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The asthma drugs market is projected to reach US$ 34,136.10 million in 2028 from US$ 24,239.17 million in 2021; it is estimated to grow at a CAGR of 5.0 % during 2021–2028.
Asthma is a lung disease that affects people of all ages. It produces wheezing and makes breathing difficult. Exposure to an allergy or irritant, infections, exercise, emotional stress, and other conditions are all potential triggers. When the symptoms of asthma become unbearable, an asthma attack ensues. Attacks can happen out of nowhere and range from mild to life-threatening. Asthma is managed with rescue inhalers to treat symptoms and controller inhalers that prevent symptoms. Severe cases may require longer-acting inhalers that keep the airways open (formoterol, salmeterol, tiotropium) and inhalant steroids. Asthma medication comes in several forms, including tablets, injections, liquids, and inhalers, and it falls into two groups, such as bronchodilators and anti-inflammatories.
The asthma drug market is segmented on the basis of medication, route of administration, distribution channel, and geography. The market, based on geography, is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The asthma drugs market report offers insights and in-depth analysis of the market, emphasizing parameters such as market size, trends, and dynamics; technological advancements in the market; and the analysis of the competitive landscape of the leading market players in the asthma drugs market.
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Asthma Drugs Market: Strategic Insights
Market Size Value in US$ 24,239.17 Million in 2021 Market Size Value by US$ 34,136.10 Million in 2028 Growth rate CAGR of 5.0 % from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Asthma Drugs Market: Strategic Insights
| Market Size Value in | US$ 24,239.17 Million in 2021 |
| Market Size Value by | US$ 34,136.10 Million in 2028 |
| Growth rate | CAGR of 5.0 % from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
Akshay
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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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A few factors such as the growing environmental implications & genetic implications of air pollution, more vulnerability in specific ethnic groups, growing exposure to coarse particulate matters, growing prevalence of physiological disorders harboring asthma are expected to have a significant short-, mid-, and long-term impact on the asthma drugs market in the coming years. However, unmet medical needs and lack of treatment adherence hamper the market growth. The market report identifies opportunities and future market trends that can have possible impacts on market growth.
Lucrative Regions in Asthma Drugs Market
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Market Insights
Growing Environmental Implications & Genetic Implications of Air Pollution
Asthma is a chronic respiratory condition marked by fluctuating airflow restriction, bronchial hyperresponsiveness, and airways inflammation. According to a review paper titled “Impact of Air Pollution on Asthma Outcomes” by Tiotiu et.al., air pollution hampered asthma outcomes in adults and children. Air pollution from traffic, nitrogen dioxide (NO2), and secondhand smoking (SHS) are all substantial risk factors for the development of asthma in children. Asthma symptoms, exacerbations, and decreased lung function can be triggered by exposure to outside pollution.
In the US, exposure to air pollution continues to be associated with asthma. This severe and life-threatening chronic respiratory condition impacts the quality of life of more than ~23 million American citizens. Air pollution can aggravate asthma symptoms, triggering asthma attacks among people. Children with asthma, which affects ~6 million children in the US, are particularly vulnerable to pollution.
A new study financed by the Environmental Protection Agency (EPA) analyzed the link between air pollution and asthma. While experts cannot determine the primary asthma-causing agent due to air pollution, evidence suggests that it suppresses genes that control the immune system to distinguish between an allergen and a hazardous foreign substance, such as a virus or bacteria. The immune system then goes into overdrive, triggering an inflammatory reaction regardless of whether the drug is toxic, resulting in asthma.
Researchers from Stanford University's Children's Center investigated the effect of air pollution on two genes involved in immunological tolerance in children from an area with high levels of pollution. They discovered that short- and long-term exposure to high amounts of carbon monoxide (CO), NO2, and PM2.5 (particulate matter) were linked to changes in these two genes, which caused asthma. These findings focused on the epigenetic impacts of air pollution exposure and could help in the development of preventative asthma medicines.
Each of these asthma research has improved the understanding of asthma in children and supplied crucial information to the EPA that can be used to protect human health and the environment. Through these research works, the drug discovery and development for asthma is being expedited, which is driving the asthma drug market.
Medication Type-Based Insights
The global asthma drugs market, based on medications, is bifurcated into quick relief medications and long-term control medications. The long-term control medications segment is expected to hold a larger share of the market in the coming years. However, the quick relief medications segment is expected to register a higher CAGR during the forecast period.
Asthma Drugs Market, by Medication – 2021 and 2028
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Route of Administration-Based Insights
Based on route of administration, the asthma drugs market is segmented into inhaled, prefilled syringe/vials, and others. The inhaled segment held the largest share of the market in 2021 and is expected to hold a significant share during the forecast period. However, the prefilled syringe/vials segment is expected to register the highest CAGR from 2021 to 2028.
Distribution Channel-Based Insights
Based on distribution channel, the asthma drugs market is segmented into online pharmacies, hospital pharmacies, and retail pharmacies. The retail pharmacies segment is expected to hold the largest share of the market during the forecast period. However, the online pharmacies segment is expected to register the highest CAGR during 2021–2028.
Various companies operating in the asthma drugs market adopt strategies such as product launches, mergers and acquisitions, collaborations, product innovations, and product portfolio expansions to expand their footprint worldwide, maintain a brand name, and meet growing consumer demands. Some of the leading players present in the market are AstraZeneca; Teva Pharmaceutical Industries Ltd.; GlaxoSmithKline PLC; Boehringer Ingelheim International GmbH; Merck & Co., Inc.; Koninklijke Philips NV; Sanofi; Pfizer Inc.; Novartis AG; and Abbott.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Medications, Route of Administration, and Distribution Channels
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Asthma is a lung disease that affects people of all ages. It produces wheezing and makes breathing difficult. Exposure to an allergy or irritant, infections, exercise, emotional stress, and other conditions are all potential triggers. When the symptoms of asthma become unbearable, an asthma attack ensues. Attacks can happen out of nowhere and range in severity from mild to life-threatening. Asthma is managed with rescue inhalers to treat symptoms and controller inhalers that prevent symptoms. Severe cases may require longer-acting inhalers that keep the airways open (formoterol, salmeterol, tiotropium), as well as inhalant steroids. Asthma drugs come in several forms, including tablets, injections, liquids, and inhalers; and it falls into two groups: bronchodilators and anti-inflammatories.
The global asthma drugs market is being driven by factors such as growing environmental implications & genetic implications of air pollution, more vulnerability in specific ethnic groups, growing exposure to coarse particulate matters, and the growing prevalence of physiological disorders harboring asthma.
The unmet medical needs and the lack of treatment adherence are the leading restraints that will hinder the asthma drugs market growth.
The asthma drugs market comprises of players that include AstraZeneca, TEVA PHARMACEUTICAL INDUSTRIES LTD, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Merck & Co., Inc, Koninklijke Philips N.V., Sanofi, Pfizer Inc., Novartis AG, and Abbott are among others.
The asthma drugs market on the basis of medication is bifurcated into quick relief medications and long-term control medications. In 2021, the long-term control medications segment accounted for a larger share in the global asthma drugs market.
On the basis of route of administration, the asthma drugs market is segmented into inhaled, prefilled syringe/vials, and others. The inhaled segment is expected to hold the largest share from 2021 to 2028. However, the prefilled syringe/vials segment is expected to grow at the highest CAGR during the forecast period.
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
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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