Pune, India, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The global asthma treatment market is projected to grow from USD 18.08 billion in 2019 to USD 26.01 billion by 2027, exhibiting a CAGR of 4.5% during the forecast period. This information is presented by Fortune Business Insights, in its report titled, “Asthma Treatment Market Forecast, 2020-2027.” The growing incidence of respiratory diseases such of chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, lung cancer, asthma, and pleural effusion will spur demand for asthma treatment.
Key Development:
September 2019: The U.S. FDA announced the regulatory approval for Nucala (mepolizumab) for the usage in children as young as the age of six, who are suffering from severe eosinophilic asthma.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 4.5% |
| 2027 Value Projection | USD 26.01 Billion |
| Base Year | 2018 |
| Market Size in 2019 | USD 18.08 Billion |
| Historical Data | 2016 to 2018 |
| No. of Pages | 135 |
Key Takeaways from the Asthma Treatment Market:
- Increasing prevalence of chronic respiratory diseases will spur demand for asthma treatment.
- Increasing demand for asthma treatment drugs will boost the global market growth.
- Asthma Treatment Market segment in healthcare industry holds a significant share in the global market.
- Increasing presence of key products in the Asia-Pacific is anticipated to drive the demand for asthma drugs.
- Asthma Treatment Market size in North America was USD 9.40 Billion in 2019.
Surge in Asthma Cases to Expedite Business Expansion
The increasing prevalence of chronic respiratory diseases such as asthma has led to the expansion of the market during the forecast period. Asthma is considered to be the most common chronic disease worldwide. The growing need for advanced therapeutics will subsequently promote the growth of the market. According to the American Academy of Allergy, Asthma & Immunology (AAAAI), in the United States, in 2016, it was estimated that approximately 8.3% of children in the U.S. had asthma. The launch of low cost-effective therapeutics such as generic equivalents can be an essential factor in augmenting the growth of the market during the forecast period. The growing demand for asthma drugs due to the outbreak of coronavirus will significantly enable the healthy growth of the market. For instance, patients with chronic illnesses such as asthma are more prone to catch the virus. The Centers for Disease Control and Prevention (CDC), in the time of coronavirus pandemic, has issued special guidelines to patients of asthma and also advocated greater precaution for asthma patients.
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Expensive Asthma Medications to Dwindle Market Growth
The high costs associated with asthma inhalers, which are often considered the primary treatment for Asthma will limit the adoption of asthma therapeutics. For instance, the prices of Advair, a critical asthma drug has risen from US$ 316 in 2013 to US$ 496 in 2018, documenting an increase of 56.0%. Furthermore, the underdiagnosis of asthma in developing countries will subsequently restrict the growth of the market during the forecast period. Underdiagnosis of asthma leads to poor clinical outcomes for the patient and the adoption of inappropriate asthma pharmaceuticals as a treatment for their medical condition. These factors together are likely to restrict the growth of the market.
Rising Awareness Among Patients to Support Growth in North America
The market size in North America stood at USD 9.40 billion in 2019. The growth in the region is attributed to the rising prevalence of asthma and the awareness of advanced and efficient asthma therapeutics among patients. The market in Asia Pacific is likely to hold the largest share in the forthcoming years owing to the presence of key products in the region, For instance, the strong growth of Pulmicort, a key asthma drug in China. The increasing prevalence of chronic respiratory diseases and growing launches of key products including efficient generic asthma therapeutics is predicted to bode well for the market in Asia Pacific during the forecast period.
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The Report Lists the Main Companies in the Market:
- AstraZeneca
- GlaxoSmithKline plc
- Teva Pharmaceutical Industries Ltd.
- Merck & Co., Inc.
- Mylan N.V.
- Boehringer Ingelheim International GmbH
- Regeneron
- Sanofi
- Genentech, Inc. (F. Hoffmann-La Roche Ltd)
- Novartis AG
- Sumitomo Dainippon
Some major points from Table of Content:
- Introduction
- Executive Summary
- Market Dynamics
- Key Insights
- Prevalence of Asthma - by Key Regions - 2019
- Pipeline Analysis
- Key Industry Developments (Mergers, Acquisitions, and Partnerships, etc.)
- Regulatory Scenario - by Key Regions
- An Overview of Emerging Treatments for Asthma
- An Overview of Guidelines for the Diagnosis and Management of Asthma (EPR-3)
- Reimbursement Scenario - by Key Regions
- Global Asthma Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Treatment
- Long-Term Control Medications
- Quick-Relief Medications
- Market Analysis, Insights and Forecast – By Route of Administration
- Injectable
- Oral
- Inhaled
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- North America Asthma Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Treatment
- Long-Term Control Medications
- Quick-Relief Medications
- Market Analysis – By Route of Administration
- Injectable
- Oral
- Inhaled
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country
- U.S.
- Canada
- Europe Asthma Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis – By Treatment
- Long-Term Control Medications
- Quick-Relief Medications
- Market Analysis – By Route of Administration
- Injectable
- Oral
- Inhaled
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country/ sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
TOC Continued….
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