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Asthma Therapeutics Market Trends

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

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Asthma Therapeutics Market Trends

The asthma therapeutics industry is undergoing a transformative phase fuelled by technological advancements that are reshaping the landscape of asthma management, offering innovative solutions that enhance diagnostics, treatment efficacy, and patient outcomes.

Technological advancements have given rise to smart inhalers and digital inhalation devices, transforming the way individuals administer and monitor their asthma medications. These therapeutic respiratory devices are equipped with sensors and connectivity features that track medication usage, provide real-time feedback, and enable healthcare professionals to remotely monitor patient adherence. Smart inhalers enhance treatment adherence and contribute to more effective asthma management.
Moreover, the integration of telemedicine and remote monitoring technologies is revolutionizing asthma care by offering virtual consultations and continuous patient monitoring. Patients can communicate with healthcare providers, receive personalized treatment plans, and have their asthma symptoms remotely assessed. Telemedicine enhances accessibility to healthcare services, particularly for individuals with asthma in remote or underserved areas.
Furthermore, advancements in genomics and biomarker discovery are driving the shift towards personalized medicine in asthma therapeutics. By analyzing genetic profiles and identifying specific biomarkers associated with asthma subtypes, researchers can tailor treatment strategies to individual patients. This precision medicine approach aims to optimize therapeutic outcomes by addressing the unique genetic and molecular characteristics of each patient.

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.