Inhalation Spray Based Drugs Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global inhalation spray-based drugs market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Inhalation spray-based dosage forms are used for direct delivery of medicament to the lungs in order to produce local and systematic effects. It consists of a drug formulation and container-closure system. The global inhalation spray-based drugs market is driven by increasing prominence of respiratory diseases such as COPD and asthma that has created the requirement for improved drug delivery mechanisms among others.

Growth in the market for global inhalation spray-based drugs is largely driven by factors such as the increase in chronic diseases, rapid development of health care and medical care, high acceptance of the latest tools and methods, and growing revenue by several public and private companies. In addition, a growing focus on drug development, increased demand for accurate medicine, higher adoption of home care settings and diagnostic facilities, increased investment in R&D activities are expected to further boost global inhalation spray-based drugs market.

The majority of the inhalation and nasal spray-based drugs are generic formulations that are cost-effective and preferred by both prescribers and patients. In addition, easy handling, quick onset of action, adoption by geriatric population and children, among other are some other factors fueling the growth of the global inhalation spray-based drugs market.

All generic medicines approved by the US FDA met strict standards such as the patented drug. It is available at affordable prices. The expiration of the drug patent leads to competition among generic manufacturers to produce generic versions at lower prices. For instance, in February 2020, Perrigo Company and Catalent Pharma Solutions announced the attainment of abbreviated new drug application approval from the U.S. FDA for the generic version of ProAir HFA. ProAir HFA is a medication for the treatment and prevention of reversible obstructive airway disease and bronchospasm.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Product Type
•By Indication
•By Distribution Channel
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Allergan plc, AstraZeneca plc, Boehringer Ingelheim GmbH, GlaxoSmithKline plc., and Teva Pharmaceuticals Inc., among others.

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Global Inhalation Spray Based Drugs Market Report by Segment
By Product Type
•Corticosteroids
•Bronchodilators
•Antihistamines
•Combination Drugs
By Indication
•Asthma
•COPD
•Allergic Rhinitis
•Others
By Distribution Channel
•Hospital Pharmacy
•Retail Pharmacy
•Drug Stores
•Clinics

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.