Asthma Drugs Market Estimated to Grow at CAGR of 5.0 % by 2028

Asthma Drugs Market is provided for the international market including developments, competitive landscape analysis and major regions' development status.

NEW YORK, UNITED STATES, February 2, 2023 /EINPresswire.com/ -- The Insight Partners Latest Research for Report "Asthma Drugs Market Forecast to 2028" Focuses COVID-19 Impact and Global Analysis By Medications (Quick Relief Medications and Long-Term Control Medications), Route of Administration (Inhaled, Prefilled Syringes/Vials, and Others), and Distribution Channels (Online Pharmacies, Hospital Pharmacies, and Retail Pharmacies)

"Asthma Drugs Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Medications, Route of Administration, and Distribution Channels," the asthma drugs market size is projected to grow from US$ 24,239.17 million in 2021 to US$ 34,136.10 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments.

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Asthma is a lung disease that affects people of all ages. It produces wheezing and makes breathing difficult. Exposure to an allergy or irritant, infections, exercise, emotional stress, and other conditions are all potential triggers. When the symptoms of asthma become unbearable, an asthma attack ensues. Attacks can happen out of nowhere and range in severity from mild to life-threatening. Asthma is managed with rescue inhalers to treat symptoms and controller inhalers that prevent symptoms. Severe cases may require longer-acting inhalers that keep the airways open (formoterol, salmeterol, tiotropium), as well as inhalant steroids. Asthma medication comes in several forms, including tablets, injections, liquids, and inhalers; and it falls into two groups: bronchodilators and anti-inflammatories.

Industry Players Outlook:

A few of the most notable companies occupying a considerable share of the market are AstraZeneca, TEVA PHARMACEUTICAL INDUSTRIES LTD, GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Merck & Co., Inc, Koninklijke Philips N.V., Sanofi, Pfizer Inc., Novartis AG, and Abbott.

Market leaders are involved in partnerships, product launches, acquisitions, and other strategies to improve their performance and consolidate the market position. The companies are focusing on organic strategies such as product launches, and product approvals. Inorganic growth strategies witnessed in the market were acquisitions, collaboration, and partnerships. These growth strategies have aided the market players in the expansion of their business enhanced their geographic presence. Additionally, growth strategies such as acquisitions and partnerships helped in strengthening their customer base and increase the product portfolio.

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A few of the vital developments in the asthma drugs market are mentioned below:

Jan-2022: GlaxoSmithKline plc got product approval from the US Food and Drug Administration (FDA) for a 40 mg prefilled syringe of Nucala (mepolizumab) for appropriate children aged 6 to 11 years old who have severe eosinophilic asthma (SEA). Nucala can now be given by a child’s health care provider or administered at home by a caregiver once trained by a health care professional. Nucala is an add-on, prescription maintenance treatment for patients 6 years and older with severe eosinophilic asthma.

Dec-2021: AstraZeneca and Amgen’s Tezspire (tezepelumab-ekko) has got approval in the US for the add-on maintenance treatment of adult and pediatric patients aged 12 years and older with severe asthma. Tezspire is a first-in-class biologic for severe asthma that acts at the top of the inflammatory cascade by targeting thymic stromal lymphopoietin (TSLP), an epithelial cytokine.2-5 It is the first and only biologic to consistently and significantly reduce asthma exacerbations across Phase II and III clinical trials which included a broad population of severe asthma patients irrespective of key biomarkers, including blood eosinophil counts, allergic status, and fractional exhaled nitric oxide (FeNO).

Nov-2021: AstraZeneca agreed to transfer its global rights to Eklira (aclidinium bromide), known as Tudorza in the US, and Duaklir (aclidinium bromide/formoterol) to Covis Pharma Group (Covis Pharma). The agreement ensured continued patient access to these established medicines. Covis Pharma previously acquired the rights to the respiratory medicines Alvesco, Omnaris, and Zetonna from AstraZeneca in 2018.

The report segments the Asthma Drugs market as follows:

Based on medications, the asthma drugs market is segmented into quick relief medications and long-term control medications. Based on route of administration, the asthma drugs market is segmented into inhaled, prefilled syringe/vials, and others. Based on distribution channels, the asthma drugs market is segmented into online pharmacies, hospital pharmacies, and retail pharmacies. Based on geography, the asthma drugs market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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