Market Trends of Global Interleukin Inhibitors Industry
This section covers the major market trends shaping the Interleukin Inhibitors market according to our research experts:
Asthma Segment is Expected to Hold a Significant Market Share Over the Forecast Period.
Asthma is one of the major non-communicable diseases. It is a chronic disease of the lung air passages, which inflames and narrows them. Asthma restricts airways and can cause nighttime coughing, wheezing, and breathlessness, potentially interfering with the ability to get a good night's sleep. According to the World Population Ageing Highlight 2020 report by the United Nations, the global geriatric population is increasing rapidly worldwide. In 2020, about 727 million people aged 65 years or older were living across the world, about 9.3% of the global population. The same report projected that the population of people aged 65 years or more is expected to be about 1.5 billion by 2050, which will be about 16% of the global population. Thus, the growing aging population is expected to significantly impact the growth of the market studied during the forecast period. According to the Canadian Pediatric Society in November 2021, entitled 'Managing an acute asthma exacerbation in children,' asthma prevalence in Canada has been estimated to be 10% overall. Still, it can reach 20% of children and adolescents, including their indigenous peers. Exacerbations of asthma are common reasons children visit the emergency room (ED), be admitted to the hospital, and miss school. More than 50% of ED visits from children with asthma are from this age group. Moreover, one child died in Alberta for every 25,000 emergency department visits or about 10% of pediatric ED visits. According to the study titled 'Risk factors of asthma in the Asian population: a systematic review and meta-analysis,' published in the Journal of Physiological Anthropology in December 2021, the Asia-Pacific region saw an increase in the prevalence of asthma-related symptoms over the past 12 months. Further research into the disease-related risk factors unique to the Asia-Pacific region is expected to offer opportunities to create more effective preventative, prognostic, and therapeutic strategies for managing asthma disease, given the region's rising trend in asthma prevalence. Thus, the abovementioned factors are expected to increase market growth.
North America Region is Expected to Hold a Major Market Share Over the Forecast Period
In the North America region, the United States is expected to hold a significant market share due to the presence of major market players, increasing research and development activities in the development of novel products, proactive government initiatives, and an increase in healthcare expenditure. Asthma is a primary noncommunicable disease (NCD) affecting children and adults and is the most common chronic disease among children. Also, according to the Asthma and Allergy Foundation of America (AAFA), in April 2022, roughly 1 in 13 Americans had asthma, which is about 25 million people. As per the abovementioned source, about 5.1 million American children under 18 have asthma. The same source stated that asthma is more common in female adults than in male adults. Around 9.8% of female adults have asthma, compared to 6.1% of male adults. Thus, patients with respiratory illnesses often require portable oxygen concentrators for treatment purposes, creating opportunities for ventilators and boosting market growth. Moreover, the United States is under pressure to overcome the respiratory disease burden and its economic impact. For instance, in the article 'Does Chronic Obstructive Pulmonary Disease Affect Workers' Health?' published in July 2021, researchers estimated that the annual direct costs of COPD in the United States are USD 18 billion.
Thus, the abovementioned factors are expected to increase market growth.
