According to latest report, the global asthma therapeutics market size was USD 27.19 billion in 2023, calculated at USD 28.66 billion in 2024, and is expected to reach around USD 45.96 billion by 2033, expanding at a CAGR of 5.39% from 2024 to 2033. North America dominated the market and accounted for a share of 51.00% in 2023.
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The global asthma therapeutics market is experiencing significant growth, driven by the increasing prevalence of asthma and the rising demand for effective treatment options. Asthma, a chronic respiratory condition characterized by airway inflammation and bronchoconstriction, affects millions worldwide, leading to substantial healthcare costs and impacting the quality of life of patients. The market encompasses a wide range of products, including inhalers, nebulizers, biologics, and oral medications, aimed at managing symptoms and preventing asthma attacks.
The rising incidence of asthma globally, attributed to factors such as urbanization, pollution, and lifestyle changes, is a major driver for the asthma therapeutics market. According to the World Health Organization (WHO), asthma affects approximately 235 million people worldwide, with a significant number of new cases reported annually.
Enhanced awareness campaigns and improved diagnostic techniques are leading to earlier and more accurate detection of asthma, increasing the patient pool eligible for therapeutic interventions. Healthcare organizations and governments are actively promoting asthma management and prevention strategies.
Asthma Therapeutics Market Key Takeaways
- North America dominated the market and accounted for a share of 51.00% in 2023.
- The anti-inflammatory segment led the market and accounted for a revenue share of 62.77% in 2023
- The combination therapy segment is expected to register the fastest CAGR from 2024 to 2033.
- The inhalers segment accounted for the largest revenue share in 2023.
- The inhaled route of administration segment led the industry in 2023.
- The inhaled route of administration segment accounted for the largest revenue share 48.00 in 2023.
- The oral segment is projected to witness the highest growth rate from 2024 to 2033.
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U.S. Asthma Therapeutics Market Size and Growth 2024 to 2033
The U.S. asthma therapeutics market size was estimated at USD 10.90 billion in 2023 and is projected to hit around USD 18.46 billion by 2033, growing at a CAGR of 5.41% during the forecast period from 2024 to 2033.
North America dominated the market and accounted for a share of 51.00% in 2023. This is due to the strong presence of major key players, well-established infrastructure, and increasing prevalence of diseases in the region. For instance, asthma affects more adult women than adult men in the U.S. According to the CDC’s 2020 report, approximately 25 million people in the U.S. were reported to have asthma. In addition, according to the Asthma and Allergy Foundation of America (AAFA), around 5 million children in the U.S. are asthmatic. Furthermore, rising air pollution, increasing geriatric population, and growing demand for fast-acting & high efficacy drugs are a few other factors propelling market growth in North America.
Asia Pacific is anticipated to witness significant growth due to improving healthcare reforms. Other factors contributing to market growth include rising geriatric population, entry of new players, growing healthcare expenditure, and high awareness about lung diseases. In Southeast Asia, asthma is reported as one of the most common non-communicable diseases and is responsible for nearly 73% of the visits to outpatient clinics. This creates a wide target population pool for effective therapeutics.
Asthma Therapeutics Market Dynamics
Driver:
Rising awareness about diagnosis
Asthma affects millions of individuals worldwide, and its prevalence is on the rise, particularly in urban areas. The growing number of asthma cases is a major driver for the demand for effective therapeutic solutions. Increased awareness about asthma symptoms and the importance of early diagnosis is leading to more individuals seeking medical attention. Educational campaigns and improved healthcare infrastructure are contributing to higher diagnosis rates.
Restraint:
High cost of medication
The high cost of asthma medication and treatment options can be prohibitive for many patients, particularly in low-income regions. This economic barrier limits patient access to necessary therapies, leading to suboptimal asthma management and potentially higher healthcare costs in the long run due to exacerbations and hospitalizations.
Opportunity:
Collaborative activities
Collaborations between pharmaceutical companies, research institutions, and healthcare providers can accelerate the development of novel therapies and improve clinical outcomes. Joint ventures and strategic alliances focused on research, clinical trials, and data sharing can lead to groundbreaking advancements in asthma therapeutics. Focusing on patient-centric approaches, including improving patient experience, enhancing accessibility to therapies, and addressing unmet needs, can differentiate companies in the competitive asthma therapeutics market. Developing support programs and resources for patients and caregivers can foster loyalty and trust.
