Asthma Therapeutics Market by Drug Class (Bronchodilators, Anti-Inflammatory Drugs, Combination Therapy), Route of Administration (Oral, Inhaled, Intravenous), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), & Region for 2024-2031
Report ID: 30391|No. of Pages: 202
Asthma Therapeutics Market by Drug Class (Bronchodilators, Anti-Inflammatory Drugs, Combination Therapy), Route of Administration (Oral, Inhaled, Intravenous), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), & Region for 2024-2031
Asthma Therapeutics Market Valuation — 2024-2031
The advancements in biologics and targeted therapies are credited with driving the asthma therapeutics market upwards by offering more personalized and effective treatment options for patients with severe or difficult-to-treat asthma. According to analysts from Verified Market Research, the asthma therapeutics market is estimated to reach a valuation of USD 21.44 Billion by 2031, up from USD 18.44 Billion valued in 2024.
The significant expansion of the asthma therapeutics market is primarily driven by rising global asthma prevalence, coupled with increasing air pollution and environmental triggers. The market is enabled to grow at a CAGR of 16.46% from 2024 to 2031.
Asthma Therapeutics Market: Definition/Overview
Asthma therapeutics are defined as medications and treatments that are designed to control and prevent asthma symptoms, which include wheezing, shortness of breath, chest tightness, and coughing. These therapeutics are categorized into different classes based on their mechanism of action and intended use.
Furthermore, asthma treatments are administered through various routes, with inhaled medications considered the cornerstone of therapy. Long-term control medications are used to prevent symptoms, while quick-relief medications (rescue medications) are employed to address acute symptoms. Additionally, biological therapies are developed for severe asthma cases that are not adequately controlled by conventional treatments.
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What are the Key Drivers for the Asthma Therapeutics Market?
One of the main factors propelling the market for asthma treatments is the increasing incidence of asthma. The World Health Organization (WHO) estimates that over 300 million people globally already have asthma, and that number is estimated to rise. Asthma treatments are in high demand due to the expanding patient population, which demands efficient management and treatment choices.
The field of asthma care is changing because of ongoing developments in treatment technology, such as biologics and targeted medicines. According to the 2018 Global Asthma Report, new treatments better control severe asthma, improving the quality of life for those who suffer from it. The market for biologics alone is estimated to reach around $10 billion by 2025, illustrating the impact of innovation on treatment options and market growth.
Furthermore, increased awareness and educational initiatives regarding asthma management are driving the demand for various therapeutic equipment. Programs aimed at improving patient understanding of their condition and how to use inhalers effectively have been shown to enhance adherence to treatment regimens. A report states that educating patients on proper inhaler techniques improves drug delivery efficiency by up to 90%. As awareness continues to rise, the demand for asthma-related equipment is estimated to grow.
What are the Key Challenges of Asthma Therapeutics in the Market?
The asthma therapeutics market faces several key challenges that impact patient management and treatment outcomes. Many patients struggle to follow prescribed treatment regimens due to factors such as complex dosing schedules, side effects, and a lack of understanding of the importance of regular medication use. This non-compliance led to poor disease management, increased hospitalizations, and a greater overall burden on healthcare systems.
Asthma is a heterogeneous condition, meaning that patients exhibit diverse symptoms and reactions to medications. This variability complicates the development of effective therapies, as healthcare providers need to try multiple medications before finding the most suitable option for everyone. This trial-and-error approach prolongs suffering for patients and contributes to increased healthcare costs, both for patients and providers.
Furthermore, high treatment costs present a significant barrier to access for many individuals. Newer biologic therapies, while often more effective, are prohibitively expensive, limiting access for those without adequate insurance coverage. Moreover, while awareness of asthma is increasing, many patients remain uninformed about the importance of proper management and the latest therapeutic options. Insufficient education led to ineffective self-management strategies, ultimately worsening health outcomes. Addressing these challenges will be crucial for improving the effectiveness of asthma therapeutics and ensuring a better quality of life for patients.
Category-Wise Acumens
What are the Drivers that Contribute to the Demand for Combination Therapy?
