by 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
The growth of the asthma therapeutics market is driven by several key factors. Firstly, the increasing global prevalence of asthma has emerged as a significant driver, leading to a rising demand for effective therapeutic solutions. Moreover, continuous advancements in medical research and technology have introduced innovative treatments, including inhalers and biologics, contributing to the improved management of asthma. The growing awareness among both patients and healthcare professionals about the importance of early diagnosis and enhanced treatment strategies has further propelled market expansion. Despite challenges such as high treatment costs and generic competition, the market’s trajectory remains positive. Looking ahead, the pursuit of personalized medicine tailored to individual genetic profiles is expected to revolutionize asthma treatment approaches, fostering sustained growth in the market.
Get a Sample: https://www.visionresearchreports.com/report/sample/41153
Drug Class Insights
The dominant force in the market was the anti-inflammatory segment, which commanded a substantial 63% revenue share in 2023. This surge can be attributed to the introduction of cost-effective and innovative anti-inflammatory biologics designed to address the needs of severe asthmatic patients. An illustrative example is the FDA’s approval of Xolair in April 2021, a biologic specifically formulated for the treatment of moderate to severe persistent allergic asthma, Chronic Idiopathic Urticaria (CIU), and nasal polyps. Distinguished by its capability to target and block IgE, Xolair exemplifies the evolving landscape of anti-inflammatory treatments. Noteworthy collaborations among pharmaceutical entities, research institutions, and healthcare organizations are propelling research and development efforts within the market. These collaborative endeavors play a crucial role in uncovering and bringing to market novel anti-inflammatory drugs, thereby amplifying the growth of this segment.
Concurrently, the combination therapy segment is poised to exhibit the most rapid Compound Annual Growth Rate (CAGR) from 2024 to 2033. Characterized by the simultaneous use of two medications targeting inflammation and bronchoconstriction – key elements in the pathophysiology of asthma – combination therapy is gaining prominence due to its efficacy compared to alternative drug combinations, ease of administration, and heightened patient compliance. The market is witnessing an upswing in the adoption of combination therapy, facilitated by the accessibility of various fixed-dose combination inhalers that enhance convenience for patients.
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
In 2023, North America dominated the market with the largest market share of 51%. This leadership can be attributed to several factors, including the robust presence of major key players, a well-established healthcare infrastructure, and a rising prevalence of diseases across the region. Notably, the higher incidence of asthma among adult women compared to adult men in the U.S., as highlighted in the CDC’s 2020 report indicating approximately 25 million asthma cases, underscores the substantial impact of respiratory conditions in the region. The Asthma and Allergy Foundation of America (AAFA) further reports around 5 million asthmatic children in the U.S.
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)
Buy this Premium Research Report@ https://www.visionresearchreports.com/report/checkout/41153
You can place an order or ask any questions, please feel free to contact sales@visionresearchreports.com| +1 650-460-3308
