London, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The WHO reported nearly 262 million asthma patients worldwide in the year 2019, further following around 455,000 mortalities due to asthma the same year. On the other hand, the Global Initiative for Asthma’s 2020 report suggested 1-18% of the population from different parts around the globe living with asthma. While the statistics point to the severely rising burden of asthma on the global health system that primarily drives the global asthma treatment market, a new Fairfield Market Research study says COVID-19 pandemic played out as a significant booster to the market over the recent past. “The pandemic worsened asthma symptoms to a large extent, which paved the way for the entry of more efficient, and effective therapeutics for asthma,” reports the analyst at Fairfield.
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Insights into Segmental Analysis
Based on drug/therapeutic class, research shows dominance of the combination therapy segment. The combination therapy that combines inhaled corticosteroids along with long-acting beta-agonists is expected to account for a leading revenue share on the back of widespread availability on the market, superior therapeutic effect, and better patient adherence to medication. Given the notably high efficacy of combination therapy, adoption is likely to escalate in the years to come. On the other side, analysis of the asthma treatment market by the route of administration primarily shows continued primacy of the inhaled drugs segment. While this category spearheads on account of greater patient medication compliance of the pulmonary drug delivery systems, the report also highlights the fact that penetration of inhaled drugs has been the maximum. The heightened patient awareness levels of alternative asthma therapeutic options and ease of use associated with these enhanced drug delivery systems are gaining prominence thereby encouraging the segment growth over the forecast period.
Insights into Regional Analysis
Strongly driven by some of the globally leading industry players, North America is expected to retain dominance in the worldwide asthma treatment market in long term. In addition to rapidly rising asthma prevalence, especially in the US, the market here will benefit significantly from a notable success rate recorded by certain respiratory drug categories. Research reveals an alarming rate of increase in prevalence of asthmas, as well as a few other respiratory conditions among children, and adolescents over the recent past, which further indicates a massive opportunity for the players in asthma market of the US, in turn North America. The awareness regarding the same has been naturally raised post-COVID-19 pandemic. Moreover, greater healthcare spending and favorable regulatory structures set by governments will continue to be the strongest factors solidifying the positioning of North America in the global asthma treatment market.
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Key Companies in Asthma Treatment Market
Some of the major participants driving the competition landscape of global asthma treatment market space would be subject to detailed strategic analysis in the report. A few of the potentially profiled players include Novartis AG, GlaxoSmithKline Plc, AstraZeneca, Merck & Co. Inc., Sanofi, Sumitomo Dainippon Pharma Co. Ltd., Cipla, Teva Pharmaceuticals, Lupin Pharmaceuticals, Regeneron, and Mylan N.V.
The Global Asthma Treatment Market is Segmented as Below:
By Treatment Type
- Long Term Asthma Control Medications
- Quick Relief (Rescue) Medications
By Route of Administration
- Inhaled
- Oral
- Intravenous
- Subcutaneous
By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Drug Stores
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
Key Elements Included in The Study: Global Asthma Treatment Market
- Asthma Treatment Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2018 - 2021
- Market Value at Regional and Country Level, 2022 - 2029
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/asthma-treatment-market/more-information
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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