Zion Market Research has published a new report titled “Inhalable Drugs Market by Product (Spray, Dry Powder Formulation and Aerosol); by Application (Respiratory Diseases (Chronic Obstructive Pulmonary Disease (COPD), Asthma, and Other Respiratory Diseases) and Non-Respiratory Diseases): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for inhalable drugs market was valued at approximately USD 24.89 billion in 2018, and is expected to generate revenue of around USD 39.57 billion by end of 2025, growing at a CAGR of around 6.9% between 2019 and 2025.
The study provides a crucial view on the inhalable drugs by segmenting the market based on product, application, and region.
Inhaled drugs are widely been used for respiratory disorders. However, currently inhalation route of administration is used to specific site drug delivery. Pulmonary delivery of systemic drug therapies such as proteins, peptides, and other drugs is used for chronic diseases and refractory ailments. Using inhalation therapy, exposure of active pharmaceutical ingredient (API) to harsh environmental conditions and enzymes in gastrointestinal tract can be avoided. This treatment is of importance for drugs that are not stable under such harsh conditions.
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The demand for inhalable drugs market is driven by growing prevalence of chronic respiratory diseases such as chronic pulmonary obstructive disease (COPD), asthma and other chronic non-respiratory diseases like infectious diseases, diabetes, Parkinson’s disease etc. This growth is supported by growing aging population across the globe, increasing R&D spending to develop novel inhalation therapies using nanocrystals, nanoparticles, surfactant carriers etc. and technological advancements. Development of novel therapy aims to increase systemic availability of drugs, minimal toxicity, convenient administration over invasive methods, and improved drug interactions. However, market growth may be restrained by high cost of inhalable drugs and lack of patient adherence. High unmet medical needs and increasing aging population in emerging markets are expected to open growth avenues in the coming years for global inhalable drugs market.
Based on product, market is segmented into dry powder formulation, spray, and aerosol. Among the product segment, dry powder formulation held largest market share in 2018. This large share is attributed to higher efficacy and better performance over other forms. Dry powder formulations are also estimated to see highest growth in the coming years. Aerosol product segment will exhibit stable growth over the forecast period.
Based on application, market is segmented into respiratory and non-respiratory diseases. Non-respiratory diseases segment is forecasted to be rapidly growing segment over the forecast period. Growing adoption of minimally invasive or non-invasive therapies is expected to boost the inhalable drugs demand in treatment of non-respiratory diseases. In 2018, respiratory disease application segment held for largest revenue share. Respiratory diseases segment is sub segmented into asthma, chronic obstructive pulmonary disease (COPD), and other respiratory diseases.
North America was largest regional market in 2018 for the global inhalable drugs market. Rising prevalence of respiratory diseases, availability of developed healthcare facilities, growth in R&D investments for development of novel inhalable therapies and presence of major players are factors driving the market in this region. Europe was second leading regional market. Favorable reimbursement policies, growth in occurrence of respiratory disorders and increasing health awareness are major factors that fuel market growth in this region. Latin America is estimated to witness moderate growth over the forecast period. Asia Pacific region is projected to witness highest growth in the coming years for inhalable drugs market. This high growth will be attributed to increasing aging population with high vulnerability to chronic respiratory disorders like asthma, COPD, use of inhalable drugs for treating other non-respiratory diseases, rising healthcare spending. Middle East and Africa region is estimated to register noticeable growth in the coming years.
Major players included in the report are Boehringer Ingelheim International GmbH, GlaxoSmithKline, Cipla Inc., Mylan, Mundipharma, Sanofi, Vectura, and AstraZeneca among others.
The report segment of global inhalable drugs market as follows:
Global Inhalable Drugs Market: By Product
Global Inhalable Drugs Market: By Application
Global Inhalable Drugs Market: By Region
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