Asthma treatment market size of $26.01 billion

Pune, India, Jan. 16, 2023 (GLOBE NEWSWIRE) — Global Asthma market It is expected to grow from $18.08 billion in 2019 to $26.01 billion by 2027, representing a compound annual growth rate of 4.5% over the forecast period. This information is provided by Fortune Business Insights, in its report titled “Asthma Treatment Market Outlook, 2020-2027.” The increasing incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, lung cancer, asthma and pleural effusion will stimulate the demand for asthma treatment.

development key:

September 2019The US Food and Drug Administration (FDA) has announced regulatory approval of Nucala (mepolizumab) for use in children younger than six years of age with severe eosinophilic asthma.

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Scope and segmentation report

report coverage details
forecast period 2020 to 2027
Forecast period 2020 to 2027 compound annual growth rate 4.5%
2027 drop the value $26.01 billion
base year 2018
market size in 2019 $18.08 billion
Historical data 2016 to 2018
number of pages 135

The main takeaway from Asthma market:

  • Increased prevalence of chronic respiratory diseases will stimulate demand for asthma treatment.
  • Increasing demand for asthma medications will boost the growth of the global market.
  • The asthma treatment segment of the healthcare industry holds a significant share of the global market.
  • The increased presence of major products in the Asia-Pacific region is expected to increase the demand for asthma medicines.
  • The asthma treatment market size in North America was $9.40 billion in 2019.

Increasing cases of asthma to accelerate business expansion

The increasing prevalence of chronic respiratory diseases such as asthma led to an expansion of the market during the forecast period. Asthma is one of the most common chronic diseases worldwide. The increasing need for advanced therapies will further boost the market growth. According to the American Academy of Allergy, Asthma, and Immunology (AAAAI), in the United States, in 2016, it was estimated that about 8.3% of children in the United States had asthma. The launch of effective low cost therapies such as generic equivalents can be a key factor in driving market growth during the forecast period. The increased demand for asthma medications due to the outbreak of the coronavirus will greatly enable the healthy growth of the market. For example, patients with chronic diseases such as asthma are more likely to contract the virus. At the time of the coronavirus pandemic, the Centers for Disease Control and Prevention (CDC) issued special guidance for asthmatics and also called for more precautions for asthmatics.

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Asthma drugs are too expensive to curtail market growth

The high costs associated with asthma inhalers, which are often considered the primary treatment for asthma, will limit the adoption of asthma therapies. For example, the price of Advair, a critical asthma medication, increased from $316 in 2013 to $496 in 2018, documenting a 56.0% increase. Moreover, the underdiagnosis of asthma in developing countries will subsequently constrain market growth during the forecast period. Underdiagnosis of asthma leads to poor clinical outcomes for the patient and the adoption of inappropriate asthma medications as a treatment for their medical condition. These factors combined are likely to limit the growth of the market.

Raising awareness among patients to support growth in North America

The market size in North America was $9.40 billion in 2019. The growth in the region is attributed to the increasing prevalence of asthma and awareness of advanced and effective asthma treatments among patients. The Asia Pacific market is likely to hold the largest share in the coming years due to the presence of key products in the region, for example, the strong growth of Pulmicort, a major asthma drug in China. The increasing prevalence of chronic respiratory diseases and increased launches of key products including effective general therapies for asthma are expected to drive good results for the market in the Asia Pacific region during the forecast period.

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The report lists the major companies in the market:

  • AstraZeneca
  • GlaxoSmithKline Company
  • Teva Pharmaceutical Industries Limited
  • Merck & Co
  • Mylan Nevada
  • Boehringer Ingelheim International GmbH
  • Regeneron
  • Sanofi
  • Genetech, Inc. (F. Hoffmann-La Roche Ltd)
  • Novartis AG
  • Sumitomo Dainibon

Some key points from the table of contents:

  • an introduction
  • Executive summary
  • Market dynamics
  • the main ideas
    • Asthma prevalence rate – by major regions – 2019
    • pipeline analysis
    • Major industry developments (mergers, acquisitions, partnerships, etc.)
    • Regulatory scenario – by major regions
    • An overview of emerging therapies for asthma
    • Overview of Guidelines for the Diagnosis and Management of Asthma (EPR-3)
    • Payment scenario – by major regions
  • Global Asthma Treatment Market Analysis, Insights & Forecasts, 2016-2027
    • Main findings/summary
    • Market analysis, insights and forecasts – as per treatment
      • Long-term control medications
      • Quick relief medication
    • Market analysis, insights and forecasts – as per management track
    • Market analysis, insights and forecasts – by distribution channel
      • Hospital pharmacies
      • Retail pharmacies and drug stores
      • Internet pharmacies
    • Market analysis, insights and forecasts – by region
      • North Amarica
      • Europe
      • Asia Pacific
      • Latin america
      • Middle East and Africa
  • North American Asthma Treatment Market Analysis, Insights and Forecasts, 2016-2027
    • Main findings/summary
    • Market analysis – by processing
      • Long-term control medications
      • Quick relief medication
    • Market analysis – by management track
    • Market analysis – by distribution channel
      • Hospital pharmacies
      • Retail pharmacies and drug stores
      • Internet pharmacies
    • Market analysis – by country
  • Europe Asthma Treatment Market Analysis, Insights and Forecasts, 2016-2027
    • Main findings/summary
    • Market analysis – by processing
      • Long-term control medications
      • Quick relief medication
    • Market analysis – by management track
    • Market analysis – by distribution channel
      • Hospital pharmacies
      • Retail pharmacies and drug stores
      • Internet pharmacies
    • Market analysis – by country/sub-region
      • United kingdom
      • Germany
      • France
      • Spain
      • Italy
      • Scandinavian countries
      • Rest of Europe

Continue to the table of contents….

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