Future Market Insights (FMI)’ updated report on the asthma treatment market highlights several opportunities and growth prospects for the coming decade. As per the report, the asthma treatment market is set to surge from USD 28.0 billion in 2024 and USD 46.0 billion by 2034. The report reflects a robust CAGR of 5.1% between 2024 and 2034, inferring strong market growth.
| Attributes | Key Insights |
|---|---|
| Global Asthma Treatment Market Size (2024E) | USD 28.0 billion |
| Market Value (2034F) | USD 46.0 billion |
| Value-based CAGR (2024 to 2034) | 5.1% |
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The increasing incidence of asthma, growing knowledge about asthma medications, and advancements in asthma treatment choices are projected to spur market growth. The industry is further propelled by environmental factors such as air pollution, allergens, and lifestyle changes, which contribute to the surged prevalence of asthma worldwide.
Precision medicine is gaining traction in the asthma treatment industry as demand for individualized asthma medications increases. Mobile applications, smart inhalers, and wearable devices are improving tailored asthma therapy by allowing for real-time monitoring of symptoms, medication adherence, and lung function.
This accurate data gathering helps healthcare practitioners and professionals to understand each patient's asthma management better and offer appropriate treatment solutions.
Remote monitoring and telemedicine services are further estimated to enhance personalized treatment for patients in remote and underdeveloped areas. Pharmaceutical companies and research organizations are investing in innovating new drugs and therapies to meet the diverse needs of asthma patients globally.
Public health initiatives and awareness campaigns are further boosting market development. Urbanization, industrialization, genetic susceptibility, and family history of asthma are set to contribute to mounting asthma prevalence, creating an environment favorable for market growth.
From 2019 to 2023, bronchodilators such as theophylline and beta-agonists were primarily considered as asthma treatments, providing relief from symptoms. During 2019 and 2023, the market grew at a CAGR of 6.8%. Development in genetics and biomarker research has enabled personalized asthma treatment, optimizing its efficacy and minimizing side effects.
Digital health technologies, such as asthma management mobile apps, smart inhalers, and telemedicine services, further enabled better monitoring of asthma symptoms, medication adherence, and remote patient management.
Smart inhalers, smartphone applications, and telemedicine are improving asthma therapy by allowing for remote monitoring, medication adherence, and increased patient awareness and education. Preventive methods, such as environmental trigger reduction and lifestyle modifications aimed at reducing exacerbations and improving long-term treatment results, are set to fuel the market development.
Combination inhalers with bronchodilators and corticosteroids are gaining traction in asthma management due to their ease of use and improved patient outcomes. Healthcare policies, reimbursement structures, and value-based care initiatives are set to fuel asthma treatment adoption globally.
Leading companies and producers are focusing on developing novel therapeutic targets, drug delivery systems, and alternative treatments, propelling market development. The shift toward patient-centric care models, self-management education, and empowerment is gaining momentum in several emerging markets.
The section below highlights the projected growth rates of leading countries. Among these, South Korea is set to remain a highly lucrative market, exhibiting a CAGR of 7.2%. Japan and the United Kingdom are estimated to follow with CAGRs of 6.8% and 6.3%, respectively.
| Countries | Projected CAGR (2024 to 2034) |
|---|---|
| United States | 5.4% |
| United Kingdom | 6.3% |
| China | 5.9% |
| South Korea | 7.2% |
| Japan | 6.8% |
The asthma treatment industry can be observed in the subsequent tables, which focus on the leading economies, consisting of South Korea, Japan, the United Kingdom, China, and the United States. A comprehensive evaluation demonstrates that the United States has enormous potential for growth in the market.
| Countries | Market Values (2034) |
|---|---|
| United States | USD 8.3 billion |
| United Kingdom | USD 1.9 billion |
| China | USD 7.3 billion |
| South Korea | USD 3.0 billion |
| Japan | USD 5.2 billion |
The United States is set to dominate the market by 2034, surging at a CAGR of 5.4%. Asthma, a common non-communicable disease in the United States, accounts for around 73% of outpatient clinic visits, creating a wide target population for effective asthma therapeutics.
Established healthcare infrastructure and increasing asthma prevalence in the United States are the key factors propelling market growth. The United States is further projected to grow significantly due to improved government reforms, a rising geriatric population, increasing healthcare expenditure, and growing consumer awareness about lung diseases.