According to market analysis, the combination therapy segment is estimated to dominate the market in the drug class segment during the forecast period. Combination therapies, which typically include an inhaled corticosteroid and a long-acting beta-agonist, are prescribed increasingly due to their enhanced efficacy in controlling asthma symptoms. These combinations are shown to provide better outcomes than monotherapy in moderate to severe asthma cases.
Clinical guidelines are updated to recommend combination therapy as the preferred treatment option for many asthma patients. The convenience of having multiple medications in a single inhaler is appreciated by both patients and healthcare providers, leading to improved adherence and outcomes. Additionally, new combinations are developed and tested, which is estimated to further drive growth in this segment.
What are the Potential Factors for the Growth of Inhaled Administration in the Market?
The inhaled administration segment is projected to dominate the asthma therapeutics market during the forecast period. Inhaled medications are preferred due to their direct delivery to the airways, which is associated with a faster onset of action and fewer systemic side effects compared to oral medications. The development of more efficient inhaler devices is pursued to improve drug delivery and patient compliance.
Patient preference for inhaled medications is noted, as they are perceived as less invasive than injections and more targeted than oral medications. Advanced inhaler technologies are introduced, including breath-activated devices and those with dose counters, which is seen as contributing to the growth of this segment.
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Country/Region-wise Acumens
What are the Key Factors that Contribute to North America’s Edge in the Market?
According to VMR Analyst, North America is estimated to dominate the asthma therapeutics market during the forecast period. North America region has a significant prevalence of asthma, which drives demand for effective therapeutic options. According to the Centers for Disease Control and Prevention (CDC), approximately 25 million people in the United States are affected by asthma, with the condition accounting for 1.8 million emergency department visits annually. This high burden of disease necessitates ongoing treatment and management, fostering growth in the asthma therapeutics market.
The continuous development and approval of new and innovative asthma therapies contribute to market growth in North America. The Food and Drug Administration (FDA) has approved several biologic therapies for asthma in recent years, significantly improving disease management. For instance, the market for biologic therapies is projected to reach $8.6 billion by 2025, driven by the increasing adoption of these advanced treatments, which are tailored to patients with severe asthma.
Furthermore, there is a growing awareness of asthma management and treatment options in North America, supported by numerous public health initiatives. The American Lung Association states that asthma control programs and campaigns have led to a 35% reduction in asthma-related hospitalizations since 2001. This increased awareness drives more patients to seek medical care and treatment options, thereby boosting the demand for asthma therapeutics in the region.
How Do Healthcare Advancements Shape the Market Landscape in Europe?
Europe is estimated to exhibit the highest growth within the biogas market during the forecast period. The increasing incidence of asthma and allergic diseases in Europe is a key driver of the asthma therapeutics market. According to the European Respiratory Society (ERS), asthma affects approximately 30 million people across Europe, with an estimated 10% increase in prevalence over the last decade. This growing patient population underscores the need for effective treatment options and management strategies, leading to greater demand for asthma therapeutics.
Europe benefits from a strong healthcare infrastructure that facilitates access to advanced asthma treatments. The European Medicines Agency (EMA) plays a crucial role in the regulation and approval of new therapies, ensuring that innovative asthma medications reach the market promptly. The European market for asthma medications is projected to exceed €10 billion by 2026, driven by high healthcare expenditure and a commitment to improving respiratory health.
Furthermore, there is a growing emphasis on preventive healthcare measures in Europe, particularly regarding chronic diseases like asthma. Initiatives aimed at early diagnosis and effective management have been supported by various public health organizations. For instance, the World Health Organization (WHO) highlights that proper asthma management reduces morbidity and healthcare costs by up to 50%. This focus on prevention encourages patients to seek treatment early, boosting the asthma therapeutics market.
Competitive Landscape
The asthma therapeutics market’s competitive landscape is characterized by the presence of both established pharmaceutical companies and emerging biotech firms. Key players are observed to focus on developing innovative treatments and improving existing therapies.
Some of the prominent players operating in the asthma therapeutics market include:
- GlaxoSmithKline plc
- AstraZeneca plc
- Boehringer Ingelheim International GmbH
- Hoffmann-La Roche Ltd
- Novartis AG
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd.
- Regeneron Pharmaceuticals, Inc.
- Sanofi S.A.
