The global severe asthma treatment market is projected to experience significant growth, with an estimated market value of USD 22 billion in 2023. By 2033, the market is expected to accumulate a value of USD 36.18 billion, registering a compound annual growth rate (CAGR) of 5.1% over the forecast period from 2023 to 2033. This growth follows a 3.3% CAGR recorded during the historical period from 2018 to 2022.
The increasing prevalence of asthma worldwide, coupled with the wide availability of advanced treatment options, is the key factor driving this market expansion. Severe asthma, a more complex and persistent form of asthma, requires targeted treatment options that have seen rapid advancement in recent years.
The growth in the severe asthma treatment market is driven by the increasing prevalence of asthma and the broad range of treatment options available. Advances in medical research and development, along with improved treatment modalities, are contributing to the market’s expansion.
Some of the most commonly used biologics for severe asthma treatment are omalizumab, mepolizumab, reslizumab, benralizumab, and dupilumab. These medications have been found to improve lung function, reduce asthma exacerbations, and improve overall quality of life in severe asthma patients when administered subcutaneously or intravenously.
The global Severe Asthma Treatment market is predicted to develop in the future years as more people are diagnosed with severe asthma and more breakthrough medications become available.
Key Takeaways:
- The market for Severe Asthma Treatment is expected to increase at a 5.1% CAGR between 2023 and 2033.
- In 2023, it is expected that the inhaled route of administration would account for 40% of the severe asthma therapy market.
- North America is expected to retain 45% of the market for severe asthma therapy in 2023.
- Europe’s market for Severe Asthma Treatment is expected to account for 39% of the total by 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
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’s discovery and marketing of a biologic drug called Nucala has been one of the company’s most significant breakthroughs in the treatment of severe asthma (mepolizumab). Nucala is an anti-IL-5 monoclonal antibody that is used to treat severe eosinophilic asthma, which is characterised by high eosinophil levels in the blood and airways.
- Novartis’ most major contribution to the treatment of severe asthma (omalizumab) has been the development and commercialization of a biologic medication called Xolair. Xolair is a monoclonal anti-IgE antibody that is used to treat severe allergic asthma caused 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.
Key Segments:
Drug Class:
- Reslizumab
- Benralizumab
- Anti-inflammatory
Route of Administration:
- Oral
- Inhaled
- Intravenous
- Subcutaneous
Device Type:
- Dry powder inhalers
- Metered dose inhalers
- Soft mist inhalers
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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