Asthma Drugs Market size was accounted at USD 20.6 billion in 2020 and is projected to reach USD 37.3 billion by 2030, growing at compound annual growth rate (CAGR) of 5.2% during the forecast period 2021 to 2030.
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Increasing prevalence of asthma across the globe is major factor driving growth of the global asthma drugs market. Asthma is deliberated as the common chronic diseases. Increasing need for better and improved health is creating huge demand for the asthma medications which will in turn fuel growth of the global market in the near future. As per the data published by Pharmaceutical Services Negotiating Committee (PSNC), in 2016, more than 5.5 million people in the UK received asthma treatment out of which 4.3 million were adults and 1.1 million asthma patients were children.
In order to cater the growing demand for asthma drugs, key market players are repeatedly launching advanced and innovative products at minimum costs which is will support and boost growth of the asthma industry in the next 10 years. For instance, in year 2019, AstraZeneca company’s asthma drug Fasenra has been approved by the Food and Drug Administration which is a pre filled and auto injector. Additionally, in the same year GlaxoSmithKline plc.’s Nucala has been approved by the Food and Drug Administration in order to treat severe eosinophilic asthma for the children in the six to eleven year of age group. This is the only biologic approved for the younger age group. Additionally, rising R&D activities, technological advancements, government support for creating health awareness are among major factors that will augment target industry growth during the forecast time-frame.
|Market Size||USD 37.3 Billion by 2030|
|Growth Rate||CAGR of 5.2% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Medication, Mode of Administration, Source, Organization Type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||GlaxoSmithKline, Pfizer, Vectura Group, Boehringer Ingelheim, Roche, Novartis, Merck, AstraZeneca, Teva Pharmaceutical|
- Among the asthma drugs medications type segment long-term control medications segment is dominated the overall market. The growth is attributed to growing need for the long-term control medications in order to treat chronic diseases that are considered as asthma. Further the quick relief medications segment is projected register significant share in the global industry owing its increased consumer base across the globe.
- Novartis accounted for a significant share of the global asthma drugs market.
- Tablets and capsules segment is expected to hold the prime revenue share by mode of administration.
- Long-term control medications segment is expected to hold the prime revenue share by medication type.
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Overview of the Study
This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume). This report also studies global market prominence, competitive landscape, market share, growth rate, market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
It involves company databases such as Hoover’s: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and
Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews
of key industry participants. Insights from primary respondents help in validating the
secondary research findings. It also develops Research Team’s expertise and market
- Quick Relief Medications
- Long-term Control Medications
By Mode of Administration
- Tablets and Capsules
- Sprays and Powders
By Organization Type
Why should you invest in this report?
If you are aiming to enter the global Asthma Drugs market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Asthma Drugs are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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