Asthma Drugs Market Segments, Driver, Restraints, And Trends
Asthma Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Asthma Drugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 15, 2024 /EINPresswire.com/ -- The asthma drugs market has experienced robust growth in recent years, expanding from $23.05 billion in 2023 to $24.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to environmental factors, increased respiratory disorders, lifestyle changes, healthcare infrastructure development.
Strong Future Growth Anticipated
The asthma drugs market is projected to continue its strong growth, reaching $30 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to rising air pollution levels, growing aging population, increasing healthcare awareness, personalized medicine trends, biopharmaceutical innovations. Major trends in the forecast period include small molecule therapies, home-based asthma care, biomarker-guided therapies, therapeutic advances in severe asthma, collaborations for asthma research.
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Growth Driver Of The Asthma Drugs Market
The rising prevalence of respiratory diseases will boost the asthma drug market. Respiratory diseases are medical conditions that affect the respiratory system, which includes the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. The prevalence of respiratory diseases drives the use of asthma drugs to manage and alleviate symptoms associated with respiratory conditions. As respiratory diseases become more widespread, particularly conditions like asthma characterized by chronic inflammation and airway constriction, the demand for effective therapeutic interventions increases.
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Major Players And Market Trends
Key players in the asthma drugs market include Pfizer Inc., Roche Holding AG, Merck & Co. Inc., Bayer AG, Sanofi S.A., AstraZeneca PLC., GlaxoSmithKline PLC., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Novartis International AG, Mylan N.V., Koninklijke Philips N.V, Cipla Limited, Chiesi Farmaceutici S.p.A., Sun Pharmaceutical Industries Limited, Hikma Pharmaceuticals, Mundipharma International Limited, Lupin Limited, Glenmark Pharmaceuticals Limited, Hetero Drugs Limited, Alembic Pharmaceuticals Limited, Sunovion Pharmaceuticals Inc., Amphastar Pharmaceuticals Inc., Beximco Pharmaceuticals Ltd., Innoviva Inc., Vectura Group, Circassia Group PLC, Pari Medical Holding GmbH, Pulmatrix Inc., Atopix Therapeutics Limited.
Major companies operating in the asthma drug market are focused on product innovation, such as indacaterol plus mometasone, to help in the management of uncontrolled asthma by improving lung function, better symptom control, and reducing exacerbations. Indacaterol plus Mometasone is a fixed-dose combination medication for the treatment of asthma in adults and adolescents twelve years of age and older that is not adequately controlled with inhaled corticosteroids and inhaled short-acting beta2 agonists.
Asthma Drugs Market Segments:
1) By Type Of Asthma: Allergic, Non-Allergic
2) By Asthma Trigger Type: Adult-Onset Asthma, Child-Onset Asthma, Cough-Induced Asthma, Exercise-Induced Asthma, Occupational Asthma, Nocturnal Asthma, Steroid-Resistant Asthma
3) By Therapy: Preventive, Curative
4) By Drug Class: Bronchodilators, Monoclonal Antibodies, Anti-Inflammatory Drugs, Combination Drugs
5) By End-User: Asthma Patients, COPD Patients
Geographical Insights: North America Leading The Market
North America was the largest region in the asthma drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of asthma drugs.
Asthma Drugs Market Definition
Asthma refers to a chronic lung disease that is caused by the inflammation and tightening of muscles around the airways, which makes patients suffer from effective breathing. This is caused when the airways get narrow, swollen, and blocked by excess mucus. Asthma drugs play a crucial role in managing asthma.
Asthma Drugs Global Market Report 2024 from THE BUSINESS RESEARCH COMPANY covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Asthma Drugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on asthma drugs market size, asthma drugs market drivers and trends, asthma drugs market major players, asthma drugs competitors' revenues, asthma drugs market positioning, and asthma drugs market growth across geographies. The asthma drugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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