The U.S. asthma drugs market size was valued at USD 8.36 billion in 2023 and is expected to hit around USD 13.76 billion by 2033, poised to grow at a CAGR of 5.11% from 2024 to 2033.
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Asthma is a chronic respiratory condition characterized by inflammation and narrowing of the airways, leading to symptoms such as wheezing, shortness of breath, coughing, and chest tightness. It is a common condition, and its severity can vary from person to person. Management of asthma often involves the use of various medications, including bronchodilators and anti-inflammatory drugs.
The U.S. asthma drugs market is composed of key players, regulatory authorities, marketing agencies, and entities involved in the research and development of asthma treatments. According to the American College of Allergy, Asthma, and Immunology, asthma affects 7.7% of Americans, approximately 24.9 million of them comprise 4.6 million children and 20.2 million adults. More than 900,000 ER visits and 94,000 hospital inpatient stays were recorded by asthma patients. An estimated $50 billion is spent on asthma-related expenses each year. Nearly one-third of the more than 3,500 individuals who die from asthma each year are 65 years of age or older. The rising prevalence combined with growing costs of treatment is a major aspect of the U.S. asthma drug market.
|Growth Rate from 2024 to 2033
|CAGR of 5.11%
|U.S. Market Size in 2023
|USD 8.36 Billion
|U.S. Market Size by 2033
|USD 13.76 Billion
|2024 to 2033
|By Medication, By Mode of Administration, By Source, By Organization Type, and By Application
Driver: Growing prevalence of asthma and government initiatives
The U.S. prevalence of asthma has been on the rise, contributing to a growing patient population. This increase in the number of asthma cases is a significant driver of the demand for asthma drugs. According to an AAFA article from September 2022, there are over 25 million asthmatics in the United States. Additionally, about 15 million persons in the U.S. suffer from COPD, according to an NIH paper from March 2022. Besides, the rising initiatives by the government also propelled the market expansion in the country.
Restraint: High cost
One major issue affecting the U.S. asthma drugs market is the high cost of its services and products. Many patients, particularly those with inadequate insurance coverage or those belonging to low-income communities, may find the expense of drugs, including inhalers and oral medications, to be an overwhelming burden. Subpar asthma management may result from access to essential drugs and preventative measures being restricted due to the high cost of therapy.
The research and manufacturing process of drugs is one of the factors contributing to the high cost of asthma therapy. The total cost is increased by clinical trials, regulatory approvals, and research and development. The high cost is also influenced by the ongoing need for innovation and the release of newer, more potent treatments. Thus, hampering the market growth.
Opportunity: Growing FDA approvals
The discovery of novel drugs is critical for pharmaceutical research and development and patient treatment. Repurposing existing drugs that may have anticipated effects as a potential candidate is one way to meet this vital goal. The subsequent increasing FDA approvals of these new as well as repurposed drugs is expected to offer a lucrative opportunity for the asthma drugs market growth over the forecast period.
the quick relief medications segment held the largest share in 2023. Quick-relief medications, also known as rescue medications, are a crucial component of asthma management. They provide rapid relief from acute asthma symptoms by bronchodilating and easing airway constriction. Common quick-relief medications include short-acting beta-agonists (SABAs).
Advances in inhaler technologies, such as the development of smart inhalers, aim to enhance patient adherence and monitor medication usage. Smart inhalers may have the potential to impact the market by improving the management and tracking of quick-relief medication use. Thereby driving the segment growth.
The inhalers segment dominated the U.S. asthma drugs market in 2023. The segment is observed to sustain the position throughout the forecast period. The segment expansion is attributed to the increasing advancements in inhaler technology, including smart inhalers. The integration of digital technology into inhalers, known as smart inhalers, has been a growing trend. These devices may include sensors to track medication usage, provide reminders, and offer insights into asthma management.
The public segment dominated the U.S. asthma drugs market in 2023. Public organizations often launch health education campaigns to raise awareness about asthma, its symptoms, triggers, and the importance of proper management. These campaigns may influence public perception and encourage individuals to seek appropriate medical care, potentially impacting the demand for asthma drugs.
The U.S. asthma drugs market is segmented into pediatric, adults, and adolescent. The adults segment dominated the market in 2023 and the segment is observed to sustain the dominance in the market during the forecast period. According to the American College of Allergy, Asthma, and Immunology, the prevalence of asthma is greater in adults (8.0%) than in children (6.5%). Such disparity promotes greater efforts for the treatment of asthma in the demographic, greatly driving the growth of the adult segment in the U.S. asthma drugs market.
The pediatric segment is expected to grow at the highest growth during the forecast period. Asthma is one of the most common chronic conditions in children. The prevalence of pediatric asthma has been increasing in the U.S. The high incidence of asthma in children contributes to the demand for asthma medications specifically designed for pediatric use.
Segments Covered in the Report
By Mode of Administration
By Organization Type
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