According to Report, the global asthma treatment market size is projected to reach around US$ 30.1 billion by 2027 from US$ 25.8 billion in 2021, growing at a CAGR of 2.6% from 2021 to 2027. Rising prevalence of asthma due to increasing levels of pollution is expected to augment the growth of the market.
According to Report, the global asthma treatment market size is projected to reach around US$ 30.1 billion by 2027 from US$ 25.8 billion in 2021, growing at a CAGR of 2.6% from 2021 to 2027. Rising prevalence of asthma due to increasing levels of pollution is expected to augment the growth of the market.
Get a Free Sample Copy of this Report@ https://www.precedenceresearch.com/sample/1557
| Report Scope | Details |
| Market Size in 2027 | USD 30.1Billion |
| Growth Rate from 2021 to 2030 | CAGR of 2.6% |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
| Largest Market | North America |
Demand for asthma treatment remains strong in 2021. Some sales insight revealing the strong growth of asthma treatmentmarket during the past few years are listed below:
- The global asthma treatment market size is expected to reach at US$32.50 billion by 2030
- North America captured a market share of 42.3% in 2020, while Asia Pacific held the second position accounting for 21.9% of the market share
- Asthma impacts the quality of life of over 23 million Americans
- By medication, the long-term control medication segment accounted for a revenue share of 60.2% in 2020
- By route of administration, the asthma inhalers segment captured a market share of 70.3% in 2020
- The prefilled syringe/vial segment was valued at US$17.27 billion in 2020
- By adjunct therapy, the LABA (long-acting beta antagonists) segment generated a revenue of US$5.67 billion in 2020
- By distribution channel, the online pharmacies segment dominated the market, garnering a market share of 41.9% in 2020
- The hospital pharmacies segment generated a revenue of US$7.85 billion in 2020
- Europe asthma treatment market was valued at US$4.85 billion in 2020
Leading Regions Market Review
Approximately 42.3% of the Global Asthma Treatment Market Captured by North America
US is the leading market in North America. The increased prevalence of asthma in US due to the higher pollution levels. In 2018, 7.7% or around 24.8 million Americans who were ever diagnosed with still had asthma. The asthma prevalence rate in US increased at a rate of 0.1 point annually from 2010 to 2018. The extended exposure to air pollution is one of the major causes of asthma. The prevalence of asthma in male is higher as compared to in females during their childhood.
Asthma is the third most frequent health condition in Canada. It is estimated that 300 Canadians are diagnosed with asthma, every day and around 250 Canadian die due to it. The high healthcare expenditure, high awareness regarding the various asthma management tools and medicines, and the presence of several top asthma treatment drugs in the region are the major factors that has led to the dominance of North America in the global asthma treatment market.
Ask here for customization study@ https://www.precedenceresearch.com/customization/1557
What are the key trends in the Global Asthma Treatment Market?
Strong and robust research and development is being undertaken by the leading market players to develop new, advanced, and innovative asthma therapeutics. The surging investments in the research and development of the asthma therapeutics are expected to offer a lucrative growth opportunity to the market players in the forthcoming years. Asthma is a chronic disease that has affected a huge number of people across the globe including children.
This has encouraged the big pharma companies to develop drugs for asthma. There are various companies that are in the process of development of drugs for treating asthma. For instance, in September 2019, Novartis successfully completed the phase III of IRIDIUM study. Similarly the rising investments in the drug discovery and clinical trials are expected to fuel the market growth during the forecast period.
Ask Here for Customization@ https://www.precedenceresearch.com/customization/1557
What are the key challenges in the Global Asthma Treatment Market?
The prevalence of asthma is growing rapidly in the developing and the developed economies. However, there is a high cost associated with the acquisition of the asthma inhalers which is a major restraint for the market. For instance, the price for Advair (an asthma treating drug) has increased by 56% from 2013 to 2018. The rapidly rising prices of the asthma drugs may hinder the growth of the market. Apart from the high costs, the under diagnosis of asthma is another major challenge for the asthma treatment market. The lack of access to the basic healthcare facilities in the developing and underdeveloped countries results in the under diagnosis of asthma, which further results in poor clinical outcomes for the asthma patients. Therefore, the high costs and under diagnosis are the major challenges that may restrict the growth of the asthma treatment market during the forecast period.
Asia Pacific Forecast the Strongest Growth Rate during the Forecast Year (2021-2030)
Asia Pacific is witnessing an increasing level of air pollution owing to rapid industrialization and rapid urbanization of the region. The government is now focusing on the industrial development to boost the economic development of the nations, which is creating a highly polluted environment. The nations like China, India, Indonesia, and South Korea are experiencing a rising prevalence of asthma among the population including children due to the rising pollution levels, which is expected to drive the growth of the asthma treatment market in Asia Pacific during the forecast period.
Top Asthma Treatment Manufacturers:
AstraZeneca, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Roche Holding AG / Novartis AG, Merck & Co., Inc., Koninklijke Philips N.V., Sanofi-Aventis SA, and MundiPharma are some of the major players in the asthma treatment market.
Some of the key players in the market include:
- AstraZeneca
- Teva Pharmaceutical Industries Ltd.
- GlaxoSmithKline plc
- Boehringer Ingelheim International GmbH
- Roche Holding AG / Novartis AG
- Merck & Co., Inc.
- Koninklijke Philips N.V.
- Sanofi-Aventis SA
- MundiPharma.
Market Segmentations:
By Medication
- Quick-relief medication
- Long-term control medication
By Route of Administration
- Inhalers
- Prefilled syringes/vials
- Others
By Adjunct Therapy
- LAMA (long-acting muscarinic antagonists)
- LABA (long-acting beta antagonists)
- Others
By Distribution Channel
- Online pharmacies
- Hospital pharmacies
- Retail pharmacies & drug stores
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Click Here to View Full Report Table of Contents
Buy this Research Report@ https://www.precedenceresearch.com/checkout/1557
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333