PUBLISHER: The Business Research Company | PRODUCT CODE: 1427704
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427704
Asthma is a chronic respiratory condition characterized by inflammation and constriction of the airways, resulting in difficulty breathing. This condition is triggered by factors such as allergens, leading to airway narrowing and excess mucus production. Asthma drugs play a vital role in managing symptoms associated with asthma.
Asthma can be categorized into allergic and non-allergic types. Allergic asthma involves airway constriction triggered by exposure to allergens, leading to respiratory difficulties. Various triggers for asthma include adult-onset asthma, child-onset asthma, cough-induced asthma, exercise-induced asthma, occupational asthma, nocturnal asthma, and steroid-resistant asthma. Asthma drugs are classified into bronchodilators, monoclonal antibodies, anti-inflammatory drugs, and combination drugs, catering to the needs of asthma and COPD patients.
The asthma drugs market research report is one of a series of new reports from The Business Research Company that provides asthma drugs market statistics, including the asthma drugs industry global market size, regional shares, competitors with a chronic kidney disease market share, detailed asthma drugs market segments, asthma drugs market trends, and opportunities, and any further data you may need to thrive in the asthma drugs industry. This asthma drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The asthma drugs market size has grown strongly in recent years. It will grow from $23.05 billion in 2023 to $24.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth observed in the historical period can be attributed to various factors, including environmental influences, a rise in respiratory disorders, shifts in lifestyle, and the development of healthcare infrastructure.
The asthma drugs market size is expected to see strong growth in the next few years. It will grow to $30 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The projected growth in the forecast period can be attributed to factors such as increasing air pollution levels, a growing aging population, rising healthcare awareness, the trend toward personalized medicine, and innovations in biopharmaceuticals. Key trends anticipated in the forecast period include the development of small molecule therapies, the expansion of home-based asthma care, the use of biomarker-guided therapies, advancements in therapeutic approaches for severe asthma, and collaborative efforts in asthma research.
The escalating prevalence of asthmatic conditions is anticipated to be a driving force behind the expansion of the asthma drug market in the foreseeable future. Asthma, a persistent ailment causing inflammation and constriction of airways, has led to an upsurge in the quest for novel asthma drugs. This surge is a response to the mounting cases of asthma. As reported by the US Centers for Disease Control and Prevention in May 2023, the prevalence of asthma in the US surged to 24.96 million in 2021, contributing to 3,517 deaths. Consequently, the surge in asthmatic disorders fosters the development of innovative drugs, thereby propelling growth within the asthma drug market.
The increasing prevalence of respiratory ailments is poised to elevate the asthma drug market. Respiratory diseases, encompassing afflictions affecting the respiratory system, including the lungs, bronchi, trachea, and nasal passages, are driving the demand for asthma drugs. As these conditions, especially chronic inflammatory diseases such as asthma, become more pervasive, the necessity for efficient therapeutic remedies intensifies. For instance, data from the NCD Alliance in February 2021 highlighted lung cancer as the leading cause of global cancer-related fatalities, projecting 2.2 million new cases and 1.8 million deaths. Hence, the burgeoning prevalence of respiratory illnesses is set to propel the asthma drug market forward.
Innovative product development stands as a significant trend gaining traction within the asthma drug market. Major players within this sector are strategically focused on creating novel solutions to maintain their market position. An illustration of this trend is evident in the collaboration between Amgen, a US-based biopharmaceutical company, and AstraZeneca, a UK-based biopharmaceutical company, resulting in the FDA approval of Tezpire, an injectable drug engineered to alleviate asthma symptoms. Tezpire's mechanism of action involves curbing inflammation linked to asthma attacks, exhibiting potential benefits for individuals with severe asthma, including those previously lacking effective treatment options. As the first biologic to consistently reduce asthma-related exacerbations in Phase 2 and 3 clinical trials, the approval of Tezpire promises greater therapeutic advantages, aligning with the escalating instances of asthma cases.
Prominent entities within the asthma drug market are ardently committed to product innovation, exemplified by the introduction of indacaterol plus mometasone. This innovative fixed-dose combination medication aims to enhance the management of uncontrolled asthma by improving lung function, bolstering symptom control, and reducing exacerbations. Notably, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company, unveiled the novel Indacaterol plus Mometasone drug, marketed as Indamet, in June 2022. This pioneering drug, the first of its kind in India, caters to adults and adolescents (aged 12 and above) grappling with uncontrolled asthma. Positioned as a world-class yet affordable treatment option, Indamet offers promising relief for individuals coping with unmanaged asthma, reinforcing the ongoing emphasis on innovative advancements within the asthma drug market.
In March 2022, Sandoz, a German pharmaceutical company, successfully acquired Coalesce Product Development Limited for an undisclosed sum. This strategic acquisition aligns with Sandoz's goal of expanding its respiratory division's portfolio and solidifying its global leadership in respiratory products. Through this transaction, Sandoz gains valuable assets and enhanced capabilities in medical and drug-device development, particularly in the respiratory and complex generics markets. The acquisition positions Sandoz to better serve patients with respiratory diseases, including asthma and COPD, by offering affordable and high-quality drug-device combination products, such as inhalers. Coalesce Product Development Limited, based in the UK, is a company specializing in the development of drug delivery devices, boasting a diverse portfolio that includes pressurized metered-dose inhalers, breath-actuated inhalers, pre-metered dry powder inhalers, and more.
Major companies operating in the asthma drugs market report are Pfizer Inc., Roche Holding AG, Merck & Co. Inc., Bayer AG, Sanofi S.A., AstraZeneca PLC., GlaxoSmithKline PLC., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Novartis International AG, Mylan N.V., Koninklijke Philips N.V, Cipla Limited, Chiesi Farmaceutici S.p.A., Sun Pharmaceutical Industries Limited, Hikma Pharmaceuticals, Mundipharma International Limited, Lupin Limited, Glenmark Pharmaceuticals Limited, Hetero Drugs Limited, Alembic Pharmaceuticals Limited, Sunovion Pharmaceuticals Inc., Amphastar Pharmaceuticals Inc., Beximco Pharmaceuticals Ltd., Innoviva Inc., Vectura Group, Circassia Group PLC, Pari Medical Holding GmbH, Pulmatrix Inc., Atopix Therapeutics Limited
North America was the largest region in the asthma drugs market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the asthma drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the asthma drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The asthma drugs market consists of sales of drugs such as bronchodilators (beta-2 agonists), monoclonal antibodies (omalizumab, mepolizumab), and anti-inflammatory drugs (budesonide, ciclesonide), used for the treatment of asthma in patients of all ages. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Asthma Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on asthma drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for asthma drugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The asthma drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.