According to a report by TechSci Research titled “Asthma Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F,” the global asthma treatment market is projected to experience growth throughout the forecast period of 2024-2028. This growth can be attributed to the increasing awareness of the profound impact of asthma worldwide.
Multiple factors are propelling the global asthma treatment market forward. These include the rising prevalence of asthma, the demand for biologic therapies, and technological advancements. Biologic therapies are targeted treatments that address specific underlying mechanisms of asthma and are gaining popularity due to their notable effectiveness and reduced side effects when compared to traditional asthma medications. Furthermore, governmental initiatives aimed at enhancing asthma management and reducing healthcare expenses are fostering a demand for efficient asthma treatments. These initiatives encompass improving healthcare accessibility, raising asthma awareness, and supporting research and development efforts within the field.
The United States government has implemented the National Asthma Control Program (NACP), which seeks to alleviate the burden of asthma through education, research, and access to high-quality care. Additionally, the growing awareness and efficacy of asthma treatment medications are contributing to the expansion of the global asthma treatment market. These factors are anticipated to continue driving market growth in the years ahead.
The global asthma treatment market can be segmented based on drug class, mode of administration, distribution channel, and region.
Based on drug class, the market can be divided into:
– Short-acting beta-agonists (SABA)
– Long-acting beta-agonists (LABA)
– Inhaled corticosteroids (ICS)
– Leukotriene modifiers
– Combination drugs
The inhaled corticosteroids (ICS) segment is expected to dominate the market due to its high efficacy in reducing airway inflammation and enhancing lung function in individuals with asthma. Combination drugs, which amalgamate two or more medications, are favored for their convenience and effectiveness in managing asthma symptoms. ICS are accessible in various formulations and delivery devices, making them convenient and easily approachable for patients. They can be administered through metered-dose inhalers (MDIs), dry powder inhalers (DPIs), or nebulizers, either individually or in conjunction with other medications. The favorable safety profile and minimal serious adverse effects when used as directed contribute to the popularity of ICS for long-term asthma management. Thus, the inhaled corticosteroids segment is expected to maintain its dominance in the global asthma treatment market.
Based on mode of administration, the market can be divided into:
– Oral medications
The inhalers segment is anticipated to lead the market in the foreseeable future. Inhalers offer a common and convenient method for delivering medication directly to the lungs, proving highly effective in addressing asthma symptoms. Available in diverse formulations such as inhaled corticosteroids, short-acting beta-agonists, long-acting beta-agonists, and combination drugs, inhalers present a versatile solution for asthma management. They deliver swift relief from symptoms like wheezing, coughing, and breathlessness, which is crucial during asthma attacks. Their compact size, portability, and ease of use make them practical for home, work, and on-the-go usage. This user-friendly nature promotes adherence to treatment plans, a pivotal aspect of long-term asthma management. Consequently, inhalers are projected to be the driving force behind the growth of the asthma treatment market across regions, positioning them as the dominant choice in the global market.
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Major companies operating in global asthma treatment market are:
- GlaxoSmithKline, Plc
- AstraZeneca Plc
- Teva Pharmaceutical Industries Ltd.
- Boehringer Ingelheim Gmbh
- Merck & Co. Inc
- Norvartis AG
- Sanofi SA
- Roche Holding AG
- Regeneron Pharmaceutical Inc.
- Pfizer Inc
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“Global asthma treatment market is rapidly evolving, with significant increasing awareness among different regions. With advances in technology and genetics, there is growing interest in developing personalized medicine approaches for asthma treatment. This involves tailoring treatment regimens to the specific needs and characteristics of each individual patient, which can lead to more effective and efficient treatment. In asthma treatment the dominating Inhalers are available in a wide range of formulations. The market is dominated by inhalers as they are more cost-effective than nebulizers or oral medications, particularly for long-term use. As more consumers become aware of these factors, the market is likely to gain more popularity. Companies are investing in research and development to improve these materials and make them more competitive in the market. Educating patients on proper asthma management techniques and promoting self-management strategies is becoming increasingly important in asthma treatment. This can improve treatment adherence, reduce the risk of exacerbations, and improve overall quality of life for patients with asthma. The increasing partnerships between public and private sectors bodies well for the future of the asthma treatment market, with several medications and improved technologies are to be expected to create lucrative opportunities for the global asthma treatment market growth.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asthma Treatment Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Drug Class (Short-Acting Beta-Agonists (SABA), Long-Acting Beta-Agonists (LABA), Inhaled Corticosteroids (ICS), Leukotriene Modifiers, Immunomodulators, Combination Drugs, Others), By Mode of Administration (Inhalers, Nebulizers, Oral Medications), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Region and Competition”, has evaluated the future growth potential of Global Asthma Treatment Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Asthma Treatment Market.
Our Free Sample Report Consists of the following:
– Overview of the global asthma treatment market
– Key trends and insights
– Segment-wise analysis
– Regional outlook
Key questions answered in this report:
– What are the driving factors behind the growth of the global asthma treatment market?
– Which drug classes are expected to dominate the market in the coming years?
– What are the key modes of administration that will shape the market’s trajectory?
– How are governmental initiatives and awareness campaigns impacting the market?
– What is the potential impact of the National Asthma Control Program (NACP) on asthma treatment?
– How are technological advancements influencing the development of asthma treatment options?
– What are the prospects for the global asthma treatment market in the upcoming years?
About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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