Published Date : 23 May 2023
The global asthma treatment market is anticipated to be worth USD 26.7 billion in 2022 and is expected to rise to USD 35.1 billion by 2032, poised to grow at a strong CAGR of 2.77 percent during the forecast period 2023 To 2032.
Asthma is managed with rescue inhalers to treat symptoms and controller inhalers that prevent symptoms. Some asthma cases demand longer-acting inhalers that keep the airways open and inhalant steroids. In asthma, the airways get narrowed and swelled and may produce extra mucus. Asthma makes breathing difficult and triggers coughing. It can interfere with daily activities and may result in life-threatening asthma attacks. It can't be cured, but its symptoms can be controlled. The signs and symptoms of asthma are breath shortness, chest tightness or pain, wheezing when exhaling, trouble sleeping due to shortness of breath, wheezing, etc. Some asthma attacks can be life-threatening.
Asthma treatment involves a diagnosis in which the doctor will perform a physical exam to rule out other possible conditions, like chronic obstructive pulmonary disease (COPD). The keys to stopping asthma attacks are prevention and long-term control. Its treatment involves learning to recognize your triggers, avoiding them, and tracking breathing to ensure asthma medications control symptoms. Some medications are used to control, prevent, and treat asthma, such as fluticasone propionate, budesonide, ciclesonide, beclomethasone (Qvar Redihaler), mometasone, and fluticasone furoate.
Some oral medications, such as montelukast, zafirlukast, and zileuton, help relieve asthma symptoms. Other medications are fluticasone-salmeterol, fluticasone furoate-vilanterol, formoterol-mometasone, Theophylline, albuterol, levalbuterol, bronchodilators, ipratropium, prednisone, methylprednisolone, etc. In today's medical scenario, respiratory health holds the utmost importance. Asthma is one of the main causes of death and disability across the globe.
A report was published in 2017 by the World Health Organization (WHO) on "The Global Impact of Respiratory Disease," which stated that an estimated 334 million individuals have asthma. As per the Centers for Disease Control and Prevention (CDC), during the coronavirus pandemic, people who have moderate to severe asthma were at a greater risk of suffering from acute respiratory disease.
The global asthma treatment market is majorly driven by the increasing prevalence of asthma and rising levels of pollution. In line with this, the growing occurrence of psychological disorders and biologics for asthma management significantly contributes to market growth. Air pollution has an adverse impact on asthma outcomes in both adults and kids. The surging prevalence of respiratory diseases such as chronic obstructive pulmonary disease, chronic bronchitis, emphysema, lung cancer, asthma, and pleural effusion positively influences the market growth.
The escalating demand for asthma treatment drugs and the new product launches catalyze market growth. The growing need for advanced therapeutics and increasing demand for asthma drugs propel market growth. The escalating awareness of advanced and efficient asthma therapeutics and the presence of leading market players favors market growth. The increasing prevalence of COPD and advancement in respiratory disease therapy strengthen market growth.
The expanding rates of respiratory illnesses and spreading awareness about asthma treatment bolster market growth. The increasing popularity of meter portion inhalers and dry powder inhalers and the high efficacy of long-acting muscarinic adversary inhaled corticosteroid creates a positive outlook for the market. The increased demand for cost-effective treatment options catalyzes market growth. As per the report by the Global Initiative for Asthma (GINA), around 300 million patients were affected by asthma in 2013.
The rapid adoption of asthma therapeutics worldwide and surging indoor and outdoor causative agents, including pollution, allergens, and dust, propels the market growth. The changing lifestyles that influence the prevalence of asthma stimulate market growth. The rising adoption of inhaled therapeutics and significant growth in the pharmaceutical industry creates a positive outlook for the market. The increasing geriatric population, susceptible to asthma, boosts market growth. The rising pipeline products, along with initiatives by the government, fuel market growth.
The shifting focus on research and development activities and rapid technological advancements foster market growth. The strategic developments by the major players offer lucrative opportunities for market growth. As cancer cases increased, the Covid 19 pandemic positively impacted the asthma treatment market. People with coronavirus faced severe breathing problems, raising the demand for asthma treatment.
