Asthma Treatment Market

Asthma Treatment Market Outlook (2023 to 2033)

Global demand for asthma treatment is forecasted to register an increase at 3.2% CAGR from 2023 and 2033, currently accounting for a market value of US$ 25.8 billion. By the end of 2033, the global asthma treatment market is projected to reach a revenue of US$ 35.4 billion.

In recent years, the prevalence of chronic disorders has increased noticeably and this trend has resulted in high demand for novel treatments and therapies to treat these chronic disorders, which is a prime factor that is expected to boost asthma treatment demand in the future. Increasing air pollution, poor lifestyle choices resulting in a weak immune system, high incidence of psychological disorders, high incidence of asthma in young people, and rising investments in research and development of new asthma medicines are other aspects that could bolster demand for asthma care through 2033.

Rising investments in medical research and supportive initiatives by the government to bolster healthcare infrastructure development are also anticipated to have a positive impact on the sales of medicine for asthma cough and other asthma symptoms.

• In June 2022, The National Institutes of Health announced the launch of a new trial to explore monoclonal antibody treatment of asthma in young people. The clinical trial was launched to explore the use of dupilumab to improve lung function and reduce the frequency of asthma attacks among children living in low-income urban neighborhoods.

The high ubiquity of respiratory disorders and asthma has resulted in increased demand for breathing difficulty treatments and this is why many pharmaceutical and biotechnology companies have invested in the development and launch of new asthma therapeutics. These companies are now getting approvals from regulatory authorities to commercialize novel treatments and asthma medicine to help people around the world.

• In March 2022, the United States Food and Drug Administration (FDA) announced the approval of a generic drug-device combination product for the treatment of asthma in patients six years of age or older and chronic obstructive pulmonary disease (COPD) as well.

On the flip side, lack of adherence to asthma treatment and high costs of asthma care products and medications are anticipated to have a restraining effect on the market growth across the forecast period. The use of biologics to treat asthma is a trend that is anticipated to open up new avenues of opportunities for incoming asthma treatment companies as well as established market players going forward.

This latest asthma treatment market research survey by Fact.MR, a market research and competitive intelligence provider, details a comprehensive account of trends such as global demand, product standards, new developments, local supply, etc., to provide a realistic current and forecasted assessment of the marketplace.

Report Attributes	Details
Asthma Treatment Market Size (2023)	US$ 25.8 Billion
Projected Market Value (2033F)	US$ 35.4 Billion
Global Market Growth Rate (2023 to 2033)	3.2% CAGR
North America Market Share (2022)	~40%
Long-term Asthma Control Medications Segment Market Share (2022)	>50%
Online Pharmacies Segment Market Growth Rate (2023 to 2033)	3.7% CAGR
Key Companies Profiled	Boehringer Ingelheim International GmbH Teva Pharmaceutical Industries Ltd. AstraZeneca Merck & Co. Inc. Novartis AG Sanofi F. Hoffmann-La Roche Ltd. Sumitomo Dainippon Pharma Co. Ltd. Mylan N.V. GlaxoSmithKline Plc

How Can Start-ups Transform the Asthma Care Industry?

“New Companies Focusing on Asthma Management to Revolutionize Asthma Care”

New asthma treatment companies are focusing on developing new and innovative asthma management solutions to help patients take better care of themselves. These new solutions are also helping healthcare professionals in obtaining better information on a patient’s condition and health.

• Redecol Ltd., a start-up founded in 2017 and located in the United Kingdom is creating novel sensor technology that helps in asthma management and monitoring. The breath sensors developed by this company analyze the breath profile to identify potential asthma attacks and also provides insights into lung performance. The sensor also tracks the incidence of these asthma attacks to enable proactive patient care.
• Strados Labs, a United States-based start-up develops an RESP (Remote E- Stethoscope Platform) that helps medical professionals in the treatment of respiratory disorders. The E-stethoscope is a wearable device that is capable of recording crucial data and then uploading it to the cloud for doctors to access.

More new developments by start-ups and their impact on supply chain management have been detailed in this recently updated Fact.MR research analysis.

Country-wise Insights

Which Factors are Crucially Shaping Asthma Care Demand in Asian Countries?

