Allergic Asthma Therapeutics Market, By Drug Type (Corticosteroids, Bronchodilators, Leukotriene modifiers, Immunotherapy, Biologics, and Others), By Route of Administration (Oral, Inhaled, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jul 2023

Code : CMI4019

Pages :220

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges And Opportunities

Global Allergic Asthma Therapeutics Market– Drivers

High prevalence of respiratory diseases

Increasing prevalence of respiratory diseases is expected to the growth of global allergic asthma therapeutics market over the forecast period. For instance, in June 2020, according to the Global Asthma report 2022, the Global Burden of Disease Study (GBD) estimated that in 2020, there were 262 million people affected by asthma, equating to an age-standardized rate of 3,416 cases per 100,000 population.

Increasing awareness about the asthma treatment

Increasing awareness about the asthma treatment is expected to drive the market over the forecast period. For instance, on May 02 2023, Alkem Labs, an India-based multinational pharmaceutical company, has announced the launch of its awareness campaign #RelieverFreeIndia to raise awareness about asthma among physicians and asthma patients. The company statement informed, “This campaign aims to spread awareness of the hazards of over-usage of reliever medications and substitute it with SMART therapy i.e., needing only one inhaler for both ‘daily’ and ‘reliever’ asthma treatment.”

Global Allergic Asthma Therapeutics Market: Restraints

High cost of asthma treatment

Certain factors such as high cost of asthma treatment is expected to restrict the growth of global allergic asthma therapeutics market over the forecast period. For instance, in January 2020, according to the Asthma and Allergy Foundation of America, the yearly cost of asthma in the U.S is around US$ 56 billion, and each year, asthma accounts for more than 439,000 hospitalizations, 1.7 million emergency department (ED) visits, and 13.8 million missed school days. So, the use of orals drugs to be employed for the treatment as compared inhalers due to its low cost.