The global inhalation drugs market size was estimated to be USD 33.61 billion in 2023 and is expected to reach at USD 68.66 billion by 2034 with a CAGR of 6.71% during the forecast period 2024-2034. Growing prevalence of respiratory diseases such as asthma, Chronic Obstructive Pulmonary Disease (COPD), & cystic fibrosis, rising prevalence of non-respiratory diseases such as Parkinson’s disease & diabetes, increasing focus on the development of inhalable medications to facilitate administration by manufacturers, surge in advancements in inhalable drugs, growing research & development activities, rising need for efficient therapies, and increasing approval of inhalation drugs by regulatory bodies are some of the key factors boosting the market growth.
Increasing approval of inhalation drugs by regulatory bodies is predicted to boost the market growth during the forecast period. Advanced inhalation therapy includes the utilization of surfactant carriers, nanocrystals, and micro and nanoparticles. Consequently, research is being undertaken on small molecules to create novel inhalable medications. These developments in inhalation therapies bring about enhanced systemic drug availability, offer greater convenience compared to invasive approaches, improve drug interactions, and minimize toxic effects. The reformulation of existing non-inhaled compounds into inhalable forms for improved drug delivery is opening up new growth prospects for market participants. For instance, in January 2023, AstraZeneca has obtained clearance from the U.S. Food and Drug Administration for Airsupra, an inhalation aerosol containing albuterol and budesonide. Airsupra is designed to lower the chances of asthma exacerbations in individuals who are 18 years and older. This inhalable medication is the result of a collaborative effort between AstraZeneca and Avillion.
By drug class, aerosols was the highest revenue-grossing segment in the global inhalation drugs market in 2023 owing to the rising focus on development of inhalable products that are user-friendly & efficient and surge in launch of new products. Additionally, dry powder formulation is predicted to boost the market growth during the forecast period owing to its superior effectiveness & more favorable outcomes when compared to alternative forms, a diverse array of products & a robust development pipeline for this formulation, and increasing regulatory approvals. For instance, in May 2022, The United Therapeutics Corporation has disclosed that the FDA has given its approval for Tyvaso DPI, an inhalation powder intended for the treatment of pulmonary hypertension and pulmonary arterial hypertension associated with interstitial lung diseases.
By application, respiratory diseases was the highest revenue-grossing segment in the global inhalation drugs market in 2023 owing to the growing adoption of inhalable medications for managing chronic respiratory conditions such as COPD, asthma, & bronchospasm, surge in efforts for the development of combination therapies., and rising approvals by regulatory authorities. For instance, in March 2022, Mylan Pharmaceuticals, a subsidiary of Viatris Inc., has secured FDA approval for its Abbreviated New Drug Application (ANDA) for Breyna inhalation aerosol, a generic alternative to Symbicort. Breyna is intended for patients with asthma and chronic obstructive pulmonary disease (COPD). Additionally, non-respiratory diseases is predicted to grow at fastest CAGR during the forecast period owing to increasing prevalence of diabetes and rising introduction of inhalers as a cost-effective alternative therapy by manufacturers.
By distribution channel, retail pharmacies was the highest revenue-grossing segment in the global inhalation drugs market in 2023 owing to the rising healthcare expenditure, elevated sales of generic drugs, and growing regulatory approvals. For instance, in March 2022, The US Food and Drug Administration (FDA) has given its approval for the first generic version of Symbicort, an inhalation aerosol containing budesonide and formoterol fumarate dihydrate. This medication is designed for the treatment of two prevalent pulmonary conditions, namely asthma in patients aged six years and older. Additionally, online pharmacies is anticipated to grow at fastest CAGR during the forecast period. Online pharmacies provide patients with accessibility and convenience. As internet usage continues to rise, the number of individuals buying products from online pharmacies is rapidly growing.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising prevalence of respiratory disorders, surge in awareness programs conducted by governments, organizations, & companies to improve treatment options for COPD, growing research & development activities. For instance, in May 2023, Zambon has declared the successful enrolment completion in its two critical Phase 3 trials. These studies are structured to assess the safety and effectiveness of Liposomal Cyclosporine A for Inhalation (L-CsA-i) as a treatment for Bronchiolitis Obliterans Syndrome (BOS) in adults who have undergone single lung (BOSTON-1) or double lung (BOSTON-2) transplantation. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing healthcare infrastructure, rising patient awareness, surge in medical tourism, and growing regulatory approvals. For instance, in August 2022, Lupin has been granted FDA approval for its Formoterol Fumarate Inhalation Solution, which is employed in the management of symptoms associated with chronic obstructive pulmonary disease. The company has received the US Food and Drug Administration's (USFDA) endorsement for the generic variant of Mylan Specialty's Perforomist Inhalation Solution.
