Inhalable Drug Market – Global Industry Analysis and Forecast (2024-2030)

Global Inhalable Drug Market size was valued at US$ 33.61 Bn. in 2023 and the total revenue is expected to grow at 5.82% through 2024 to 2030, reaching nearly US$ 49.95 Bn.
Inhalable Drug Market Overview:
Inhaled drugs, commonly referred to as "inhalants," are a class of chemicals that people inhale into their lungs to get high. This is frequently done by young individuals or those who lack the financial means to acquire more expensive alcoholic beverages. The growing prevalence of pulmonary disorders has provided enormous prospects in the global market for inhalable medications. The usage of inhalation devices by individuals with breathing problems is not a new occurrence. As a result, the market for inhalable medications has been steadily growing.To know about the Research Methodology :- Request Free Sample Report
Inhalable Drug Market Dynamics:
The rising prevalence of respiratory illnesses such as COPD, asthma, and cystic fibrosis is expected to drive market expansion. According to the Centers for Disease Control and Prevention (CDC), asthma affected more than 25 million individuals in the US. in 2017, accounting for 7.7% of the adult population and 8.4% of children.

The rising frequency of non-respiratory disorders including diabetes and Parkinson's disease is predicted to drive demand for inhalable medications.

Parkinson's disease is commonly diagnosed in persons over the age of 60. With age, the prevalence of this condition rises. According to the World Health Organization, the percentage of people aged 60 and over is expected to double from 12% in 2015 to 22% by 2050. As a result, producers are working on inhalable medications that will be easier to administer to the elderly. For example, the USFDA authorized INBRIJA, a prescription drug containing levodopa, for adults in December 2021. Market growth is likely to be fueled by advancements in inhalable pharmaceuticals.

Surfactant carriers, nanocrystals, and micro and nanoparticles are all used in advanced inhalation therapy. As a result, small-molecule research is being done to produce new inhalable medications. Inhalation therapy has better drug systemic availability, convenience over invasive techniques, improved drug interactions, and less toxicity. Market participants are seeing new growth potential when existing non-inhaled compounds are reformulated into inhaled molecules for improved drug delivery.

Strategic Mergers and acquisitions, product launches, are projected to lift the growth of the market in the forecast period. such as Glenmark Pharmaceuticals, for example, signed a license agreement in August 2018 to market Tiotropium Bromide dry powder inhaler to treat COPD in Europe.

Inhalable Drug Market Segment Analysis:

The Dry Powder Formulations segment is dominating the Product segment of the Inhalable Drug Market:

In 2023, the inhalable medicine market was led by dry powder formulations, which had higher efficacy and better results than other forms. Furthermore, the formulation's leading market share is due to the presence of a diverse product portfolio and a solid pipeline. Manufacturers' focus on producing small-sized particle products has shifted, which is expected to fuel market expansion over the forecast period. Cipla, for example, unveiled Niveoli in April 2023, the first extra-fine particle inhaler created in India. In asthma and Chronic obstructive pulmonary patients, the inhaler contains beclomethasone-formoterol and hydrofluoroalkane (HFA), which ensures targeted delivery to tiny airways.

The Respiratory Diseases segment is considered to supplement the growth of the Inhalable Drug Market.

The respiratory diseases segment dominated the growth of the market with a market share of 41.6% in 2023. Chronic respiratory diseases like asthma, COPD, and bronchospasm, as well as non-respiratory diseases like diabetes and Parkinson's disease, are commonly treated with inhalable medications. Owing to its effectiveness, ability to reduce pulmonary inflammation, and reduced need for hospitalization, combination therapy of Inhaled Corticosteroid (ICS), Long-Acting Muscarinic Antagonist (LAMA), and Long-Acting 2 Adrenoceptor Agonist (LABA) is widely used for the treatment of COPD and asthma.

As a result, many pharmaceutical companies have developed combination medicines. For example, in September 2017, the US Food and Drug Administration authorized Trelegy Ellipta, a combination medication for Chronic Obstructive Pulmonary Diseases (COPD), chronic bronchitis, and emphysema. Fluticasone furoate (ICS), umeclidinium (LAMA), and vilanterol are the active compounds in this drug (LABA). Hence, new product launches by the market players is likely to lift the growth of the market in the forecast period.
Inhalable Drug Market Regional Insights:
North America is estimated to dominate the growth of the Inhalable Drug Market.

In terms of revenue, North America led the market in 2019, followed by Europe. Both markets for inhalable medications are fueled by numerous governments, organizations, and company-led awareness campaigns aimed at improving COPD treatment alternatives. For example, in November 2016, Mylan held a COPD Awareness Month to raise awareness about different therapies (inhaled and other bronchodilators) and dosage types. Further, increase in research and development by contract manufactures and government organizations, technological advancement is likely to fuel the growth of the market in the forecast period.

Over the projected period, the Asia Pacific market for inhalable pharmaceuticals is expected to develop at the quickest rate. This is due to a variety of factors, including improved healthcare infrastructure, increased patient knowledge, and increased disposable income of individuals. Furthermore, new market entries result in fierce rivalry, which is predicted to play a key part in creating a growth platform for this regional market in the coming years. Growing medical tourism in several Asian nations is catching the interest of major global players, who are looking to establish operations in several rising economies with strong growth potential.

The objective of the report is to present a comprehensive analysis of the Inhalable Drug Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Inhalable Drug Market dynamics, structure by analyzing the market segments and project the Inhalable Drug Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Inhalable Drug Market make the report investor’s guide.
Inhalable Drug Market Scope: Inquire before buying



Global Inhalable Drug Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 33.61 Bn.


Forecast Period 2024 to 2030 CAGR:
5.82%
Market Size in 2030:
US $ 49.95 Bn.


 Segments Covered:
by Product
Aerosol
Dry Powder Formulation
Spray


by Application
Respiratory Diseases
Non-Respiratory Disease


by Distribution Channel
Hospital Pharmacy
Pharmacy Stores
Other



Inhalable Drug Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Inhalable Drug Market Key Player
1. Teva Pharmaceutical Industries Ltd
2. Cipla Inc
3. Amneal Pharmaceuticals Inc
4. Glenmark Pharmaceuticals Inc
5. AstraZeneca
6. Vectura
7. Sanofi
8. Mylan
9. Mundipharma
10. GlaxoSmithKline
11. Boehringer Ingelheim International GmbH
12. Sunovion Pharmaceuticals, Inc.
13. Philips Healthcare
14. CareFusion Corporation
15. Roche Diagnostics
16. Regeneron
17. Genentech, Inc.
18. Sumitomo Dainippon

Frequently Asked Questions:

1. Which region has the largest share in Global Inhalable Drug Market?
Ans: North America region held the highest share in 2023.

2. What is the growth rate of Global Inhalable Drug Market?
Ans: The Global market is expected to grow at a CAGR of 5.82% during forecast period 2024-2030.

3. What is scope of the Global Inhalable Drug Market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Inhalable Drug Market?
Ans: The important key players in the Global market are – , Teva Pharmaceutical Industries Ltd, Cipla Inc, Amneal Pharmaceuticals Inc, Glenmark Pharmaceuticals Inc, AstraZeneca, Vectura, Sanofi, Mylan, Mundipharma, GlaxoSmithKline, Boehringer Ingelheim International GmbH, Sunovion Pharmaceuticals, Inc., Philips Healthcare, CareFusion Corporation, Roche Diagnostics, Regeneron, Genentech, Inc., and Sumitomo Dainippon.

5. What is the study period of this market?
Ans: The Global market is studied from 2023 to 2030.