The leading players are focusing on acquisitions and mergers to enhance their position in the global market. Asthma treatment includes bronchodilators, anti-inflammatory drugs, corticosteroids, long-acting beta-agonists (LABA), methylxanthine, immunomodulators, and leukotriene modifiers. The improvements in diagnostic technologies and the widespread availability of effective asthma therapeutics drive market growth. The development of combination therapies for the treatment of asthma, rising healthcare expenditures, improvements in the healthcare infrastructure, and extensive research and development activities boost the market growth.
Asthma Treatment Market Report Scope:
|Market Revenue in 2023||USD 27.5 Billion|
|Projected Forecast Revenue in 2032||USD 35.1 Billion|
|Growth Rate from 2023 to 2032||CAGR of 2.77%|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa|
Based on the region, North America dominated the market and accounted for the largest revenue share due to the increasing prevalence of asthma and rising pollution levels. The improved healthcare infrastructure, inflating disposable incomes of individuals, and increasing healthcare expenditure catalyze market growth across the region. Asthma causes airflow restriction in the lungs and makes breathing difficult. The growing prevalence of respiratory diseases, like chronic obstructive pulmonary disease, lung cancer, chronic bronchitis, and emphysema, positively influences market growth.
The surging demand for effective asthma treatment and drugs propels the market growth. The greater awareness of advanced and efficient asthma treatment and increasing awareness about new and emerging therapeutic options propel market growth. The presence of major biopharmaceutical companies and new product offerings offers numerous opportunities for market growth. Europe is the second-largest market, as asthma is widely prevalent among children in the region.
The rapid adoption of advanced therapeutics in the region catalyzes market growth. The market in Asia-Pacific is expected to witness a promising CAGR in the coming years due to the increasing prevalence of chronic respiratory diseases and the widespread availability of efficient generic asthma therapeutics.
Market Driver: Increasing prevalence of asthma
The increasing prevalence of chronic respiratory conditions such as asthma significantly contributes to market growth. In line with this, the rising demand for advanced therapeutics for asthma treatment and the growing demand for asthma drugs positively influence market growth. The surging geriatric population across the globe catalyzes market growth. The escalating requirement for a better quality of life for patients undergoing asthma treatment boosts market growth. The introduction of low-cost and effective asthma therapeutics favors market growth. The demand for better clinical and therapeutics for asthma increased during the 2019-2020 coronavirus pandemic. The high demand for advanced asthma treatment drugs strengthens market growth.
Market Opportunity: Increasing R&D for advanced asthma therapeutics
The increasing research and development activities for advanced asthma therapeutics offer numerous market growth opportunities. The robust R&D being undertaken by market players across the globe catalyze market growth. The development of advanced therapeutics for asthma and the rising number of prominent pharmaceutical companies propel the market growth. The presence of several strong pipeline products for asthma treatment favor market growth. The positive clinical developments fuel market growth. The high demand for various treatment drugs for asthma boosts market growth. The increasing approvals of several asthma drugs and new product launches offer numerous opportunities for market growth. The high demand for efficient therapeutics for asthma treatment catalyzes market growth.
Market Restraint: High cost of asthma medications
The high cost of asthma medications restricts asthma treatment market growth. Despite the increasing prevalence of asthma worldwide, there are certain restraining factors that hamper the adoption of these therapeutics. One of the main factors restricting market growth is the high cost of asthma inhalers. For instance, the price of Advair increased from US$ 316 in 2013 to US$ 496 in 2018.
Market Challenge: Underdiagnosis of asthma
The Underdiagnosis of asthma challenges asthma treatment market growth. It leads to poorer clinical outcomes for people unable to get asthma pharmaceuticals to treat their condition. Furthermore, the lack of adherence to asthma treatment in underdeveloped countries limits market growth. All these factors hamper asthma treatment market growth.
Major Key Players:
By Route of Administration
By Adjunct Therapy
By Distribution Channel
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