Severe Asthma Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: May 08, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
CAGR |
4.8% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Treatment Type, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global severe asthma treatment market is expected to register a revenue CAGR of 4.8% during the forecast period from 2023 to 2031.
Severe Asthma Treatment Market Fundamentals
Severe asthma is a type of asthma that is difficult to control and manage with standard treatment. It is characterized by persistent symptoms such as shortness of breath, wheezing, chest tightness, and coughing despite high-dose inhaled corticosteroids and other asthma medications. According to the Global Initiative for Asthma (GINA), it is estimated that up to 10% of people with asthma have severe asthma. Severe asthma can be classified into subtypes based on the underlying causes or clinical features. For example, some people with severe asthma have a type of asthma called eosinophilic asthma, characterized by elevated levels of a type of white blood cell called eosinophils in the airways. Other people may have non-eosinophilic asthma, which does not involve elevated levels of eosinophils. The severe asthma treatment market is a growing sector within the pharmaceutical industry, as there is an increasing demand for effective treatments for severe asthma.
The global severe asthma industry analysis report comprehensively analyzes the market, with factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the severe asthma treatment market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the severe asthma treatment Market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other valuable information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
Severe Asthma Treatment Market Dynamics
Due to several factors, the severe asthma treatment market is expected to grow in the coming years. Globally, the prevalence of severe asthma is rising because of things like air pollution, environmental changes, and alterations in lifestyle. The need for powerful severe asthma medications is anticipated to rise. Since biological drugs offer targeted therapy with fewer side effects than conventional treatments, they play an increasingly significant role in managing severe asthma. It is anticipated that improvements in biological drug research will result in more potent treatments for severe asthma. Globally, governments and regulatory bodies are taking action to promote the creation of innovative medicines for severe asthma. More potent medications for treating severe asthma are anticipated to be approved because of this.
However, despite growing awareness of severe asthma, many patients may still be undiagnosed or misdiagnosed. This can limit the growth of the global severe asthma treatment market.
Severe Asthma Treatment Market Ecosystem
Severe Asthma Treatment Market, by Treatment Type
Severe Asthma Treatment Market by Treatment Type
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The biologic drugs segment is projected to record a high revenue CAGR in the global severe asthma treatment market. Biologic drugs are a particularly promising area of growth within the severe asthma treatment market, as they offer targeted treatment for patients with specific types of severe asthma. For example, anti-IL-5 antibodies are effective in treating patients with severe eosinophilic asthma, while anti-IL-4 and anti-IL-13 antibodies may be effective in treating patients with severe allergic asthma.
The market segmentation sections provide the severe asthma treatment market outlook in terms of the demarcation of different consumer groups. Market segmentation is the split of industry into subgroups depending on characteristics such as treatment type and region. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential severe asthma treatment market demand opportunities.
Severe Asthma Treatment Market by Region
North America has a significant global severe asthma treatment market revenue share. This is because of a high prevalence of severe asthma and a large population with access to healthcare. The United States is North America's largest market for severe asthma treatment, followed by Canada. It is anticipated that factors including rising awareness of severe asthma, rising demand for biologic medications, and supportive government initiatives will propel the market. Anti-IL-5 antibodies and anti-IL-4/IL-13 antibodies are two biological medications that have been authorized for the treatment of severe asthma in the United States. The market for these medications is anticipated to expand due to rising patient awareness, advantageous reimbursement practices, and mounting clinical evidence of their effectiveness. Up to 250,000 Canadians are thought to have severe asthma, according to Asthma Canada's annual report for 2022. The Canadian government has taken steps to improve access to biologic drugs for severe asthma, including listing them on the public drug plan and implementing special authorization criteria to ensure appropriate use.
Based on the regions, the global severe asthma treatment market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of severe asthma industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level severe asthma treatment market overview.
Key Components of the Report
Severe Asthma Treatment Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Severe Asthma Treatment Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Severe asthma is a form of the disease that is challenging to manage and control. Despite using large doses of inhaled corticosteroids and other asthma treatments, it is characterized by persistent symptoms such as coughing, wheezing, chest tightness, and shortness of breath.
North America is projected to register the largest severe asthma treatment market size during the forecast period from 2023 to 2031.
The global severe asthma is expected to grow at 4.8% revenue CAGR during the forecast period from 2023 to 2031.
One of the most prominent trends in the severe asthma industry is the development of biologic medications. Biologics are a type of medication that is designed to target specific pathways involved in the development of asthma, such as eosinophilic inflammation.
Companies are investing heavily in researching and developing novel therapeutics to treat severe asthma.
Asia Pacific region is likely to grow at high revenue CAGR during the forecast period from 2023 to 2031.
AstraZeneca PLC, GlaxoSmithKline PLC, Teva Pharmaceutical, Novartis AG, and Sanofi S.A. are a few key players in the global severe asthma treatment market.
While some biomarkers can be used to identify specific subtypes of severe asthma, there is still a need for more reliable and accurate biomarkers to guide treatment decisions. This is a major challenge in developing precision medicine approaches to severe asthma treatment.
The biologic drugs segment has the highest global severe asthma treatment market revenue share.
*Insights on financial performance are subject to the availability of information in the public domain