Authors of the report opine that, the asthma treatment market will grow at a slow, yet steady pace, as long-term asthma control medications will bring continuous sales opportunities.
Asthma Treatment Market: Analysts’ View
Authors of the report opine that, the asthma treatment market will grow at a slow, yet steady pace, as long-term asthma control medications will bring continuous sales opportunities. Hospital pharmacies with the ability to maintain large inventories with essential drugs are likely to remain crucial; however, an increasing number of retail pharmacies, coupled with their easy accessibility, will drive significant revenue to the asthma treatment market. As the healthcare industry braces itself to embrace digitalization, online pharmacies will overcome the limitations of physical exposure in overseas territories.
Asthma Treatment Market: Key Insights
- Long-term asthma control medications and quick-relief (rescue) medications are the two types of drugs used to treat asthma.
- Rescue inhalers and controller inhalers are used to treat the symptoms of asthma. However, to manage severe asthma cases, longer-acting inhalers are required, which can keep the airways open (formoterol, salmeterol, tiotropium) as well as be used as inhalant steroids.
- Major types of long-term asthma control medications include combination inhalers, inhaled corticosteroids, long-acting beta agonists, leukotriene modifiers, theophylline, and others (reslizumab, benralizumab, etc.).
- The combination inhalers sub-segment dominated the long-term asthma control medications segment in the asthma treatment market in 2018. The growth of this sub-segment can be attributed to the increase in the demand for combination inhalers, and promising drugs in the pipeline of the market.
- The global asthma treatment market covers all drug types for different routes of administration to treat asthma in patients. Several drug companies are focusing on the development of promising drug molecules to improve treatment measures, which are beneficial for patients, by collaborating with research institutes and others companies. These factors are projected to drive the market during the forecast period.
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Asthma Treatment Market: Drivers
- Asthma prevalence has been increasing despite advancements in treatment in the past two decades. Due to this, the global asthma treatment market is also expanding. Asthma prevalence ranges from 3% to 5% in developing countries, to less than 20% in developed countries, affecting people of all ages.
- Focus on spreading awareness about asthma treatment, including common treatment options such as pressurized meter dose inhalers and dry powder inhalers, is fueling the global market.
- Increase in the success rate of asthma treatment using combination therapy, such as long-acting muscarinic antagonist-inhaled corticosteroid (LAMA-ICS), long-acting β2-agonist-inhaled corticosteroid (LABA-ICS), and other combination drugs, and recent regulatory approvals have propelled the adoption of combination therapy in the global asthma treatment market.
- Rising focus on smart or digital inhalers for the administration of asthma drugs is driving the global market.
- The asthma treatment market is anticipated to be driven by increase in product approvals by the FDA and other regulatory bodies, rise in the prevalence of asthma, and strategic approaches such as collaborations & partnerships by market players. Rise in the opportunities for market players to expand their geographical presence in emerging countries will fuel the growth of the global asthma treatment market.
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Asthma Treatment Market: Key Segments
- The global asthma treatment market has been segmented based on treatment type, route of administration, and distribution channel.
- Under treatment type, the global market is dominated by the long-term asthma control medications segment, which will continue over the forecast period.
- Under distribution channel, the global market is dominated by the retail pharmacies segment, which is expected to continue through the forecast period.
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Asthma Treatment Market: Key Regions
- In terms of region, the global asthma treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been further divided into major countries and sub-regions.
- North America holds a major share of the global market, while Asia Pacific is projected to expand at the highest CAGR over the forecast period.
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Asthma Treatment Market: Major Players
- The global asthma treatment report concludes with the company profiles section that includes key information about the major players in the market.
- Leading players analyzed in the report are
- Mylan N.V.
- AstraZeneca plc.
- Boehringer Ingelheim International GmbH
- F. Hoffmann-La Roche Ltd
- GlaxoSmithKline plc.
- Merck & Co., Inc.
- Novartis AG
- Sanofi
- Sunovion Pharmaceuticals, Inc.
- Teva Pharmaceutical Industries
- Each of these players have been profiled in the global market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.
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