Inhalable Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030

Inhalable Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030

Inhalable Drugs Market By Drug Class (Inhaled Corticosteroids, Short-Acting Bronchodilators, Long-Acting Bronchodilators, Others), Formulation (Spray, Aerosol, And Dry Powder), Application (Asthma, COPD, Bronchitis, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of respiratory disease and rising case of diabetes and parkinson disease across the globe.

The global inhalable drugs market was is estimated to grow at a CAGR of 6.31% during the forecast period from 2024 to 2030. The inhalable drugs market is primarily being bolstered by the rising prevalence of respiratory disease such as asthma, COPD, bronchitis etc. The rising cases of diabetes and Parkinson disease is also contributing to the expansion of the market due to the growing use of inhalable drugs for the treatment of these diseases. Further, air pollution may increase the risk of getting asthma and bad air quality may trigger asthma episodes that needs onsite administration of drugs that can be fulfilled by inhalable drugs. These are the key factors that are responsible in contributing to the positive growth of the inhalable drugs market during the forecast period from 2024 to 2030.

Inhalable Drugs Market Dynamics:

According to data published by the Institute for Health Metrics and Evaluation in 2023, chronic respiratory diseases (CRD) posed a significant global health burden in 2019. With a staggering 454.6 million reported cases worldwide, CRD accounted for 4.0 million fatalities. Alarmingly, without adequate intervention and treatment, this figure is projected to rise, contributing to the rising demand of inhalable drugs.

In February 2023, according to a report published by National Health Service, a healthcare system in England, in the United Kingdom, asthma treatment was provided to a substantial cohort of 5.4 million individuals, with an estimated 160,000 new diagnoses recorded annually.

In 2021, according to the data published by the International Diabetes Federation (IDF) 2021 stated that around 537 million adults aged between 20 and 79 years were suffering from diabetes in 2021. This number is expected to increase from 643 million by 2030 and 783 million by 2045, according to IDF estimates. Therefore inhaled insulin is being widely used for the treatment of diabetes which is fostering the market growth.

In 2023, according to World Health Organization, an estimated 8.5 million people worldwide have Parkinson's Disease (PD) in 2019. According to Parkinson Foundation in 2022, in a recent study, approximately 90,000 Americans diagnosed with Parkinson's disease (PD) each year and it is estimated that this number is expected to increase to 1.2 million by 2030.

Therefore, the rising prevalence of respiratory diseases, growing cases of non-respiratory conditions such as diabetes and Parkinson, and air pollution globally is thereby anticipated to propel the overall growth of the inhalable drugs market during the forecast period from 2024 to 2030.

However, the high cost of inhalable drugs and lack of availability of drugs in low and middle-income countries are some of the key constraints that may hinder the growth of the inhalable drugs market.

Inhalable Drugs Market Segment Analysis:

Inhalable Drugs Market By Drug Class (Inhaled Corticosteroids, Short-Acting Bronchodilators, Long-Acting Bronchodilators, Others), Formulation (Spray, Aerosol, and Dry Powder), Application (Asthma, COPD, Bronchitis, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the drug class segment of inhalable drugs market, the short-acting bronchodilators category is estimated to hold a significant revenue share in the inhalable drugs market owing to its various advantages and applications. The short-acting bronchodilators helped to quickly relive and treat acute asthmatic episodes for a period of three to six hours. They are also known as rescue inhalers as they used in the sudden treatment of asthma when shortness of breath or tightness of chest occurred. Albuterol, in the form of Albuterol metered-dose inhaler, and Levalbuterol is the most commonly used drugs in this category. Albuterol is administered generally when there is sudden shortness of breath, wheezing, chest tightness, and coughing occurred in the patients suffering from asthma and COPD.

In April 2024, Teva Pharmaceutical Industries Ltd. And Launch Therapeutics, Inc., announced a clinical collaboration to develop and commercialize TEV-248 for the treatment of asthma. TEV-248 is a combination of an inhaled corticosteroid with a short-acting beta-agonist (ICS-SABA) for both adult and pediatric asthma indications.

Key players are developing innovative biological therapies for the treatment of respiratory conditions. For instance, in November 2023, Sanofi reported that Dupixent inhaled therapy has demonstrated a notable reduction in COPD exacerbations during its second positive Phase 3 trial. This outcome has expedited the submission process to the FDA and solidified its potential as the inaugural approved biologic treatment for COPD.

Therefore, the various advantages and applications of short-acting bronchodilators category will contribute to the growth of the segment, thereby driving the growth of the overall inhalable drugs market during the forecast period.

North America Is Estimated To Be Largest Market In The Inhalable Drugs Market:

North America is estimated to account for the largest market share in the inhalable drugs market in 2023 due to the high prevalence of respiratory diseases in the region and the large number of patients suffering from diabetes that require inhaled insulin to manage the disease condition are some of the key factors driving the growth of the inhalable drugs market in North America.

