Rising Prevalence of Asthma is Expected to Fuel Demand for Better Asthma Treatment Outcomes
Asthma is the most frequent chronic condition globally, which has increased the demand for new therapies for asthma treatment. Asthma, especially in its severe form, is a significantly debilitating condition that necessitates the prescription of asthma treatment medicines. As a result, the increasing demand for improved quality of life for patients with asthma is likely to fuel market growth. Asthma affects 8.3% of Americans, according to the American Academy of Allergy, Asthma, and Immunology (AAAAI). There are 26.5 million individuals in total, including 20.4 million adults and 6.1 million children. Rising government investments in medical research and supported actions to improve healthcare infrastructure development are also expected to boost revenue of asthma cough and other asthma symptoms. The National Institutes of Health announced the start of a new research in June 2022 to investigate monoclonal antibody therapy of asthma in children. The clinical study was initiated to investigate the use of dupilumab to enhance lung function and decrease the frequency of asthma attacks in children living in low-income urban neighbourhoods. The launch of low-cost and effective treatments is expected to boost global market growth over the forecast period.
Additionally, keeping a focus on preventive care in asthma management includes aspects such as creating awareness and educating patients on how to recognize and steer clear of triggers such as allergens, pollutants, and respiratory infections. Healthcare providers strive to decrease asthma exacerbations and hospital admissions by encouraging lifestyle changes such as regular physical activity, quitting smoking, and adhering to a nutritious diet. Enhancing symptom control is achieved by empowering patients through self-management strategies such as proper inhaler uses and following treatment plans. These preventive actions not only enhance the well-being of individuals with asthma but also reduce the strain on healthcare systems by decreasing trips to the emergency room and the necessity for intensive care treatments.
Additionally, keeping a focus on preventive care in asthma management includes aspects such as creating awareness and educating patients on how to recognize and steer clear of triggers such as allergens, pollutants, and respiratory infections. Healthcare providers strive to decrease asthma exacerbations and hospital admissions by encouraging lifestyle changes such as regular physical activity, quitting smoking, and adhering to a nutritious diet. Enhancing symptom control is achieved by empowering patients through self-management strategies such as proper inhaler uses and following treatment plans. These preventive actions not only enhance the well-being of individuals with asthma but also reduce the strain on healthcare systems by decreasing trips to the emergency room and the necessity for intensive care treatments.
Biologics for Treatment of Asthma Will Provide New Market Prospects
Biologics are pivotal element in asthma treatment, especially for patients who still have symptoms despite using controller medications regularly. These drugs come from living organism or microorganisms and are designed to focus on certain molecules that play a role in the inflammation of asthma. Biologics worked on mechanism by addressing inflammatory chemicals, antibodies, cell receptors or any other element to reduce the root causes of asthma exacerbations. Biologics can significantly decrease the occurrence and intensity of asthma exacerbations and symptoms associated with asthma, which may result in visits to the emergency room, hospital stays, and the requirement for oral steroids. This decrease doesn't just enhance clinical results but also improves the general well-being of asthma sufferers by reducing the impact of severe symptoms.
Additionally, some biological treatments have shown the great potential to improve lung function in people with severe asthma, leading to better respiratory health and symptom control. At present, there are five biologics authorized for treating asthma: mepolizumab, omalizumab, benralizumab, reslizumab, and dupilumab, all focusing on varying components of the immune reaction linked to asthma. With continuous research and development efforts, additional biologics are being studied to broaden treatment choices and enhance results for asthma patients unresponsive to standard treatments. These developments highlight the changing nature of asthma treatment, moving towards personalized and effective therapeutic strategies.
Additionally, some biological treatments have shown the great potential to improve lung function in people with severe asthma, leading to better respiratory health and symptom control. At present, there are five biologics authorized for treating asthma: mepolizumab, omalizumab, benralizumab, reslizumab, and dupilumab, all focusing on varying components of the immune reaction linked to asthma. With continuous research and development efforts, additional biologics are being studied to broaden treatment choices and enhance results for asthma patients unresponsive to standard treatments. These developments highlight the changing nature of asthma treatment, moving towards personalized and effective therapeutic strategies.
Recent Trends in Asthma Market
- Increasing use and development of biologic therapies targeting specific immune pathways involved in asthma inflammation.
- Growing integration of digital health technologies, such as smart inhalers and mobile apps, to monitor asthma symptoms, medication adherence, and provide real-time feedback.
- Adoption of precision medicine approaches to tailor asthma treatment based on individual patient characteristics, genetic profiles, and biomarkers.
- Shift towards patient-centred care models that emphasize shared decision-making, patient education, and self-management strategies.
