The latest report on ‘Asthma Treatment Market’, collated by Persistence Market Research, offers a deep dive into market dynamics, size, revenue estimations and growth rate. In addition, the report illustrates the key obstacles and innovative growth strategies adopted by leading manufacturers having a stronghold in the global market.
Asthma is a chronic inflammatory lung disease. Asthma affects personnel in all ages but mostly starts in childhood. Asthma creates inflammation in the inside walls of airways which makes airways very sensitive for the allergic reaction. Asthma may be caused due to genetic, environmental factors or combination of both. Almost all asthma sufferers have allergies. Some of the allergens are house dust mites in carpets, bedding and furniture, pet dander, pollens, moulds, air pollution, tobacco smoke, chemical irritants in the workplace and others.
Some of the symptoms of asthma are coughing, wheezing, trouble in breathing and chest tightness. On the basis of class of drug, asthma market can be segmented into bronchodilators, mast cell stabilizers, leukotriene antagonists, immunosuppressants and combination of ICS/LABA. Asthma can be classified into four categories include exercise included asthma, childhood asthma, allergic asthma and occupational asthma. Some of the medication for asthma treatment includes short-acting beta2-agonists, oral corticosteroids, methyxanthines, long-acting bronchodilators, monoclonal antibodies, mast cell stabilizers, leukotriene modifiers and inhaled corticosteroids.
North America, followed by Europe, has the largest market for asthma treatment due to developed healthcare infrastructure, drug innovation and rise in aging population. In addition, technological advancement for the treatment of asthma and rise in asthma patients in this region are driving the North American asthma treatment market. Asia is expected to experience high growth rate in the asthma treatment market in next few years due to growing asthma patients, increasing disposable income, rise in environmental pollution, increasing number of smokers and developing healthcare infrastructure in the region.
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Increasing incidence of asthma cases, advanced inhaler devices, innovation in biological drugs, rise in the death rates, increasing pollution level, growing aging population are expected to drive the market for asthma treatment, In addition, increasing population of smokers, rise in disposable income, increasing awareness about the benefits of timely diagnosis of asthma and growing demand for better healthcare facilities are expected to drive the market for asthma treatment. However, increasing number of patent expiration of drugs, rise in use of generic drugs and high cost of asthma treatment are some of the major factors restraining the growth for global asthma treatment market.
Growing demographics and economies in the developing countries such as India and China is expected to lead the growth in asthma treatment market in Asia. In addition, demand for novel biologic drugs for asthma treatment, rise in need for personalized therapies to control severe asthma, increasing focus on contract manufacturing outsourcing (CMO), rise in awareness about the benefits of timely diagnosis and equipments available in the market for the detection of asthma and need for low cost of asthma therapies are expected to offer new opportunities for global asthma treatment market. Increasing number of mergers and acquisitions, rise in number of collaborations and partnerships, rise in popularity of combination therapies and new product launches are some of the latest trends that have been observed in global asthma treatment market.
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Some of the major companies operating in the global asthma treatment market are :
- Merck & Co.
- Chiesi Farmaceutici
- Novartis AG and F. Hoffmann-La Roche.
- Reddy’s Laboratories
- Orchid Chemicals and Pharmaceuticals
- Abbott and Pfizer