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Inhalable Drugs Market Size, Outlook, Overview 2024-2033

04-24-2024 09:10 AM CET | Health & Medicine

Press release from: The Business research company

Inhalable Drugs Market

Inhalable Drugs Market

The inhalable drugs market size has grown strongly in recent years. It will grow from $33.29 billion in 2023 to $35.48 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increased geriatric population, patient preference for non-invasive treatments, increased focus on respiratory health, emerging markets growth.

The inhalable drugs market size is expected to see strong growth in the next few years. It will grow to $46.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to growing healthcare spending, growing demand for biologics, increasing focus on personalized medicine, regulatory support for orphan drugs. Major trends in the forecast period include advanced respiratory drugs in veterinary medicine, technological innovation, improved reimbursement policies.

Market Overview -
Inhalable drugs refer to medications delivered directly into the respiratory system through inhalation to get high. These drugs are designed to be inhaled into the lungs, where they can be rapidly absorbed into the bloodstream and exert their therapeutic effects.

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Surge In Respiratory Diseases Propels Growth Of Inhalable Drug Market
The increasing prevalence of respiratory diseases is expected to propel the growth of the inhalable drug market going forward. Respiratory diseases are medical conditions that affect the respiratory system, which includes the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. Inhalable drugs are a crucial and effective treatment option for several respiratory disorders as they deliver medication directly to the lungs. For instance, in June 2023, according to the Australian Institute of Health and Welfare, an Australia-based government agency, there were approximately 6,551 deaths or 135 deaths per 100,000 population caused by respiratory chronic conditions in Australia in 2021, representing 27.1% of all deaths. Furthermore, chronic obstructive pulmonary disease (COPD) accounted for 2.6% of underlying-cause respiratory deaths, respectively. Therefore, the increasing prevalence of respiratory diseases will drive the future inhalable drug market.

Competitive Landscape -
Major companies operating in the inhalable drugs market report are Pfizer Inc., Merck & Co. Inc., Novartis AG, Sanofi SA, AstraZeneca plc, GlaxoSmithKline Plc, Eli Lilly and Company, Boehringer Ingelheim International GmbH,Koninklijke Philips N.V., Teva Pharmaceutical Industries Ltd., Mylan N.V., 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, CareFusion Corporation, Alaxia S.A.S., Pharmaxis Ltd., Avalyn Pharma Inc., TFF Pharmaceuticals Inc.

Inhalable Drug Market Evolution Pioneering Product Innovations For Enhanced Patient Outcomes
Product innovations are a key trend gaining popularity in the inhalable drug market. Major companies operating in the inhalable drug market are focused on advances in inhalable drugs to sustain their position in the market. For instance, in July 2022, DMV-Fonterra Excipients GmbH & Co. KG, a Germany-based pharma company, expanded its dry powder inhalation (DPI) portfolio with the launch of Lactohale 400. This new grade can be customized to meet specific pharmaceutical company needs and developed jointly with formulators to ensure patient outcomes. The extensive spectrum of lactose-based additives is intended to provide appropriate characteristics for various inhaled therapies. Lactohale 400 is a crushed, dry lactose type suited to DPI applications requiring high flow and cohesiveness. Its anhydrous nature sets it apart from commonly used lactose carriers and offers a different aerosolization performance than lactose monohydrate with the same particle size.

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Key Segments -

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

Key highlights covered in the report -

1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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