Aspirin Exacerbated Respiratory Disease Market size is poised to grow at substantial growth rate during the forecast period i.e., between 2025-2037.
The growth of the market can be attributed to increased research and development activities. The aspirin exacerbated respiratory disease is characterized by chronic sinus with asthma, nasal polyps, and sensitivity to aspirin, and other non-steroidal anti-inflammatory drugs (NSAIDs). The disease is not caused by the intake of aspirin or NSAIDs, but the disease gets worse if the patients take these medicines. According to the report given by the American Academy of Allergy, Asthma & Immunology, approximately 9% of all adults with asthma have aspirin exacerbated respiratory disease. Moreover, the number of asthma patients is mushrooming worldwide. As per the data published by the World Health Organization, the number of asthma patients was 262 million in 2019. The number is estimated to grow rapidly, subsequently causing the boost in the growth of the global aspirin exacerbated respiratory disease market during the forecast period. Moreover, governments all over the world are allotting humongous budgets for the betterment of the health sector. The data released by the World Bank shows that 9.84% of the total world GDP is current health expenditure, as of 2019. The escalating health expenditure is likely to propel the global market growth during the forecast period. Moreover, clinical studies are a prominent part of drug development. The number of registered clinical trials has increased stupendously and is estimated to reach up to 410 thousand clinical studies in March 2022, which was merely around 2100 in the year 2000. Hence, rising research is likely to fuel the global aspirin exacerbated respiratory disease market growth.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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The market is segmented by distribution channel into hospital pharmacies, retail stores, and online pharmacies. Out of which, the retail pharmacies segment is anticipated to hold the largest share in the global aspirin exacerbated respiratory disease market on account of the easy availability of the products. Since retail pharmacies are easily available to people, which is the reason the market growth is estimated to shoot up during the forecast period.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Route of Administration |
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By Distribution Channel |
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Regionally, the global aspirin exacerbated respiratory disease market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is poised to dominate majority revenue share by 2037, propelled by presence of a plethora of pharmaceutical companies. It is estimated that in the USA alone there are 2100 pharmaceutical manufacturing businesses. Furthermore, asthma patients in the region are also drastically increasing. The data released by the Asthma and Allergy Foundation of America states that approximately 25 million people in the USA have asthma. The surging asthma cases in the North America region are anticipated to propel the global market growth during the forecast period.
The Asia Pacific region is also estimated to offer lucrative opportunities for the growth of the global aspirin exacerbated respiratory disease market during the forecast period. The region is highly populous and large economies such as, India and China are allotting humongous budgets to the health care sector. Furthermore, the report published by the WHO states that 1 in every 10 asthma patients globally is living in India. Hence the rising cases of asthma are also projected to foster regional growth.
Author Credits: Radhika Pawar
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