Asthma Therapeutics Market Outlook 2024-2032:
The asthma therapeutics market size reached a value of USD 18 Billion in 2023. Looking forward, the market is expected to reach USD 22.0 Billion by 2032, exhibiting a growth rate (CAGR) of 1.9% during 2024-2032.
The market is driven by the increasing incidences of asthma and other respiratory disorders. Additionally, extensive investments in medical sciences are also propelling the market growth.
Introduction of Biologics: Driving the Asthma Therapeutics Market
The rising need for managing chronic respiratory conditions is escalating the popularity of biologics and targeted therapies. These advanced therapies, which include monoclonal antibodies targeting specific pathways involved in the inflammatory process of asthma, are reshaping the market by offering more personalized and effective treatment options. Moreover, they target specific components of the immune system that contribute to the pathophysiology of asthma. For instance, omalizumab is an anti-IgE antibody that binds to IgE, preventing it from triggering allergic reactions that can exacerbate asthma. In line with this, mepolizumab targets interleukin-5 (IL-5), a cytokine involved in the growth and activation of eosinophils, which are white blood cells that play a crucial role in the inflammation seen in some types of asthma.
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Furthermore, the efficacy of biologics in controlling severe asthma has been demonstrated in numerous clinical trials, leading to their approval by regulatory agencies and subsequent adoption in clinical practice. For example, clinical studies have shown that mepolizumab can reduce asthma exacerbations by up to 50% in patients with eosinophilic asthma. Similarly, dupilumab has been shown to improve lung function and reduce oral corticosteroid use in patients with severe asthma. These impressive outcomes have not only provided relief to patients but also driven significant interest and investment in the development of new biologics and targeted therapies, further expanding the treatment landscape. The personalized nature of biologics is another factor driving their impact on the asthma therapeutics market. Unlike traditional therapies that adopt a one-size-fits-all approach, biologics are tailored to the specific biological characteristics of individual patients. This personalization is made possible through advances in genetic and biomarker testing, which identify patients who are most likely to benefit from these targeted treatments. This precision medicine approach enhances treatment efficacy and minimizes unnecessary exposure to ineffective therapies.
Advent of Smart Inhalers: Contributing to Market Expansion
Smart inhalers are revolutionizing the asthma therapeutics market, providing significant advancements in patient adherence, disease management, and overall treatment efficacy. They are equipped with sensors and connectivity features and address these challenges by offering real-time monitoring, reminders, and detailed usage data, thus enhancing the management of asthma. One of the primary benefits of smart inhalers is their ability to improve medication adherence. Non-compliance is a significant issue in asthma management, with many patients either forgetting to take their medication or using it incorrectly. Smart inhalers, such as those developed by Propeller Health and Adherium, include built-in sensors that track each use of the inhaler. These devices can sync with mobile apps to remind patients to take their medication at the prescribed times.
In addition to adherence reminders, smart inhalers provide valuable data on inhaler use, which can be shared with healthcare providers. This data includes the frequency of use, the timing of doses, and any missed doses, giving a comprehensive overview of the patient’s adherence patterns. Healthcare providers can use this information to make informed decisions about treatment adjustments and to identify potential issues with medication use. Studies have shown that the use of smart inhalers can significantly improve medication adherence and asthma control. For example, a study published in “The Lancet Respiratory Medicine” found that patients using a smart inhaler system had better asthma control and fewer exacerbations compared to those using standard inhalers. These positive outcomes are driving increased adoption of smart inhalers among healthcare providers and patients alike. Furthermore, the cost-effectiveness of smart inhalers is an important consideration. By reducing the number of asthma exacerbations and hospitalizations, smart inhalers can lower overall healthcare costs associated with poorly managed asthma.
Increasing Diagnosis Rates:
The growing number of awareness campaigns by government bodies, improved diagnostic tools, and better access to healthcare services allow for earlier and more effective intervention, which is stimulating the market. Moreover, public health campaigns and educational initiatives have played a crucial role in raising awareness about asthma. Organizations such as the American Lung Association and the Asthma and Allergy Foundation of America actively disseminate information on asthma symptoms, triggers, and the importance of early diagnosis. These campaigns target both the general public and healthcare professionals, emphasizing the need for regular check-ups and the benefits of early detection. As a result, more individuals are seeking medical advice when experiencing respiratory issues, leading to an increase in asthma diagnoses.
