Asthma Treatment Market Revenue to Attain USD 35.06 Billion by 2033

16 Oct 2024

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Table of Content

1. Asthma Treatment Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Asthma Treatment Market 4. Asthma Treatment Market Trends 5. Regional Insights 6. Asthma Treatment Market Coverage 7. Market News

Asthma Treatment Market Revenue and Trends

The global asthma treatment market revenue surpassed USD 28.28 billion in 2024 and is predicted to attain around USD 35.06 billion by 2033 with a CAGR of 2.42% during the forecast period. The market is experiencing significant growth due to advancements in respiratory therapies, the increasing prevalence of asthma, and growing awareness about the condition. With the rising number of patients with asthma, there is a high demand for effective management and prevention.

Market Overview

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 performs a physical exam to rule out other possible conditions, like chronic obstructive pulmonary disease (COPD). Treatment involves recognizing triggers, avoiding them, and tracking breathing to ensure asthma medications control symptoms. Some medications, such as fluticasone propionate, budesonide, ciclesonide, beclomethasone (Qvar Redihaler), mometasone, and fluticasone furoate, are used to control, prevent, and treat asthma.

• A report published by the World Health Organization (WHO) on "The Global Impact of Respiratory Disease " estimated that an estimated 334 million individuals have asthma. According to the Centers for Disease Control and Prevention (CDC), during the coronavirus pandemic, people with moderate to severe asthma were at a greater risk of acute respiratory disease.

Report Highlights of the Asthma Treatment Market

• Based on medication, the long-term control medication segment dominated the market with the largest share in 2023 due to the increasing prevalence of asthma, rising geriatric population, growing popularity of long-acting inhalers, and high healthcare expenditure. Quick-relief inhalers treat acute asthma symptoms, such as wheezing, chest tightness, shortness of breath, and coughing.
• On the basis of route of administration, the inhaler segment dominated the asthma treatment market in 2023, capturing the largest share. This is due to their effectiveness in delivering asthma medication directly into lungs. On the other hand, the prefilled syringes/vials segment is expected to register a notable CAGR in the coming years due to their increased safety and widespread availability.
• Based on adjunct therapy, the LABA (long-acting beta antagonists) segment accounted for the largest revenue share in 2023, as it is used as an add-on medication for symptom prevention. It is a bronchodilator and not used to treat acute asthma. It is used in combination with inhaled steroids.
• In terms of distribution channel, the retail pharmacies and drug stores segment led the market in 2023. This is mainly due to the easy availability of prescription as well as over-the-counter drugs in these pharmacies.

Asthma Treatment Market Trends

• 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 and the introduction of low-cost and effective asthma therapeutics boost 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.
• Increasing R&D for advanced asthma therapeutics: The increasing research and development activities for developing advanced asthma therapeutics offer numerous opportunities in the asthma treatment market. The robust R&D being undertaken by market players across the globe catalyzes market growth. The development of advanced therapeutics for asthma and the rising number of prominent pharmaceutical companies propels the market growth. In addition, 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.
• Rising awareness about asthma treatments: The expanding rates of respiratory illnesses and the rising 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 corticosteroids create a positive outlook for the market. The presence of several strong pipeline products for asthma treatment favors market growth.

Regional Insights

North America dominated the asthma treatment market in 2023 due to the increasing prevalence of asthma and rising pollution levels. The improved healthcare infrastructure, rising 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, contributed to regional market expansion. In addition, the greater awareness of advanced and efficient asthma treatment and increasing awareness about new and emerging therapeutic options bolstered the market in the region. 

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. On the other hand, Asia Pacific is expected to witness a significant growth in the market in the coming years due to the increasing prevalence of chronic respiratory diseases and the widespread availability of efficient generic asthma therapeutics.

Asthma Treatment Market Coverage

Market News

• In January 2024, GSK plc and Aiolos Bio, Inc. announced that they have entered into an agreement under which GSK will acquire Aiolos, a clinical-stage biopharmaceutical company focused on addressing the needs of patients with certain respiratory and inflammatory conditions. AIO-001 has the potential to expand GSK’s respiratory biologics portfolio to reach a broader portion of asthma patients.
• In June 2024, Chinese scientists have developed a cell therapy that could offer long-term asthma relief with a single shot, improving treatment and patient outcomes.
• In January 2023, A new drug combination was launched by Lupin (multinational pharmaceutical company) to manage and treat asthma among patients. The company launched the product under the brand name DIFIZMA in India comprising a fixed triple dose combination of Indacaterol, Glycopyrronium and Mometasone.

Market Segmentation

By Medication

• Quick-relief medication
• Long-term control medication

By Route of Administration

• Inhalers
• Prefilled syringes/vials
• Others

By Adjunct Therapy

• LAMA (long-acting muscarinic antagonists)
• LABA (long-acting beta antagonists)
• Others

By Distribution Channel

• Online pharmacies
• Hospital pharmacies
• Retail pharmacies & drug stores

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa

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