The Inhalable Drugs Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Inhalable Drugs Global Market Report 2024, 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.
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.
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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
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.
The inhalable drugs market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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