Asthma market outlook strong

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Asthma is big business, and according to a new report, it’s only going to get bigger. According to DelveInsight, a business consultant and market research firm focused exclusively on life sciences, the severe asthma market among the seven major markets is poised for significant growth in the next decade.

DelveInsight’s Asthma Market Insights report predicts the market is pivoting to upward growth, due to several factors, including an increase in asthma diagnoses, an increase in the demand for personalized therapies and the development of well-designed, randomized, controlled, non-crossover trials with potential patient benefits. Additionally, new drug approvals and entries are expected to influence asthma market dynamics in the future. Currently, multiple pharmaceutical companies are investigating drugs for asthma treatment with an improved diagnostic approach.

According to the World Health Organization (WHO), asthma is a major non-communicable disease (NCD), affecting both children and adults, and is the most common chronic disease among children. Asthma affected an estimated 262 million people in 2019 and caused 455,000 deaths.

Leading asthma companies such as GlaxoSmithKline, 4D Pharma plc, AstraZeneca, Suzhou Connect Biopharmaceuticals, Avillion, Pearl Therapeutics, ARS Pharmaceuticals, Sinomab, Avalo Therapeutics, Kymab, Sanofi, Cumberland Pharmaceuticals, Genentech, Inc., and others are developing novel asthma drugs that can be available in the asthma market in the coming years.

Although most of the news is good, DelveInsight’s Asthma Market Insights report does note a few challenges, including a lack of effective specific treatments for non-eosinophilic asthma (NEA), high treatment costs, diagnostic limitations, incorrect inhaler techniques and poor adherence to treatment. In addition, “the undiagnosed, unreported cases and the unawareness about the disease remain the primary aspects that strive for the asthma market growth,” the report noted.

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