DUBLIN, Ireland, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Asthma Drugs Market Size, Share, Growth Analysis Report By Mode Of Administration (Injections, Inhalers, Tablets & Capsules, Sprays & Powders, and Liquids), By Medication (Long-Term Control Medications, and Quick Relief Medications), By Application (Adults, Pediatric, and Adolescent), By Source (Generic, and Environmental), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.
The report analyses the Asthma Drugs market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Asthma Drugs market.
Asthma Drugs Market Overview:
Asthma is caused by the inflammation of the lung's airway. It is a long-term disease which means that there is no cure for the condition for now and the medications can only help in controlling the associated symptoms. The main characteristics of the disease include frequent and easily triggered bronchospasm and irreversible obstruction of the airflow. The signs may include shortness of breath, coughing, wheezing, and chest tightness. The intensity of asthma attacks varies from one patient to another. In some cases, the attack may be more frequent than in others. Depending on the person, the attack could occur during the night time or daytime.
Although in some cases, the attacks are mild, patients have also had serious attacks leading to a high fatality rate. By avoiding triggers like respiratory irritants, and allergens, the associated symptoms of asthma can be avoided. They can also be suppressed with the use of corticosteroids. In cases that are more severe, the treatment method includes the use of beta-2 agonists, a class of drugs such as salbutamol, which are taken orally. In cases that are borderline fatal, hospitalization may be required along with treatment using magnesium sulfate.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- Includes Tables and figures have been updated
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- Facts and Factors research methodology
Key Insights from Primary Research
- As per the analysis, the Asthma Drugs market is likely to grow above a CAGR of around 5.21% between 2022 and 2028.
- The Asthma Drugs market size was worth around US$ 21.7 Billion in 2021 and is estimated to hit approximately US$ 34.3 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to the growing cases of asthmatic patients
- Based on mode of administration segmentation, inhalers were predicted to show maximum market share in the year 2021
- Based on application segmentation, pediatric was the leading application in 2021
- On the basis of region, North America was the leading revenue generator in 2021.
Industry Growth Drivers
- Growing number of asthma patients to drive market growth
The global asthma drugs market is projected to grow owing to the increasing technical and research-related growth across the globe. Asthma has long existed without any cure and pharmaceutical companies have increased spending on conducting exhaustive research activities to develop a final cure for the disease and also aid technical growth until a cure is found. For instance, in 2021. Cipla, a leading name in the pharmaceutical market, announced the scaling up of its activities to make asthma drugs, inhalers, and diagnostic tools more accessible. The company aims to become a top-ranking name in the list of lung specialists. In 2014, the company spent over INR 600 crore on research & development (R&D) activities.
The technical growth in the field has recorded tremendous response as businesses and service providers try to limit the side effects of discomfort associated with the use of inhalers. For example, in 2017, the United States Food & Drugs Administration (FDA) authority approved the use of two inhalers developed by Teva Pharmaceuticals. The products are called AirDuoTM RespiClick® and ArmonAirTM RespiClick®. The newly approved products not only helped the company grow its product portfolio but have assisted asthmatic patients to control their symptoms extensively.
Restraints
- Health concerns associated with the drugs to restrict market expansion
The global market could face growth restrictions due to the high cost associated with the development of drugs and accessories as well as the lengthy approval process before the product is made available for purchase in the live market. It limits the number of players in undeveloped economies as they have to rely on external funds for research purposes. Other concerns like the approval of using cannabis as a bronchodilator are yet to be explored and there are strict laws surrounding the use of medical marijuana.
The growing research & development may provide growth opportunities while the discomfort after using inhalers may act as a major challenge.
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Competitive Players
The report contains qualitative and quantitative research on the global asthma drugs market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Asthma Drugs market include;
- Roche
- GlaxoSmithKline
- Teva pharmaceutical
- VecturaGroup
- AstraZeneca
- Pfizer
Browse the full “Asthma Drugs Market Size, Share, Growth Analysis Report By Mode Of Administration (Injections, Inhalers, Tablets & Capsules, Sprays & Powders, and Liquids), By Medication (Long-Term Control Medications, and Quick Relief Medications), By Application (Adults, Pediatric, and Adolescent), By Source (Generic, and Environmental), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” Report at https://www.fnfresearch.com/asthma-drugs-market
Asthma Drugs Market: Segmentation Analysis
The global asthma drugs market is segmented based on the mode of administration, medication, application, source, and region
Based on medication, the global market divisions are long-term control medications and quick relief medication. The global market is projected to be dominated by long-term control medications due to the higher demand for drugs. Quick relief medications may also register significant growth because they are helpful in providing fast relief in case of a narrowed and tight airway. In terms of long-term control medications, they are generally given in combination with other medicines. For instance, Trelegy, a prescribed prescription inhaler, consists of umeclidinium, vilanterol, and fluticasone. With this inhaler, only 1 inhalation in 24 hours is allowed
Based on the source, the global market segments are generic and environmental. The global market registered the highest growth in the generic source segment due to high product adoption. Environmental medicine, even though allowed in certain regions, is not currently very reliable as more research is needed to understand the true impact and effect on the treatment of asthma symptoms. Around 3% of India’s population currently suffers from asthmatic conditions.
Regional Analysis:
North America is projected to witness the highest revenue during the forecast period due to the high prevalence of the disease amongst the regional population as well as a growing number of pharmaceutical players adopting strategic approaches to expand their product portfolio and hold over the global market. Growth in Europe may be dominated by the presence of some of the largest and most dominating pharmaceutical players.
For instance, GlaxoSmithKline, a multinational biotechnology and pharmaceutical company, is located in the United Kingdom. The annual revenue of the company in 2021 stood at USD 47 billion which was an increase of over 7% from its revenue in 2020. Asia-Pacific is anticipated to lead with a high CAGR due to the growing demand for long-term control medications.
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Recent Industry Developments:
- In July 2020, Novartis received the necessary approval from the European Commission Enerzair® Breezhaler which can be used with other asthma treatments in Europe
- In March 2022, the U.S. Food and Drug Administration approved Symbicort to treat chronic obstructive pulmonary disease and asthma symptoms
Key questions answered in this report:
- What is the market size and growth rate forecast for Asthma Drugs industry?
- What are the main driving factors propelling the Asthma Drugs Market forward?
- What are the leading companies in the Asthma Drugs Industry?
- What segments does the Asthma Drugs Market cover?
- How can I receive a free copy of the Asthma Drugs Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 21.7 Billion |
| Projected Market Size in 2030 | USD 34.3 Billion |
| CAGR Growth Rate | 5.21% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Roche, GlaxoSmithKline, Teva Pharmaceutical, Vectura Group, AstraZeneca, Pfizer., and others. |
| Key Segment | By Mode Of Administration, Medication, Application, Source, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global asthma drugs market is segmented as follows:
By Mode Of Administration
- Injections
- Inhalers
- Tablets & Capsules
- Sprays & Powders
- Liquids
By Medication
- Long-Term Control Medications
- Quick Relief Medications
By Application
- Adults
- Pediatric
- Adolescent
By Source
- Generic
- Environmental
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Mode of Administration, Medication, Application, Source, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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