July 17, 2024

Inhaled Corticosteroids (ICS) Are The Largest Segment Driving The Growth Of Allergic Asthma Therapeutics Market

Market Overview:

Allergic asthma is characterized by inflammation in the airways of lungs in response to allergens like dust mites, pollen, animal dander, or mold. Therapeutics aim to control or prevent symptoms and exacerbations through drugs like inhaled corticosteroids and long-acting beta-agonists.

Market Key Trends:

One of the key trends in the allergic asthma therapeutics market is the introduction of biologics for uncontrolled allergic asthma patients. Biologics target specific inflammatory molecules involved in allergic reactions and help patients achieve better symptom control. They are replacing oral corticosteroids for severe patients due to superior efficacy and safety profile. Another trend is the development of therapies that focus on mast cell and IgE inhibitors given their central role in triggering allergic inflammation in asthma. These innovative drug classes have potential to radically change asthma management.

Market key trends:
The allergic asthma therapeutics market has been witnessing a growing trend of developing biologics and targeted small molecule drugs for treatment. Biologics such as monoclonal antibodies are being developed which selectively target IgE or inflammatory cytokines to achieve better disease control with less side effects. Companies are also investing in R&D of small molecules drugs that selectively target specific inflammation pathways involved in asthma pathogenesis.

SWOT Analysis
Strengths: Large patient pool suffering from allergic asthma globally. Increasing prevalence rates providing opportunities.
Weaknesses: High R&D costs involved. Stringent regulatory processes.
Opportunities: Biologics and targeted therapies provide opportunities for better treatment outcomes. Increasing healthcare investments in emerging countries.
Threats: Patent expiries of blockbuster drugs. Price control policies can impact revenues. Generic competition once patents expire.

Key Takeaways

The Global Allergic Asthma Therapeutics Market Demand   was valued at US$ 7.26 Bn in 2023 and is expected to reach US$ 10.32 Bn by 2030, expanding at a CAGR of 3.0%. The growth is attributed to increasing prevalence of allergic asthma worldwide fueled by growing environmental pollution and changes in lifestyle.

Regionally, North America dominated the market and accounted for over 35% market share in 2023. This is owing to developed healthcare infrastructure, growing awareness about asthma management, and availability of advanced therapeutics. Asia Pacific is anticipated to be the fastest growing region during the forecast period driven by rising air pollution levels, growing medical tourism, and increasing healthcare expenditure.

Key players operating in the allergic asthma therapeutics market are 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. Majority of these players are focusing on developing novel biologic drugs and targeted therapies for better management of allergic asthma.

Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it