The global asthma therapeutics market size was estimated at around USD 26.45 billion in 2023 and it is projected to hit around USD 44.46 billion by 2033, growing at a CAGR of 5.33% from 2024 to 2033.
Key Pointers
- In 2023, North America held the biggest market share of 51%, dominating the industry.
- The anti-inflammatory drug class had the highest revenue share (63%), according to drug class, in 2023.
- According to drug class, the combination therapy market is anticipated to grow at the fastest rate between 2024 and 2033.
- Nebulizers are predicted to increase at the fastest CAGR by product between 2024 and 2033.
- From 2024 to 2033, the oral segment is expected to increase at the fastest pace according to Route of Administration.
Asthma Therapeutics Market Growth
Drug Class Insights
Product Insights
In 2023, the inhalers segment led in revenue generation, driven by factors such as reliability, versatility, portability, and cost-effectiveness. The increasing prevalence of asthma and Chronic Obstructive Pulmonary Disease (COPD), coupled with a growing demand for emergency treatment alternatives during sudden attacks, significantly contributed to securing a substantial market share for inhalers. Ongoing advancements leading to the development of more sophisticated products further position this segment for continued expansion. A notable example is the approval of GSK Plc. and Innoviva’s triple therapy inhaler, Trelegy Ellipta, in the U.S. for treating asthma and COPD, granted in September 2020. As the market evolves, inhalers are expected to maintain their prominence.
Concurrently, the nebulizers segment is projected to register the fastest Compound Annual Growth Rate (CAGR) from 2024 to 2033. The primary catalyst behind this growth is the ease of use, making nebulizers particularly well-suited for children, elderly patients, and individuals with severe asthma who may struggle with inhaler techniques. The increasing adoption of nebulizers in home healthcare and emergency medicine, driven by associated benefits like enhanced comfort, the ability to administer larger dosages ensuring sustained results, and favorable reimbursement scenarios, is expected to be a key driver for market expansion. Additionally, continuous advancements in nebulizer technology, including the introduction of portable and handheld devices, are enhancing patient compliance and convenience.
Regional Insights
Read More: https://www.heathcareinsights.com/north-america-life-science-tools-market/
Key Companies
- Teva Pharmaceutical Industries Ltd.
- GSK plc
- Merck & Co., Inc.
- F. Hoffmann-La Roche Ltd
- AstraZeneca
- Boehringer Ingelheim International GmbH
- Sanofi.
- Koninklijke Philips N.V.
- BD
- Covis Pharma
Asthma Therapeutics Market Segmentations:
By Drug Class
- Anti- inflammatory
- Bronchodilators
- Combination Therapy
By Product
- Inhalers
- Dry Powder
- Metered Dose
- Soft Mist
- Nebulizers
By Route of Administration
- Oral
- Inhaled
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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