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High Cost of Asthma Medications, Along with Undiagnosed Asthma, Will Limit Market Growth
The steep price of asthma medication creates a major obstacle for numerous patients in effectively managing their condition. Costs consist of medications like inhalers, corticosteroids, and biologic therapies, which can be very costly, especially for people who don't have sufficient insurance or live in areas with limited healthcare access. This financial strain can sometimes result in difficulties with sticking to medication regimens and obtaining essential healthcare services, ultimately impacting asthma management and worsening symptoms. Ensuring fair access to effective asthma management for all patients is essential by implementing healthcare policy reforms, expanding insurance coverage, and reducing medication costs.
However, Limited availability of healthcare services in rural or underserved regions may hinder the timely detection and management of asthma, affecting the results for patients. Individuals in these areas may encounter difficulties when trying to obtain specialized medical treatment, such as asthma experts and facilities for diagnostic testing. This could lead to delayed treatment beginning and insufficient follow-up care, worsening asthma symptoms and raising the chance of complications. Enhancing healthcare infrastructure and broadening telehealth services are crucial actions to guarantee prompt and fair access to asthma diagnosis, treatment, and ongoing care in these regions.
However, Limited availability of healthcare services in rural or underserved regions may hinder the timely detection and management of asthma, affecting the results for patients. Individuals in these areas may encounter difficulties when trying to obtain specialized medical treatment, such as asthma experts and facilities for diagnostic testing. This could lead to delayed treatment beginning and insufficient follow-up care, worsening asthma symptoms and raising the chance of complications. Enhancing healthcare infrastructure and broadening telehealth services are crucial actions to guarantee prompt and fair access to asthma diagnosis, treatment, and ongoing care in these regions.
Strategic Collaboration & Product Development by Key Players Accountable for Market Expansion
In asthma management, there is a need for new technologies and innovations for better treatment precision, improved patient adherence, and personalized care. Progress in incorporating digital health, personalized medicine, and improved delivery methods can enhance asthma management and patient quality of life by overcoming existing barriers and enhancing treatment results. For instance, in April 2024, clinical collaboration agreement between Teva and Launch Therapeutics to accelerate development of dual-action asthma rescue inhaler (ics-saba/tev-’248) respiratory program; Teva and Abingworth enter strategic development funding agreement. In addition, in January 2024, AstraZeneca announced AIRSUPRA (albuterol/budesonide), is now commercially available in the US by prescription. AIRSUPRA received FDA approval in January 2023 for the as-needed treatment or prevention of symptoms of asthma and to help prevent sudden severe breathing problems (asthma attacks) in people aged 18 years and older.
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North America Offers Lucrative Opportunity for Asthma Treatment Market
North America dominated the asthma treatment market and generated the largest revenue share. The region's market is distinguished by a high prevalence of asthma as well as increased awareness of cutting-edge and effective asthma treatments. Asthma affects roughly 26 million individuals in the United States, as reported by the Asthma and Allergy Foundation of America. This equals to around one in every thirteen individuals. For instance, the United States Environmental Protection Agency (EPA) declared May to be Asthma Awareness Month, which was established to promote awareness about the disease. These factors, along with increased patient awareness of new and emerging therapeutic options, the region's strong market growth potential due to underdiagnosis of asthmatic patients, and the existence of major biopharmaceutical companies and their strong product offerings, contribute for the region's dominant share of the global market.
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The report provides a detailed overview of the asthma treatment market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for asthma treatment market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the asthma treatment market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the asthma treatment market. Some key country and region included in the asthma treatment market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Asthma Treatment Market Research Report Covers In-depth Analysis on:
- Asthma treatment market detailed segments and segment-wise market breakdown
- Asthma treatment market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in asthma treatment industry)
- Current, historical and forthcoming 10 years market valuation in terms of asthma treatment market size (US$ Mn), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Asthma treatment market demand analysis
- Asthma treatment market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in asthma treatment market
- Regulatory landscape by key regions and key countries
- Asthma treatment market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on asthma treatment market forecast by countries
- Mergers and acquisitions in asthma treatment market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What factors are driving the growth of asthma treatment market?
The growth of the asthma treatment market is driven by increasing asthma prevalence, advancements in inhaler technology, and rising awareness about asthma management.
Which regions are expected to dominate asthma treatment market?
North America and Europe are expected to dominate the asthma treatment market due to advanced healthcare infrastructure, high asthma prevalence and strong research activities.
What are the challenges facing asthma treatment market?
Challenges include high treatment costs, side effects of medications and limited access to healthcare in developing regions, which may hinder market growth.
