Dublin, July 25, 2024 (GLOBE NEWSWIRE) -- The "Asthma Treatment - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The global asthma treatment market was valued at USD 23.92 billion in 2023, growing at a CAGR of 4.21% during the forecast period from 2024 to 2030 to reach USD 31.83 billion by 2030 owing to the growing prevalence of asthma and rise in smoking habits and air pollution.
The need for asthma treatment is primarily being propelled by the growing prevalence of asthma cases. A rise in smoking habits and air pollutions affect the lung function resulting in development of asthma, which resulting in growing need for asthma treatment. Furthermore, government organizations and agencies are actively increasing asthma treatment awareness in less developed countries.
Through focused efforts, they aim to educate people about asthma management, bridging critical gaps in access to care and empowering individuals to seek timely treatment for better health outcomes. These are some of the key factors that are responsible in contributing to the positive growth of the asthma treatment market during the forecast period from 2024 to 2030.
Asthma Treatment Market Segment Analysis:
In the drug class segment of the asthma treatment market, the short-acting bronchodilators category is estimated to hold a significant revenue share in the asthma treatment market in 2023. This is attributed to the wide use of short-acting bronchodilators in the asthma treatment such as Albuterol and Levalbuterol. Albuterol, widely prescribed as Albuterol metered-dose inhaler and Levalbuterol, represents the predominant medications within this area. Albuterol is typically administered in response to acute episodes of breathlessness, wheezing, chest constriction, and coughing in individuals afflicted with acute asthma.
In January 2023, AstraZeneca plc, announced the approval of AIRSUPRA (albuterol/budesonide) for the treatment of asthma in the United States. This drug is used for treated of asthma for the people aged 18 or above. AIRSUPRA is a pioneering pressurized metered-dose inhaler (pMDI), presenting a unique fixed-dose combination rescue solution. It comprises albuterol, recognized as a short-acting beta2-agonist (SABA), alongside budesonide, an inhaled corticosteroid (ICS) with anti-inflammatory properties, exclusively available in the United States.
In April 2024, Teva Pharmaceutical Industries Ltd. and Launch Therapeutics, Inc., have entered into a clinical collaboration agreement to expedite the clinical research program for development of TEV-'248. The collaboration harnesses Teva's proficiency in respiratory technology advancement alongside Launch Therapeutics' pioneering late-stage drug development approach to advance Teva's Dual-Action Asthma Rescue Inhaler (TEV-'248) program.
Therefore, the advantage of short-acting bronchodilators in sudden asthma episodes will contribute to the growth of the segment, thereby driving the growth of the overall asthma treatment market during the forecast period.
North America Is Expected To Dominate The Overall Asthma Treatment Market:
North America is estimated to account for largest market share in the asthma treatment market in 2023 due to high prevalence of asthma and presence of major market players in the region. These are some of the key factors driving the growth of the asthma treatment market in North America.
This respiratory condition also poses a substantial burden on children, emerged as a leading chronic disease among them. Approximately 4.5 million children under the age of 18 in the U.S. were diagnosed with asthma, underscoring the importance of targeted interventions and comprehensive management strategies to address this widespread health issue.
Key player operating in the region are extensively focusing on R&D to develop and commercialize innovative therapies for treatment of asthma. For instance, in December 2021, Amgen Inc. and AstraZeneca have announced that the U.S. Food and Drug Administration (FDA) granted approval for TEZSPIRE (tezepelumab-ekko). This medication is indicated as an additional maintenance treatment for severe asthma in adult and pediatric patients aged 12 years and older.
Recent Developmental Activities In The Asthma Treatment Market:
- In January 2024, GSK plc, announced that the China National Medical Products Administration (NMPA) has granted approval for Nucala (mepolizumab) as an additional maintenance therapy for severe eosinophilic asthma in adults and adolescents aged 12 years and above.
- In July 2023, Hormosan Pharma GmbH, a subsidiary of Lupin based in Germany, has launched the release of Luforbec. This is a fixed combination medication available in a pressurized metered dose inhaler (pMDI), comprising beclometasone and formoterol. It is intended for the management of adult asthma and chronic obstructive pulmonary disease (COPD) in the Germany.
- In January 2023, Landos Biopharma share its clinical development pipeline mentioning that LABP-73 which is a novel NLRX1 agonist is under development for the treatment of asthma and COPD.
Company Profiles
- AstraZeneca
- GSK plc
- Novartis AG
- Genentech, Inc.
- Boehringer Ingelheim International GmbH
- Teva Pharmaceutical Industries Ltd.
- Adherium
- Amgen Inc.
- Viatris Inc.
- Pfizer Inc.
- Sanofi
- Landos Biopharma
- Regeneron Pharmaceuticals Inc.
- InCarda Therapeutics, Inc.
- Sunovion Pharmaceuticals Inc.
- Ribon Therapeutics
- Liquidia Corporation
- Pulmocide
- Nephron Pharmaceuticals Corporation
- Avalyn Pharma Inc.
Key Topics Covered:
1. Asthma Treatment Market Report Introduction
1.1. Scope of the Study
1.2. Market Segmentation
1.3. Market Assumption
2. Asthma Treatment Market Executive Summary
2.1. Market at Glance
3. Competitive Landscape
4. Regulatory Analysis
4.1. The United States
4.2. Europe
4.3. Japan
4.4. China
5. Asthma Treatment Market Key Factors Analysis
5.1. Asthma Treatment Market Drivers
5.1.1. The growing prevalence of asthma cases worldwide
5.1.2. A rise in smoking habits and air pollution
5.1.3. Growing awareness and government support for asthma treatment
5.2. Asthma Treatment Market Restraints and Challenges
5.2.1. Adverse effect of asthma drugs
5.2.2. High cost of medicines
5.3. Asthma Treatment Market Opportunity
5.3.1. Discovery of new mechanism creates opportunities for drug development
5.3.2. Focus on development of novel biologicals and precision medicines
6. Asthma Treatment Market Porter's Five Forces Analysis
6.1. Bargaining Power of Suppliers
6.2. Bargaining Power of Consumers
6.3. Threat of New Entrants
6.4. Threat of Substitutes
6.5. Competitive Rivalry
7. Asthma Treatment Market Assessment
7.1. By Drug Class
7.1.1. Inhaled Corticosteroids
7.1.2. Systemic Corticosteroids
7.1.3. Short-acting Bronchodilators
7.1.4. Long-acting Bronchodilators
7.1.5. Antimuscarinics
7.1.6. Leukotriene Inhibitors
7.1.7. Biologicals
7.1.8. Others
7.2. By Route of Administration
7.2.1. Oral
7.2.2. Inhaled
7.2.3. Injectable
7.3. By Distribution Channel
7.3.1. Hospital Pharmacy
7.3.2. Retail Pharmacy
7.3.3. Online Pharmacy
7.4. By Geography
8. Asthma Treatment Market Company and Product Profiles
8.1. Company Overview
8.2. Company Snapshot
8.3. Financial Overview
8.4. Product Listing
For more information about this report visit https://www.researchandmarkets.com/r/haveb1
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