Asthma Drugs Market Analysis Top Players Target Audience and Forecast to 2028

The "Asthma Drugs Market" is projected to reach US$ 34,136.10 million in 2028 from US$ 24,239.17 million in 2021; it is estimated to grow at a CAGR of 5.0 % during 2021-2028.

The report highlights trends prevailing in the market and factors driving the market growth. The asthma drug market growth is attributed to the growing environmental implications & genetic implications of air pollution, more vulnerability in specific ethnic groups, growing exposure to coarse particulate matters, and growing prevalence of physiological disorders harboring asthma. However, unmet medical needs and lack of treatment adherence hamper the asthma drug market growth.

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Companies Profiled in this report includes:

• AstraZeneca
• TEVA PHARMACEUTICAL INDUSTRIES LTD.
• GlaxoSmithKline plc
• Boehringer Ingelheim International GmbH
• Merck & Co., Inc.
• Koninklijke Philips NV
• Sanofi
• Pfizer Inc.
• Novartis AG
• Abbott

Asthma is a chronic respiratory condition marked by fluctuating airflow restriction, bronchial hyperresponsiveness, and airways inflammation. According to a review paper titled "Impact of Air Pollution on Asthma Outcomes" by Tiotiu et.al., air pollution hampered asthma outcomes in adults and children. Air pollution from traffic, nitrogen dioxide (NO2), and secondhand smoking (SHS) are all substantial risk factors for the development of asthma in children. Asthma symptoms, exacerbations, and decreased lung function can be triggered by exposure to outside pollution.

Various organic and inorganic developments have been adopted by companies in the asthma drugs market. Organic strategies adopted by the market players consist of product launches and product approvals, whereas inorganic growth strategies are acquisitions, collaboration, and partnerships. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, contributing to the overall progress of the market. Additionally, growth strategies, such as acquisitions and partnerships, help the asthma drugs market players strengthen their clientele and expand their product portfolios. A few of the significant developments made by key market players are mentioned below:

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Asthma Drugs Market Segmentation:

By Medication:
• Quick Relief Medications
• Long-term Control Medications

By Route of Administration:
• Inhaled
• Prefilled Syringe/Vials

By Distribution Channel:
• Online Pharmacies
• Hospital Pharmacies
• Retail Pharmacies and Drugstores

The COVID-19 crisis created a public health and economic crisis in many countries worldwide. The pandemic adversely affected a large percentage of the population in the first half of 2020. With the virus affecting the respiratory system primarily, individuals with respiratory disorders were at a considerably higher risk of mortality and complications. For this, various organizations such as the Centers for Disease Control & Prevention, Asthma & Allergy Foundation of America, the World Health Organization, and the European Respiratory Society published guidelines, standards, and norms for patient care, differentiation of COVID-19 from other flu-like diseases, asthma, and allergies, and steps to avoid contracting COVID-19 in an asthmatic patient. Various recommendations were also released, such as stocking up on asthma drugs to prevent the shortage of drugs for asthmatic patients.

Various organizations, such as the WHO, concluded that the risk of infection was higher in people with asthma, leading to further exacerbation of asthma. The WHO also mentions that people with asthma who appear more vulnerable to worse outcomes included those who also had chronic obstructive pulmonary disease and people with non-allergic asthma compared to allergic asthma. Older age and non-white ethnicity also appear to confer greater risk, as expected from data from the general population. The European Respiratory Society (ERS) also urged people with asthma to continue using their prescribed medications to control asthma and reduce the risk of experiencing severe COVID-19 complications, leading to an increased demand for asthmatic drugs.

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