Asthma Drugs Market (By Medication: Quick Relief Medications, Long-term Control Medications, Others; By Mode of Administration: Tablets and Capsules, Liquids, Inhalers, Injections, and Sprays and Powders; By Source: Environmental, Generic; By Organization Type: Public, Private; By Application: Pediatric, Adults, Adolescent)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global asthma drugs market size was exhibited at USD 22.84 billion in 2022 and is projected to hit around USD 38.28 billion by 2032, growing at a CAGR of 5.3% during the forecast period 2023 to 2032.

Asthma Drugs Market Size, 2023 to 2032

Asthma is a medical condition that affects the airway by making it swell and narrow or by causing it to produce extra mucus. It can lead to difficulty in breathing and trigger mild to violent coughing, wheezing or whistling sounds when breathing out, or lead to shortness of breath. For some patients, the asthmatic condition is very mild and may act as a minor inconvenience however for some patients it can interfere with everyday activities leading to limitations in living a quality life. In some cases, asthma is also known to be life-threatening

The condition does not have a cure but the symptoms can be controlled. Since the condition changes with time, patients are recommended to work along with doctors to understand trigger points and adjust the treatment as per requirement. The associated symptoms vary from one patient to another for instance some patients have been recorded to have infrequent asthma attacks only in certain situations, some may have it while exercising while some are known to show the symptoms at all times

The most observed symptoms during an asthma attack are known to be chest pain or tightening, shortness of breath, wheezing or coughing attacks which may worsen in case of contracting a virus like cold or flu, and trouble while sleeping due to breath shortness.

Asthma Drugs Market Report Scope

Report Coverage

Details

Market Size in 2023

USD 24.05 Billion

Market Size by 2032

USD 38.28 Billion

Growth Rate from 2023 to 2032

CAGR of 5.3%

Base year

2022

Forecast period

2023 to 2032

Segments covered

Medication, Mode of Administration, Source, Organization Type, Application

Regional scope

North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa

Key companies profiled

GlaxoSmithKline, Pfizer, Vectura Group, Boehringer Ingelheim, Roche, Novartis, Merck, AstraZeneca, Teva Pharmaceutical

Growth Drivers

Growing number of asthma patients to drive market growth

The global asthma drugs market is projected to grow owing to the increasing number of asthma patients across the globe. As described by the World Health Organization (WHO), it is a major non-communicable disease (NCD) that can affect children and adults alike. It is also described as one of the most common chronic diseases among children. As per data published on the organization’s website, more than 262 million people were affected by the diseases in 2019 and it led to the death of nearly 455,000 patients.

One of the leading causes of the disease is known to be genetic reasons. If a parent already is affected by asthma, the risk of the disease passing to the children is high. People who suffer from allergic reactions like rhinitis, also known as hay fever, or eczema are also more prone to contracting asthma.

Other factors like obesity or being overweight are also known to cause the breathing condition. More than 24.5 million US citizens are living with the condition as per the information provided by the Asthma and Allergy Foundation of America (AAFA). The number equals 1 in every 3 citizens. These factors are projected to help pharmaceutical companies dealing with asthma drugs grow further in the coming years.

 Restraints

Health concerns associated with the drugs to restrict market expansion

The condition does not have a proper cure and only the symptoms can be controlled using different forms of medication that depend on the intensity of the asthma attack. However, some beta-agonist medications are known to have side effects among patients. These effects include insomnia in children, increased nervousness, tremor, vomiting, bronchospasm, allergic reaction, cough, dry mouth, and chills amongst many other related issues. It could potentially restrict global market growth in the coming years.

 Opportunities

Growing research & development to provide growth opportunities

Healthcare and pharmaceutical companies are constantly working toward the development of new and effective drugs that could potentially help contain diseases permanently. As the research & development (R&D) activities around finding the most suitable cure grows, the global market growth will gain more momentum.

For instance, medical researchers are now studying fevipiprant drug hoping that one day they can be used to cure the disease permanently. As the studies have indicated, the drug can be consumed orally and may help resolve the condition in case of mild to severe asthma. It is currently in the final stages of study and there is no date of launch as of now.

 Challenges

Discomfort after using inhalers to act as a major challenge

Patients have often reported suffering from oral thrush, hoarse voice, or sore mouth after using inhalers. Although these issues are also mentioned in the possible side-effects leaflets that come along with the steroid-preventer inhaler, it currently stands as a major challenge for the global market players to deal with. As per recommended dose, only the inhaler can be used only 4 times in one day.

Segmentation Analysis

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

Based on the mode of administration, the global market divisions are injections, inhalers, tablets & capsules, sprays & powder, and liquid. Doctors recommend using inhalers because they have proven to be effective in managing the condition. Most inhalers contain steroids to treat the inflammation of the airway, The most commonly used steroid is prednisone. Other inhalers may have bronchodilator, another steroid that assists in opening up the airway. One inhaler contains around 200 pumps so a medicine lasts for 25 days at an average of 8 puffs a day.

Based on application, the global market divisions are adults, pediatric, and adolescent. The disease can occur at any point in time and across age groups from children to adults. However, asthma attacks are more common in children but have higher mortality rates in adults. In children, the prevalence percentage is around 9.5 while in adults it is around 7.9%

Some of the prominent players in the Asthma Drugs Market include:

  • GlaxoSmithKline
  • Pfizer
  • Vectura Group
  • Boehringer Ingelheim
  • Roche
  • Novartis
  • Merck
  • AstraZeneca
  • Teva Pharmaceutical

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Asthma Drugs market.

By Medication

  • Quick Relief Medications
  • Long-term Control Medications
  • Others

By Mode of Administration

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

By Source

  • Environmental
  • Generic

By Organization Type

  • Public
  • Private

By Application

  • Pediatric
  • Adults
  • Adolescent

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global asthma drugs market size was exhibited at USD 22.84 billion in 2022 and is projected to hit around USD 38.28 billion by 2032

Increasing prevalence of asthma and growth in the old age population are driving factors for the growth of asthma market. Ongoing R&D activities and technological advancements can create lucrative growth opportunities for the key players operating in the global asthma drugs market. High costs associated with the research and development of the asthma drugs is key factor hampering growth of the global market.

North America will dominate the global industry due to huge investments in healthcare sector and growing research and development activities in the countries is predictable create tremendous demand for the asthma drugs, in the countries of the North America.

The major companies functioning in the worldwide GlaxoSmithKline, Pfizer, Vectura Group, Boehringer Ingelheim, Roche, Novartis, Merck, AstraZeneca, Teva Pharmaceutical among others.

Report Detail

  • Report Code:7871
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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