The pediatric asthma treatment market is anticipated to expand at a CAGR of 3% during the forecast period of 2024 and 2032. Increases in environmental irritants and awareness of the severity of pediatric asthma contribute to the growth of the global market for pediatric asthma treatment. Several pharmaceutical companies are seeking FDA approval for pediatric asthma medications. Leading companies are implementing inhaler-use education programs for children and medical professionals via digital platforms. The increased participation of a number of large organizations in the dissemination of information regarding disease control measures and available asthma treatments is boosting market statistics.
In recent decades, the prevalence of childhood asthma has increased worldwide, making it a major public health concern. Early diagnosis and treatment are essential for the prevention of long-term complications in asthmatic children. In 2017 and 2018, according to the Australian Institute of Health and Welfare, approximately 10% of 0 to 14-year-old children in the country suffered from asthma. According to the World Health Organization (WHO), asthma affected roughly 262 million people worldwide in 2019 and was responsible for 4,555,000 deaths. In the near future, the increase in global prevalence of paediatric asthma is anticipated to increase demand for pediatric asthma treatment. The CDC's National Asthma Control Program and the Asthma Society of India's asthma camps provide asthma patients with effective disease management strategies that enhance their quality of life.
Environmental irritants such as smoke and air pollution can trigger asthma symptoms in children. Cigarette, wood-burning stove, and fireplace smoke may contain irritants that inflame the airways, aggravating asthma symptoms. Similarly, air pollution and industrial emissions can worsen the symptoms of childhood asthma. To reduce exposure to these triggers, it is advised not to smoke indoors, to spend less time in highly polluted areas, and to utilise air purifiers. In order to reduce the frequency and severity of symptoms, it is also crucial to develop a comprehensive asthma management plan in collaboration with pediatricians.
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By drug type, the global market for pediatric asthma treatment is divided into long-term control medications and quick-relief medications. In 2023, long-term control medications dominated the global pharmaceutical market. Long-term control medications, such as combination inhalers, are gaining popularity due to their numerous benefits. Combination inhalers are inhalers containing both a corticosteroid and a bronchodilator. They are more effective than either medication alone at reducing asthma symptoms.
By form, the global market for pediatric asthma treatments is divided into inhalers, solutions, pills, and injections. Inhalation/inhalers accounted for the largest share of the global market in 2023. Inhalers can be an effective treatment option for asthma symptoms. However, it is essential to use them effectively. Inhalers can administer medication effectively and efficiently. Additionally, they are portable and compact. This is expected to stimulate segment growth.
By distribution channel, the market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies market segment will likely dominate the industry in the near future. People prefer to purchase pediatric asthma medications from retail pharmacies due to their convenience.
During the forecast period, it is anticipated that North America will dominate the global scene. As a result of the high prevalence of pediatric asthma in North America, the market in that region is anticipated to expand at a rapid rate over the forecast period. According to the Centers for Disease Control and Prevention (CDC), approximately 6 million 0 to 17-year-old American children have asthma. Due to the high prevalence of childhood asthma in the region, a number of companies are developing innovative treatment methods. This contributes to the expansion of the North American pediatric asthma treatment market.
During the forecast period, the Asia-Pacific market for pediatric asthma treatments is expected to grow at a rapid rate. According to a study published in the journal Lung India, India is home to at least one in ten asthma patients worldwide, with between 1.5 and 2 billion asthma patients. In addition, up to 40.0% of children are eventually diagnosed with asthma. Increased emphasis on respiratory disease management and awareness of pediatric asthma management are driving the regional market growth.
The global market for the treatment of pediatric asthma is fragmented, with a large number of local and international players. The primary strategies employed by the most successful businesses are product portfolio expansion and mergers and acquisitions. The leading companies in the pediatric asthma treatment market are ECU Health, AstraZeneca PLC, GlaxoSmithKline, CHIESI Farmaceutici S.p.A., Pfizer Inc., Sanofi, Novartis AG, OPKO Health, Inc., Boehringer Ingelheim International GmbH, and Teva Pharmaceutical Industries Ltd.
Each of these participants is profiled in the report on the pediatric asthma treatment market based on parameters such as financial overview, business segments, company overview, recent developments, product portfolio, and business strategies.
