The global asthma drugs market revenue surpassed USD 22.79 billion in 2022 and is projected to attain around USD 34.28 billion by 2030, growing at a CAGR of 5.20% from 2022 to 2030.
Asthma is a long-term inflammatory disease of the lungs and airways with symptoms like coughing fits, shortness of breath, wheezing, and tightness of the chest area. Depending on the person and asthma severity, symptoms may worsen at midnight and after excessive exercise. The root cause of asthma is relatively unknown to the medical system. Still, asthma can be caused by environmental and genetic factors with more exposure to hazardous chemical releases in gaseous form into the air, resulting in pollutant air. Other potential threats and triggers to asthma attacks are beta blockers and aspirin medications.
Asthma drugs are broadly classified as fast-acting and long-acting. Bronchodilators are generally used to reduce symptoms for short periods. Bronchodilators include substances that decrease resistance in the respiratory airways. Also, avoiding asthma triggers is vital in improving control over it.
WHO reported that asthma is a major noncommunicable disease affecting both adults and children and has announced improvements in asthma treatments and diagnosis by monitoring and reducing the global burden of NCDs. The market players of asthma drugs are also playing a significant role by launching drugs to treat asthma. For instance, Valeo Pharma Incorporated launched drugs Entertain and Atectura Breezhaler to aid in reducing the exacerbation of asthma. Due to the worldwide prevalence of asthma, the market is expected to grow exponentially in the forecast period.
North America is the dominant region in the global asthma drug market. The increasing rate of asthma patients per year further fuels the asthma drugs market. As per the reports on respiratory health conditions in the US, the geriatric population is more susceptible to respiratory diseases, including asthma. This further aids in the growth of the market by increasing demand for asthma drugs.
The United States has approximately 16.8% of the geriatric population prone to asthma. According to the data, current estimates of the frequency of asthma patients are highest in the US and Puerto Rico from the Caribbean. By region, asthma mortality rates are highest in Mexico. In the United States, nearly 17.6% of asthma incidents in children are likely to be linked to nitrogen pollutant exposure.
Europe is considered the second-largest asthma drug market. Asthma is found to be the most common respiratory disease in the children of this region. Nearly 9.4% of children are diagnosed with noncommunicable diseases, most likely asthma, in European countries, and 10 million people are diagnosed with asthma at the age of less than 45. Around 8.2% of adults suffer from respiratory diseases. European research and innovation partnership EARIP, supported by the European Union, will unite Europe with a common asthma research agenda for the next decade in order to create interconnectivity to fight against asthma. It will lead to further market growth in European countries.
Asia Pacific has a relatively lower asthma prevalence rate than Western regions. Asthma causes considerable morbidity in the here, with nearly 15% of teenagers dealing with related co-morbid conditions. Furthermore, the mortality rate due to asthma was found to be higher in foreign areas like Japan, Hongkong which, in turn, increases demand for asthma treatment drugs and fuels market growth in Asia Pacific. For instance, the use of any preventive medications like inhaled corticosteroids (ICSs), leukotriene modifiers and nedocromil was reported by 14.4% of patients. Among these, ICSs are the most demanded and reliably used by medical faculty to treat asthma patients. The increasing presence of key products in the region led to further market growth in the upcoming years 2023-2027.
Asthma prevalence in the UAE is nearly 13.6% in children and 9.8% of the total UAE population, as per the recently published data. As respiratory diseases rapidly spread worldwide, the asthma market in the UAE is expected to grow slightly more than in past years.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 23.93 Billion |
| Projected Forecast Revenue by 2030 | USD 34.28 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 5.20% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2022 to 2030 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Drivers
Requirement for better treatment and therapeutics for asthma after COVID-19
Asthma and COVID-19 symptoms are similar as they attack the respiratory system. After the COVID-19 pandemic, worldwide demand for asthma drugs has increased.it is the critical driving factor of the market after the recent pandemic. As COVID has worsened the symptoms of asthma patients, they need better treatment to resolve this respiratory illness. This is because asthma is considered the most fatal long-term chronic illness in several patients in the world.
Frequent product launches by market key players
AstraZeneca and GlaxoSmithKline are leading players in the asthma drug market. Advanced treatment for asthma has seen a spur after the COVID-19 impact, resulting in the number of products launched by major companies that attract consumers to manage asthma symptoms on a large scale, leading to global market growth. Launches of advanced asthma cure products have a considerable impact on the market. For instance, Benralizumab was launched by AstraZeneca to treat severe asthma patients, and it's approved in India to be used on patients to cure severe asthma disease. Airspura is again one of the most demanding products launched in the market as an asthma medication, which the FDA of the US approves. It's the first medication which is comprised of albuterol and corticosteroid together. Such medications result from relentless research and development efforts, further driving a market at its highest pace.
Restraint
High cost of recently launched asthma drugs
Most effective and popular medicines like Deriphyllin by Zydus Cadila and Theo-asthalin by Cipla have vanished from retail chemists because these drugs are based on theophylline, which is under price control and thus less profitable. On the contrary, companies have started launching products that are based on doxophylline, and thus, the price is outside of control. Making asthma patients pay much higher prices for drugs that used to be easily available with lesser prices and efficacy. Also, theophylline-based asthma drugs are more effective despite their side effects than recently launched pharma products based on doxophylline, which is less likely to work efficiently. Pharma companies evade every possible rule to gain profit, and such an approach may lead to hamper market growth.
Opportunity
Biologics drug to reduce asthma symptoms
Biologics, a type of drug derived from living cells, have shown immense potential in the treatment of asthma. They are specifically designed to target the processes that cause inflammation and trigger asthma symptoms. For patients who continue to suffer despite regular asthma medications, biologics can work efficiently to reduce the exacerbation of asthma. They have been proven to improve even severe asthma in patients, enhancing their quality of life. Moreover, biologics have demonstrated fewer side effects, further attesting to their effectiveness.
Market Segmentation
By Medication
By Mode of Administration
By Source
By Organization Type
By Application
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