Asthma Treatment Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Asthma Treatment Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Global asthma treatment market will witness an impressive growth during the forecast period, 2024-2028. This can be ascribed to the increasing prevalence of asthma, growing R&D activities and increasing investment in healthcare infrastructure. Asthma is one of the major public health problem in many countries, particularly in the United States. The high burden of the disease has created a strong demand for effective Asthma Treatment. This has led to significant investment in the development of medications that can prevent Asthma Infection or reduce its severity. The World Health Organization (WHO) estimates that asthma affects around 235 million people worldwide and is responsible for approximately 383,000 deaths annually.

Biologic medications, also known as immunomodulators, are a new class of drugs that target specific molecules involved in the immune response. Examples of biologic medications used for asthma include omalizumab, mepolizumab, and benralizumab. These medications reduce the frequency and severity of asthma exacerbations in patients with severe, uncontrolled asthma. There is growing interest in the use of digital health technologies, such as mobile apps and wearable devices, for the management of asthma. These tools may help patients to monitor their symptoms, track their medication use, and receive personalized treatment recommendations.

Governments and private agencies often run public awareness campaigns to educate people about the causes, symptoms, and treatment of asthma. These campaigns include social media campaigns, television and radio ads, and educational materials such as brochures and pamphlets. This increases awareness among people and results in the growth of global asthma treatment market.

Private agencies may engage in advocacy and lobbying efforts to promote policies and initiatives that support asthma treatment and management. This can include efforts to improve insurance coverage for asthma medications, increase funding for asthma research, and promote clean air initiatives to reduce asthma triggers. As the private agencies make people aware this increases the global asthma market.

Increasing Prevalence of Asthma

The growing prevalence of asthma is one of the key drivers of the global asthma treatment market. Asthma is a chronic respiratory condition that is caused by a combination of genetic and environmental factors, which is transmitted to humans through genetics, environmental factors, respiratory infection, obesity, and stress. Global Asthma Report 2018 predicts that asthma will continue to be a significant global health concern, with an increasing burden in low- and middle-income countries. The report notes that without significant improvements in prevention, diagnosis, and treatment, the number of asthma-related deaths may increase by 20% by 2030. The growing prevalence of asthma has led to increased public awareness of the condition. This has helped to reduce stigma around the condition and promote better understanding of the need for effective treatment and management. According to Global Asthma Report 2018, an estimated 339 million people worldwide were affected by asthma in 2016. As the prevalence of asthma increases, there is a greater need for healthcare infrastructure to support the diagnosis and treatment of the condition. This can lead to increased investment in healthcare systems, including the development of new clinics, hospitals, and other healthcare facilities. The World Health Organization (WHO) reports that there has been an increase in public awareness about asthma globally in recent years, which has helped to reduce stigma around the condition and promote better understanding of the need for effective treatment and management.

The growing prevalence of asthma drives research and development in the field of asthma treatment. As more people are diagnosed with asthma, there is a greater need for new and more effective treatments to manage the condition.

Providing Access to Healthcare

Providing access to healthcare is essential for promoting the global asthma treatment market. Asthma is a chronic condition that requires ongoing management and treatment, including regular monitoring, medication, and follow-up care. People with asthma who do not have access to healthcare may not receive appropriate treatment, which can lead to serious complications, such as hospitalization, emergency room visits, and even death. According to the Global Asthma Report 2018, asthma is estimated to have caused 461,000 deaths globally in 2016.

Access to healthcare can promote the global asthma treatment market in several ways. Firstly, it can help to identify people with asthma early, allowing for prompt diagnosis and treatment. This can prevent the development of more severe asthma symptoms and reduce the need for emergency care. Additionally, healthcare providers can provide education and support people with asthma, helping them to understand their condition and manage their symptoms effectively. In the United States, it is estimated that around 25 million people have asthma, and many of these are diagnosed in childhood due to access to healthcare and regular monitoring of respiratory health.

Access to healthcare can ensure that people with asthma have access to appropriate medications and treatment options. This can include both short-term medications to manage symptoms as well as long-term medications to prevent asthma attacks from occurring. Access to healthcare can provide people with asthma with the access to specialists, such as allergists or pulmonologists, who can provide more specialized care and treatment. anticipated in the growth of global asthma treatment market.

Increasing Investment in Research and Development

Pharmaceutical companies are investing heavily in research and development to develop new and innovative asthma treatments. Asthma is a complex disease that requires ongoing management and treatment, and there is a need for new and improved treatments to address unmet medical needs. The National Institutes of Health (NIH) in the United States provides over USD 100 million in funding for asthma research each year, supporting research into new treatments, disease mechanisms, and prevention strategies. It can help to identify new drug targets and treatment options for asthma. This can include the development of novel drugs, biologics, or combination therapies that may provide more effective and targeted treatment options for people with asthma.

Investment in R&D can help to improve the understanding of the underlying mechanisms of asthma and identify new biomarkers for diagnosis and monitoring. This can enable more personalized treatment approaches, which may lead to better outcomes and reduced healthcare costs. Investment in R&D can help to improve asthma management and education, leading to better self-management of the disease and reduced healthcare utilization. It can include the development of new devices and technologies for monitoring and managing asthma symptoms, as well as education programs for healthcare providers and patients.

Market Segmentation

Global asthma treatment market can be segmented by drug class, mode of administration, distribution channel, and region. Based on drug class, global asthma treatment market can be divided into short-acting beta-agonists (SABA), long-acting beta-agonists (LABA), inhaled corticosteroids (ICS), leukotriene modifiers, immunomodulators, combination drugs, and others. Based on mode of administration, the global asthma treatment market is divided into inhalers, nebulizers, and oral medications. Based on distribution channel, the global asthma treatment market is divided into hospital pharmacies, retail pharmacies, online pharmacies, and others. Regionally, the global asthma treatment market can be categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Market Players

GlaxoSmithKline, Plc., AstraZeneca Plc, Teva Pharmaceutical Industries Ltd, Boehringer Ingelheim Gmbh, Merck & Co. Inc, Novartis AG, Sanofi SA, Roche Holding AG, Regeneron Pharmaceutical Inc, Pfizer Inc. are some of the leading players operating in the global asthma treatment market.

Report Scope:

In this report, global asthma treatment market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Asthma Treatment Market, By Drug Type:
• Short Acting Beta-Agonists (SABA)
• Long-Acting Beta-Agonists (LABA)
• Inhaled Corticosteroids (ICS)
• Leukotriene Modifiers
• Immunomodulator
• Combination Drugs
• Others
• Asthma Treatment Market, By Mode of Administration:
• Inhalers
• Nebulizers
• Oral Medications
• Asthma treatment Market, By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
• Asthma Treatment Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• Asia Pacific
• India
• Japan
• South Korea
• Australia
• China
• South America
• Brazil
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global asthma treatment market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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