- Vectura Group plc
Latest Developments
- In September 2023, AstraZeneca announced promising results from its clinical trials for a new monoclonal antibody, dupilumab, which targets IL-4 and IL-13 pathways. This innovative treatment showed significant improvements in lung function and a reduction in asthma exacerbations among patients with severe asthma, paving the way for its potential approval and use in routine clinical practice.
- In August 2023, GSK launched a new inhaler device that combines multiple asthma medications into a single inhaler, simplifying the treatment regimen for patients. This new device is designed to enhance adherence by reducing the complexity of medication schedules, making it easier for patients to manage their asthma effectively.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2031 |
| Growth Rate | CAGR of ~ 2.10% from 2024 to 2031 |
| Base Year for Valuation | 2024 |
| Historical Period | 2021-2024 |
| Forecast Period | 2024-2031 |
| Quantitative Units | Value in USD Billion |
| Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Players | GlaxoSmithKline plc, AstraZeneca plc, Boehringer Ingelheim International GmbH, Hoffmann-La Roche Ltd, Novartis AG, Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals, Inc., Sanofi S.A., Vectura Group plc |
| Customization | Report customization along with purchase available upon request |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as a future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL ASTHMA THERAPEUTICS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL ASTHMA THERAPEUTICS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL ASTHMA THERAPEUTICS MARKET, BY DRUG CLASS
5.1 Overview
5.2 Anti- inflammatory
5.3 Bronchodilators
5.4 Combination Therapy
6 GLOBAL ASTHMA THERAPEUTICS MARKET, BY PRODUCT
6.1 Overview
6.2 Inhalers
6.2.1 Dry Powder
6.2.2 Metered Dose
6.2.3 Soft Mist
6.3 Nebulizers
7 GLOBAL ASTHMA THERAPEUTICS MARKET, BY ROUTE OF ADMINISTRATION
7.1 Overview
7.2 Oral
7.3 Inhaled
8 GLOBAL ASTHMA THERAPEUTICS MARKET, BY END-USER
8.1 Overview
8.2 Banking, Financial Services and Insurance (BFSI)
8.3 IT & Telecom
8.4 Government
8.5 Energy & Utilities
9 GLOBAL ASTHMA THERAPEUTICS MARKET, BY GEOGRAPHY
9.1 Overview
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 U.K.
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Rest of Asia Pacific
9.5 Rest of the World
9.5.1 Latin America
9.5.2 Middle East
10 GLOBAL ASTHMA THERAPEUTICS MARKET COMPETITIVE LANDSCAPE
10.1 Overview
10.2 Company Market Ranking
10.3 Key Development Strategies
11 COMPANY PROFILES
11.1 Teva Pharmaceutical Industries Ltd.
11.1.1 Overview
11.1.2 Financial Performance
11.1.3 Product Outlook
11.1.4 Key Developments
11.2 GSK plc
11.2.1 Overview
11.2.2 Financial Performance
11.2.3 Product Outlook
11.2.4 Key Developments
11.3 Merck & Co., Inc.
11.3.1 Overview
11.3.2 Financial Performance
11.3.3 Product Outlook
11.3.4 Key Developments
11.4 F. Hoffmann-La Roche Ltd
11.4.1 Overview
11.4.2 Financial Performance
11.4.3 Product Outlook
11.4.4 Key Developments
11.5 AstraZeneca
11.5.1 Overview
11.5.2 Financial Performance
11.5.3 Product Outlook
11.5.4 Key Developments
11.6 Boehringer Ingelheim International GmbH
11.6.1 Overview
11.6.2 Financial Performance
11.6.3 Product Outlook
11.6.4 Key Developments
11.7 Sanofi
11.7.1 Overview
11.7.2 Financial Performance
11.7.3 Product Outlook
11.7.4 Key Developments
11.8 Koninklijke Philips N.V.
11.8.1 Overview
11.8.2 Financial Performance
11.8.3 Product Outlook
11.8.4 Key Developments
11.9 BD
11.9.1 Overview
11.9.2 Financial Performance
11.9.3 Product Outlook
11.9.4 Key Developments
11.10 Covis Pharma
11.10.1 Overview
11.10.2 Financial Performance
11.10.3 Product Outlook
11.10.4 Key Developments
12 Appendix
12.1 Related Research
Report Research Methodology
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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