By 2034, China is projected to grow substantially at a CAGR of 5.9%. Government initiatives, subsidies, and reimbursement policies to improve treatment quality, promote evidence-based practices, and reduce healthcare inconsistencies are influencing asthma therapy adoption in China.
Leading companies in China are focusing on research & development to innovate new therapeutic treatments, improve drug delivery systems, and understand asthma pathophysiology to reach wider customers.
The competitive asthma care market in China encourages innovation through collaborations and partnerships between industry stakeholders, academia, and patient advocacy groups.
Japan is projected to propel due to factors such as high asthma prevalence, increased consumer awareness, and innovations in treatment options. Developments in biologic medications and targeted therapies, which offer improved efficacy and fewer side effects, are estimated to fuel growth in the market.
The market in Japan is further anticipated to be influenced by increased FDA endorsements and key market strategies such as collaboration, mergers, and partnerships among local and international companies. The market's development is projected to be accelerated by key players intensifying their geographical presence in emerging nations. By 2034, Japan is projected to reach USD 5.2 billion.
South Korea is home to several leading pharmaceutical companies specializing in asthma treatment, medication development, and manufacturing. These companies contribute to innovative asthma management therapies, propelling market growth in South Korea. South Korea is projected to reach a market valuation of USD 3.0 billion in 2034.
South Korea's regulatory framework and favorable government reimbursement system encourage asthma treatment adoption, providing patients with a wide range of treatment options and fueling market reach.
South Korea is a leading center for asthma research and clinical trials, involving academic institutions, research centers, and healthcare organizations to develop new treatment methods.
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The segmented market analysis is included in the subsequent section. Based on comprehensive studies, the inhaler segment is dominating the product category. Likewise, the oral segment is commanding the route of administration category.
| Segment | Value CAGR (2024 to 2034) |
|---|---|
| Inhalers (Product) | 4.8% |
| Oral (Route of Administration) | 4.6% |
The inhalers segment, with its reliability, versatility, portability, and cost-effectiveness, is projected to lead the product segment by 2034. The growing prevalence of asthma and COPD, along with the need for emergency treatment alternatives, is propelling the segment’s growth.
The development of progressive products, such as Trelegy Ellipta, a triple therapy inhaler approved in the United States, is also projected to fuel segment growth. Based on product, the inhaler segment is set to surge at a CAGR of 4.8% by 2034.
Based on the route of administration, the oral segment is set to rise at 4.6% CAGR by 2034. The segment is projected to witness a leading growth rate from 2024 to 2034 due to its convenience and efficacy.
Oral medications, taken by mouth and absorbed through the digestive system, are well-preferred and easy to use, making them popular among patients and healthcare providers. The convenience, effectiveness, and versatility of the oral route of administration make the segment a valuable tool for managing asthma, boosting the segment's growth.
Leading pharmaceutical companies are inclined toward research & development to surge their market reach while emerging biotech companies innovate targeted treatments to uphold their positions. Market growth relies on regulatory adherence, diagnostic research, strategic partnerships, and adapting to evolving consumer tastes.
For instance
The market is set to reach USD 28.0 billion in 2024.
Demand for asthma treatment is slated to rise at a 5.1% CAGR by 2034.
The market is set to reach USD 46.0 billion in 2034.
Teva Pharmaceutical Industries Ltd, GSK plc, Merck & Co.Inc, and AstraZeneca are the key players.
The inhaler segment is estimated to hold a significant market share in 2024.
| Market Value for 2024 | USD 1.50 billion |
|---|---|
| Market Value for 2034 | USD 4.80 billion |
| Market CAGR (2024 to 2034) | 12.30% |
| Market Size (2024) | USD 11,061.3 million |
|---|---|
| Market Size (2034) | USD 18,994.4 million |
| Value-based CAGR (2024 to 2034) | 5.6% |
| Expected Market value in 2023 | US$ 2.51 Billion |
|---|---|
| Expected Market value in 2033 | US$ 3.98 Billion |
| CAGR (2023 to 2033) | 4.7% |
| Expected Market Value (2023) | USD 22 Billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 36.18 Billion |
| Projected Growth Rate (2023 to 2033) | 5.1% CAGR |
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