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.
- Vectura Group
- Boehringer Ingelheim
- Teva Pharmaceutical
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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.
Key Points of the Global Asthma Drugs Market Report:
The report provides a basic overview of the Asthma Drugs industry including its definition, applications, and manufacturing technology.
The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value up to ‘2030 year’, along with the market shares for each company.
Through the statistical analysis, the study depicts the global market for Asthma Drugs including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
Considering segmentation, the market is divided in terms of product, end-use, company, region, and other important aspects. Each of these categories forms an important base point for the competitive landscape analysis.
The report then estimates the market development and trends of the Asthma Drugs industry up to 2030.
The report hints at crucial information associated with new market developments being undertaken in the Asthma Drugs industry before evaluating its feasibility.
- Quick Relief Medications
- Long-term Control Medications
By Mode of Administration
- Tablets and Capsules
- Sprays and Powders
By Organization Type
Reasons to Purchase this Report:
Estimates Asthma Drugs development trends with SWOT analysis
Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
Market dynamics scenario, along with growth opportunities for players in the years to come
Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
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