The development and dissemination of improved diagnostic tools have also contributed significantly to the increasing rates of asthma diagnosis. Advances in technology have led to the creation of more accurate and accessible diagnostic methods. Spirometry, peak flow meters, and fractional exhaled nitric oxide (FeNO) testing are now more widely available and utilized in clinical settings. These tools enable healthcare providers to diagnose asthma with greater precision, identifying patients who might have been previously misdiagnosed or undiagnosed. The increased use of these diagnostic tools ensures that more individuals with asthma receive the correct diagnosis, allowing for the implementation of appropriate therapeutic strategies. Furthermore, improved access to healthcare services has facilitated higher diagnosis rates. Efforts to expand healthcare coverage and reduce barriers to medical care have made it easier for individuals to access diagnostic and treatment services. As more people gain access to medical care, the likelihood of diagnosing asthma in its early stages increases, enabling more effective management of the condition. Early diagnosis is critical for preventing the progression of asthma and reducing the risk of severe attacks, which can significantly impact a patient’s quality of life.
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Leading Companies in the Asthma Therapeutics Market:
The market research report by IMARC encompasses a comprehensive analysis of the competitive landscape in the market. Across the global asthma therapeutics market, several leading companies are at the forefront of technological advancements and application development. Some of the major players include AstraZeneca PLC, Amgen Inc., and Abbott Laboratories. These companies are investing in R&D activities to introduce novel treatment options.
AstraZeneca PLC received approval for Airsupra (albuterol/budesonide), a combination inhaler for adults designed to treat bronchoconstriction and reduce the risk of exacerbations. Additionally, AstraZeneca’s biologic Tezspire (tezepelumab) has been approved for severe asthma, notable for its broad applicability without the limitations tied to specific biomarkers like high eosinophil levels.
Abbott Laboratories enhances its medical devices and diagnostics portfolios, which indirectly support asthma management. The company’s first quarter of 2024 report highlights substantial growth in the medical devices sector, driven by innovative products and new indications. Although specific to asthma, these developments reflect Abbott’s commitment to advancing healthcare technologies that improve disease management.
In April 2024, Amgen Inc. presented new data at the American Thoracic Society (ATS) International Conference, showcasing the results of their Phase 2a COURSE trial, which evaluated Tezspire in patients with moderate to very severe chronic obstructive pulmonary disease (COPD). The study revealed a significant reduction in exacerbations, especially in patients with higher blood eosinophil counts, underscoring Tezspire’s efficacy in managing respiratory conditions beyond asthma.
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Regional Analysis:
The major markets for asthma therapeutics include North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. According to projections by IMARC, North America has the largest patient pool for asthma therapeutics while also representing the biggest market for its treatment. This can be attributed to the increasing awareness among the masses regarding the availability of effective asthma therapeutics.
Moreover, the asthma therapeutics market in North America is experiencing substantial growth driven by several key factors, including advancements in treatment options, increased prevalence of asthma, and heightened awareness and diagnosis rates. The region, comprising the United States and Canada, represents a significant portion of the global asthma therapeutics market due to its well-developed healthcare infrastructure, high healthcare expenditure, and extensive research and development activities.
Besides this, the Centers for Disease Control and Prevention (CDC) estimates that approximately 25 million Americans, including 5.5 million children, have asthma. Similarly, the Asthma Society of Canada reports that over 3 million Canadians have asthma. Increased awareness campaigns and improved diagnostic tools have led to higher diagnosis rates, ensuring that more patients receive timely and appropriate treatment. This trend has contributed to the growing demand for asthma therapeutics. Additionally, the presence of major market players such as Pfizer, AstraZeneca, and GlaxoSmithKline in the region also enhances the availability of innovative treatments.
Key information covered in the report.
Base Year: 2023
Historical Period: 2018-2023
Market Forecast: 2024-2032
Breakup by Product Type:
- Inhalers
- Dry Powder Inhalers
- Metered Dose Inhalers
- Soft Mist Inhalers
- Nebulizers
- Pneumatic Nebulizers
- Ultrasonic Nebulizers
- Mesh Nebulizers
Breakup by Treatment Type:
- Quick-Relief Medications
- Long-Term Asthma Control Medications
Breakup by Route of Administration:
- Inhalation
- Oral
- Parenteral
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
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