Market Research Report
Global Pediatric Asthma Treatment Market - 2022-2029
|Global Pediatric Asthma Treatment Market - 2022-2029|
Published: May 7, 2022
Content info: 180 Pages
Delivery time: 2 business days
The global pediatric asthma treatment market size was valued US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).
Asthma in children is a chronic inflammatory disease of the airways that causes airflow restriction. It is the most frequent chronic condition that affects children and newborns, and it is difficult to identify. A whistling sound when breathing, quick and laborious breathing, chest pain, coughing, and a lack of energy or weariness are all signs of juvenile asthma. When youngsters engage in any physical activity, a small percentage of them develop asthma. Exercise-induced bronchospasm is the name for it. Although there is no cure for pediatric asthma, it is managed with the correct drugs and treatment plan to prevent further lung damage.
Precision medicine for treating severe pediatric asthma is expected to drive market growth.
Asthma is a diverse disease with a wide range of symptoms and endotypes. Precision medicine in asthma refers to developing a personalized treatment plan for each kid based on the identification of treatable characteristics such as environmental, immunological, and genetic factors. Severe asthma in children is linked to a higher risk of hospitalization, a worse quality of life, higher healthcare expenses, and a higher mortality rate. In the era of novel molecular biologics medicines, it's critical to develop thorough phenotyping of children with severe asthma to give the most effective medication to each child individually. For instance, Bronchial Thermoplasty, This treatment reduces airway smooth muscle mass by delivering focused heat to the airway wall. It also affects inflammatory responses and collagen deposition in the mucosa. 134 There have been multiple trials of BT in asthma, including Asthma Intervention Research (AIR)-1135 and AIR-2136, which demonstrate that BT can reduce asthma attacks, enhance lung function, and improve quality of life. The advantages appear to last for at least ten years after the treatment. Thus, the market is expected to drive in the forecast period from the above statements.
High cost for pediatric asthma treatment , preference of alternative drugs(generic drugs), and expiry of patent drugs are some factors that the market is expected to get hampered in the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has moderately impacted healthcare systems and the market. Because of the COVID-19 pandemic, pediatric asthma clinics worldwide have drastically changed their practices in recent years. Almost half of the participants (47%) said their clinics did not accept/receive new patients during the outbreak, with Asian respondents being an exception, with 78 percent saying they did. Physical appointments have been discontinued by 39 percent of participating practitioners, with 60 percent in the most heavily affected countries. Moreover, During the pandemic, 75% of centers that continued to operate physically reported a drop in the number of examined cases. Several practice modifications are undertaken in pediatric asthma clinics that continue to accept physical appointments to reduce these interactions. In addition to reducing the number of cases evaluated, most clinics (62%) reduced the frequency of planned monitoring visits, with 28 percent assessing only children with severe asthma and 8% accepting only patients taking biologics. In 30 percent of the participating institutions, mostly in Asia, access to asthma drugs was a problem (44 percent ). Thus, the COVID-19 pandemic has affected the market moderately. However, the situation is expected to improve gradually in the forecast period.
Long-term control medications segment is expected to hold the largest market share in pediatric asthma treatment market
The long-term control medications segment is expected to dominate in 2020. Asthma treatment includes preventing symptoms and treating an asthma attack that has already begun. Age, symptoms, asthma triggers, and what seems to work best to keep asthma under control all play a role in determining the proper medicine for the child. Preventive, long-term control medications reduce the inflammation in a child's airways, leading to symptoms. In most cases, these medications need to be taken daily. Long-term use of these medications has been associated with slightly slowed growth in children but minor effects.
In most cases, the benefits of good asthma control outweigh the risks of possible side effects. For instance, there are many types of long-term control medications, including inhaled corticosteroids, leukotriene modifiers, combination inhalers, immunomodulatory agents and theophylline. Inhaled corticosteroids are the most common long-term control medications for asthma. These anti-inflammatory drugs include fluticasone (Flovent HFA), budesonide (Pulmicort Flexhaler), beclomethasone (Qvar RediHaler), ciclesonide (Alvesco, Omnaris) and mometasone (Asmanex HFA). Therefore, it has increased the demand for long-term control medications, due to which the market segment is expected to hold the largest market share in the forecast period.
North America region holds the largest market share in the global pediatric asthma treatment market
In 2020, North America accounted for the highest revenue share. The increasing prevalence of asthma cases, technological advancement in asthma treatment, well-established infrastructure, rising geriatric population, product launches, approval and acquisitions by the market players are some factors due to which the market is expected to boost in the forecast period. For instance, according to the Asthma and Allergy Foundation of America, Approximately 25 million Americans have asthma. It equals about 1 in 13 Americans, including 8 percent of adults and 7 percent of children. In 2019, 44.3 percent of children age 18 and younger who had asthma reported having one or more asthma attacks in the past year, and about 47.2 percent of children under the age of 5 with asthma had an episode.
Moreover, on December 17, 2021, Amgen announced that the U.S. Food and Drug Administration (FDA) had approved Amgen and AstraZeneca's Tezspire (tezepelumab-ekko) for the add-on maintenance treatment of adult and pediatric patients aged 12 years and older with severe asthma. Therefore, it has increased the demand for the treatment of asthma in pediatrics. Thus, North America is expected to hold the largest market share in the forecast period from the above statements.
Major key players in the pediatric asthma treatment market are GlaxoSmithKline plc., Aarti Industries Ltd., MANUS AKTTEVA BIOPHARMA LLP, Perrigo Company plc, Covis Pharma B.V., Merck & Co., Inc., AstraZeneca , Viatris Inc., Sanofi and Teva Pharmaceuticals USA, Inc.
GlaxoSmithKline PLC is a global healthcare company founded in 1715 and is headquartered in Middlesex, the United Kingdom. The Company researches and develops a range of products in three primary areas: Pharmaceuticals, Vaccines and Consumer Healthcare. Its product formulations include tablets, creams/ointments, inhalers, injections, liquids and sterile products. Its Pharmaceuticals business has a portfolio of established medicines in respiratory, human immunodeficiency virus (HIV), immuno-inflammation and oncology. Additional products include dental-care products, over-the-counter medications, nutritional drinks, and smoking-cessation products.
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Visualize the composition of the pediatric asthma treatment market segmentation by type, route of administration, distribution Channel and region highlighting the key commercial assets and players.
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