Asthma Treatment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Asthma Treatment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Asthma Treatment Market By Drug Class (Inhaled Corticosteroids, Systemic Corticosteroids, Short-Acting Bronchodilators, Long-Acting Bronchodilators, Antimuscarinics, Leukotriene Inhibitors, Biologicals Others), Route Of Administration (Oral, Inhaled, Injectable), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a significant cagr forecast till 2030 owing to the growing prevalence of asthma and rise in smoking habits and air pollution.

The global asthma treatment market was valued at USD 23.92 billion in 2023, growing at a CAGR of 4.21% during the forecast period from 2024 to 2030 to reach USD 31.83 billion by 2030. The need for asthma treatment is primarily being propelled by the growing prevalence of asthma cases. A rise in smoking habits and air pollutions affect the lung function resulting in development of asthma, which resulting in growing need for asthma treatment. Furthermore, government organizations and agencies are actively increasing asthma treatment awareness in less developed countries. Through focused efforts, they aim to educate people about asthma management, bridging critical gaps in access to care and empowering individuals to seek timely treatment for better health outcomes. These are some of the key factors that are responsible in contributing to the positive growth of the asthma treatment market during the forecast period from 2024 to 2030.

Asthma Treatment Market Dynamics:

According to World Health Organization (WHO) 2024, estimated 262 million people were suffered from asthma in 2019. In 2021, European Commission published a data, stated that in 2019, asthma impacted nearly 6% of the European Union populace, showing a slight uptick compared to 2014. Among EU member states, Finland ranked highest, with 9% of individuals reporting asthma, trailed closely by Germany and France, each at 8%.

According to Australian Bureau of Statistics in December 2023, the prevalence of asthma is increased from 2.7 million people in 2021 to 2.8 million in 2022. In general, females exhibited a higher propensity for asthma compared to males, with a prevalence rate of 12.2% versus 9.4%.

A rise in smoking habits and air pollution is also contributing to development of asthma due to accumulation of foreign particles resulting in inflammation airway passages. Even minimal exposure to secondhand smoke, which contains thousands of chemicals, can trigger a severe asthma attack. For instance, in 2022, according to research study published in National Institute of Health, stated that exposure to smoking elevated the likelihood of childhood asthma incidence by 33%. Such incidence of asthma requires drug treatment, which in turn, propel the market growth.

In April 2019, according to Lancet Planetary Health journal, a recent study reveals that vehicle emissions contribute to approximately 4 million cases of childhood asthma annually, equating to an influx of 11,000 new cases daily.

Additionally, government organization are making their efforts to make people aware of asthma treatment through findings and public health programs. In March 2022, Australian Federal Government provided funding of AUD 8.4 million (USD 5.6 million) to deliver essential services aimed at aiding individuals with asthma and their caregivers in enhancing asthma management.

Therefore, as per the factors mentioned above, there will be an increased need for anti-asthmatic drugs, thereby positively accelerating the market for asthma treatment during the forecast period 2024 to 2030.

However, adverse effects of asthma drug and high cost of medicines, among others are some of the key constraints that may limit the growth of the asthma treatment market.

Asthma Treatment Market Segment Analysis:

Asthma Treatment Market by Drug Class (Inhaled Corticosteroids, Systemic Corticosteroids Short-Acting Bronchodilators, Long-Acting Bronchodilators, Antimuscarinics, Leukotriene Inhibitors, Biologicals Others), Route of Administration (Oral, Inhaled, Injectable), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the drug class segment of the asthma treatment market, the short-acting bronchodilators category is estimated to hold a significant revenue share in the asthma treatment market in 2023. This is attributed to the wide use of short-acting bronchodilators in the asthma treatment such as Albuterol and Levalbuterol. Albuterol, widely prescribed as Albuterol metered-dose inhaler and Levalbuterol, represents the predominant medications within this area. Albuterol is typically administered in response to acute episodes of breathlessness, wheezing, chest constriction, and coughing in individuals afflicted with acute asthma.

In January 2023, AstraZeneca plc, announced the approval of AIRSUPRA (albuterol/budesonide) for the treatment of asthma in the United States. This drug is used for treated of asthma for the people aged 18 or above. AIRSUPRA is a pioneering pressurized metered-dose inhaler (pMDI), presenting a unique fixed-dose combination rescue solution. It comprises albuterol, recognized as a short-acting beta2-agonist (SABA), alongside budesonide, an inhaled corticosteroid (ICS) with anti-inflammatory properties, exclusively available in the United States.

In April 2024, Teva Pharmaceutical Industries Ltd. and Launch Therapeutics, Inc., have entered into a clinical collaboration agreement to expedite the clinical research program for development of TEV-'248. The collaboration harnesses Teva’s proficiency in respiratory technology advancement alongside Launch Therapeutics’ pioneering late-stage drug development approach to advance Teva’s Dual-Action Asthma Rescue Inhaler (TEV-'248) program.

Therefore, the advantage of short-acting bronchodilators in sudden asthma episodes will contribute to the growth of the segment, thereby driving the growth of the overall asthma treatment market during the forecast period.

North America Is Expected To Dominate The Overall Asthma Treatment Market:

North America is estimated to account for largest market share in the asthma treatment market in 2023 due to high prevalence of asthma and presence of major market players in the region. These are some of the key factors driving the growth of the asthma treatment market in North America.

