Global 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) is estimated to be valued at US$ 7.26 Billion in 2023 and is expected to exhibit a CAGR of 3% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as product launch as well as partnerships, which will drive the global allergic asthma therapeutics market during the forecast period. For instance, on January 13 2023, AstraZeneca, a global biopharmaceutical company developing innovative medicines, has announced that its Tezspire (tezepelumab) received approval from the European Medicine Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) in the European Union for self-administration in severe asthma patients aged 12 years and above.
Global Allergic Asthma Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global allergic asthma therapeutics market. During the COVID-19 pandemic, a large population was struggling with chronic respiratory issues, such as respiratory allergies, including allergic rhinitis (AR) and sinusitis. These increase the hospitalization rates due to the increasing prevalence of chronic respiratory diseases. For instance, in November 2022, according to a study published in the Journal of Biomed Central, patients with nonallergic asthma were more likely to have visited the Emergency Department or to have at least 1 hospital admission within 7 days before or 30 days after their index date than patients with allergic asthma. The proportion of patients hospitalized with COVID-19 was greater for patients with nonallergic asthma than allergic asthma. Thus increase in the hospitalizations is seen.
Global Allergic Asthma Therapeutics Market: Key Developments
In September 2020, Teva Respiratory, LLC., a U.S. affiliate of Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company, announced the launch of AirDuo Digihaler (fluticasone propionate and salmeterol) inhalation powder and ArmonAir Digihaler (fluticasone propionate) inhalation powder, two digital maintenance inhalers for patients with asthma. AirDuo Digihaler is a prescription medicine used to control symptoms of asthma and to prevent symptoms such as wheezing in people 12 years of age and older.
On June 06 2023, Phil Inc., a patient access platform company that revolutionizes life science product commercialization, announced an agreement with Teva Pharmaceutical Industries Ltd., an Israel-based pharmaceutical company that will make Digihaler products available for prescription using the PhilRx Patient Access Platform. Teva Pharmaceutical Industries Ltd. Digihaler system is the first and only smart inhaler system that can provide objective inhaler data to help patients and their doctors have informed treatment discussion in support of asthma management. The goal of Phil Inc. and Teva Pharmaceutical Industries Ltd., partnership is to help enable patients to receive and refill their Digihaler medication quickly, easily and affordably. Using the PhilRx Patient Access Platform, patients can fill their prescription, review prescription records and obtain assistance navigating insurance benefits. The PhilRx Patient Access Platform provides end-to-end visibility into the entire prescription life cycle, starting when the physician writes the prescription. Physicians can select the PhilRx Patient Access Platform directly from an electronic medical record (EMR) to submit a prescription for a Digihaler product. Then, physicians can determine if a prescription was filled and have the option to develop a personalized care plan based on the data provided.
In August 2021, Lupin Healthcare (UK) Limited, a wholly-owned subsidiary of global pharma major Lupin, announced that following the Medicines and Healthcare products Regulatory Agency (MHRA) approval earlier this year, it has launched Luforbec (beclometasone/formoterol) 100/6 dose pressurized metered dose inhaler (pMDI), making it available to patients in the United Kingdom, with the potential to offer significant cost savings for the National Health Service. Luforbec is indicated for the treatment of adult asthma and for the symptomatic treatment of severe chronic obstructive pulmonary disease (COPD).
Browse 34 Market Data Tables and 26 Figures spread through 220 Pages and in-depth TOC on “Global Allergic Asthma Therapeutics Market”- Forecast to 2030, Global 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)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/allergic-asthma-therapeutics-market-4019
Key Takeaways of the Global Allergic Asthma Therapeutics Market:
- The global allergic asthma therapeutics market is expected to exhibit a CAGR of 0% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the global allergic asthma therapeutics market.
- Among Route of Administration, the inhaled segment is expected to growth in the global allergic asthma therapeutics market over the forecast period, owing to the low side effects as compared to the oral route and faster onset of action. For instance, in September 2020, GSK plc., a multinational pharmaceutical and biotechnology company and Innoviva, a healthcare focused asset management company announced the U.S Food and Drug Administration (FDA) has approved a new indication for Trelegy Ellipta (fluticasone furoate / umeclidinium/vilanterol) for the treatment of asthma in patients aged 18 years and older adding to its current license for use in patients with chronic obstructive pulmonary disease (COPD). The approval means Trelegy is the first single inhaler triple therapy approved for the maintenance treatment of both asthma and COPD and is the only single inhaler triple therapy available for patients in a convenient once-daily inhalation in U.S.
- Among Drug Type, the corticosteroids segment is expected to hold a dominant position in the global allergic asthma therapeutics market during the forecast period and this is attributed due to the action of it directly on the airways and have fewer side effects. So, key players are focusing on strategies such as product launch for the global allergic asthma therapeutics market growth. For instance, in July 2020, Novartis AG, a global healthcare company which engages in the development, manufacture, and marketing of healthcare products announced that the European Commission (EC) has approved Enerzair Breezhaler as a maintenance treatment of asthma in adult patients not adequately controlled with a maintenance combination of a long‑acting beta2‑agonist (LABA) and a high-dose of an inhaled corticosteroid (ICS) who experienced one or more asthma exacerbations in the previous year. Once-daily Enerzair Breezhaler is the first LABA/long-acting muscarinic antagonist (LAMA)/ICS fixed-dose combination available in the EU for these patients. The approval also includes an optional digital companion with sensor and app that provides inhalation confirmation, medication reminders and access to objective data to better support therapeutic decisions.
- Major players operating in the global allergic asthma therapeutics market include ASLAN Pharmaceuticals, Takeda Pharmaceutical Company Limited, CHIESI Farmaceutici S.p.A., CSL, NIOX, Fountain Therapeutics, Eli Lilly and Company, GSK plc., Infinity Pharmaceuticals, Inc., Mabtech, Kineta Inc., Marinomed Biotech AG Mycenax Biotech Inc., AstraZeneca and Panacea Biotec.
