The global asthma treatment drugs market is expected to grow at a significant CAGR of 4.5% during the forecast period (2022-2028). The rising frequency of disorders including asthma, the aging population, increased research and development activities, and the existence of important market competitors are all contributing to this market growth. Asthma is a chronic respiratory condition in which mucus production, inflammation, and muscle tension restrict the airways of the lungs. Asthma is one of the most frequent diseases afflicting the world's population, as well as a life-threatening disorder that affects a patient's normal breathing. It is a chronic disorder that causes dyspnea, bronchospasm, and reversible blockage of airflow by stretching and narrowing the lungs' air passageways.
A full report of Global Asthma Treatment Drugs Market is available at:orionmarketreports.com/global-asthma-treatment-drugs-market/94535/
Asthma affects more adult women than adult men in the US. According to the Centers for Disease Control and Prevention's 2020 report, almost 25 million Americans suffer from asthma. This equates to almost one in every thirteen Americans, including 8% of adults and 7% of children. Asthma affects around 20 million persons in the US. Furthermore, there has been a significant increase in the number of smokers, which leads to asthma symptoms. In the US alone, around 36.5 million adults currently smoke cigarettes, and more than 16 million are living with a smoking-related illness. Smoking damages almost every organ in the body and increases the risk for coronary heart disease, stroke, lung cancer, and several other types of cancer.
The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and product innovation to remain competitive in the marketplace. For instance, the US Food and Medicine Administration (FDA) approved AstraZeneca's asthma drug Fasenra, a pre-filled, single-use auto-injector, for self-administration in October 2019. GlaxoSmithKline Plc and Iqvia Pty Ltd launched a phase III clinical trial in March 2021 to assess the efficacy and safety of GSK3511294 (Depemokimab) in adults and adolescents patients with severe uncontrolled asthma. In October 2023, the study is projected to be completed. Similarly, in February 2021, AstraZeneca Plc, in partnership with Amgen Inc, began a phase I clinical trial in children aged 5 to 11 years with asthma to examine the pharmacokinetic (PK) characteristics of a single subcutaneous (SC) dosage of tezepelumab. In September 2021, the experiment was completed.
The market number available for - 2022-2028
Base year- 2021
Forecast period- 2022-2028
By Drug Class
Rest of the World
Competitive Landscape: GlaxoSmithKline Plc, Merck & Co Inc., and AstraZeneca Plc, among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How are players addressing challenges to sustain growth?
Where is the investment opportunity?
Global Asthma Treatment Drugs Market Report by Segment
By Drug Class
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 780-304-0404
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
This release was published on openPR.