According to the Asthma and Allergy Foundation of America in 2022, stated that more than 27 million people were suffering from asthma which accounts for 1 person in every 12 people and more than 2 million adults aged 18 or above are suffering from asthma in the United States. As per the data published by Allergy & Asthma Network in 2023, more than 26 million people were living with asthma in the United States including 7% of adults and 6.5% of children’s.

According to the data provided by the Centers for Disease Control and Prevention (CDC) in 2023, it was estimated that 14.2 million (6.5% of the total population) were diagnosed with COPD in the United States in 2021. In 2023, the American Lung Association published data mentioning that 1.7 million people reported a diagnosis of COPD and other respiratory diseases which is equal to 4.6% of the total population in the United States.

Additionally, key players in the market are concentrating their efforts to sustain their position in the market. These players in the region are focusing on the development and launch of inhalation drugs to treat sudden respiratory disease. For instance, in January 2023, AstraZeneca plc, a pharmaceutical and biotechnology company, announced the FDA has approved Airsupra (albuterol/budesonide) for the treatment of asthma in the United States. This drug is used for treated of asthma for people aged 18 or above. Therefore, the presence of major players is expected to propel the growth of the inhalable drugs market in the region.

Inhalable Drugs Market Key Players:

Some of the key market players operating in the inhalable drugs market include AstraZeneca, Novartis AG, GSK plc, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Pfizer Inc., Sanofi, Viatris Inc., Sunovion Pharmaceuticals Inc., Baxter, Liquidia Corporation, Pulmocide, InCarda Therapeutics, Inc., AbbVie Inc., Amgen Inc., Regeneron Pharmaceuticals Inc., SolAeroMed Inc., Nephron Pharmaceuticals Corporation, Boehringer Ingelheim, and Avalyn Pharma Inc. etc.

Recent Developmental Activities In The Inhalable Drugs Market:

In July 2023, Viatris Inc. in collaboration with Kindeva Drug Delivery launched Breyna (budesonide and formoterol fumarate dihydrate) Inhalation Aerosol. Breyna is drug-device combination product developed for the treatment of asthma and COPD for the patients aged 6 years and older.

In September 2020, GSK plc announced that it has received FDA approval for Trelegy Ellipta for the treatment of asthma in patients aged 18 years and older. It is a combination therapy of three drugs used for asthma as well as for COPD treatment.

In July 2020, Novartis AG, announced that it has received European Commission approval for Enerzair Breezhaler for the treatment of asthma in adult patients.

Key Takeaways From The Inhalable Drugs Market Report Study

Market size analysis for current Inhalable Drugs Market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Inhalable Drugs market.

Various opportunities available for the other competitors in the Inhalable Drugs Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Inhalable Drugs market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Inhalable Drugs market growth in the coming future?

Target Audience Who Can Be Benefited From This Inhalable Drugs Market Report Study

Inhalable Drugs product providers

Research organizations and consulting companies

Inhalable Drugs related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Inhalable Drugs

Various end-users who want to know more about the Inhalable Drugs Market and the latest technological developments in the Inhalable Drugs Market.

Frequently Asked Questions For The Inhalable Drugs Market:

1. What are Inhalable Drugs?

Inhalable drugs refers to the therapeutic medicines that are administered via mouth or nose and reached lungs by breathing through the use of a device. These drugs delivered directly into the lungs, thus providing fast onset of action compared to other route of administration.

2. What is the market for Inhalable Drugs?

The global inhalable drugs market was is estimated to grow at a CAGR of 6.31% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Inhalable Drugs market?

The inhalable drugs market is expected to witness growth due to factors such as the rising prevalence of respiratory disease such as asthma, COPD, bronchitis etc. The rising cases of diabetes and Parkinson's disease are contributing to the expansion of the market due to the growing use of inhalable drugs for the treatment of these diseases. Further, air pollution may increase the risk of getting asthma and bad air quality may trigger asthma episodes that needs onsite administration of drugs that can be fulfilled by inhalable drugs.

4. Who are the key players operating in the global Inhalable Drugs market?)

Some of the market players operating in the inhalable drugs market include AstraZeneca, Novartis AG, GSK plc, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Pfizer Inc., Sanofi, Viatris Inc., Sunovion Pharmaceuticals Inc., Baxter, Liquidia Corporation, Pulmocide, InCarda Therapeutics, Inc., AbbVie Inc., Amgen Inc., Regeneron Pharmaceuticals Inc., SolAeroMed Inc., Nephron Pharmaceuticals Corporation, Boehringer Ingelheim, and Avalyn Pharma Inc., and others.

5. Which region has the highest share in the global Inhalable Drugs market?

North America is estimated to account for the largest market share in the inhalable drugs market in 2023 due to the high prevalence of asthma in the region and the large number of patients suffering from diabetes that require inhaled insulin to manage the disease condition. These are some of the key factors driving the growth of the inhalable drugs market in North America.