“Growing Air Pollution and Rising Availability of Asthma Medications”

Rapid urbanization and industrialization in the Asia Pacific region have resulted in increased air pollution in most Asian countries and this is expected to be a prime factor contributing to the high prevalence of asthma among Asian people. India, China, Japan, and Korea are projected to be the key markets for asthma care providers in the future owing to rising awareness regarding the symptoms of asthma and other chronic obstructive pulmonary diseases (COPDs).

Generic asthma drugs, over-the-counter asthma medications, and asthma breathing machines are expected to be some popular products that could witness a hike in demand throughout the forecast period. Homeopathy medicine for asthma and herbs for asthma treatment are also anticipated to be in demand in the aforementioned Asian countries owing to rising awareness regarding the benefits of traditional medicine.

How Will Demand for Asthma Treatment Fare in Europe?

“Adoption of Novel Asthma Treatment & Therapeutics in the Region”

Europe is projected to emerge as the second-most lucrative regional market for asthma treatment across the forecast period owing to the rising incidence of asthma among children in several European countries. High investments in infrastructure development are boosting the adoption of new asthma therapeutics and novel treatments for asthmatics in countries such as the United Kingdom, Germany, and France.

It is estimated that nearly 30 million people are affected by asthma in the European region. The rising prevalence of psychological disorders, growing air pollution, and increasing pet ownership are other factors that are projected to propel the demand for OTC asthma medications, nebulizer medicines, cough medicines, medication for wheezing, asthma spacers, etc. over the next ten years in European countries.

Why are Asthma Treatment Providers Eyeing the United States?

“High Prevalence of Asthma Driving Demand for Asthma Care”

The United States is the most lucrative market for asthma treatment providers in the North American region owing to the high incidence of asthma and growing awareness regarding novel asthma therapeutics. High investments in asthma research, the launch of novel asthma treatment products by established companies, favorable reimbursement policies, and high healthcare expenditure are other aspects that could bolster demand for asthma treatment in the country across the forecast period.

• As per the statistics provided by the Asthma and Allergy Foundation of America, nearly 25 million people in the United States suffer from asthma, which equated to around 1 in 13 people. Black adults in the country account for the highest rate of asthma.

Increasing support from the government to develop novel treatments for asthma and the rising frequency of approval for new asthma therapeutics by the Food and Drug Administration of the United States (FDA) are other factors that are estimated to create new opportunities for established as well as upcoming asthma treatment providers in the country.

Category-wise Insights

Which Treatment is Generally Preferred for Treating Asthma?

“Long-term Asthma Control Medications to Account for Significant Market Share”

Based on treatment, the market for asthma treatments is segmented into long-term asthma control medications and quick-relief (rescue) medications.

Most chronic ailments are often treated with long-term medications and this is true in the case of asthma as well, which is projected to result in high demand for long-term asthma control medications across the forecast period. Asthma exacerbations are prevented by using controlled medications over a long period that help in the reduction of inflammation.

Long-acting inhalers are projected to be the most popular long-term asthma control medications over the next ten years owing to rising awareness regarding their efficacy in the treatment of the condition. Long-term asthma control medications accounted for more than 50% share of the global market in 2022.

Quick-relief medications or rescue medications are used for the treatment of short breaths, wheezing, coughing, etc., which are acute symptoms of asthma that require immediate care. The quick-relief (rescue) medications segment is further bifurcated into short-acting beta-agonists, Ipratropium (Atrovent), and oral & intravenous corticosteroids.

Competitive Landscape

Prime asthma treatment companies are focusing on launching new treatment drugs to maximize their sales potential and gain a competitive advantage over other market players in the industry landscape.

• In January 2023, Lupin, a multinational pharmaceutical company based in India announced the launch of a new drug combination to manage and treat asthma among patients. The new fixed-dose triple drug combination (FDC) of Indacaterol, Glycopyrronium, and Mometasone was launched under the brand name DIFIZMA in India.

Key Segments of Asthma Treatment Industry Research

• By Treatment :

  • Long-term Asthma Control Medications
    • Combination Inhalers
    • Inhaled Corticosteroids
    • Long-acting Beta Agonists
    • Leukotriene Modifiers
    • Theophylline
    • Others (Reslizumab, Benralizumab, etc.)
  • Quick-relief (Rescue) Medications
    • Short-acting Beta Agonists
    • Ipratropium (Atrovent)
    • Oral & Intravenous Corticosteroids

• By Route of Administration :

  • Inhaled
  • Oral
  • Intravenous
  • Subcutaneous

• By Distribution Channel :

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA