Allergic Asthma Therapeutics Market

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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
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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.