Inhalable Drugs Market was valued USD 28.4 billion in 2020 and is anticipated to generate revenue of USD 53.2 billion by end of 2030, rising at a CAGR of 6.5 % during the forecast period. Inhalable drugs state to the group of substances that people inhale into the lungs to treat infections or particular diseases.  The demand for inhalable drugs market is driven by increasing incidence of chronic non-respiratory diseases like infectious diseases, diabetes, Parkinson’s disease and chronic respiratory diseases such as chronic pulmonary obstructive disease (COPD), asthma others. The Centre for Disease Control and Prevention (CDC) rated complications from Parkinson’s Disease as the 14th cause of death in the U.S. Population incidence of Parkinson’s disease growing   from about 1% at age 60 to 4% by age 80. Observing the pattern of growing manufacturers are developing inhalable drugs for ease of management in geriatric population. According to the Parkinson’s foundation approximately 60,000 Americans are identified every year with this disease. 10 million people worldwide are affected with this disease and men are more likely to have than women. Asthma is the most common chronic disease worldwide among children. Centre for disease control and prevention (CDC), has recorded that 1 in 13 people have asthma. More than 25 million Americans have asthma this is 7.7% of adults and 8.4% of children.

Market Segmentation:

On the basis of products type, the global inhalable drugs market is divided into aerosol, dry powder formulation, and spray. Based on the application type, the market is segmented into respiratory and non respiratory diseases. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  

Market Dynamics and Factors:

Technological advancements, increasing geriatric population across the globe are the key growth drivers for the inhalable drugs market. Emerging markets with increasing aging population and unmet medical needs are expected to bring the demand of these inhalable drugs positively influencing the inhalable drugs market. The novel therapy helps in increased systemic availability of drugs and can be conveniently administered over invasive methods, minimal toxicity, and improved drug interactions. Rising incidence of various non- respiratory diseases which are diabetes and Parkinson’s disease are major factors to drive the inhalable drugs market growth. The rate of incidence of these diseases occurs in geriatric population. The disease is common in people with aged 60 and above. WHO (world health organization) reports have recorded that the percentage of people aged 60 and above is expected to rise by 22% by 2050. The most common end users of inhalable drugs are asthma patients. Asthma attacks need fast medical recourse, therefore its essential for patients to carry their medication at all times. This has led to increased usage of inhalers due to the unpredictability of an asthma attack. Climate change and worsening impact of air quality on the pulmonary health of humans is growing. Moreover, increasing air pollution have resulted in high prevalence of   pulmonary disorders and airborne diseases. This trend has boosted up the sales for the global drugs market. Expenditure on the utilitarian medical drugs and on technologies by the masses has generated positive impact on the inhalable drugs market. Moreover, rising cost of inhalable drugs market will limit the inhalable drugs market growth. Also, stringent regulations will hinder the growth of the market. Increasing R&D spending to bring novel inhalation therapy drugs using nanoparticles, nanocrystals, surfactant carriers are creating opportunity for the inhalable drugs market.

Geographic Analysis:

North America has dominated the global inhalable drugs market in 2018. Increasing incidence of respiratory diseases, growing R&D investments for novel therapy development, presence of developed healthcare infrastructure and the major players, are factors driving the market growth in this region. Europe was second dominating market due to the reimbursement policies and growing incidence of respiratory disorders. Asia Pacific region is the leading market and will display highest growth for inhalable drugs market. Increasing healthcare expenditure, growing prevalence of asthma, increasing geriatric population with high susceptibility to chronic respiratory disorders and other non-respiratory diseases COPD are factors encouraging inhalable drugs market growth in Asia Pacific. RoW region is projected to show considerable growth in coming years.

Competitive Scenario:

Major players included in the Inhalable drugs market are Cipla Inc., Boehringer Ingelheim International GmbH, Mundipharma, GlaxoSmithKline, Mylan, Vectura, Sanofi, and AstraZeneca.

Inhalable Drugs Market Report Scope