The global severe asthma treatment market is poised for steady growth, with an estimated valuation of US$ 22 billion in 2023. Projected to expand at a CAGR of 5.1% during the forecast period 2023 to 2033, the market is expected to reach a valuation of US$ 36.18 billion by 2033. This growth underscores the rising prevalence of asthma worldwide and the expanding availability of effective treatment options.
The increasing burden of asthma, characterized by recurrent and severe symptoms, has driven demand for advanced therapies, including biologics, inhalers, and combination treatments. Innovations in personalized medicine and the development of novel drugs targeting specific inflammatory pathways have further enhanced treatment efficacy, supporting market growth.
The historical period from 2018 to 2022 witnessed a CAGR of 3.3%, reflecting consistent progress in the availability and adoption of treatment options. The forecasted accelerated growth is attributed to heightened awareness of severe asthma management, advancements in diagnostics, and improved access to healthcare services globally.
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Key Takeaways:
- The severe asthma treatment market is projected to grow from US$ 22 billion in 2023 to US$ 36.18 billion by 2033, at a CAGR of 5.1%.
- Increasing asthma prevalence and the availability of diverse treatment options are driving market expansion.
- Biologics and targeted therapies are transforming the management of severe asthma, enhancing patient outcomes.
- The market registered a historical CAGR of 3.3% from 2018 to 2022, with growth expected to accelerate in the coming decade.
Market Drivers
- Growing Prevalence of Asthma: The rising incidence of asthma globally is driving demand for effective treatment options, particularly for severe cases that require specialized therapies.
- Wide Range of Treatment Options: The availability of various treatment modalities, including biologics and inhalation therapies, enhances patient management and supports market growth.
- Innovative Biologic Therapies: The emergence of novel biologic therapies such as mepolizumab, reslizumab, benralizumab, and dupilumab is expected to significantly contribute to market expansion.
- Increased Awareness: There is a growing awareness among patients and healthcare providers regarding the importance of effective asthma management, which is boosting the adoption of severe asthma treatments.
- Advanced Diagnostic Tools: Improved diagnostic capabilities are enabling earlier and more accurate identification of severe asthma, leading to timely interventions.
Regional Insights
- The North American region is anticipated to dominate the market due to high healthcare expenditure, advanced medical infrastructure, and significant investments in asthma research.
- Europe is expected to hold a substantial market share as well, driven by increasing diagnosis rates and the availability of innovative treatment options.
Challenges
- High Cost of Treatment: The expense associated with advanced therapies may limit accessibility for some patients, particularly in lower-income regions.
- Complexity in Management: Managing severe asthma often requires a multidisciplinary approach, which can complicate treatment plans and patient adherence.
Market Competition
Key players in the severe asthma treatment market are Teva Pharmaceutical, AstraZeneca, GlaxoSmithKline, Novartis, Sanofi, Regeneron Pharmaceutical, 4D Pharma plc, AB Pharma, Morphosys, Roche, Avalo Therapeutics, Suzhou Connect Biopharmaceuticals, Pieris Pharma, Biosion
- Teva Pharmaceutical’s most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Cinqair (reslizumab). Cinqair is an anti-IL-5 monoclonal antibody that is used to treat severe eosinophilic asthma, a type of severe asthma that is characterized by high levels of eosinophils in the blood and airways.
- AstraZeneca’s most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Fasenra (benralizumab). Fasenra is an anti-IL-5 receptor alpha monoclonal antibody that is used to treat severe eosinophilic asthma, a type of severe asthma that is characterized by high levels of eosinophils in the blood and airways.
Key Companies Profiled
- Teva Pharmaceutical
- AstraZeneca
- GlaxoSmithKline
- Novartis
- Sanofi
- Regeneron Pharmaceutical
- 4D Pharma plc
- AB Pharma
- Morphosys
- Roche
- Avalo Therapeutics
- Suzhou Connect Biopharmaceuticals
- Pieris Pharma
- Biosion
Key Segments Profiled in the Severe Asthma Treatment Industry Survey
Drug Class:
- Reslizumab
- Benralizumab
- Anti-inflammatory
Route of Administration:
- Oral
- Inhaled
- Intravenous
- Subcutaneous
Device Type:
- Dry powder inhalers
- Metered dose inhalers
- Soft mist inhalers
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa(MEA)
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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