The global severe asthma treatment market is anticipated to reach a market value of US$ 22 billion in 2023 and US$ 36.18 billion by 2033, registering a CAGR of 5.1% during that time. The rising prevalence of asthma and the abundance of treatment options both contribute to the growth of the market for severe asthma treatments. The market for severe asthma treatment registered a CAGR of 3.3% in the historical period 2018 to 2022
During the forecast period 2023 to 2033, the severe asthma treatment market is expected to grow at a value of 5.1% CAGR, according to Future Market Insights. By the year 2033, the global market for severe asthma treatment is expected to rise up to a market valuation of US$ 36.18 Billion. Growth of the market can be attributed to emergence of biologics and other targeted therapies as they have revolutionized the treatment of severe asthma, providing hope and relief for millions of people around the world who suffer from the ailment.
One of the most promising developments in the treatment of severe asthma is the emergence of biologic medications. Biologics are a class of drugs made from living organisms and can be used to target specific pathways in the immune system that cause inflammation in the airways. These medications have shown significant efficacy in clinical trials and are increasingly being used to treat people with severe asthma who do not respond well to conventional therapies.
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Some of the most commonly used biologics for severe asthma treatment include omalizumab, mepolizumab, reslizumab, benralizumab, and dupilumab. These medications are administered via subcutaneous injections or intravenous infusion and have been shown to reduce asthma exacerbations, improve lung function, and enhance overall quality of life in people with severe asthma.
Overall, the global severe asthma treatment market is expected to continue to grow in the coming years, as more people are diagnosed with severe asthma and new and innovative treatments become available.
Key Takeaways from the Market Study
- Severe asthma treatment market is expected to register a CAGR of 5.1% in the forecast period 2023-2033
- Inhaled route of administration is expected to possess 40% market share for severe asthma treatment market in 2023.
- North America is expected to possess 45% market share for severe asthma treatment market in 2023.
- Europe severe asthma treatment market size is expected to possess 39% market share in 2023.
“Advancements in treatments along with innovation of treatment options is expected to favor the growth of the market in the upcoming years.” states an FMI analyst
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Competitive Landscape
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
- GlaxoSmithKline most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Nucala (mepolizumab). Nucala 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.
- Novartis’ most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Xolair (omalizumab). Xolair is an anti-IgE monoclonal antibody that is used to treat severe allergic asthma, a type of severe asthma that is triggered by allergens such as pollen, dust mites, and animal dander.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global severe asthma treatment market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of 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, MEA)
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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
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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