Asthma Drugs Market Size, Share Global Analysis Report, 2022 – 2030

Industry Insights

[215+ Pages Report] According to the report published by Facts Factors, the global asthma drugs market size was worth around USD 21.7 billion in 2021 and is predicted to grow to around USD 34.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.21% between 2022 and 2030. The report analyzes the global asthma drugs market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the asthma drugs market.

Market Overview

Asthma is a medical condition that affects the airway by making it swell and narrow or by causing it to produce extra mucus. It can lead to difficulty in breathing and trigger mild to violent coughing, wheezing or whistling sounds when breathing out, or lead to shortness of breath. For some patients, the asthmatic condition is very mild and may act as a minor inconvenience however for some patients it can interfere with everyday activities leading to limitations in living a quality life. In some cases, asthma is also known to be life-threatening.

The condition does not have a cure but the symptoms can be controlled. Since the condition changes with time, patients are recommended to work along with doctors to understand trigger points and adjust the treatment as per requirement. The associated symptoms vary from one patient to another for instance some patients have been recorded to have infrequent asthma attacks only in certain situations, some may have it while exercising while some are known to show the symptoms at all times

. The most observed symptoms during an asthma attack are known to be chest pain or tightening, shortness of breath, wheezing or coughing attacks which may worsen in case of contracting a virus like cold or flu, and trouble while sleeping due to breath shortness.

Key Insights

• As per the analysis shared by our research analyst, the global asthma drugs market is estimated to grow annually at a CAGR of around 5.21% over the forecast period (2022-2030)
• In terms of revenue, the global asthma drugs market size was valued at around USD 21.7 billion in 2021 and is projected to reach USD 34.3 billion, by 2030.
• The market is projected to grow at a significant rate due to the growing cases of asthmatic patients
• Based on mode of administration segmentation, inhalers were predicted to show maximum market share in the year 2021
• Based on application segmentation, pediatric was the leading application in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Growth Drivers

• Growing number of asthma patients to drive market growth

The global asthma drugs market is projected to grow owing to the increasing number of asthma patients across the globe. As described by the World Health Organization (WHO), it is a major non-communicable disease (NCD) that can affect children and adults alike. It is also described as one of the most common chronic diseases among children. As per data published on the organization’s website, more than 262 million people were affected by the diseases in 2019 and it led to the death of nearly 455,000 patients.

One of the leading causes of the disease is known to be genetic reasons. If a parent already is affected by asthma, the risk of the disease passing to the children is high. People who suffer from allergic reactions like rhinitis, also known as hay fever, or eczema are also more prone to contracting asthma.

Other factors like obesity or being overweight are also known to cause the breathing condition. More than 24.5 million US citizens are living with the condition as per the information provided by the Asthma and Allergy Foundation of America (AAFA). The number equals 1 in every 3 citizens. These factors are projected to help pharmaceutical companies dealing with asthma drugs grow further in the coming years.

Restraints

• Health concerns associated with the drugs to restrict market expansion

The condition does not have a proper cure and only the symptoms can be controlled using different forms of medication that depend on the intensity of the asthma attack. However, some beta-agonist medications are known to have side effects among patients. These effects include insomnia in children, increased nervousness, tremor, vomiting, bronchospasm, allergic reaction, cough, dry mouth, and chills amongst many other related issues. It could potentially restrict global market growth in the coming years.

Opportunities

• Growing research & development to provide growth opportunities

Healthcare and pharmaceutical companies are constantly working toward the development of new and effective drugs that could potentially help contain diseases permanently. As the research & development (R&D) activities around finding the most suitable cure grows, the global market growth will gain more momentum.

For instance, medical researchers are now studying fevipiprant drug hoping that one day they can be used to cure the disease permanently. As the studies have indicated, the drug can be consumed orally and may help resolve the condition in case of mild to severe asthma. It is currently in the final stages of study and there is no date of launch as of now.

Challenges

• Discomfort after using inhalers to act as a major challenge

Patients have often reported suffering from oral thrush, hoarse voice, or sore mouth after using inhalers. Although these issues are also mentioned in the possible side-effects leaflets that come along with the steroid-preventer inhaler, it currently stands as a major challenge for the global market players to deal with. As per recommended dose, only the inhaler can be used only 4 times in one day.

Segmentation Analysis

The global asthma drugs market is segmented based on the mode of administration, medication, application, source, and region

Based on the mode of administration, the global market divisions are injections, inhalers, tablets & capsules, sprays & powder, and liquid. Doctors recommend using inhalers because they have proven to be effective in managing the condition. Most inhalers contain steroids to treat the inflammation of the airway, The most commonly used steroid is prednisone. Other inhalers may have bronchodilator, another steroid that assists in opening up the airway. One inhaler contains around 200 pumps so a medicine lasts for 25 days at an average of 8 puffs a day.

Based on application, the global market divisions are adults, pediatric, and adolescent. The disease can occur at any point in time and across age groups from children to adults. However, asthma attacks are more common in children but have higher mortality rates in adults. In children, the prevalence percentage is around 9.4 while in adults it is around 7.7%

Recent Developments:

• In June 2022, Glenmark Pharmaceuticals announced the launch of a new fixed-dose combination (FDC) drug to treat patients with uncontrolled asthma. The new novel drug is called Indamet and is a combination of Indacaterol + Mometasone
• In December 2021, the US Food and Drugs Administration (FDA) approved Tezspire (tezepelumab-ekko), an injectable drug to help control symptoms of severe asthma. The drug is to be registered by a medical professional only and every four weeks

Report Scope

Regional Analysis

• North America to lead with the highest market share

The global asthma drugs market is projected to witness the highest growth in North America driven by the highly advanced medical infrastructure of countries like the US and Canada and a higher awareness rate about the medical condition. Detroit, Michigan is reported as the asthma capital of the world due to the high number of asthma patients, as reported by AAFA. Alaskan natives and people of American Indian origin are more at risk of contracting breathing disorders.

The regional growth could further be driven by the growing obesity rate in the country which is known to be a major triggering factor for the onset of the condition. Growth in Europe may be driven by the growing number of patients needing the medication. In 2019, around 10% and 8% percent of the Portuguese and Swedish populations respectively suffered from asthma while Sweden was at the number one position in the 2021 list of European countries with the highest asthma rate.

Competitive Analysis

• Roche
• GlaxoSmithKline
• Teva pharmaceutical
• VecturaGroup
• AstraZeneca
• Pfizer

The global asthma drugs market is segmented as follows:

By Mode Of Administration Segment Analysis

• Injections
• Inhalers
• Tablets & Capsules
• Sprays & Powders
• Liquids

By Medication Segment Analysis

• Long-Term Control Medications
• Quick Relief Medications

By Application Segment Analysis

• Adults
• Pediatric
• Adolescent

By Source Segment Analysis

• Generic
• Environmental

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America