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.
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.
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Key Highlights of Asthma Treatment Market Study
- Sales of long-term asthma control medications would remain 59% higher as compared to quick-relief medications by 2027, as rescue medications have limited application scope (only used during asthma attacks), while long-term medications possess high efficacy to control asthma attacks.
- Loss of patent exclusivity of branded drugs could affect the position of leading players in the asthma treatment market, as generic drugs gain ground. For instance, patents of Symbicort Turbuhaler and Qvar manufactured by AstraZeneca and GlaxoSmithKline PLC respectively, are to expire in the very near future. High availability of generic drugs to treat mild to severe asthma is projected to adversely affect revenue potential of the asthma treatment market during the forecast period.
- Sales of inhalers are projected to cross US$ 14 Bn by 2027, and oral route of administration is likely to grow as the second-most attractive section in the asthma treatment market.
- Relaxed FDI policies in India and China are projected to shift focus of leading players towards Asia Pacific to achieve reduced overhead costs and meet growing demand for asthma therapeutics in these countries. According to the Lung India Journal, India accounts for one in every 10 asthma patients. On the back of increasing demand for asthma therapeutics and improving supply chain, the Asia Pacific asthma treatment market is projected to witness growth in the market.
A senior research analyst at Fact.MR opines,“Growing acceptance of online shopping channels offering next-day/ same-day delivery features and attractive deals would increase sales through online pharmacies. The trend of ordering medications through online pharmacies would gain more prominence by 2027.”
Asthma Treatment Market – Assessment of Key Segments
Authors of this comprehensive study have classified the asthma treatment market into key segments for an in-depth study of the market. Categorisation of the asthma treatment market is based on treatment type, route of administration, distribution channel, and region. This detailed study also offers information about the incremental opportunity present in the asthma treatment market during the forecast period. Key segments considered while studying the asthma treatment market include:
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| Route of Administration |
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Key Question answered in the survey of Quick Relief Asthma Treatment market report:
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- Key Drivers Impacting the Quick Relief Asthma Treatment market
- Which are the Key drivers impacted by Quick Relief Asthma Treatment market
- Restraints Shaping Market Growth
- Market Survey of Quick Relief Asthma Treatment
