Asthma Drugs Market Soars to $28.21 Billion by 2027, Fueled by Growing Demand and Promising Growth at a CAGR of 5.18% || Pfizer Inc., Roche Holding AG, Merck & Co. Inc., Bayer AG

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Asthma Drugs Global Market Report 2023 identifies the high prevalence of asthmatic disorders is the major driver for the asthma drug market's growth in the forecast period. Asthma refers to a long-term disease that causes inflammation and swelling of the airways, resulting in the narrowing of the airways that carry air from the nose and mouth to the lungs. Owing to the increase in asthma cases, there has been a surge in the identification of new asthma drugs for treating asthmatic disorders. For instance, in April 2022, according to the data conducted by the National Health Interview Survey (NHIS), 42.7% of children aged 18 or younger and 52.9% of children under the age of 5 had asthma in the United States in 2020.

The global asthma drugs market size is expected to grow from $21.97 billion in 2022 to $23.05 billion in 2023 at a compound annual growth rate (CAGR) of 4.90%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of asthma drugs market is expected to reach $28.21 billion in 2027 at a CAGR of 5.18%.

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Major competitors in the asthma drugs market are Pfizer Inc., Roche Holding AG, Merck & Co. Inc., Bayer AG, Sanofi S.A., AstraZeneca PLC., GlaxoSmithKline PLC., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Novartis International AG, Mylan N.V., Koninklijke Philips N.V, Cipla Limited, Chiesi Farmaceutici S.p.A., Sun Pharmaceutical Industries Limited.

A key trend in the asthma drugs market includes product innovations. Major companies operating in the asthma drug market are focused on developing new solutions to sustain their position in the market. For instance, in December 2021, Amgen, a US-based biopharmaceutical company, and AstraZeneca, a UK-based biopharmaceutical company, received FDA approval for their injectable drug Tezpire to alleviate the symptoms of asthma. The drug Tezpire helps to stop the inflammation that causes asthma attacks and has the potential to treat a wide range of people with severe asthma, including patients who have lacked effective treatment options in the past.

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The asthma drugs market is segmented -

• By Type Of Asthma: Allergic, Non-Allergic

• By Asthma Trigger Type: Adult-Onset Asthma, Child-Onset Asthma, Cough-Induced Asthma, Exercise-Induced Asthma, Occupational Asthma, Nocturnal Asthma, Steroid-Resistant Asthma

• By Therapy: Preventive, Curative

• By Drug Class: Bronchodilators, Monoclonal Antibodies, Anti-Inflammatory Drugs, Combination Drugs

• By End-User: Asthma Patients, COPD Patients

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Asthma Drugs market.

The Business Research Company's "Global Asthma Drugs Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Asthma Drugs Market Include:
1. Executive Summary
2. Asthma Drugs Market Characteristics
3. Asthma Drugs Market Trends And Strategies
4. Asthma Drugs Market - Macro Economic Scenario
5. Asthma Drugs Market Size And Growth
……………
27. Asthma Drugs Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Asthma Drugs Market
29. Asthma Drugs Market Future Outlook And Potential Analysis
30. Appendix

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