The Asthma Drugs Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Asthma Drugs Global Market Report 2024, 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..
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.
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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
Product innovations are a key trend gaining popularity in the asthma drug market. Major companies operating in the asthma drug market are focused on developing new solutions to sustain their position in the market. For instance, in December 2021, Amgen, a US-based biopharmaceutical company, and AstraZeneca, a UK-based biopharmaceutical company, received FDA approval for their injectable drug Tezpire to alleviate the symptoms of asthma. The drug Tezpire helps to sto2p the inflammation that causes asthma attacks and has the potential to treat a wide range of people with severe asthma, including patients who have lacked effective treatment options in the past. The drug is the first and only biologic to reduce asthma-related exacerbations in Phase 2 and 3 clinical trials. significantly and consistently. The approval of Tezpire will enable greater benefits for this medicine for patients owing to the rising number of asthma cases.
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 analysis
5.Asthma Drugs Market Size And Growth
6.Asthma Drugs Segmentation
7.Asthma Drugs Regional And Country Analysis
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27.Asthma Drugs Competitive Landscape And Company Profiles
28.Asthma Drugs Key Mergers And Acquisitions
29.Asthma Drugs Future Outlook and Potential Analysis
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