Asthma Therapeutics Market Size, Share, Analysis, Trends, Growth, 2032

Asthma Therapeutics Market Insights

According to Zion Market Research, the global Asthma Therapeutics Market was worth USD 27.59 Billion in 2023. The market is forecast to reach USD 46.83 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.4% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Asthma Therapeutics Market industry over the next decade.

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Asthma Therapeutics Market: Overview

The report offers valuation and analysis of the Asthma Therapeutics market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on value (USD Billion).

Asthma is a chronic allergic disease of respiratory system and has impacted nearly 300 million persons across the globe. The disease is diagnosed medically based on the dyspnea, wheeze, and cough symptoms. Asthma is caused due to environmental factors such as air pollution, allergens, and pollen grains. As per Lancet, family studies have revealed that genetic aspects play a vital role in deducing the susceptibility of individuals to asthma. Drugs such as long acting beta-agonists, anti-inflammatory agents, corticosteroids, and leukotriene modifiers are used for treating asthma. In addition to this, asthma patients are more prone to get infected due to flu and pneumonia.

Asthma Therapeutics Market: Report Scope

Asthma Therapeutics Market: Growth Drivers

Surging proportion of pollution levels and alterations in the lifestyle patterns will boost the market trends. In addition to this, a prominent increase in the smoker proportion will result in the business growth in the years ahead.  Apparently, launching of low cost generic drugs as well as its approval by regulatory bodies such as the U.S. FDA is predicted to steer the growth of asthma therapeutics market over the years ahead.

Furthermore, rise in the occurrence of asthma in children is likely to create massive product demand over the years ahead. As per American Academy of Allergy, Asthma & Immunology, in 2016, nearly 8.3% of children in the U.S. were diagnosed with Asthma. Surging requirement of improving the clinical treatment methods with the perspective of curbing COVID-19 epidemic is likely to result in the market expansion over the forthcoming years. With majority of governments taking initiatives for creating awareness among the population pertaining to occurrence of asthma, the market is anticipated to gain traction over the ensuing years. Nonetheless, lack of knowledge among the patients pertaining to standard medical treatments for asthma and huge treatment costs can obstruct the stream of market growth over the years ahead.

The Asthma Therapeutics Market focuses on the development, manufacturing, and distribution of treatments designed to manage and control asthma, a chronic respiratory condition characterized by inflammation and narrowing of the airways. This market is driven by the rising global prevalence of asthma, increased air pollution, and advances in therapeutic treatments. Asthma therapeutics aim to reduce symptoms such as wheezing, shortness of breath, and coughing, helping patients manage their condition effectively.

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Asthma Therapeutics Market: Segmentation

The global asthma therapeutics market is bifurcated on the basis of drug class, route of administration, product, and regional analysis.

Based on the drug class, the market is divided into bronchodilators, anti-inflammatory, and combination therapy.

Based on the product, the market is divided into inhalers and nebulizers. The inhalers section is subdivided into dry powder inhalers, soft mist inhalers, and metered dose inhalers.

Based on the route of administration, the market is segmented into inhaled, oral, and others.

Asthma Therapeutics Market: Regional Insights

North America To Lead Overall Market Growth Over 2024-2032

The expansion of the asthma therapeutics industry in the sub-continent over the assessment timeline is owing to prominent increment in the awareness about different kinds of medical treatments for asthma. In addition to this, rise in the acceptance of inhaled therapeutics is one of the key factors driving the regional market revenue. Rise in the aging populace prone to respiratory ailments such as asthma in the countries like the U.S. is likely to define the industry growth in the sub-continent over the forthcoming years. With outbreak of COVID-19 and large number of deaths due to the pandemic in the U.S., the asthma drug treatment has garnered huge support from various sections of the society in the region and this will produce a favorable impact on the business in the sub-continent over the forecasting timespan.

Asthma Therapeutics Market: Competitive Space

Key participants profiled in the report include

• Sunovion Pharmaceuticals. Inc.
• CareFusion Corporation
• Boehringer Ingelheim GmbH
• Merck & Co. Inc.
• Philips Healthcare
• AstraZeneca Plc
• Sanofi-Aventis SA
• GlaxoSmithKline Plc
• Teva Pharmaceutical Industries Ltd.
• Roche Diagnostics.

The global asthma therapeutics market is segmented as follows:

By drug class:

• Anti-inflammatory
• Combination therapy
• Bronchodilators

By product:

• Inhalers
  • Soft mist inhalers
  • Metered dose inhalers
  • Dry powder inhalers
• Nebulizers

By route of administration:

• Inhaled
• Oral
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa