According to the latest report by IMARC Group, titled “Asthma Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global asthma therapeutics market size reached US$ 17.60 Billion in 2020. Asthma therapeutics are pharmaceutical drugs utilized in the treatment of asthma, which is characterized by breathlessness and wheezing attacks triggered by indoor and outdoor causative agents. These drugs expand the passageway of the lungs and allow air movement to improve breathing. Some of the commonly prescribed asthma therapeutics include bronchodilator drugs, including long-acting beta-agonists (LABA), corticosteroids, immunomodulators, methylxanthine and leukotriene modifiers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Asthma Therapeutics Market Trends:
The increasing incidences of asthma and other respiratory diseases, along with the rapidly improving diagnostic technologies, represent one of the key factors augmenting the asthma therapeutics market growth. Besides this, extensive research and development (R&D) activities undertaken by the leading players to develop advanced asthma therapeutics and the growing healthcare expenditures are also contributing to the growth of the market. Moreover, governing authorities of numerous countries are introducing campaigns to spread awareness about the availability of effective therapeutics among individuals. This, in confluence with the introduction of combination therapies for treating respiratory diseases, is positively influencing the demand for asthma therapeutics across the globe. Looking forward, the market value is projected to reach US$ 19.13 Billion by 2026, expanding at a CAGR of 1.60% during the forecast period (2021-2026).
- Based on the drug class, the market has been segmented into anti-inflammatory drugs, bronchodilators and combination therapies.
- On the basis of the product type, the market has been bifurcated into inhalers (dry powder, metered dose and soft mist) and nebulizers (pneumatic, ultrasonic and mesh).
- Based on the treatment type, the market has been categorized into quick relief and long-term asthma control medications.
- On the basis of the route of administration, the market has been divided into inhalation, oral and parenteral.
- Region-wise, the market has been segregated into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being AstraZeneca PLC, Abbott Laboratories, Amgen Inc., Biogen Inc., Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Merck Sharp & Dohme Corp., Novartis International AG, Sunovion Pharmaceuticals Inc. and Teva Pharmaceutical Industries Ltd.
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