Worsening Air Pollution Levels Underscoring Growth, Creating Opportunities in Asthma Treatment Market: TMR Study

- Long-term asthma control medications will dominate growth in the market

- Availability of cost effective treatments is a notable factor leading to higher demand over the forecast period

- Increase in incidence of respiratory illnesses - result of exacerbating risk factors such as air pollution - is contributing to growth in the market

News provided by

Allied Market Research

Jul 16, 2020, 08:30 ET

ALBANY, New York, July 16, 2020 /PRNewswire/ -- Asthma is a major healthcare challenge in almost every country, notwithstanding the level of development, driving demand for effective treatments. This is set to propel the asthma treatment market on an upward growth curve. Numerous growth factors are helping it chart a sturdy trajectory. However, it is primarily driven by increase in number of asthma patients worldwide.

Transparency market Research opines, "The global asthma treatment market is set to witness a sluggish compound annual growth rate of about 2% over the forecast period of 2019 to 2027, owing to a slew of positive trends and drivers marking the landscape. These will drive the market worth from about USD 25 billion in 2018 to approximately USD 30.5 billion by 2027."

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Key Findings of Global Asthma Treatment Market Study:

On the basis of treatment type, the segment for long-term asthma control medications will hold massive sway over market share
On the basis of distribution channels, the segment for retail pharmacies will account for a major share of the market
Region-wise, North America will dominate the global asthma treatment market landscape over the forecast period

For a detailed analysis of global asthma treatment market by treatment type, route of administration, and distribution channel, visit TOC https://www.transparencymarketresearch.com/report-toc/73640

Key Drivers of Growth in Global Asthma Treatment Market:

Increase in number of asthma patients is a major growth factor in the global asthma treatment market. However, Transparency Research Market notes that this is only one of the many growth factors identified in the market. A glimpse into the trends and drivers, which are keeping the market buoyant, is provided below:

A higher adoption of combination therapies is being noted in the market landscape and this is paving way for higher growth
Novel drugs that line the landscape are contributing to increase in demand in the market in a major way
In 2016, 339 million people suffered from asthma and as risk factors continue to aggravate, the number is set to grow further
Increase in air pollution is one of the strongest risk factors, propelling the market forward; lifestyle choices such as heavy smoking is also contributing to market growth

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Regional Analysis of Global Asthma Treatment Market:

Asia Pacific (APAC) is anticipated to grow at an impressive CAGR from 2019 to 2027, North America to hold substantial market share over the stated period
Growing demand for combination therapy and presence of large number of distinguished companies will contribute to North American dominance over the period
APAC has a large pool of asthma patients in the region; growing awareness regarding advanced treatments and increase in disposable incomes are responsible for growth

Analyze global asthma treatment market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=73640

Competitive Landscape of Global Asthma Treatment Market:

Transparency Market Research has comprehensively profiled key market players in its report. Some of these include Mylan N.V., AstraZeneca plc, Boehringer Ingelheim International GmbH, F. Hoffmann-La Roche Ltd., and GlaxoSmithKline plc. Merck & Co., Inc., Novartis AG, Sanofi, Sunovion Pharmaceuticals, Inc., and Teva Pharmaceutical Industries, among others. Information on players includes business strategies and financials, recent developments and product portfolio.

The global asthma treatment market has been segmented as follows:

Asthma Treatment Market by Treatment Type

Long-term Asthma Control Medications

Combination Inhalers
Inhaled Corticosteroids
Long-acting Beta Agonists
Leukotriene Modifiers
Theophylline
Others (Reslizumab, Benralizumab, etc.)

Quick-relief (rescue) Medications

Short-acting Beta Agonists
Ipratropium (Atrovent)
Oral & Intravenous Corticosteroids

Asthma Treatment Market by Route of Administration

Inhaled
Oral
Intravenous
Subcutaneous

Asthma Treatment Market by Distribution Channel

Retail Pharmacies
Hospital Pharmacies
Online Pharmacies

Asthma Treatment Market by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia & New Zealand
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Israel
Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Asthma Spacers Market: Asthma Spacers Market was valued at US$ 1,330.56 Mn in 2017. It is expected to expand at a CAGR of 3.7% from 2018 to 2026, the global market is anticipated to be driven by technological advancements and increase in use of spacers with metered dose inhalers for the management of asthma

Pulmonary Drugs Market: The global pulmonary drugs market has been the key area of focus and the most crucial market for the healthcare industry in the last couple of years. However, the market is expected to witness a significant decline over the forecast period with a -6.3% CAGR from 2016 to 2024. The market is anticipated to fall to US$28,082.1 mn from a valuation of US$48,039.7 mn in 2015

Pediatric Asthma Treatment Market: The global pediatric asthma treatment market is driven by an increase in the incidence of asthma, rise in allergy cases, availability of advanced inhaler devices and innovative biological drugs, and growing pollution levels. Also, increase in awareness about the diagnosis of asthma and improving health care facilities are likely to drive the market.

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SOURCE Allied Market Research