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Asthma Therapeutics Market Segmentation Insights
By Drug Class Insights
The anti-inflammatory segment led the market and accounted for a revenue share of 62.77% in 2023 owing to the introduction of affordable and innovative anti-inflammatory biologics to treat severe asthmatic patients.For instance, in April 2021, the FDA approved Xolair, a biologic, to treat moderate to severe persistent allergic asthma, Chronic Idiopathic Urticaria (CIU), and nasal polyps. It is specifically designed to target and block IgE. Furthermore, collaborations between pharmaceutical companies, research institutions, and healthcare organizations are driving R&D efforts in the market. These partnerships facilitate the discovery and commercialization of novel anti-inflammatory drugs, further propelling segment growth. For instance, in March 2023, Propeller Health and UC Davis Health announced a partnership to provide personalized medicine for patients at high risk of Chronic Obstructive Pulmonary Disease (COPD) and asthma.
The combination therapy segment is expected to register the fastest CAGR from 2024 to 2033. Combination therapy involves using two medications that target inflammation and bronchoconstriction, two key components of asthma pathophysiology. Adoption of combination therapy is driven by its efficacy compared to other drug combinations, ease of use, and improved patient compliance. In addition, the availability of several fixed-dose combination inhalers has made combination therapy more convenient for patients, further contributing to its higher adoption. For instance, in June 2022, Glenmark Pharmaceuticals Limited introduced a new fixed-dose combination drug, Indamet, in India for uncontrolled asthma. As a result of these factors, combination therapy is expected to dominate the market in the coming years.
By Product Insights
The inhalers segment accounted for the largest revenue share in 2023. This can be attributed to several factors, such as their reliability, versatility, portability, and cost-effectiveness. Moreover, increasing prevalence of asthma & COPD and growing need for emergency treatment alternatives against sudden attacks have contributed to a significant market share of inhalers. The inhalers segment is expected to grow further due to the development of advanced products. For instance, in September 2020, GSK Plc. and Innoviva's triple therapy inhaler, Trelegy Ellipta, was approved in the U.S. for treating asthma and COPD. The nebulizers segment is expected to register the fastest CAGR from 2024 to 2030.
One of the primary drivers is ease of use, making nebulizers particularly suitable for children, elderly patients, and severe asthmatic patients who struggle with inhaler techniques. Moreover, an increase in the adoption of nebulizers in home healthcare and emergency medicine due to associated benefits, such as greater comfort, administration of large dosages facilitating sustained results, and favorable reimbursement scenarios, is expected to drive market growth. Furthermore, continuous advancements in nebulizer technology, such as portable and handheld devices, increase patient compliance and convenience. For instance, in July 2020, OMRON Corporation launched OMRON NE C106, a compressor nebulizer designed to deliver medication directly to the lungs in the form of a mist.
By Route of Administration Insights
The inhaled route of administration segment accounted for the largest revenue share 48.00 in 2023. The inhaled route of administration is considered to be most effective way of treatment as it allows for targeted delivery of medication to the site of inflammation in the airways. The inhaled route of administration is preferred over oral or injectable routes as it minimizes adverse effects and maximizes therapeutic outcomes. In addition, new product launches and approvals are expected to play a significant role in driving the segment growth. For instance, in July 2023, Viatris, Inc. launched Breyna Inhalation Aerosol, an FDA-approved generic version of Symbicort for asthmatic and COPD patients in the United States.
The oral segment is projected to witness the highest growth rate from 2024 to 2033. The oral route of administration is the most common and convenient method of drug delivery for therapeutics. Oral medications are taken by mouth and absorbed into the bloodstream through the digestive system. This route of administration is well-tolerated and easy to use, making it a popular choice for patients and healthcare providers. Oral medications are easy to take and can be administered at home without requiring specialized equipment or training. The convenience, efficacy, and versatility of oral medications make them a valuable tool for managing asthma, which is expected to boost segment growth.
