The global asthma treatment market size is expected to reach USD 26.01 billion by 2028, exhibiting a CAGR of 4.5% during the forecast period. The growing incidence of respiratory diseases such of chronic obstructive pulmonary disease (COPD), chronic bronchitis, emphysema, lung cancer, asthma, and pleural effusion will spur demand for asthma treatment during the forecast period, mentioned in a report, titled “Asthma Treatment Market Size, Share & Industry Analysis, By Treatment (Long-Term Control Medications, and Quick-Relief Medications), By Route of Administration (Injectable, Oral, and Inhaled), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, and Online Pharmacies), and Regional Forecast, 2021-2028” the market size stood at USD 18.08 billion in 2019. The increasing risk of death in asthma patients amid the COVID-19 pandemic will fuel demand for pre-diagnosis, which, in turn, will aid the market. For instance, According to the Centers for Disease Control and Prevention (CDC), during the 2020-2021 coronavirus pandemic, individuals suffering from moderate to severe asthma, were at a greater risk of falling ill with acute respiratory disease.
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Rising Awareness Among Patients to Support Growth in North America
The market size in North America stood at USD 9.40 billion in 2019. The growth in the region is attributed to the rising prevalence of asthma and the awareness of advanced and efficient asthma therapeutics among patients. The market in Asia Pacific is likely to hold the largest share in the forthcoming years owing to the presence of key products in the region, For instance, the strong growth of Pulmicort, a key asthma drug in China. The increasing prevalence of chronic respiratory diseases and growing launches of key products including efficient generic asthma therapeutics is predicted to bode well for the market in Asia Pacific during the forecast period.
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September 2019: The U.S. FDA announced the regulatory approval for Nucala (mepolizumab) for the usage in children as young as the age of six, who are suffering from severe eosinophilic asthma.
The Report Lists the Main Companies in the Market:
- GlaxoSmithKline plc
- Teva Pharmaceutical Industries Ltd.
- Merck & Co., Inc.
- Mylan N.V.
- Boehringer Ingelheim International GmbH
- Genentech, Inc. (F. Hoffmann-La Roche Ltd)
- Novartis AG
- Sumitomo Dainippon
Continued. . .
NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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