The Global Allergic Asthma Therapeutics Market Growth Accelerated By Increasing Asthma Prevalence Rates

 

Allergic Asthma Therapeutics Market

Allergic asthma therapeutics have a wide range of medications used in its treatment and management. Medications like corticosteroids, long-acting beta-agonists (LABAs), leukotriene modifiers, short-acting beta-agonists (SABAs), mast cell stabilizers, methylxanthines, etc are used to treat symptoms, control exacerbations, and improve lung function and quality of life. The global Allergic Asthma Therapeutics Market is estimated to be valued at US$ 7.26 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

 

The prevalence rates of asthma have increased substantially globally over the past few decades due to increasing exposure to various environmental allergens as a result of growing industrialization and pollution levels. According to WHO estimates, around 262 million people currently suffer from asthma, with a predicted increase to around 400 million by 2025. Increasing prevalence of allergies and asthma is a major factor fueling the demand for various medications and therapeutics used for its treatment and management. This growth in asthma patient pool globally is expected to drive the allergic asthma therapeutics market during the forecast period.

Segment Analysis

The global allergic asthma therapeutics market is dominated by inhaled corticosteroids sub segment. Inhaled corticosteroids therapeutics are used as a first line therapy for persistent asthma as they are highly effective in reducing airway inflammation. They help to prevent symptoms such as wheezing, coughing, chest tightness and shortness of breath. Long-acting beta2-agonists (LABAs) therapeutics are in second position as they help to dilate and relax airways and make it easier to breathe. Oral corticosteroid therapeutics hold the third spot as they are prescribed for sudden breathing problems or severe asthma attacks.

 

Key Takeaways

The Global Allergic Asthma Therapeutics Market Size is expected to witness high growth. The market size is projected to increase from US$ 7.26 Bn in 2023 to US$ 13.63 Bn by 2030, at a CAGR of 7.3% during the forecast period.

 

Regional analysis: North America dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to the presence of well-established healthcare infrastructure and increasing adoption of advanced asthma therapeutics in the region. Asia Pacific is expected to witness the fastest growth rate during the forecast period, owing to rising air pollution levels, growing patient population and improving access to healthcare in emerging countries of the region.

 

Key players: Key players operating in the allergic asthma therapeutics market are Koninklijke Philips N.V., GE Healthcare, Medtronic plc, Siemens AG, Cisco Systems, Inc., Honeywell International Inc., InTouch Technologies, Inc., TeleICU Care, LLC. Koninklijke Philips N.V. is one of the leading players offering connected medical devices and telehealth solutions for remote patient monitoring and chronic disease management. GE Healthcare offers a wide range of medical devices, diagnostics, patient monitoring systems and cloud-based clinical command centers for telehealth solutions.


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https://www.newsstatix.com/allergic-asthma-therapeutics-market-size-share-growth-outlook-2023/

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