likely to be high in comparison with more established drugs, strong uptake could well increase the cost of treatment for asthma patients."
In terms of disease prevalence trends within the five APAC countries, India has the highest number of asthma sufferers.