The global inhalable drugs market is expected to grow at a CAGR of around 6.4% from 2019 to 2026 and projected to reach the market value of around US$ 41.5Bn by 2026.
Inhalable drugs refer to the group of substances that people inhale into the lungs to treat infections or particular diseases. These drugs are inhaled as a dry powder or as a solution by aerosols. Dry powders are inhaled into the lungs by taking a deep, fast breath through the inhaler. Moreover, the common aerosol used drugs are bronchodilators and anti-inflammatory agents, which are used for respiratory diseases including asthma and chronic obstructive pulmonary disease (COPD). In addition, aerosol drug delivery for respiratory diseases has advantages including minimal systemic side effects among others.
The inhalable drugs are also gaining growth owing to the increasing popularity of the procedure due to its advantages over the oral and parenteral drug administration like direct injection into the body or by bypassing the skin and mucous membranes. The rising prevalence of non-respiratory diseases such as Parkinson’s disease and diabetes is accelerating market growth. Along with these, the growing geriatric population and advancements in inhalable drug therapies are further supporting the market value. Additionally, increasing investment in research and development activities coupled with unmet medical needs is expected to create potential opportunities over the forecast period.
On the flip side, stringent regulations and availability of alternative therapy are likely to hinder the growth over the forecast period.
By type, Dry Powder Formulation segment accounted for the maximum share
In 2018, the dry powder formulation segment dominated the inhalable drugs market with major shares due to the high efficacy and better results. The formulation of high dose drugs coupled with the innovative developments in the field is particularly supporting the segment growth.
Respiratory diseases segment accounted for the major share in the Inhalable Drugs Market
The application of inhalable drugs in respiratory diseases segment held the potential share in the year 2018. The respiratory diseases where inhalable drugs are used include asthma, chronic obstructive pulmonary disease (COPD), infectious diseases, and other respiratory diseases. The rising prevalence of respiratory diseases owing to the changing lifestyle, and increasing air pollution is contributing to the segment growth.
The market research study on “Inhalable Drugs Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global Inhalable Drugs market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global inhalable drugs market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global inhalable drugs market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The inhalable drugs market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
North America held the major market share of Inhalable Drugs Market
In terms of region, North America dominated the global inhalable drugs market in the year 2018 and the region is also anticipated to maintain its dominance over the estimated year. The availability of advanced products and increasing awareness programs by the government and major players in the regional market is further supporting the market growth.
The Asia Pacific is expected to witness the fastest growth over the forecast period owing to the increasing disposable income and increasing investment in the healthcare sector by government and non-governmental bodies.
The players profiled in the report include AstraZeneca, Sanofi, Vectura, Mylan, GlaxoSmithKline, Mundipharma, Boehringer Ingelheim International GmbH, Cipla Inc. and Others. The major players involved in mergers and acquisitions and new product development for the expansion of market share.
Market By Type
Market By Application
Market By Geography
Inhalable drugs refer to the group of substances that people inhale into the lungs to treat infections or particular diseases.
The rising prevalence of non-respiratory diseases such as Parkinson’s disease and diabetes is main driver of the inhalable drugs market.
Acumen Research and Consulting says that the inhalable drugs market value is anticipated to be worth around US$ 41.5 million in 2026.
The inhalable drugs market is anticipated to grow over 6.4 % CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for inhalable drugs market.
Asia Pacific is projected to grow at a fast pace during forecast period in the inhalable drugs market.
AstraZeneca, Sanofi, Vectura, Mylan, GlaxoSmithKline, Mundipharma, Boehringer Ingelheim International GmbH, and Cipla Inc. are the key players operating in the inhalable drugs market.