The Global Inhalable Drugs Market Is Driven By Increasing...

The Global Inhalable Drugs Market Is Driven By Increasing Prevalence Of Respiratory Diseases

Posted 2024-06-18 12:32:28

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The Global Inhalable Drugs Market is primarily comprises of pharmaceutical products that can be inhaled through mouth or nasal route. Inhalable drugs are mainly used for the treatment of respiratory diseases such as asthma, COPD and cystic fibrosis. Common inhalable drugs include corticosteroids, bronchodilators and vaccines. These drugs provide localized and direct delivery of medications to the lungs with rapid action and fewer systemic side effects. Inhalable drugs are available in various dosage forms including aerosols, dry powder inhalers and metered-dose inhalers. The increasing prevalence of respiratory diseases, rising geriatric population and growing adoption of advanced inhalable drug delivery technologies are some of the key factors fueling the growth of the Global Inhalable Drugs Market.

The Global Inhalable Drugs Market is estimated to be valued at US$ 34.86 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Global Inhalable Drugs Market includes GlaxoSmithKline plc, AstraZeneca plc, Novartis International AG, Boehringer Ingelheim, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Pfizer Inc., Sanofi, Cipla Ltd., Vectura Group plc, Mylan N.V. (now part of Viatris), Sunovion Pharmaceuticals Inc., MannKind Corporation, Insmed Incorporated, Theravance Biopharma. Major players are focusing on new product launches, expansion of their manufacturing facilities and acquisitions to strengthen their market position.

The growing prevalence of respiratory diseases such as asthma and COPD across both developing and developed countries is significantly driving the demand for inhalable drugs. According to the World Health Organization (WHO), over 300 million people are currently suffering from asthma worldwide. Favorable reimbursement policies by governments and insurance companies for inhalable drugs are also boosting the market growth.

Key players are actively expanding their presence in emerging market such as Asia Pacific, Latin America and Middle East & Africa. Global Inhalable Drugs Market Size Availability of generic inhalable drugs and rapid development of healthcare infrastructure in developing nations will also support the growth of inhalable drugs market on the global level.

Market Drivers

Increasing geriatric population is a major market driver. Older adults are more susceptible to develop respiratory diseases due to age-related weakening of immune system and lungs. According to the United Nations, the population aged 60 years and older is expected to double by 2050 and reach around 2 billion people globally.

Growing adoption of digital health technologies by pharmaceutical manufacturers is supporting the market growth. Key players are engaging in partnerships with digital therapeutics companies for development of smart inhalers integrated with sensors and apps. Such inhalers allow remote monitoring of medication use and symptoms, improving patient compliance and clinical outcomes.