Increasing approval of inhalation drugs by regulatory bodies is predicted to boost the market growth during the forecast period. Advanced inhalation therapy includes the utilization of surfactant carriers, nanocrystals, and micro and nanoparticles. Consequently, research is being undertaken on small molecules to create novel inhalable medications. These developments in inhalation therapies bring about enhanced systemic drug availability, offer greater convenience compared to invasive approaches, improve drug interactions, and minimize toxic effects. The reformulation of existing non-inhaled compounds into inhalable forms for improved drug delivery is opening up new growth prospects for market participants. For instance, in January 2023, AstraZeneca has obtained clearance from the U.S. Food and Drug Administration for Airsupra, an inhalation aerosol containing albuterol and budesonide. Airsupra is designed to lower the chances of asthma exacerbations in individuals who are 18 years and older. This inhalable medication is the result of a collaborative effort between AstraZeneca and Avillion.
By drug class, aerosols was the highest revenue-grossing segment in the global inhalation drugs market in 2023 owing to the rising focus on development of inhalable products that are user-friendly & efficient and surge in launch of new products. Additionally, dry powder formulation is predicted to boost the market growth during the forecast period owing to its superior effectiveness & more favorable outcomes when compared to alternative forms, a diverse array of products & a robust development pipeline for this formulation, and increasing regulatory approvals. For instance, in May 2022, The United Therapeutics Corporation has disclosed that the FDA has given its approval for Tyvaso DPI, an inhalation powder intended for the treatment of pulmonary hypertension and pulmonary arterial hypertension associated with interstitial lung diseases.
By application, respiratory diseases was the highest revenue-grossing segment in the global inhalation drugs market in 2023 owing to the growing adoption of inhalable medications for managing chronic respiratory conditions such as COPD, asthma, & bronchospasm, surge in efforts for the development of combination therapies., and rising approvals by regulatory authorities. For instance, in March 2022, Mylan Pharmaceuticals, a subsidiary of Viatris Inc., has secured FDA approval for its Abbreviated New Drug Application (ANDA) for Breyna inhalation aerosol, a generic alternative to Symbicort. Breyna is intended for patients with asthma and chronic obstructive pulmonary disease (COPD). Additionally, non-respiratory diseases is predicted to grow at fastest CAGR during the forecast period owing to increasing prevalence of diabetes and rising introduction of inhalers as a cost-effective alternative therapy by manufacturers.
By distribution channel, retail pharmacies was the highest revenue-grossing segment in the global inhalation drugs market in 2023 owing to the rising healthcare expenditure, elevated sales of generic drugs, and growing regulatory approvals. For instance, in March 2022, The US Food and Drug Administration (FDA) has given its approval for the first generic version of Symbicort, an inhalation aerosol containing budesonide and formoterol fumarate dihydrate. This medication is designed for the treatment of two prevalent pulmonary conditions, namely asthma in patients aged six years and older. Additionally, online pharmacies is anticipated to grow at fastest CAGR during the forecast period. Online pharmacies provide patients with accessibility and convenience. As internet usage continues to rise, the number of individuals buying products from online pharmacies is rapidly growing.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising prevalence of respiratory disorders, surge in awareness programs conducted by governments, organizations, & companies to improve treatment options for COPD, growing research & development activities. For instance, in May 2023, Zambon has declared the successful enrolment completion in its two critical Phase 3 trials. These studies are structured to assess the safety and effectiveness of Liposomal Cyclosporine A for Inhalation (L-CsA-i) as a treatment for Bronchiolitis Obliterans Syndrome (BOS) in adults who have undergone single lung (BOSTON-1) or double lung (BOSTON-2) transplantation. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing healthcare infrastructure, rising patient awareness, surge in medical tourism, and growing regulatory approvals. For instance, in August 2022, Lupin has been granted FDA approval for its Formoterol Fumarate Inhalation Solution, which is employed in the management of symptoms associated with chronic obstructive pulmonary disease. The company has received the US Food and Drug Administration's (USFDA) endorsement for the generic variant of Mylan Specialty's Perforomist Inhalation Solution.
Segmentation: Inhalation Drugs Market Report 2023 - 2034
Inhalation Drugs Market Analysis & Forecast by Drug Class 2023 - 2034 (Revenue USD Bn)
- Dry Powder Formulation
- Aerosol
- Spray
Inhalation Drugs Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Non-Respiratory Disease
- Respiratory Diseases
Inhalation Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Retail Pharmacies
- Online Pharmacies
Inhalation Drugs Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Inhalation Drugs Market: Drug Class Estimates & Trend Analysis
8. Inhalation Drugs Market: Application Estimates & Trend Analysis
9. Inhalation Drugs Market: Distribution Channel Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Inhalation Drugs Market
12. Europe Global Inhalation Drugs Market
13. Asia Pacific Global Inhalation Drugs Market
14. Latin America Global Inhalation Drugs Market
15. MEA Global Inhalation Drugs Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Cipla Inc.
- Zambon
- Sanofi
- Mylan Pharmaceuticals
- AstraZeneca
- GSK plc.
- Lupin Pharmaceutical Inc
- Viatris Inc.
- AstraZeneca
- Vectura Group Ltd
- Mundipharma International
- Boehringer Ingelheim International GmbH
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 33.61 Billion |
| Forecasted Market Value ( USD | $ 68.66 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