According to Asthma and Allergy Foundation of America in 2022, in the United States, asthma was a significant health concern affecting over 22 million adults aged 18 and older. Among demographic groups, American Indian or Alaska Native adults were exhibit the highest rates of asthma. Additionally, asthma was more prevalent among adult females than males, with around 10.8% of females affected compared to 6.5% of males. This respiratory condition also poses a substantial burden on children, emerged as a leading chronic disease among them. Approximately 4.5 million children under the age of 18 in the U.S. were diagnosed with asthma, underscoring the importance of targeted interventions and comprehensive management strategies to address this widespread health issue.

Key player operating in the region are extensively focusing on R&D to develop and commercialize innovative therapies for treatment of asthma. For instance, in December 2021, Amgen Inc. and AstraZeneca have announced that the U.S. Food and Drug Administration (FDA) granted approval for TEZSPIRE (tezepelumab-ekko). This medication is indicated as an additional maintenance treatment for severe asthma in adult and pediatric patients aged 12 years and older.

Asthma Treatment Market Key Players:

Some of the key market players operating in the asthma treatment market include AstraZeneca, GSK plc, Novartis AG, Genentech, Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., adherium, Amgen Inc., Viatris Inc., Pfizer Inc., Sanofi, Landos Biopharma, Regeneron Pharmaceuticals Inc., InCarda Therapeutics, Inc., Sunovion Pharmaceuticals Inc., Ribon Therapeutics, Liquidia Corporation, Pulmocide, Nephron Pharmaceuticals Corporation, and Avalyn Pharma Inc. and others.

Recent Developmental Activities In The Asthma Treatment Market:

In January 2024, GSK plc, announced that the China National Medical Products Administration (NMPA) has granted approval for Nucala (mepolizumab) as an additional maintenance therapy for severe eosinophilic asthma in adults and adolescents aged 12 years and above.

In July 2023, Hormosan Pharma GmbH, a subsidiary of Lupin based in Germany, has launched the release of Luforbec. This is a fixed combination medication available in a pressurized metered dose inhaler (pMDI), comprising beclometasone and formoterol. It is intended for the management of adult asthma and chronic obstructive pulmonary disease (COPD) in the Germany.

In January 2023, Landos Biopharma share its clinical development pipeline mentioning that LABP-73 which is a novel NLRX1 agonist is under development for the treatment of asthma and COPD.

In February 2021, CHIESI Farmaceutici S.p.A. announced that the European marketing authorization has been granted for Trimbow (beclometasone dipropionate, formoterol fumarate, glycopyrronium), representing an extrafine formulation of a fixed triple combination therapy developed for asthma treatment.

Key Takeaways From The Asthma Treatment Market Report Study

Market size analysis for current Asthma Treatment Market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Asthma Treatment market.

Various opportunities available for the other competitors in the Asthma Treatment Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Asthma Treatment market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Asthma Treatment market growth in the coming future?

Target Audience Who Can Be Benefited From This Asthma Treatment Market Report Study

Asthma Treatment product providers

Research organizations and consulting companies

Asthma Treatment related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Asthma Treatment

Various end-users who want to know more about the Asthma Treatment Market and the latest technological developments in the Asthma Treatment Market.

Frequently Asked Questions For The Asthma Treatment Market:

1. What are Asthma Treatment?

Asthma treatment entails a suite of strategies and interventions focused on mitigating and regulating symptoms associated with asthma. This involves administration of inhalers, oral medications, and systemic drugs to alleviate inflammation and enhance functionality of lungs to ease breathing alongside implementing lifestyle adjustments and trigger avoidance measures.

2. What is the market for Asthma Treatment?

The global asthma treatment market was valued at USD 23.92 billion in 2023, growing at a CAGR of 4.21% during the forecast period from 2024 to 2030 to reach USD 31.83 billion by 2030.

3. What are the drivers for the global Asthma Treatment market?

The need for asthma treatment is primarily being propelled by the growing prevalence of asthma cases. A rise in smoking habits and air pollutions affect the lung function resulting in development of asthma, which resulting in growing need for asthma treatment. Furthermore, government organizations and agencies are actively increasing asthma treatment awareness in less developed countries are some of the key factors resulting in appreciable revenue growth in the Asthma Treatment Market during the forecast period (2024 to 2030).

4. Who are the key players operating in the global Asthma Treatment market?)

Some of the key market players operating in the asthma treatment include AstraZeneca, GSK plc, Novartis AG, Genentech, Inc., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., adherium, Amgen Inc., Viatris Inc., Pfizer Inc., Sanofi, Landos Biopharma, Regeneron Pharmaceuticals Inc., InCarda Therapeutics, Inc., Sunovion Pharmaceuticals Inc., Ribon Therapeutics, Liquidia Corporation, Pulmocide, Nephron Pharmaceuticals Corporation, , and Avalyn Pharma Inc.

5. Which region has the highest share in the global Asthma Treatment market?

North America is estimated to account for largest market share in the asthma treatment market in 2023 due to high prevalence of asthma and presence of major market players in the region. These are some of the key factors driving the growth of the asthma treatment market in North America.