April 20, 2024

Allergic Asthma Therapeutics Market Growth Accelerated by Rising Prevalence of Allergens

 Asthma medications like corticosteroids, long-acting beta-agonists and leukotriene modifiers are commonly prescribed to control asthma symptoms and reduce the risk of attacks. The rising prevalence of allergens due to environmental factors like pollution and climate change has accelerated the incidence of allergic asthma globally.

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 prevalence of allergic asthma has increased rapidly over the past few decades. According to the Centers for Disease Control and Prevention, over 26 million Americans currently suffer from asthma, of which more than half have allergies. The development of novel biomarkers to better understand the complex immunologic pathways involved in allergic reactions contributing to asthma is helping researchers develop new targeted therapies. Biologic treatments are gaining prominence for their superior efficacy in controlling severe eosinophilic asthma driven by specific allergens. Innovation in inhaled drug delivery systems is also improving patient adherence and treatment outcomes for allergic asthma.

Segment Analysis
The global allergic asthma therapeutics market is dominated by the immuno and monoclonal antibody segment. This is because these drugs directly target the inflammatory pathways involved in asthma pathophysiology and also provide long lasting benefits. Additionally, they also have higher efficacy and require less frequent dosing compared to other options like small molecule drugs and oral corticosteroids which drives their adoption.

Key Takeaways
The global allergic asthma therapeutics market is expected to witness high growth during the forecast period of 2024 to 2031.

Regional analysis: North America region currently dominates the global market and is expected to maintain its dominance during the forecast period due to high prevalence of allergic asthma, strong reimbursement policies and rapid adoption of novel therapeutics.

Key players operating in the allergic asthma therapeutics market are Ansarada Pty Ltd., Brainloop AG (Diligent Corporation), CapLinked, Citrix Systems Inc., 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).

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