The Allergic Asthma Therapeutics Market is Trending by Growing Prevalence of Allergies

 

Allergic Asthma Therapeutics Market
Allergic Asthma Therapeutics Market 

The allergic asthma therapeutics market comprises anti-asthmatic and bronchodilator drugs that provide relief from symptoms caused due to asthma. These drugs work by relaxing airway muscles, reducing mucus production and swelling in airways. The growth in number of cases of allergic asthma due to rising environmental pollution and lifestyle changes has increased the demand for therapeutics which can effectively manage the condition.

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.

Key Takeaways

Key players operating in the allergic asthma therapeutics 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).

Rising air pollution levels, prevalence of Allergic Asthma Therapeutics Market Demand and changing lifestyle have increased the prevalence of allergic asthma over the years. This has boosted the demand for effective therapeutic drugs for treatment and management of the condition. Major companies are focusing on geographical expansion and new product launches to expand their market share and better serve patients across various countries.

Market key trends

Increasing research funding for development of novel biologic drugs for asthma is a key trend in the market. Biologics have potential to provide better management of allergic triggers and symptoms with reduced side effects as compared to conventional drugs. Regional governments and pharma companies are supporting research through funding and partnerships. Other major trends include growing adoption of digital health tools for asthma monitoring and management and home healthcare devices facilitating self-administration of drugs.

Porter’s Analysis

Threat of new entrants: Low barrier to entry due to easy availability of substitutes but high R&D costs for developing new therapies.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute therapies but brand loyalty provides advantage to existing players.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers of raw materials and presence of contracting organizations.

Threat of new substitutes: Substitutes present low threat as they treat different disease indications.

Competitive rivalry: High due to presence of many global and regional players.

Geographical Regions

North America accounts for the largest market share in terms of value due to high healthcare expenditure and increasing allergic asthma prevalence in the region.

Asia Pacific is poised to grow at the fastest rate during the forecast period driven by rising healthcare standards, growing medical tourism, and increasing investments by key players in the region.

Get More Insights On, Allergic Asthma Therapeutics Market

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

Comments

Post a Comment

Popular posts from this blog

In-Vehicle Payment Services: The Evolution of Vehicle Payment Services

Image
In-Vehicle Payment Services The Rise of In-Vehicle Payment Services Over the past decade, contactless payments have seen a meteoric rise in popularity. With tap-and-go cards and mobile wallets, consumers enjoy the ease and convenience of making quick purchases without cash or even touching their payment terminal. This trend towards touchless transactions was already well underway when the Covid-19 pandemic accelerated its adoption out of health and safety concerns. As consumers have embraced contactless payments in their daily lives, the automotive industry has taken notice and begun exploring integrated payment solutions for vehicles. Embedded Payment Systems Major automakers have started equipping new In-Vehicle Payment Services with the capability to accept contactless payments right from the dashboard or center console. Systems like GM's Marketplace allow drivers to make purchases and pay for services without ever leaving the vehicle. Embedded payment terminals transmit a...
Read more

Guidewires: Revolutionizing Medical Procedures

Image
Guidewires In the world of modern medicine, innovative technologies are constantly emerging to enhance patient care and improve surgical procedures. One such groundbreaking advancement is the development and application of guidewires. These slender and flexible wires have revolutionized medical procedures, providing healthcare professionals with precise navigation and improved outcomes. Guidewires serve as essential tools in various medical specialties, including cardiology, radiology, and minimally invasive surgery. These thin wires are typically made of materials like stainless steel, nitinol (a nickel-titanium alloy), or polymer, which combine flexibility and strength to navigate through complex anatomical structures. In interventional cardiology, guidewires play a crucial role in the diagnosis and treatment of cardiovascular diseases. Cardiologists use guidewires to access blood vessels, guide catheters to the desired location, and navigate through intricate pathways of the hea...
Read more

The Quantum Advantage: How Quantum Sensors Are Redefining Sensing Applications

Image
Quantum sensors Quantum sensors are emerging as a game-changing technology, revolutionizing the field of sensing and measurement. By leveraging the principles of quantum mechanics, these sensors offer unparalleled precision, sensitivity, and accuracy, surpassing the capabilities of traditional sensors. The quantum advantage lies in their ability to exploit quantum phenomena, such as superposition and entanglement, to achieve remarkable performance in a wide range of sensing applications. One area where quantum sensors are making a significant impact is in navigation and positioning systems. Traditional GPS technology relies on signals from satellites, which can be affected by factors like signal degradation and interference. Quantum sensors, such as atomic clocks and quantum gyroscopes, provide more accurate and reliable positioning data, enabling precise navigation in challenging environments where GPS signals may be unreliable or inaccessible. This has far-reaching implications for...
Read more