Asthma Treatment Market Overview and Regional Outlook Study 2027

Asthma Treatment Market: Increasing Penetration of Generic Drugs to Drive Sluggish Growth

The global asthma treatment marketwill rise from a value of ~US$ 25.6 Bn in 2019 to ~US$ 30.5 Bn by 2027, and it is anticipated that an increase in the number of FDA-approved products in parallel to the increasing awareness among asthma patients regarding quality care will drive the steady odyssey of the market.

Analysts at Transparency Market Research (TMR) anticipate that, among the strategic approaches taken towards consolidation, partnerships and collaborations will remain integral to maximize profitability from new markets. Having witnessed product recalls, manufacturers in the asthma treatment market are dedicating ample efforts to develop high-quality products, which are likely to receive easy approvals from the FDA and similar regulatory bodies.

On the demand side, as awareness regarding quality care for the treatment of asthma increases among patients, the adoption of inhalers and oral drugs is likely to increase. However, in recent times, the cost-benefits of generic drugs have been appealing to patients, which could pose as a challenge for manufacturers in the asthma treatment market.

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Consumer Shift towards Alternative Therapies to Impede Revenue of Asthma Treatment Market

The consumption of antibiotics for the treatment of asthma has always been debatable, given their side-effects such as include sore mouth and throat, dysphonia, cough, and spasms of the trachea. In addition, several patients have also complained of suffering from headaches, increased heart rates, and tremors, post the intake of drugs, which has instigated the quest for asthma treatment that is free from any side-effects, such as alternative therapies.

Despite not being branded as the mainstream treatment, individuals in the modern era are showing a marked proclivity for alternative therapies as an additional measure to treat asthma. Another challenge for market players is the mounting amount of literature that claims the effectiveness of alternative therapies when practiced for a prolonged period of time. This has attracted the interest of practitioners as well as asthma patients towards alternate therapies, as such impeding the growth of the global asthma treatment market.

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The trend of practicing Yoga and Unani is gaining traction, and is more pronounced in Asia Pacific, which also happens to be the home to these therapies. Also, a high number of medical tourism activities observed in the region are likely to pass on the trend to developed countries, which could negatively impact the sales of drugs and devices related to asthma, thereby stunting the growth of the asthma treatment market space.

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