Allergic Asthma Therapeutics Market Witnessing Significant Growth Due to Increasing Prevalence of Respiratory Disease

Asthma is a condition in which an individual's airways become narrow, inflamed, and produce extra mucus, making breathing difficult. Allergic asthma, or allergy-induced asthma, is caused by an allergic reaction. One of the major factor driving the allergic asthma therapeutics market growth is the increasing incidence or prevalence of respiratory diseases worldwide. According to the World Health Organization (WHO), asthma is a major noncommunicable disease (NCD), affecting both children and adults. In 2019, asthma affected an estimated 262 million people and caused 461000 deaths, worldwide. Thus, there is an increasing demand for allergic asthma therapeutics all around the world, driving the market growth.

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People start feeling symptoms after inhaling an allergen such as pollen. Symptoms of allergic asthma are the same as non-allergic asthma, such as wheezing, coughing, difficulty breathing, tightness of the chest, and others. Thus, with an increase in pollution levels, the prevalence of respiratory diseases is also increasing. According to WHO, every year, ambient air pollution accounts for an estimated 4.2 million deaths due to stroke, heart disease, lung cancer, acute and chronic respiratory diseases. This in turn is also expected to increase the demand for allergic asthma therapeutics, driving the growth of the allergic asthma therapeutics market.

For example, in May 2019, ASLAN Pharmaceuticals announced that it has amended its license agreement with CSL Limited (CSL) to develop, manufacture, and commercialize ASLAN004 in all indications. ASLAN004 helps in triggering the symptoms of allergic asthma such as wheezing, shortness of breath, coughing, and exacerbations of the disease. Asthma symptoms that start in childhood can disappear later in life. However, sometimes, a child's asthma goes away temporarily, only to come back a few years later. But other children, those with severe asthma, never outgrow it. This in turn is also expected to augment the growth of the allergic asthma therapeutics market.

In terms of geography, growth of the allergic asthma therapeutics market, in North America, is mainly driven by the increasing prevalence of respiratory diseases, such as asthma, in this region. According to the Asthma and Allergy Foundation of America, around 25 million people (1 in 13) in the United States have asthma. This in turn is expected to increase the demand for allergic asthma therapeutics in this region. Allergic asthma cannot be cured. However, the right treatment can help reduce the impact of the condition, minimizing the main symptoms.

Furthermore, lack of awareness about novel drugs and increasing usage of generic drugs, in rural areas of the Asia Pacific and Africa, are two major factors restraining the growth of the allergic asthma therapeutics market.

Global Allergic Asthma Therapeutics Market - Competitive Landscape

Key players operating in the global allergic asthma therapeutics market are Aslan Pharmaceuticals Pte. Ltd., Baxalta Incorporated, Axikin Pharmaceuticals, Chiesi Farmaceutici SpA, CSL Limited, Circassia Pharmaceuticals Plc, Fountain Biopharma Inc., Hydra Biosciences, GlaxoSmithKline Plc, Infinity Pharmaceuticals, Mabtech Limited, Kineta, Marinomed Biotechnologie Gmb, NeoPharm Co., Mycenax Biotech Inc., Panacea Biotec Limited, and Oxagen Limited.

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