Global Asthma Drugs Market Share Is Expected To Grow At A CAGR Of 5.21% By 2030

05-Jan-2023 | Facts and Factors

According to Facts and Factors, the global asthma drugs market size was worth around USD 21.7 billion in 2021 and is predicted to grow to around USD 34.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.21% between 2022 and 2030.

Asthma is caused by the inflammation of the lung's airway. It is a long-term disease which means that there is no cure for the condition for now and the medications can only help in controlling the associated symptoms. The main characteristics of the disease include frequent and easily triggered bronchospasm and irreversible obstruction of the airflow. The signs may include shortness of breath, coughing, wheezing, and chest tightness. The intensity of asthma attacks varies from one patient to another. In some cases, the attack may be more frequent than in others. Depending on the person, the attack could occur during the night time or daytime.

Browse the full “Asthma Drugs Market By Mode Of Administration (Injections, Inhalers, Tablets & Capsules, Sprays & Powders, and Liquids), By Medication (Long-Term Control Medications, and Quick Relief Medications), By Application (Adults, Pediatric, and Adolescent), By Source (Generic, and Environmental), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/asthma-drugs-market

Although in some cases, the attacks are mild, patients have also had serious attacks leading to a high fatality rate. By avoiding triggers like respiratory irritants, and allergens, the associated symptoms of asthma can be avoided. They can also be suppressed with the use of corticosteroids. In cases that are more severe, the treatment method includes the use of beta-2 agonists, a class of drugs such as salbutamol, which are taken orally. In cases that are borderline fatal, hospitalization may be required along with treatment using magnesium sulfate.

The global asthma drugs market is projected to grow owing to the increasing technical and research-related growth across the globe. Asthma has long existed without any cure and pharmaceutical companies have increased spending on conducting exhaustive research activities to develop a final cure for the disease and also aid technical growth until a cure is found. For instance, in 2021. Cipla, a leading name in the pharmaceutical market, announced the scaling up of its activities to make asthma drugs, inhalers, and diagnostic tools more accessible. The company aims to become a top-ranking name in the list of lung specialists. In 2014, the company spent over INR 600 crore on research & development (R&D) activities.

The technical growth in the field has recorded tremendous response as businesses and service providers try to limit the side effects of discomfort associated with the use of inhalers. For example, in 2017, the United States Food & Drugs Administration (FDA) authority approved the use of two inhalers developed by Teva Pharmaceuticals. The products are called AirDuoTM RespiClick® and ArmonAirTM RespiClick®. The newly approved products not only helped the company grow its product portfolio but have assisted asthmatic patients to control their symptoms extensively.

The global market could face growth restrictions due to the high cost associated with the development of drugs and accessories as well as the lengthy approval process before the product is made available for purchase in the live market. It limits the number of players in undeveloped economies as they have to rely on external funds for research purposes. Other concerns like the approval of using cannabis as a bronchodilator are yet to be explored and there are strict laws surrounding the use of medical marijuana.

The growing research & development may provide growth opportunities while the discomfort after using inhalers may act as a major challenge.

Segmental Overview

The global asthma drugs market is segmented based on the mode of administration, medication, application, source, and region

Based on medication, the global market divisions are long-term control medications and quick relief medication. The global market is projected to be dominated by long-term control medications due to the higher demand for drugs. Quick relief medications may also register significant growth because they are helpful in providing fast relief in case of a narrowed and tight airway. In terms of long-term control medications, they are generally given in combination with other medicines. For instance, Trelegy, a prescribed prescription inhaler, consists of umeclidinium, vilanterol, and fluticasone. With this inhaler, only 1 inhalation in 24 hours is allowed

Based on the source, the global market segments are generic and environmental. The global market registered the highest growth in the generic source segment due to high product adoption. Environmental medicine, even though allowed in certain regions, is not currently very reliable as more research is needed to understand the true impact and effect on the treatment of asthma symptoms. Around 3% of India’s population currently suffers from asthmatic conditions.

Regional Overview

North America is projected to witness the highest revenue during the forecast period due to the high prevalence of the disease amongst the regional population as well as a growing number of pharmaceutical players adopting strategic approaches to expand their product portfolio and hold over the global market. Growth in Europe may be dominated by the presence of some of the largest and most dominating pharmaceutical players.

For instance, GlaxoSmithKline, a multinational biotechnology and pharmaceutical company, is located in the United Kingdom. The annual revenue of the company in 2021 stood at USD 47 billion which was an increase of over 7% from its revenue in 2020. Asia-Pacific is anticipated to lead with a high CAGR due to the growing demand for long-term control medications.

Report Scope

Competitive Analysis

The global asthma drugs market is led by players like Roche, GlaxoSmithKline, Teva Pharmaceutical, Vectura Group, AstraZeneca, and Pfizer.

Recent Developments:

• In July 2020, Novartis received the necessary approval from the European Commission Enerzair® Breezhaler which can be used with other asthma treatments in Europe
• In March 2022, the U.S. Food and Drug Administration approved Symbicort to treat chronic obstructive pulmonary disease and asthma symptoms

The global asthma drugs market is segmented as follows:

By Mode Of Administration 

• Injections
• Inhalers
• Tablets & Capsules
• Sprays & Powders
• Liquids

By Medication 

• Long-Term Control Medications
• Quick Relief Medications

By Application 

• Adults
• Pediatric
• Adolescent

By Source 

• Generic
• Environmental

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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