Pune, India, Jan. 16, 2023 (GLOBE NEWSWIRE) — Worldwide asthma treatment market It is projected to grow from USD 18.08 billion to USD 26.01 billion by 2027, exhibiting a CAGR of 4.5% during the forecast period. This information is provided by Fortune Business Insights in its report, “Asthma Treatment Market Forecast, 2020-2027.” with the title Rising incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, lung cancer, asthma and pleural effusion will drive the demand for asthma treatment.
Basic processing:
September 2019The US FDA announced the regulatory approval of Nucala (mepolizumab) for children younger than six years of age with severe eosinophilic asthma.
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Reporting scope and segmentation
| Report coverage | Details |
| Forecast period | From 2020 to 2027 |
| Forecast period 2020 to 2027 CAGR | 4.5% |
| 2027 value prediction | 26.01 billion USD |
| Base year | 2018 |
| Market size in 2019 | USD 18.08 billion |
| Historical data | From 2016 to 2018 |
| Number of pages | 135: |
Key Takeaways Asthma treatment market:
- Increasing prevalence of chronic respiratory diseases will drive the demand for asthma treatment.
- Increasing demand for asthma treatment drugs will drive the growth of the global market.
- The asthma treatment market segment in the healthcare sector holds a significant share in the global market.
- The growing presence of key products in the Asia-Pacific region is expected to drive the demand for asthma drugs.
- Asthma treatment market size in North America was USD 9.40 billion in 2019.
Increase in asthma cases to accelerate business expansion
Increasing prevalence of chronic respiratory diseases such as asthma has led to market expansion during the forecast period. Asthma is considered the most common chronic disease worldwide. The growing need for advanced therapeutics will further fuel the market growth. According to the American Academy of Allergy, Asthma and Immunology (AAAAI), in the United States, in 2016, it was estimated that approximately 8.3% of children in the United States had asthma. The launch of low-cost therapeutics such as generic equivalents could be an important factor in augmenting market growth over the forecast period. Due to the outbreak of coronavirus, the increasing demand for asthma drugs will significantly enable the healthy growth of the market. For example, patients with chronic conditions such as asthma are more prone to contracting the virus. The Centers for Disease Control and Prevention (CDC) has issued specific guidelines for asthma patients during the coronavirus pandemic and has also advocated for greater precautions for asthma patients.
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Expensive asthma drugs to reduce market growth
The high costs associated with asthma inhalers, often considered the primary treatment for asthma, will limit the uptake of asthma therapeutics. For example, prices of Advair, an important asthma drug, rose from $316 in 2013 to $496 in 2018, a 56.0% increase. Moreover, underdiagnosis of asthma in developing countries will further limit the market growth during the forecast period. Underdiagnosis of asthma leads to poor clinical outcomes for the patient and the administration of inappropriate asthma pharmaceuticals as a means of treating their medical condition. Together, these factors are likely to limit the growth of the market.
Increasing patient awareness to support growth in North America
The North America market size was USD 9.40 billion in 2019. The growth in the region is attributed to increasing prevalence of asthma and awareness of advanced and effective asthma therapies among patients. The Asia Pacific market is likely to account for the largest share in the coming years due to the presence of key products in the region, such as strong growth of Pulmicort, a major asthma drug, in China. Rising prevalence of chronic respiratory diseases and increasing launch of key products, including effective general asthma therapeutics, are projected to bode well for the Asia Pacific market over the forecast period.
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The main companies of the market are mentioned in the report.
- AstraZeneca:
- GlaxoSmithKline plc
- Teva Pharmaceutical Industries Ltd.
- Merck & Co., Inc.
- Mylan NV:
- Boehringer Ingelheim International GmbH
- Regeneron
- Sanofi
- Genentech, Inc. (F. Hoffmann-La Roche Ltd)
- Novartis AG
- Sumitomo Dainipon
Some key points from the table of contents:
- Introduction:
- Executive summary
- Market dynamics
- Basic concepts
- Prevalence of asthma by major regions – 2019
- Pipeline analysis
- Major industry developments (mergers, acquisitions and partnerships, etc.)
- Regulatory scenario – by major regions
- Overview of evolving asthma treatments
- Overview of Guidelines for the Diagnosis and Management of Asthma (EPR-3)
- Compensation scenario – by major regions
- Global Asthma Treatment Market Analysis, Insights and Forecasts, 2016-2027
- Key findings / summary
- Market Analysis, Insights & Forecasts – By Treatment
- Long-term control drugs
- Quick help drugs
- Market Analysis, Insights & Forecasts – By Management Route
- Market Analysis, Insights & Forecasts – By Distribution Channel
- Hospital pharmacies
- Retail pharmacies and pharmacies
- Online Pharmacies
- Market Analysis, Insights & Forecasts – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- North America Asthma Treatment Market Analysis, Insights and Forecasts, 2016-2027
- Key findings / summary
- Market analysis – by treatment
- Long-term control drugs
- Quick help drugs
- Market Analysis – Through Management
- Market Analysis – By Distribution Channel
- Hospital pharmacies
- Retail pharmacies and pharmacies
- Online Pharmacies
- Market analysis – by country
- Europe Asthma Treatment Market Analysis, Insights and Forecasts, 2016-2027.
- Key findings / summary
- Market analysis – by treatment
- Long-term control drugs
- Quick help drugs
- Market Analysis – Through Management
- Market Analysis – By Distribution Channel
- Hospital pharmacies
- Retail pharmacies and pharmacies
- Online Pharmacies
- Market analysis – by country/sub-region
- Great Britain
- Germany
- France
- Spain
- Italy
- Scandinavia
- The rest of Europe
TOC Continued…
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Respiratory devices market Growth, 2023-2029
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