The asthma drug market growth is attributed to the growing environmental implications & genetic implications of air pollution, more vulnerability in specific ethnic groups, growing exposure to coarse particulate matters, and growing prevalence of physiological disorders harboring asthma. However, unmet medical needs and lack of treatment adherence hamper the asthma drug market growth.
The Global Asthma Drugs Market report by Thinking caps research & consultancy is an in-depth and valuable data source. The report includes various socio-economic factors helping in the evolution of the market. The study provides an overview of the industry with a growth analysis along with historic and forecast value of the market, revenue, cost, demand, and supply data. This Market study provides comprehensive data that enhances this report's understanding, scope, and application. The research analysts elaborate on the value chain and its distributor analysis. The report mentions company profiles of players currently dominating the global Asthma Drugs market, with various development, technological advancement, expansion, and winning strategies of the leading players are presented in detail. The report helps to understand the future prospects for the Asthma Drugs market with Marketing & Price (Price and Margin, Factors of Price Change, Manufacturers Gross Margin Analysis).
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The List of Companies - Asthma Drugs Market
AstraZeneca
TEVA PHARMACEUTICAL INDUSTRIES LTD.
GlaxoSmithKline plc
Boehringer Ingelheim International GmbH
Merck & Co., Inc.
Koninklijke Philips NV
Sanofi
Pfizer Inc.
Novartis AG
Abbott
Frequently Answered Questions:
- What are the factors affecting the growth of the Asthma Drugs market?
- What is the CAGR of the Asthma Drugs market?
- Which region saw the highest growth rate for the Asthma Drugs market during the forecast period?
- Who are the key market players of the Asthma Drugs market?
- What is the value of the Asthma Drugs market?
Asthma is one of the most widespread illnesses in the world, asthma is also a potentially fatal disorder that impairs patients' ability to breathe normally. Breathlessness, bronchospasm, and reversible airflow blockage are frequent symptoms of asthma, a chronic disorder that stretches and narrows the lungs' airways. The main causes of asthma include air toxicity, cigarette smoke, environmental irritants, and indoor and outdoor allergens. Asthma cases are significantly increasing in both urban and rural regions as a result of improved air quality. The number of smokes has significantly increased, which aggravates asthma symptoms. Pharmaceutical industry behemoths are consistently spending in their R&D efforts to create better asthma medications, which are also anticipated to fuel the target market. Additionally, recent developments in the healthcare industry are producing ground-breaking therapies that are anticipated to further drive the asthma market's expansion throughout the forecast period.
In this article, we will provide an overview of the global asthma drugs market, highlighting recent trends and developments, and analyzing the key factors driving growth in the market.
Market Size and Segmentation:
According to the latest data, the global asthma drugs market was valued at US$ 24,239.17 million in 2021 and is projected to reach US$ 34,136.10 million by 2028, growing at a CAGR of 5.0% during the forecast period.
The medications segment is divided into quick relief medications and long-term control medications. The route of administration segment is divided into inhaled, prefilled syringes/vials, and others. The distribution channels segment is divided into online pharmacies, hospital pharmacies, and retail pharmacies. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Recent Trends and Developments:
Ensifentrine, a medication used to treat chronic obstructive pulmonary disease (COPD), was the subject of a phase 3 clinical trial in which Verona reported encouraging results in October 2022. A product candidate called ensifentrine combines bronchodilator and anti-inflammatory properties into a single substance.
For patients with unmanageable asthma, Glenmark introduced the revolutionary fixed dosage combination (FDC) medicine Indacaterol plus Mometasone in June 2022 in India. Glenmark marketed this FDC under the name Indamet.
Enerzair Breezhaler can be suggested with asthma treatment in Europe starting in 2020 thanks to EC approval received by Novartis, a reputable firm.
The asthma market is expanding as a result of rising asthma prevalence and an ageing population. The leading players in the global asthma market may benefit from lucrative growth prospects brought on by ongoing R&D efforts and technological improvements. In order to create affordable medicines, key competitors in the asthma market are concentrating on technology improvements as well as research and development. Numerous growth opportunities are being created in the target industry by the increasing pipeline medication launches and strategic advances by the leading competitors.
Key Drivers of Growth:
The global asthma market is expanding as a result of the rising prevalence of asthma in the world. Asthma is listed as one of the most prevalent chronic disorders. Huge demand for asthma treatments is being driven by rising awareness of the importance of good health, which will soon propel market expansion on a global scale. More than 5.5 million people in the UK received asthma therapy in 2016, of which 4.3 million were adults and 1.1 million were children, according to data from the Pharmaceutical Services Negotiating Committee (PSNC). Key market companies are frequently releasing cutting-edge and novel goods at low prices to meet the growing demand for asthma medications, which will support and enhance expansion of the asthma industry over the course of the next ten years. For instance, the Food and Drug Administration in 2019 approved the prefilled and auto injector asthma medication Fazenda from the AstraZeneca corporation. Additionally, in the same year, the Food and Drug Administration authorised GlaxoSmithKline plc. 's Nucala for the treatment of severe eosinophilic asthma in children aged six to eleven. The only biologic deemed safe for use in children is this one.
Market Summary:
- On the basis of product type the Global Asthma Drugs market has been divided into {{}}
- On the basis of application, the Global Asthma Drugs market has been bifurcated into {{}}
- On the basis of end-user the Global Asthma Drugs market has been divided into {{}}
- On the basis of geography, the Global Asthma Drugs market is segregated into Europe (France, Germany, the United Kingdom, Russia, Spain, Italy, and others), North America (the United States and Canada), Asia Pacific (Japan, India, China, Australia, South Korea, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The key market players studied in the report include {{}}
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Regional Analysis
Different regions of the world are being analyzed and examine the potential to flourish in a marketing environment. These regions are North America, Europe, Asia-Pacific nations such as India, China, etc., Latin America, Australia. Expanded pay, trend-setting innovation, and apparatus, along with the projects for spreading a positive message about growth, would lead to the development of the market significantly. In Asia-Pacific nations, up-gradation in GDP per capita and framework, advancement has urbanized country regions into metropolitan regions which will benefit the market in the long run.
- North America (US, Mexico, Canada)
- Europe (Germany, UK, Russia, France, Italy)
- Asia Pacific (China, South Korea, India, Japan, Southeast Asia)
- South America (Brazil, Colombia, Argentina)
- Middle East and Africa (Saudi Arabia, UAE), and South Korea)
Conclusion:
To grow their market shares, the market participants are using a variety of techniques, including new launches, developments, collaborations, acquisitions, and expansions. For instance, in Canada, Enerzair Breezhaler and Atectura Breezhaler were commercially released by Valeo Pharma Inc. in June 2021 for the treatment of asthmatics. These products have proven to be more effective at controlling asthma symptoms and reducing the risk of associated problems. As a result, it is anticipated that factors such as an increase in the incidence and prevalence of asthma, innovative therapy medications, and rising product developments will aid in the market's expansion.
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