Rockville , Dec. 13, 2023 (GLOBE NEWSWIRE) -- Worldwide Demand of Asthma Treatment are pegged at US$ 25.8 Billion in 2023, as per a new study published by Fact.MR, a market research and competitive intelligence provider. The global Asthma Treatment Market is projected to reach a valuation of US$ 35.4 Billion million by the end of 2033.
One of the main factors that is anticipated to enhance demand for asthma treatments in the future is the noticeable increase in the frequency of chronic disorders in recent years. This trend has led to a high demand for novel treatments and therapies to treat these chronic disorders. Additional factors that may increase demand for asthma care through 2033 include rising air pollution, poor lifestyle choices that compromise immunity, a high prevalence of psychological disorders, a high incidence of asthma in young people, and rising investments in the development of new asthma medications.
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| Report Attribute | Details |
| Value Projection (2033) | US$ 35.4 Billion |
| Growth Rate (2023-2033) | 3.2% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 39 Tables |
| No. of Figures | 102 Figures |
Top Fortune Companies Profiled in This Report
- Boehringer Ingelheim International GmbH
- Teva Pharmaceutical Industries Ltd.
- AstraZeneca
- Merck & Co. Inc.
- Novartis AG
- Sanofi
- F. Hoffmann-La Roche Ltd.
- Sumitomo Dainippon Pharma Co. Ltd.
- Mylan N.V.
- GlaxoSmithKline Plc
Country-wise Insights
Why are providers of asthma treatments looking towards the United States?
"Demand for asthma care is driven by the high prevalence of asthma."
Due to the high prevalence of asthma and rising knowledge of new asthma treatments, the United States represents the most attractive market in North America for providers of asthma treatments. Additional factors that could support demand for asthma treatment in the nation over the projected period include substantial investments in asthma research, the introduction of innovative asthma treatment products by well-established companies, advantageous reimbursement regulations, and high healthcare expenditure.
Per the data presented by the Asthma and Allergy Foundation of America, around 1 in 13 Americans, or approximately 25 million, are affected by asthma. Adult Blacks in the nation had the greatest prevalence of asthma.
Other factors that are predicted to open up new opportunities for both established and up-and-coming asthma treatment providers in the nation include the government's growing support for the development of innovative treatments for asthma and the FDA's increasing frequency of approval for new asthma therapeutics.
Competitive Landscape:
Leading asthma treatment businesses are concentrating on introducing innovative treatment medications to enhance their sales potential and obtain a competitive edge over other market participants in the industry.
An all-Indian multinational pharmaceutical business called Lupin announced in January 2023 the introduction of a new medication regimen designed to help people with their asthma. Indacaterol, glycopyrronium, and mometasone are the three novel fixed-dose triple drug combinations (FDCs) that were introduced in India under the DIFIZMA brand.
Key Segments of Asthma Treatment Industry Research
The Asthma Treatment industry research is structured across key segments to provide a comprehensive understanding of the market dynamics and treatment landscape. Firstly, in terms of treatment, the industry is categorized into long-term asthma control medications and quick-relief (rescue) medications.
Long-term asthma control medications encompass a variety of options such as combination inhalers, inhaled corticosteroids, long-acting beta agonists, leukotriene modifiers, theophylline, and others like Reslizumab, Benralizumab, among others. These medications are designed to provide sustained asthma management over an extended period, addressing the chronic nature of the condition.
On the other hand, quick-relief medications cater to immediate relief needs and include short-acting beta agonists, ipratropium (Atrovent), and oral & intravenous corticosteroids. These medications are crucial for managing acute asthma symptoms and exacerbations.
The route of administration is another significant segment, delineating how asthma medications are delivered. This includes inhaled, oral, intravenous, and subcutaneous routes, each with its specific advantages and considerations. Inhaled medications are commonly used and preferred for their targeted delivery to the respiratory system.
The distribution channels in the asthma treatment industry are diverse, encompassing hospital pharmacies, retail pharmacies, and online pharmacies. The accessibility of medications through various channels reflects the evolving landscape of healthcare services and patient preferences.
Geographically, the market is divided into regions to analyze regional variations and trends. These regions include North America, Latin America, Europe, Asia-Pacific (APAC), and the Middle East and Africa (MEA). This segmentation enables a detailed examination of regional factors influencing the prevalence of asthma, treatment practices, and market dynamics.
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Key Trends of Asthma Treatment Market
Biologics and Targeted Therapies:
- The development and utilization of biologics and targeted therapies represent a significant trend in asthma treatment. Medications such as monoclonal antibodies like Reslizumab and Benralizumab target specific pathways involved in asthma, offering more personalized and effective treatment options.
Digital Health Solutions for Asthma Management:
- The integration of digital health solutions, including mobile apps, connected devices, and telehealth platforms, is transforming asthma management. These tools enable real-time monitoring, personalized treatment plans, and remote patient engagement, improving overall asthma care.
Focus on Precision Medicine:
- Precision medicine approaches in asthma treatment involve tailoring therapies based on individual patient characteristics, including genetics and biomarkers. This trend aims to optimize treatment effectiveness and minimize adverse effects by aligning interventions with patient-specific factors.
Innovations in Inhaler Technology:
- Advances in inhaler technology continue to enhance the delivery of asthma medications. Smart inhalers, for instance, provide dose tracking, reminders, and data on inhalation techniques, promoting better adherence and improved management of asthma symptoms.
Combination Therapies for Comprehensive Control:
- The trend towards combining different classes of medications, such as inhaled corticosteroids with long-acting beta agonists, offers comprehensive asthma control. Combination therapies address multiple aspects of asthma pathophysiology, providing more effective symptom management.
Patient-Centric Care and Shared Decision-Making:
- There is an increasing emphasis on patient-centric care and shared decision-making in asthma treatment. Healthcare providers collaborate with patients to develop personalized treatment plans, considering individual preferences, lifestyle factors, and treatment goals.
Environmental and Lifestyle Interventions:
- Recognition of environmental factors influencing asthma has led to a trend in incorporating environmental and lifestyle interventions as part of asthma management. This includes addressing allergens, pollution, and lifestyle modifications to minimize triggers and improve overall asthma control.
Global Initiatives for Asthma Awareness and Education:
- Ongoing global initiatives focus on raising awareness about asthma, improving education on proper inhaler use, and reducing the stigma associated with the condition. Increased awareness contributes to early diagnosis, better management, and improved quality of life for individuals with asthma.
Value-Based Care and Cost-Efficiency:
- The industry is witnessing a shift towards value-based care, emphasizing positive patient outcomes and cost-efficiency. This trend encourages the development of effective and economical treatment strategies to ensure accessibility and affordability of asthma medications.
Research on Novel Therapeutic Targets:
- Ongoing research explores novel therapeutic targets beyond traditional pathways, aiming to identify new treatment options with enhanced efficacy and reduced side effects. This trend contributes to the continuous evolution of asthma treatment modalities.
Explore More Related Studies Published by Fact.MR Research:
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Dry Powder Inhaler Market: The global dry powder inhaler market is expected to top US$ 1.3 Bn by 2031, rising at a CAGR of 7.2% through 2021-2031. The market is estimated to create an absolute $ opportunity of about US$ 458 Mn by 2031.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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