The global severe asthma treatment market is expected to achieve a valuation of approximately US$ 22 billion in 2023, with projections indicating substantial growth over the next decade. The market is anticipated to accumulate a value of US$ 36.18 billion by 2033, registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2023 to 2033. The market demonstrated a CAGR of 3.3% during the historical period from 2018 to 2022.
The growth of the severe asthma treatment market can be attributed to the increasing prevalence of asthma worldwide, coupled with a wide array of available treatment options. As the incidence of severe asthma continues to rise, the demand for effective management strategies and innovative therapies is expected to grow correspondingly.
Factors contributing to market expansion include advancements in biologic therapies, increased awareness of severe asthma management, and a shift towards personalized medicine approaches. These developments are helping to improve patient outcomes and enhance the quality of life for individuals living with severe asthma.
North America currently dominates the severe asthma treatment market, supported by a well-established healthcare infrastructure, significant investments in respiratory disease research, and high patient awareness. Meanwhile, the Asia-Pacific region is emerging as a high-growth area, driven by increasing healthcare expenditures, rising prevalence of respiratory disorders, and improved access to treatment options.
As the severe asthma treatment market evolves, key industry players are expected to focus on research and development, aiming to introduce new therapies and improve existing treatment protocols. The future of the severe asthma treatment market looks promising, offering opportunities for enhanced patient care and effective management of this chronic respiratory condition.
2018 to 2022 Severe Asthma Treatment Market Demand Analysis vs. Forecast 2023 to 2033
According to market research and competitive intelligence provider Future Market Insights- the market for Severe asthma treatment reflected a value of 3.3% during the historical period, 2018 to 2022.
The market was mainly driven by the increasing prevalence of severe asthma, the development of novel biologic therapies, and the rising awareness of the disease among patients and healthcare providers. The emergence of several biologic therapies for severe asthma, such as mepolizumab, reslizumab, benralizumab, and dupilumab are expected to drive market growth. Additionally, the availability of advanced diagnostic tools for the accurate diagnosis of severe asthma is likely to further boost market growth.
Thus, the market for Severe asthma treatment is expected to register a CAGR of 5.1% in the forecast period 2023 to 2033.
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)
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