Asthma Therapeutics Market Concentration & Characteristics
Market growth stage is high, and the growth pace is accelerating. Asthma therapeutics market is characterized by a high degree of innovation owing to rapid technological advancements and launch of novel products by key players. For instance, in September 2023, AstraZeneca's Tezspire (tezepelumab) received approval in the EU for severe asthma in patients aged 12 years and older, inadequately controlled with high-dose inhaled corticosteroids.
The market is also characterized by a high level of strategic initiatives, such as collaborations and partnerships, by leading players. For instance, in March 2023, Teva Pharmaceuticals and Rimidi collaborated to implement a respiratory patient monitoring program at California’s Desert Oasis Healthcare using data from Teva’s Digihaler System. The Digihaler, a smart inhaler system, offers objective data for disease management.
The threat of internal substitutes, specifically novel biologics, such as monoclonal antibodies, pose a challenge. Ongoing technological advancements in devices and continuous R&D efforts are expected to replace conventional products with newer alternatives. However, absence of external substitutes in current market scenario contributes to an overall low threat of substitutes.
The concentration of end-users plays a crucial role in this market. Global adoption of therapeutics is on the rise, driven by increasing availability and accessibility of healthcare facilities and services. The market is further propelled by enhanced affordability of therapeutics and rising number of government initiatives & awareness programs.
Asthma Therapeutics Market Recent Developments
- In September 2023, AstraZeneca's Fasenra (benralizumab) showed significant remission rates compared to mepolizumab in patients with Eosinophilic Granulomatosis with Polyangiitis (EGPA) in the MANDARA Phase III trial, indicating a potential treatment option
- In July 2023, Teva Pharmaceuticals and Alvotech strengthened their partnership, enabling Teva's exclusive commercialization of new biosimilars in the U.S. Teva would acquire USD 40 million in convertible bonds to support Alvotech's pipeline development
- In January 2023, AstraZeneca's Tezspire (tezepelumab) received CHMP's positive opinion for self-administration in a prefilled pen for severe asthma in patients aged 12 years & older, offering increased flexibility and convenience
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Key Asthma Therapeutics Company Insights
Some of the key players operating in market include Teva Pharmaceutical Industries Ltd, GSK plc, Merck & Co., Inc. and Koninklijke Philips N.V.
- In March 2023, Teva Pharmaceuticals and Rimidi collaborated to implement a respiratory patient monitoring program at California’s Desert Oasis Healthcare using data from Teva’s Digihaler System. The Digihaler, a smart inhaler system, offers objective data for asthma management
- In January 2023, AstraZeneca's Tezspire (tezepelumab) received CHMP's positive opinion for self-administration in a prefilled pen for severe asthma in patients aged 12 years & older, offering increased flexibility and convenience
CHIESI USA, Inc. and Areteia Therapeutics are some of the emerging market participants in the asthma therapeutics market.
- In August 2023, Areteia Therapeutics announced results from Phase 2 EXHALE-1 study which demonstrated that the drug could reduce the count of blood eosinophil. In addition, In July 2022, Areteia Therapeutics raised USD 350 million funding to create oral asthma treatment for eosinophilic asthma patients
- In October 2022, CHIESI USA, Inc. and Aptar Digital Health announced a strategic partnership to offer asthma and COPD patients a disease management platform. The platform developed by Aptar Digital Health aims to improve the quality of life of patients with respiratory diseases. The initiative would lead to high adoption and demand for therapeutic regimes
Asthma Therapeutics Market Top Key Companies:
- Teva Pharmaceutical Industries Ltd.
- GSK plc
- Merck & Co., Inc.
- F. Hoffmann-La Roche Ltd
- AstraZeneca
- Boehringer Ingelheim International GmbH
- Sanofi.
- Koninklijke Philips N.V.
- BD
- Covis Pharma
Asthma Therapeutics Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Asthma Therapeutics market.
By Drug Class
- Anti- inflammatory
- Bronchodilators
- Combination Therapy
By Product
- Inhalers
- Dry Powder
- Metered Dose
- Soft Mist
- Nebulizers
By Route of Administration
- Oral
- Inhaled
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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