Asthma Treatment Market 2023-2030: Comprehensive Analysis of Competitive Landscape

by Cloud PR Wire August 3, 2023

The global asthma treatment market is witnessing substantial growth due to the rising prevalence of chronic respiratory disorders like asthma worldwide. Asthma is considered one of the most common and chronic respiratory diseases, causing significant mortality across the globe. According to the World Health Organization (WHO), since 2019, the proliferation of asthma has been increasing, affecting around 262 million individuals and resulting in approximately 455,000 deaths in the same year. The WHO also reports that about 339 million individuals develop asthma annually, with older adults being the most affected by the disease. Furthermore, the Global Initiative for Asthma 2020 report indicates that asthma affects around 1-18% of the population in different countries, and its prevalence has been rising globally. This escalating burden of asthma has fueled the demand for advanced therapeutics, leading to the expansion of the asthma treatment market.

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The COVID-19 pandemic in 2020 further emphasized the importance of developing advanced medications for asthma treatment, as both asthma and the Sars-CoV-2 virus affect the respiratory system. The pandemic heightened concerns about respiratory health, particularly for individuals suffering from asthma and the Sars-CoV-2 virus, as it exacerbated asthma symptoms. The Centers for Disease Control and Prevention (CDC) issued strict guidelines for individuals with asthma during 2019-2020, highlighting the need for novel and advanced drugs to treat the condition and thus boosting the growth of the asthma treatment market.

The rise in research and development activities by companies focused on asthma treatment has led to the development of advanced drugs and therapeutics. Clinical trials are being conducted to gain approvals from healthcare authorities, leading to the introduction of new drug candidates that can control asthma symptoms and improve lung functioning in patients. The post-COVID-19 period saw a significant increase in sales of advanced asthma treatments, and several high-priority approvals were granted by regulatory authorities during 2019-2020, facilitating the launch of new drugs in the asthma treatment market.

Another factor driving the growth of the asthma treatment market is increasing air pollution, which is known to cause asthma in both adults and children. Research has established a strong link between asthma in children and exposure to outdoor and indoor air pollution, including secondhand smoke, traffic-related air pollution, and nitrogen dioxide. The global rise in air pollution is expected to contribute to the growing prevalence of asthma, thereby boosting the demand for medications and asthma drugs.

North America holds a dominant position in the global asthma treatment market, attributed to the increasing prevalence of asthma in developed economies within the region and the presence of major market players. For instance, in the United States, over 25 million individuals were affected by asthma in 2019, with around 11 individuals succumbing to the disease daily. The robust healthcare infrastructure, government support, incentives, and stable GDP per capita growth in North America also contribute to the markets growth in this region.

Prominent players in the asthma treatment market include AstraZeneca, Novartis AG, Mylan N.V., GlaxoSmithKline Plc, Sanofi, Merck & Co. Inc., Sumitomo Dainippon Pharma Co. Ltd., Regeneron, Cipla, Teva Pharmaceuticals, and Lupin Pharmaceuticals.

The asthma treatment market is expected to witness continued growth as the burden of asthma rises globally. Advances in research and development, along with new product launches, will play a crucial role in driving the market forward.

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