Overview and Scope
Asthma refers to a chronic lung disease that is caused by the inflammation and tightening of muscles around the airways, which makes patients suffer from effective breathing. This is caused when the airways get narrow, swollen, and blocked by excess mucus. Asthma drugs play a crucial role in managing asthma.
Sizing and Forecast
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 in the historic period can be attributed to environmental factors, increased respiratory disorders, lifestyle changes, healthcare infrastructure development..
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 growth in the forecast period can be attributed to rising air pollution levels, growing aging population, increasing healthcare awareness, personalized medicine trends, biopharmaceutical innovations.. Major trends in the forecast period include small molecule therapies, home-based asthma care, biomarker-guided therapies, therapeutic advances in severe asthma, collaborations for asthma research..
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Segmentation & Regional Insights
The asthma drugs market covered in this report is segmented –
1) By Type Of Asthma: Allergic, Non-Allergic
2) By Asthma Trigger Type: Adult-Onset Asthma, Child-Onset Asthma, Cough-Induced Asthma, Exercise-Induced Asthma, Occupational Asthma, Nocturnal Asthma, Steroid-Resistant Asthma
3) By Therapy: Preventive, Curative
4) By Drug Class: Bronchodilators, Monoclonal Antibodies, Anti-Inflammatory Drugs, Combination Drugs
5) By End-User: Asthma Patients, COPD Patients
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.
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Major Driver Impacting Market Growth
The high prevalence of asthmatic disorders is expected to propel the growth of the asthma drug market going forward. Asthma refers to a long-term disease that causes inflammation and swelling of the airways, resulting in the narrowing of the airways that carry air from the nose and mouth to the lungs. Owing to the increase in asthma cases, there has been a surge in the identification of new asthma drugs for treating asthmatic disorders. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, in the US asthma prevalence increased to 24,96 million in 2021 and there were 3,517 deaths. Therefore, the increasing number of asthmatic disorders leads to an increase in the development of novel drugs, which will further drive the asthma drug market.
Key Industry Players
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
The asthma drugs market report table of contents includes:
1. Executive Summary
2. Asthma Drugs Market Characteristics
3. Asthma Drugs Market Trends And Strategies
4. Asthma Drugs Market – Macro Economic Scenario
5. Global Asthma Drugs Market Size and Growth
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31. Asthma Drugs Market Other Major And Innovative Companies
32. Global Asthma Drugs Market Competitive Benchmarking
33. Global Asthma Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Asthma Drugs Market
35. Asthma Drugs Market Future Outlook and Potential Analysis
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