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Asthma Therapeutics Market Analysis

  • Report ID: GMI8394
  • Published Date: Mar 2024
  • Report Format: PDF

Asthma Therapeutics Market Analysis

Based on drug class, the asthma therapeutics market is categorized into combination therapies (ICS/LABAs), long-acting beta agonists (LABAs), short-acting beta agonists (SABAs), inhaled corticosteroids (ICS), oral and intravenous corticosteroids, leukotriene modifiers, and other drug classes. The combination therapies (ICS/LABAs) segment accounted for the majority share and was valued at over USD 6.6 billion in revenue in 2023.

  • Combination therapies featuring ICS and LABAs leverage the synergistic effects of these two classes of medications. Inhaled corticosteroids mitigate airway inflammation, while long-acting beta-agonists promote bronchodilation. The combined action addresses both components of asthma pathophysiology, providing comprehensive relief to patients and contributing to the effectiveness of the treatment.
  • Additionally, the versatility of combination therapies allows for personalized treatment strategies. Healthcare professionals can tailor the dosage and combination ratio based on the severity and specific characteristics of an individual's asthma. This flexibility ensures that patients receive a treatment plan optimized for their unique needs, fostering a more personalized and effective approach to asthma management.

Based on treatment type, the asthma therapeutics market is categorized into long-term asthma control medications and quick-relief (rescue) medications. The long-term asthma control medications accounted for the majority share and were valued at over USD 14.8 billion in revenue in 2023.

  • Long-term asthma control medications are designed to provide ongoing management of symptoms, ensuring sustained relief for individuals with asthma. By addressing underlying inflammation and bronchoconstriction, these medications contribute to the consistent control of asthma, minimizing the impact of day-to-day challenges associated with the condition.
  • A key attribute of long-term control medications is their effectiveness in preventing asthma exacerbations. By maintaining airway stability and reducing the risk of acute episodes, these medications significantly contribute to the overall well-being of asthma patients. This preventive aspect enhances patient quality of life and reduces the burden on healthcare systems.
  • Moreover, inhaled corticosteroids, a common component of long-term control medications, play a central role in reducing airway inflammation. This anti-inflammatory action not only addresses the root cause of asthma but also fosters a sustained improvement in lung function. The consistent use of long-term control medications contributes to the long-term suppression of inflammation. Therefore, the ongoing evolution of long-term asthma control medications has led to increased adoption of asthma therapeutics resulting in market expansion.

Based on the route of administration, the asthma therapeutics market is segmented into inhaled, oral, and injectable. The inhaled segment is anticipated to reach USD 20 billion by 2032.

  • Inhaled medications enable targeted delivery directly to the airways, allowing for rapid and effective action at the site of inflammation and bronchoconstriction. This targeted approach enhances the therapeutic efficacy of medications, providing swift relief from symptoms and optimizing the management of acute and chronic aspects of asthma.
  • The inhaled route of administration minimizes systemic side effects, a crucial advantage in asthma treatment. By delivering medications directly to the lungs, the risk of widespread systemic absorption and associated side effects is reduced. This characteristic not only enhances the safety profile of inhaled therapies but also improves patient tolerance and adherence.
  • The user-friendly nature of inhaled therapies makes them highly accessible and convenient for patients. Inhalers, nebulizers, and dry powder devices provide easy and efficient administration, empowering patients to self-manage their condition. This patient-friendly approach enhances medication adherence and fosters a sense of control over asthma symptoms, contributing to the overall market progress.

Based on distribution channel, the asthma therapeutics market is segmented into brick & mortar, hospital pharmacies, and e-commerce. The brick & mortar segment held the leading revenue share in 2023 and is anticipated to reach USD 16.4 billion by 2032.

  • The dominance of brick-and-mortar entities is amplified by their role in patient education and counselling. Pharmacists and healthcare professionals at these establishments provide valuable information to asthma patients regarding proper medication usage, adherence, potential side effects, and lifestyle management. This educational component contributes significantly to the overall effectiveness of asthma therapeutics.
  • Moreover, for individuals experiencing acute asthma symptoms or exacerbations, brick-and-mortar pharmacies offer immediate access to rescue medications. The availability of short-acting beta-agonists and other rescue inhalers ensures that patients can promptly address sudden onset symptoms, contributing to the prompt management of asthma exacerbations.
  • Furthermore, pharmacies within brick-and-mortar establishments provide a diverse array of asthma therapeutics, ranging from prescription medications to over-the-counter options. This diversity accommodates the varied needs of individuals with asthma, offering tailored solutions and contributing to the market growth of asthma therapeutics.

Asthma Therapeutics Market, By End-use (2023)

Based on end-use, the asthma therapeutics market is segmented into hospitals & clinics, ambulatory surgical centers, and homecare settings. The homecare settings segment accounted for USD 13.4 billion in revenue in 2023.

  • The dominant market share held by homecare settings is reinforced by the convenience and accessibility it offers. Patients can administer asthma therapeutics from the comfort of their homes, eliminating the need for frequent visits to healthcare facilities. This convenience not only enhances the overall patient experience but also ensures consistent and timely administration of medications.
  • The widespread adoption of inhaler devices and smart technologies has been instrumental in promoting self-administration. Inhalers, whether metered-dose inhalers (MDIs) or dry powder inhalers (DPIs), provide a user-friendly and portable means for individuals to self-administer asthma medications. Integration with smart technologies enhances medication adherence through features such as reminders, tracking, and data connectivity.

North America Asthma Therapeutics Market, 2020- 2032 (USD Billion)

North America asthma therapeutics market accounted for USD 10.2 billion in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline. The region's prominence is marked by a convergence of factors, including robust healthcare infrastructure, extensive research and development initiatives, and a high prevalence of ocular inflammatory conditions.

  • The dominance of North America in asthma therapeutics is propelled by its leadership in research and development initiatives. Academic institutions, pharmaceutical companies, and research centers across the region actively contribute to the discovery of novel treatment modalities, innovative drugs, and advanced technologies, shaping the trajectory of asthma therapeutics globally.
  • Moreover, North America witnesses a high prevalence of asthma cases, with diverse demographic and environmental factors contributing to the burden of respiratory conditions. For instance, according to the Asthma and Allergy Foundation of America, in 2023, more than 27 million people in the U.S. had asthma. This elevated incidence amplifies the market demand for asthma therapeutics, as healthcare providers work diligently to address the diverse needs of individuals grappling with asthma in the region.
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global asthma therapeutics industry size was USD 25.7 billion in 2023 and is estimated to reach USD 37.8 billion by 2032, attributed to the growing prevalence of asthma and rising expenditure on the R&D of novel biologics.

The long-term asthma control medications treatment type segment in the market reached over USD 14.8 billion in 2023 and is poised to grow rapidly by 2032, due to their role to provide management of symptoms for ensuring sustained relief for individuals with asthma.

North America asthma therapeutics industry accounted for USD 10.2 billion in revenue in 2023 and is predicted to witness substantial growth over 2024 to 2032, driven by a robust healthcare infrastructure and extensive R&D initiatives.

AstraZeneca, Boehringer Ingelheim, Cipla Ltd., Covis Pharma, GSK plc, Merck & Co., Inc., Novartis Pharmaceuticals Corporation, Regeneron Pharmaceuticals, Inc., Sanofi, Teva Pharmaceutical Industries Ltd. are some of the major industry contenders.

Asthma Therapeutics Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 363
  • Countries covered: 22
  • Pages: 200
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