Market Trends of Anti Inflammatory Drugs Industry
The Asthma Treatment Segment is Expected to Record Significant Growth Over the Forecast Period
Asthma is a chronic respiratory condition characterized by airway inflammation, bronchoconstriction, and increased mucus production. The prevalence of asthma is increasing globally due to various reasons, such as air pollution, occupational chemicals and dust, frequent lower respiratory infections during childhood, tobacco smoking, and other environmental factors. These factors are expected to boost the growth of the anti-inflammatory drugs market.
The World Health Organization (WHO) included asthma in the Global Action Plan for the Prevention and Control of Noncommunicable Diseases (NCDs). The global health landscape is witnessing a concerning trend in respiratory conditions. The update on World Asthma Day 2023 showed the rise in the prevalence of asthma globally, affecting approximately 339 million people. This shows a significantly high burden of asthma worldwide, which is likely to boost the demand for anti-inflammatory drugs such as corticosteroids and propel segmental growth over the forecast period.
The widespread availability of anti-inflammatory drugs for asthma through approvals and launches globally is expected to propel the segment’s growth over the forecast period. For instance, in July 2023, Hormosan Pharma GmbH launched Luforbec 100/6, a combination of a pressurized metered dose inhaler (pMDI) for the treatment of adult asthma where the use of an inhaled corticosteroid and long-acting beta2-agonist (ICS/LABA) is suitable. The launch of a new inhaled corticosteroid and long-acting beta2-agonist combination product expanded treatment options for adult asthma.
North America is Expected to Hold a Significant Share Over the Forecast Period
The anti-inflammatory drugs market in North America, particularly in the United States and Canada, has been experiencing robust growth due to several factors, such as the rising prevalence of inflammatory diseases like rheumatoid arthritis, osteoarthritis, and inflammatory bowel disease, growing research and development investments for new therapies, and company activities such as new product approvals and launches.
The region’s burden of inflammatory diseases is growing, which is expected to increase the need for anti-inflammatory drugs and boost market growth. For instance, according to data published by Statistics Canada in November 2023, 6.28 million people aged 15 years and older had arthritis in 2022 in Canada, compared to 6.08 million in the previous year. Thus, the growing number of arthritis cases in the country is expected to raise the demand for anti-inflammatory drugs, thereby boosting market growth.
Furthermore, new investments in research and development activities for anti-inflammatory therapeutics are expected to boost market growth in the region. For instance, in January 2024, Halia Therapeutics, headquartered in the United States, secured USD 30 million in series C funding to propel its innovative anti-inflammatory therapeutics pipeline. Hence, new investments in R&D are expected to lead to more innovations in the market, thereby boosting its growth over the forecast period.
Therefore, the growing burden of inflammatory diseases and new investments in research and development activities are likely to boost the market’s growth in the region over the forecast period.
