Global Allergic Asthma Therapeutics Market Is Estimated To
Witness High Growth Owing To Increasing Prevalence of Asthma and Rise in
Research and Development Activities



The global Allergic Asthma Therapeutics market is estimated to be valued at US$
7.26 billion in 2023 and is expected to exhibit a CAGR of 3% over the forecast
period (2023-2030), as highlighted in a new report published by Coherent Market
Insights.



Market Overview

Allergic asthma is a type of asthma that is triggered by allergens, such as
dust mites, pollen, pet dander, or mold. It is characterized by inflammation
and narrowing of the airways, leading to symptoms like wheezing, coughing,
chest tightness, and shortness of breath. The market for allergic asthma
therapeutics includes various medications and treatments aimed at managing and
preventing asthma symptoms in allergic individuals.



The use of inhaled corticosteroids (ICS) and bronchodilators, such as
long-acting beta-agonists (LABAs), is the most common treatment approach for
allergic asthma. Other medications like leukotriene modifiers, immunomodulators,
and monoclonal antibodies are also used in severe cases. In addition to
medications, education, lifestyle modifications, and allergen avoidance
strategies are implemented to effectively manage allergic asthma.



Market Dynamics

Driver 1: Increasing Prevalence of Asthma

The global prevalence of asthma is on the rise, primarily driven by factors
like urbanization, environmental pollution, and changing lifestyles. According
to the Global Asthma Report by the Global Initiative for Asthma (GINA), around
339 million people were affected by asthma in 2019. The increasing prevalence
of allergic asthma is expected to drive the demand for therapeutics to manage
the condition.



Driver 2: Rise in Research and Development Activities

There has been significant investment in research and development activities
aimed at developing novel treatments for allergic asthma. Pharmaceutical
companies are increasingly focusing on the development of targeted therapies,
such as monoclonal antibodies, that specifically target the underlying
mechanisms of allergic asthma. This has resulted in the introduction of
innovative therapeutics in the market, providing new treatment options for
patients.



SWOT Analysis

Strengths:

1. Growing adoption of targeted therapies

2. Strong pipeline of novel therapeutics



Weaknesses:

1. High cost of targeted therapies

2. Limited accessibility to advanced treatments in developing countries



Opportunities:

1. Increasing awareness about personalized medicine

2. Emerging markets with a high burden of allergic asthma



Threats:

1. Stringent regulatory requirements for drug approval

2. Competition from generic medications



Key Takeaways

1: The global allergic asthma therapeutics market is expected to witness high
growth, exhibiting a CAGR of 3% over the forecast period. This growth can be
attributed to the increasing prevalence of asthma and the rise in research and
development activities, leading to the development of innovative therapeutics.



2: In terms of regional analysis, North America is expected to dominate the
allergic asthma therapeutics market due to a high prevalence of asthma and
well-established healthcare infrastructure. Europe is also expected to witness
significant growth, driven by the presence of key market players and increasing
research activities. Asia Pacific is anticipated to be the fastest-growing
region, owing to the rising burden of allergic asthma and improving healthcare
facilities.



3: Key players operating in the global allergic
asthma therapeutics market include ASLAN Pharmaceuticals, Takeda
Pharmaceutical Company Limited, CHIESI Farmaceutici S.p.A., CSL, NIOX, Fountain
Therapeutics, Eli Lilly and Company, GSK plc., Infinity Pharmaceuticals, Inc.,
Mabtech, Kineta Inc., Marinomed Biotech AG, Mycenax Biotech Inc., AstraZeneca,
and Panacea Biotec.



In conclusion, the global allergic asthma therapeutics market is poised to
experience significant growth in the coming years. The increasing prevalence of
asthma, along with advancements in research and development activities, will drive
the demand for innovative therapeutics. However, challenges such as high
treatment costs and limited accessibility in some regions need to be addressed
to ensure optimal management of allergic asthma globally.