PRESS RELEASE
Published March 10, 2023
According to The Insight Partners’ Latest Study on “Asthma Therapeutics Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Product Type (Dry powder inhalers, Metered dose inhalers, Mist inhalers, Nebulizer); Drug Class (Anti-inflammatory drugs, Bronchodilators, Combination therapy); Route of administration (Oral, Inhaled, Intravenous, Subcutaneous) and Geography
Asthma is a chronic lung disease in which inflammation causes the bronchi to swell and narrow, resulting in breathing difficulties that can range from mild to life-threatening in considerable number of cases. The symptoms of asthma include, chest tightness, cough ,shortness of breath and wheezing. Asthma is caused by a number of environmental factors, including allergen exposure and air pollution. Asthma has been proven to have no cure, although it can be managed with early and effective asthma therapy. Anti-inflammatory drugs, corticosteroids, long-acting beta-agonists (LABA), and leukotriene modifiers are among the therapies used to treat asthma.
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Segments:
- Based on product type the market is segmented as, dry powder inhalers, metered dose inhalers, mist inhalers and nebulizer.
- Based on drug class the market is segmented as, anti-inflammatory drugs, bronchodilators and combination therapy.
- Based on route of administration the market is segmented as, oral, inhaled, intravenous and subcutaneous.
Dynamics:
Drivers:
- Increasing incidences of asthma and other respiratory disorders.
- Various risk factors such as, exposure to pollution, allergens, chemicals, practicing unhealthy lifestyles such as smoking are also expected to spur the market growth.
- Presence of robust pipeline of agents to manage asthma is also expected to spur market growth during the forecast period.
Restraints:
- However, patent expiration of drugs and high cost of asthma treatment are expected to restrain market growth during the forecast period.
Regional Analysis:
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the asthma therapeutics market in these regions.
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Covid-19 Outbreaks:
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
Top Players are:
- Koninklijke Philips N.V
- AstraZeneca
- GlaxoSmithKline Plc.
- Teva Pharmaceutical Industries Ltd.
- Boehringer Ingelheim International GmbH
- Sanofi
- Cipla Inc
- Intas Pharmaceuticals Ltd
- Merck Sharp and Dohme Corp
- F. Hoffmann-La Roche Ltd
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About The Insight Partners:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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