Severe Asthma Treatment Market

Severe Asthma Treatment Market Snapshot (2023 to 2033)

The global severe asthma treatment market is expected to garner a market value of USD 22 Billion in 2023 and is expected to accumulate a market value of USD 36.18 Billion by registering a CAGR of 5.1% in the forecast period 2023 to 2033.

Growth of the severe asthma treatment market can be attributed to growing prevalence of asthma along with wide presence of treatment options. The market for severe asthma treatment registered a CAGR of 3.3% in the historical period 2018 to 2022

Severe asthma is a chronic respiratory disease that affects a small percentage of asthma patients who experience persistent symptoms despite treatment with high doses of inhaled corticosteroids and other asthma medications. Severe asthma treatment aims to reduce symptoms and improve quality of life for patients who have difficulty controlling their asthma with conventional therapies.

Report Attribute	Details
Expected Market Value (2023)	USD 22 Billion
Anticipated Forecast Value (2033)	USD 36.18 Billion
Projected Growth Rate (2023 to 2033)	5.1% CAGR

2018 to 2022 Severe Asthma Treatment Market Demand Analysis vs. Forecast 2023 to 2033

According to market research and competitive intelligence provider Future Market Insights- the market for Severe asthma treatment reflected a value of 3.3% during the historical period, 2018 to 2022.

The market was mainly driven by the increasing prevalence of severe asthma, the development of novel biologic therapies, and the rising awareness of the disease among patients and healthcare providers. The emergence of several biologic therapies for severe asthma, such as mepolizumab, reslizumab, benralizumab, and dupilumab are expected to drive market growth. Additionally, the availability of advanced diagnostic tools for the accurate diagnosis of severe asthma is likely to further boost market growth.

Thus, the market for Severe asthma treatment is expected to register a CAGR of 5.1% in the forecast period 2023 to 2033.

Which are Some Prominent Drivers of Severe Asthma Treatment Market?

Development of innovative treatment options driving market growth

Asthma is a common chronic respiratory disease, and the number of people living with asthma is increasing worldwide. This is expected to drive demand for severe asthma treatment in the coming years. The development of new and innovative treatment options for severe asthma is expected to drive growth in the severe asthma treatment market. This includes the development of biologic medications and other targeted therapies that offer improved efficacy and fewer side effects compared to traditional asthma medications.

As healthcare spending continues to increase worldwide, there is expected to be a greater focus on the development and adoption of new treatments for chronic diseases like severe asthma. As awareness of severe asthma grows, more patients are being diagnosed with the condition. This is expected to drive demand for severe asthma treatment in the coming years.

Government initiatives and funding for research and development of new severe asthma treatments is expected to drive growth in the market. This includes initiatives aimed at improving access to care for patients with severe asthma, as well as funding for research into new treatment options.

Availability of medications boosting the development of severe asthma treatment market

Severe asthma treatment may involve a combination of medications, lifestyle changes, and specialized care from a team of healthcare professionals. Some of the most common treatments for severe asthma include

• Biologic medications: Biologic medications target specific pathways in the immune system that contribute to asthma inflammation. These medications are administered via injection or infusion and are typically reserved for patients with severe asthma who have not responded well to other treatments.
• Oral corticosteroids: Oral corticosteroids are a type of medication that can help reduce inflammation in the airways. However, they can have significant side effects when used long-term, so they are typically reserved for short-term use in patients with severe asthma.
• Bronchial thermoplasty: Bronchial thermoplasty is a non-invasive procedure that uses heat to reduce the size of the airway smooth muscle, which can help reduce symptoms of asthma.
• Immunotherapy: Immunotherapy involves exposing the patient to small amounts of an allergen over time, which can help desensitize the immune system and reduce asthma symptoms triggered by allergens.

What are the Challenges Faced by the Severe Asthma Treatment Market?

Regulatory challenges and lack of awareness derailing market growth

Severe asthma treatment can be expensive, especially biologic medications, which can cost thousands of dollars per year. This high cost can limit access to treatment for some patients, especially those in low-income countries or without adequate insurance coverage.

Severe asthma treatment often requires specialized care from a multidisciplinary team of healthcare professionals, including pulmonologists, allergists, and respiratory therapists. However, access to such specialized care may be limited in some regions, which can limit the availability of effective treatment options for severe asthma patients.

Although there are several treatment options available for severe asthma, some patients may not respond well to these treatments or may experience significant side effects. This can limit the efficacy of existing treatments and create a need for new and more effective therapies.

Many patients with severe asthma may not be aware of the full range of treatment options available to them, which can limit their ability to effectively manage their symptoms and improve their quality of life.

