The allergic asthma therapeutics market consists of drugs that provide relief from symptoms caused by allergic asthma such as coughing, wheezing and shortness of breath. These drugs work by blocking inflammatory mediators, reducing inflammation in the airways and loosening mucus production.
The global Allergic Asthma Therapeutics Market is estimated to be valued at US$ 8.37 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing prevalence of allergic asthma globally is expected to be a major driver for the allergic asthma therapeutics market over the forecast period. According to the World Allergy Organization, approximately 30% of asthma cases worldwide are due to allergic triggers such as dust mites, animal dander and pollen exposure. The increasing pollution levels and changing climate have led to a rise in production and potency of airborne allergens, contributing significantly to the rising incidence of allergic asthma. For example, indoor air pollution is estimated to be responsible for up to 20% cases of childhood asthma in western countries. If the prevalence of allergic triggers continues to increase at the current rate, the demand for effective allergic asthma therapeutics is also likely to witness strong growth through 2031.
SWOT Analysis
Strength: Allergic asthma therapeutics market has strong R&D investment from key players for development of innovative and effective drugs and devices for treatment of allergic asthma.
Weakness: High costs associated with development of new drugs and devices for allergic asthma treatment. Dependence on seasonal factors for allergic asthma occurrences.
Opportunity: Increasing global prevalence of allergic asthma provides potential growth opportunities. Growing awareness programs can help in early disease diagnosis and management.
Threats: Patent expiries of major drugs and entry of generic versions. Stringent regulatory processes for drug approval.
Key Takeaways
The global allergic asthma therapeutics market is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: North America region currently dominates the global market and is expected to continue its dominance during the forecast period owing to growing incidences of allergic asthma, strong reimbursement policies, and presence of major players. However, Asia Pacific region is anticipated to register fastest growth during the forecast period driven by large patient pool, growing healthcare spending, and increasing awareness.
Key players operating in the allergic asthma therapeutics market are Ansarada Pty Ltd., Brainloop AG (Diligent Corporation), CapLinked, Citrix Systems Inc., Datasite Global Corporation, DealRoom Inc., EthosData, Firmex Inc, FORDATA sp. z o.o., iDeals Solutions Group, Intralinks Holdings Inc. (SS&C Technologies), SecureDocs Inc., ShareVault (Pandesa Corporation) and SmartRoom (BMC Group). These players are focused on new product launches, collaborations and expansions to strengthen their market position.
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