Asthma Therapeutics Market is anticipated to reach USD 22.4 billion by 2028 at a CAGR of 5.2% during the forecast period
The Global Asthma Therapeutics Market is anticipated to grow at a CAGR of 5.2% during the forecast period and reach USD 22.4 billion by 2028.
The growing amount of pollution faced by the population, children today grow up with less exposure to infection compared to their ancestors making their immune system poor and sensitive and lifestyle changes are the factors that have greatly affected the demand for asthma medicines. Due to the high incidence of such diseases and the significant increase within the population of smokers, asthma affects the economy of certain nations such as the U.S. and China mainly.
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What is Asthma?
Asthma is a lung disorder in which inflammation causes the bronchi to swell and narrow down the airways resulting in breathing difficulties that can be a small number of cases or life-threatening. Its symptoms are cough, shortness of breath, tightness of chest and wheezing.
Key Factors Impacting the Growth of Asthma Therapeutics Market:
o Growing prevalence, growing environmental pollution, promising late-stage pipeline molecules, introducing new innovations and the expected use of personalized medicine will drive market growth over the projected time period.
o Investment by government agencies and private organisations, growing awareness of healthcare and economic development in some countries are key drivers of market growth for the asthma therapy sector.
o Factors such as the patent expiry of new medications and disease underdiagnoses have a negative impact on the development of the market for asthma therapies.
o The asthma therapeutics market segmentation is based on drugs, devices, route of administration, and region.
Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market.
Based on the region, North America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Rest of the World segmented the global asthma therapeutics market. North America holds a dominant position in the global market for asthma therapy as regards revenue.
Dominance of the region is due to the escalating rate of asthma incidence, increased awareness of treatment options, and the growing acceptance of inhaled therapy are some of the major factors attributing the region’s largest share of revenue.
The European market is set to see steady growth mainly due to the presence of a significantly developed pharmaceutical industry and growing demand for asthma-related therapies.
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With the growing geriatric population, which is prone to developing respiratory disorders like asthma, regional market growth in the U.S. can be supported.
Segmentation for better understanding of this market and its growth prospects:
Generic erosion of the leading asthma treatment brands, such as Advair and Symbicort, high level of disease heterogeneity, lack of patient knowledge of standard therapies, and expensive asthma treatment medications could curb market growth.
This report also includes the profiles of key market companies in Asthma Therapeutics, as well as their SWOT analysis and market strategies. Additionally, these competitive landscapes provide a detailed description of each company including future capabilities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments and other latest industrial developments.
This report provides:
1) An overview of the global market for Asthma Therapeutics Market and related technologies.
2) Analysis of global market trends, yearly estimates and annual growth rate projections for compounds (CAGRs).
3) Identification of new market opportunities and targeted consumer marketing strategies for Global Asthma Therapeutics Market.
4) Analysis of R&D and demand for new technologies and new applications
5) Extensive company profiles of key players in industry.
The researchers have studied the market in depth and have developed important segments such as product type, application and region. Each and every segment and its sub-segments are analyzed based on their market share, growth prospects and CAGR. Each market segment offers in-depth, both qualitative and quantitative information on market outlook.
With an emphasis on both organic and inorganic growth strategies there have been several primary developments done by major companies like AstraZeneca Plc, Philips Healthcare, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline Plc, Sanofi-Aventis SA, CareFusion Corporation, Sunovion Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, Roche Diagnostics, and Merck & Co., Inc.
Market Segmentation:
By Drug
o Anti- Inflammatory
o Bronchodilators
o Combination Therapy
By Device
o Inhalers
o Dry Powder
o Metered Dose
o Soft Mist
o Nebulizers
By Route Of Administration
o Oral
o Inhaled
o Intravenous
o Subcutaneous
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Drug
o By Device
o By Route Of Administration
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, The Netherlands, Rest of Western Europe)
o By Drug
o By Device
o By Route Of Administration
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Drug
o By Device
o By Route Of Administration
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Drug
o By Device
o By Route Of Administration
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Drug
o By Device
o By Route Of Administration
o Rest of the World
o By Region (South America, Africa)
o By Drug
o By Device
o By Route Of Administration
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