(MENAFN- EIN Presswire)
Severe Asthma treatment Market
Regional Analysis of Severe Asthma Treatment Market
North America severe asthma market is set for growth, driven by high asthma prevalence, increased awareness, and advanced treatment options for severe cases.
NEWARK, DE, UNITED STATES, January 9, 2025 /EINPresswire / -- The global severe asthma treatment market is witnessing unprecedented growth, with projections indicating a leap from USD 22 billion in 2023 to an impressive USD 36.18 billion by 2033. This robust expansion, marked by a compound annual growth rate (CAGR) of 5.1% during the forecast period, underscores the sector's vital role in addressing the rising global burden of severe asthma.
The market's impressive growth trajectory is fueled by several key drivers, most notably the increasing prevalence of asthma worldwide. Severe asthma cases, in particular, have surged, creating an urgent demand for innovative and effective treatment solutions. This heightened need has spurred the development of a diverse array of therapeutic options, significantly enhancing patient outcomes and driving market growth.
Historical Momentum Paves the Way:
Between 2018 and 2022, the severe asthma treatment market demonstrated steady progress, with a CAGR of 3.3%. This growth established a strong foundation for the ongoing surge in market value. Key advancements during this period included the introduction of novel biologic therapies and the adoption of personalized treatment approaches tailored to individual patient needs.
Future Outlook: Innovation Driving Expansion
The forecasted growth is expected to be bolstered by continued innovation in the field, including the development of cutting-edge biologics and enhanced precision medicine strategies. These advancements are revolutionizing severe asthma treatment, offering patients more targeted and effective options than ever before.
Increased Market Demand: Get In-Depth Analysis and Insights with Our Complete Report!
Market Opportunities:
.Rising Asthma Prevalence: A significant uptick in asthma cases globally, driven by factors such as urbanization, pollution, and lifestyle changes, is expanding the addressable market.
.Biologic Therapies: The emergence of biologic drugs is providing new hope for patients with severe asthma, particularly those unresponsive to traditional treatments.
.Personalized Medicine: Tailored treatment plans are gaining traction, improving patient outcomes and reinforcing the market's growth trajectory.
Industry Insights:
As the severe asthma treatment market evolves, key players are intensifying their focus on research and development to maintain a competitive edge. Strategic collaborations and partnerships are also playing a pivotal role in accelerating innovation and market penetration.
The global severe asthma treatment market stands at the forefront of medical innovation, poised to transform patient care and deliver significant value to stakeholders. As the prevalence of asthma continues to rise, the industry's commitment to advancing therapeutic solutions will remain a critical driver of growth.
Key Takeaways from the Market Study:
.Severe asthma treatment market is expected to register a CAGR of 5.1% in the forecast period 2023-2033
.Inhaled route of administration is expected to possess 40% market share for severe asthma treatment market in 2023.
.North America is expected to possess 45% market share for severe asthma treatment market in 2023.
.Europe severe asthma treatment market size is expected to possess 39% market share in 2023.
“Advancements in treatments along with innovation of treatment options is expected to favor the growth of the market in the upcoming years.” states an FMI analyst
Competitive Landscape:
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
.GlaxoSmithKline most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Nucala (mepolizumab). Nucala 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.
.Novartis' most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Xolair (omalizumab). Xolair is an anti-IgE monoclonal antibody that is used to treat severe allergic asthma, a type of severe asthma that is triggered by allergens such as pollen, dust mites, and animal dander.
Discover Our Full Report Can Transform Your Business with Actionable Insights!
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)
Explore FMI's Related Ongoing Coverage on Healthcare Market Insights Domain:
The depression treatment market size is valued at USD 11 billion in 2024. It is anticipated to grow at a CAGR of 5.2% during the assessment period and reach a value of USD 18.3 billion by 2034.
The global postpartum depression management market share is poised to register a 3.8% CAGR, capturing a revenue share of USD 115.1 million in 2022, to reach USD 173.9 million by 2032.
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: ...
Website:
Ankush Nikam
Future Market Insights, Inc.
+91 90966 84197
email us here
Visit us on social media:
Facebook
X
LinkedIn
YouTube
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN09012025003118003196ID1109071071