Asthma Treatment Drugs Market size was valued at USD 25.8 billion in 2021 and is expected to reach over USD 30.1 billion by 2027, poised to grow at a CAGR of 2.6% during the forecast period 2021 and 2027
Market Introduction:
Asthma is a chronic lung disease characterised by variable airflow limitation, bronchial hyperresponsiveness, and airway inflammation. According to research, air pollution has a deleterious impact on asthma outcomes in both adults and children. Secondhand smoking (SHS), road pollution, and nitrogen dioxide are all significant risk factors for the development of asthma in children. Despite this, there is yet to be proof of a relationship between air pollution and adult asthma development. Exposure to pollution can cause asthma symptoms, exacerbations, and a reduction in lung function.
There is a clear link between psychiatric illnesses and the influence they have on asthma. Patients’ asthma is likely to be triggered by the rising prevalence of psychiatric illnesses, especially in those whose condition is severely undertreated. The global market is predicted to develop as a result of this. However, studies have discovered a serious lack of adherence to asthma therapy, particularly in developing nations, as well as a wide range of unmet needs. These obstacles are projected to stifle market expansion. Biologicals for asthma management, on the other hand, are projected to bring up new growth potential.
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Top Key Players:
Teva
Roche & Novartis
Merck
Boehringer Ingelheim
GlaxoSmithKline
Sanofi
AstraZeneca
By Types:
Long-term control medications
Quick-relief medications (rescue medications)
Medications for allergy-induced asthma
By Applications:
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
Regional Insights:
North America dominated the overall asthma therapeutics market in terms of revenue share in 2014 at over 50.0%. The escalated incidence rate of asthma increased awareness levels pertaining to treatment options, and the rising adoption of inhaled therapeutics are some of the major factors attributing the largest revenue share of this region. The European market is set to witness steady growth mainly due to the presence of a considerably developed pharmaceutical industry and the significant demand for asthma-related therapeutics. With the increasing geriatric population, susceptible to acquire respiratory conditions, such as asthma, will further support the growth of the regional market in the U.S. Asia Pacific.
Key Insights:
- Long-term asthma control medications and quick-relief (rescue) medications are the two types of drugs used to treat asthma.
- Rescue inhalers and controller inhalers are used to treat the symptoms of asthma. However, to manage severe asthma cases, longer-acting inhalers are required, which can keep the airways open (formoterol, salmeterol, tiotropium) as well as be used as inhalant steroids.
- Major types of long-term asthma control medications include combination inhalers, inhaled corticosteroids, long-acting beta agonists, leukotriene modifiers, theophylline, and others (reslizumab, benralizumab, etc.).
- The combination inhalers sub-segment dominated the long-term asthma control medications segment in the asthma treatment market in 2018. The growth of this sub-segment can be attributed to the increase in the demand for combination inhalers, and promising drugs in the pipeline of the market.
- The global asthma treatment market covers all drug types for different routes of administration to treat asthma in patients. Several drug companies are focusing on the development of promising drug molecules to improve treatment measures, which are beneficial for patients, by collaborating with research institutes and others companies. These factors are projected to drive the market during the forecast period.
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Report Scope:
Growth rate: CAGR of 5.0 % from 2021 to 2028
Market Size Value in: US$ 24.23 Billion in 2021
Market Size Value by: US$ 34.13 Billion in 2028
Forecast Period: 2021-2028
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