What Fueled The Previous Growth In The Inhalable Drugs Market?
The inhalable drugs market has seen considerable growth due to a variety of factors.
•The market for inhalable medications has seen robust growth in the past few years. It is projected to expand from $35.06 billion in 2024 to $37.27 billion in 2025, noting a compound annual growth rate (CAGR) of 6.3%.
Growth during the historical period has been fueled by a rise in the elderly population, patient preference for non-surgical approaches, growing attention to respiratory health, and the development of emerging markets.
What Is The Expected Growth In The Inhalable Drugs Market Size?
The inhalable drugs market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for inhalable drugs is anticipated to experience robust growth in the coming years, expanding to a value of $50 billion in 2029 with a compound annual growth rate (CAGR) of 7.6%.
This growth during the prediction period is due to factors such as increased spending on healthcare, heightened demand for biologics, a growing emphasis on personalized medicine, and regulatory backing for orphan drugs. Going forward, the main trends during the forecast period are likely to be advances in respiratory medications in the field of veterinary medicine, technological advancements, and enhancements in reimbursement policies.
What Are The Leading Drivers Of Growth In The Inhalable Drugs Market?
The growth of the inhalable drug market is expected to be driven by the rising occurrence of respiratory diseases. These are health issues impacting the respiratory system, which comprises the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. Inhalable drugs serve as a pivotal and effective remedy for numerous respiratory disorders, delivering medication straight to the lungs. For example, data from the Australian Bureau of Statistics revealed that in December 2023, 2.5% of the population in 2022, amounting to 638,100 individuals, were afflicted with COPD. The rates were nearly even among males (2.4%) and females (2.6%). Current daily smokers were vastly more prone to have COPD (8.1%) when compared to former smokers (4.4%) and individuals who never smoked (1.6%). Consequently, the escalating occurrence of respiratory diseases is expected to fuel the future inhalable drug market.
How Are The Segments Defined Within The Global Inhalable Drugs Market?
The inhalable drugs market covered in this report is segmented –
1) By Product: Aerosol, Dry Powder Formulation, Spray
2) By Distribution Channel: Hospital Pharmacy, Pharmacy Stores, Other Distribution Channels
3) By Application: Respiratory Diseases, Non-Respiratory Diseases
4) By End Users: Adults, Pediatric, Geriatric
Subsegments:
1) By Aerosol: Metered Dose Inhalers (MDIs), Nebulizers, Soft Mist Inhalers
2) By Dry Powder Formulation: Dry Powder Inhalers (DPIs), Blister Packs, Capsules
3) By Spray: Nasal Sprays, Oral Sprays, Subcutaneous Sprays
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How Are New Trends Expected To Influence The Growth Of The Inhalable Drugs Market?
The surge of product advancements is a significant trend observed within the inhalable drug market. Large corporations functioning in this sector are concentrating on enhancements in inhalable medications to maintain their market standing. A case in point is the Germany-based pharmaceutical company, DMV-Fonterra Excipients GmbH & Co. KG, which broadened its dry powder inhalation (DPI) range with the introduction of Lactohale 400 in July 2022. Crafted to adapt to distinct pharmaceutical company requirements, this new variety was designed in partnership with formulators to guarantee the efficacy of patient outcomes. The broad range of lactose-based additives has been designed to provide suitable features for a variety of inhaled treatments. Lactohale 400, a pulverized, dry lactose category, is ideal for DPI uses that need high flow and stickiness. Its lack of water differentiates it from usual lactose carriers, presenting an altered aerosolization performance compared to lactose monohydrate of the same granule size.
Who Are the Key Players in the Inhalable Drugs Market?
Major companies operating in the inhalable drugs market include:
• Pfizer Inc.
• Merck & Co. Inc.
• Novartis AG
• Sanofi SA
• AstraZeneca plc
• GlaxoSmithKline Plc
• Eli Lilly and Company
• Boehringer Ingelheim International GmbH
• Teva Pharmaceutical Industries Ltd.
• Catalent Inc.
• Sumitomo Pharma Co. Ltd.
• Intertek Group plc
• AptarGroup Inc.
• Cipla Inc.
• Glenmark Pharmaceuticals Inc.
• Piramal Pharma Ltd.
• Zambon S.p.A.
• Sunovion Pharmaceuticals Inc.
• Nelson Laboratories LLC
• Vectura Group Limited
• Abiogen Pharma
• Quotient Sciences
• AeroGen Pharma
• Alaxia S.A.S.
• Pharmaxis Ltd.
• Avalyn Pharma Inc.
• TFF Pharmaceuticals Inc.
What Is The Most Dominant Region In The Inhalable Drugs Market?
North America was the largest region in the inhalable drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the inhalable drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