The severe asthma treatment market is highly regulated, which can create barriers to entry for new products and treatments. This can limit innovation in the market and restrict the availability of new and potentially more effective treatments for severe asthma.

Overall, the severe asthma treatment market faces several challenges, including high treatment costs, limited availability of specialized care, limited efficacy of existing treatments, lack of patient awareness, and regulatory challenges. Addressing these challenges will be critical to improving access to effective treatment options for patients with severe asthma.

Region-wise Insights

High Prevalence of Asthma Patients Increasing Demand for Treatment in North America?

Advancements in treatment options spurring growth of severe asthma treatment

The North America severe asthma treatment market is expected to grow significantly in the coming years due to several factors, including the high prevalence of asthma in the region, increasing awareness and diagnosis of severe asthma, and advancements in treatment options.

In the United States, an estimated 25 Billion people have asthma, and approximately 5-10% of these individuals have severe asthma that is difficult to control with conventional treatments. This represents a significant patient population that is in need of specialized care and effective treatment options.

In recent years, there have been several advancements in severe asthma treatment options, including the development of biologic medications and other targeted therapies that offer improved efficacy and fewer side effects compared to traditional asthma medications. These advancements are expected to drive growth in the severe asthma treatment market in North America as more patients seek out and receive effective treatment. Thus, North America is expected to possess 45% market share for severe asthma treatment market in 2023.

Demand for Specialized Care for Asthma Treatment Creating Lucrative Opportunities for Market Growth in Europe?

Government initiatives aiming at improving treatment access for asthma patients in Europe

In Europe, an estimated 30 Billion people have asthma, and approximately 5-10% of these individuals have severe asthma that is difficult to control with conventional treatments. This represents a significant patient population that is in need of specialized care and effective treatment options.

In addition, the Europe severe asthma treatment market is expected to continue to grow in the coming years as more patients are diagnosed with severe asthma and as new and innovative treatment options become available. Additionally, government initiatives aimed at improving access to care and increasing awareness of severe asthma may also help to drive growth in the market. Thus, Europe is expected to possess 39% market share for severe asthma treatment market in 2023.

Category-Wise Insights

Quick Relief by Inhaled Route of Administration Making it Dependable for Severe Asthma Treatment?

Easier accessibility to affected region maximizing use of inhalation therapy

Inhalation therapy is often the preferred route of administration for the treatment of severe asthma. Inhalation therapy includes the use of inhalers and nebulizers, is often the preferred route of administration for the treatment of severe asthma.

This is because inhalation therapy delivers medication directly to the lungs, where it can provide quick relief of asthma symptoms and target the underlying inflammation that causes asthma. Thus, inhaled route of administration is expected to possess 40% market share for severe asthma treatment market in 2023.

Market Competition

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

• Teva Pharmaceutical’s most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Cinqair (reslizumab). Cinqair 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.
• AstraZeneca's most significant contributions to the treatment of severe asthma has been the development and commercialization of a biologic medication called Fasenra (benralizumab). Fasenra is an anti-IL-5 receptor alpha 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.

Report Scope

Report Attribute	Details
Market Value in 2023	USD 22 Billion
Market Value in 2033	USD 36.18 Billion
Growth Rate	CAGR of 5.1% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD Billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Drug Class, Route of Administration, Device Type, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, United kingdom, France, Spain, Italy, Rest of Europe, India, Malaysia, Singapore, Thailand, Rest of South Asia, China, Japan, South Korea, Austria, New Zealand, GCC countries, South Africa, Israel, Rest of Middle East and Africa(MEA)
Key Companies Profiled	Teva Pharmaceutical; AstraZeneca; GlaxoSmithKline; Novartis; Sanofi; Regeneron Pharmaceutical; 4D Pharma plc; AB Pharma; Morphosys; Roche; Avalo Therapeutics; Suzhou Connect Biopharmaceuticals; Pieris Pharma; Biosion
Customization	Available Upon Request

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)

Frequently Asked Questions

How Big is the Severe Asthma Treatment Market?

The market is estimated to be valued at USD 22 billion in 2023.

Who are the Key Severe Asthma Treatment Market Players?

The key market players are AstraZeneca, GSK, and Teva.

Which are the Key Asian Countries in the Severe Asthma Treatment Market?

India, Japan, and China dominate the Asian market.

How Big Will the Severe Asthma Treatment Market by 2033?

The market is estimated to reach USD 36.18 billion by 2033.

Which Region holds high Lucrativeness in Severe Asthma Treatment Market?

North America is projected to emerge as a lucrative market.