Inhalable Drugs Market Size, Share, And Growth Report 2032

Inhalable Drugs Market: Size

The global Inhalable Drugs Market size was worth around USD 1645.12 million in 2023 and is predicted to grow to around USD 3288.6 million by 2032 with a compound annual growth rate (CAGR) of roughly 8.00% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD million). The report covers a forecast and an analysis of the Inhalable Drugs Market on a global and regional level.

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Inhalable Drugs Market: Overview

Oral and injectable drugs are widely used therapies across the globe. However, use of inhalation route of administration is gaining momentum in the market for delivery of peptide, proteins and other drugs. Pulmonary delivery of systemic drug therapies is widely used for treating mainly refractory ailments and chronic diseases. Inhaled drugs are mainly used in chronic obstructive pulmonary disease (COPD) and asthma, to avoid active pharmaceutical ingredient (API) exposure to harsh environment conditions and gastrointestinal tract enzymes.

The demand for inhalable drugs market is driven by increasing prevalence of chronic non-respiratory diseases like diabetes, infectious diseases, Parkinson’s disease and chronic respiratory diseases such as chronic pulmonary obstructive disease (COPD), asthma etc. Additionally, increasing geriatric population across the globe, technological advancements, increasing R&D spending to bring novel inhalation therapy drugs using nanoparticles, nanocrystals, surfactant carriers are other important factors that boost the market growth. The novel therapy helps in increased systemic availability of drugs and can be conveniently administered over invasive methods, minimal toxicity, and improved drug interactions. However, high cost of inhalable drugs may limit the market growth over the forecast period. Emerging markets with increasing aging population and unmet medical needs are expected to bring growth opportunities over the forecast period for global inhalable drugs market.

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Inhalable Drugs Market Segmentation

The study provides a crucial view on the inhalable drugs by segmenting the market based on product, application, and region. All the segments of inhalable drugs market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on product, global inhalable drugs market is segmented into spray, dry powder formulation and aerosol. Dry powder formulation product segment accounted for largest market share in 2023 due to increased efficacy and better performance as compared to other forms. Dry powder formulation segment is expected to witness highest CAGR over the forecast period. Aerosol products will register steady growth in the coming years.

Based on application, inhalable drugs market is categorized into non-respiratory diseases and respiratory diseases. Respiratory diseases segment is sub segmented into chronic obstructive pulmonary disease (COPD), asthma, and other respiratory diseases. Respiratory disease application segment accounted for largest market share in 2023 whereas non-respiratory diseases application segment is projected to witness highest growth over the forecast period. Increasing preference for non-invasive or minimally invasive therapies is expected to drive the demand for inhalable drugs in other non-respiratory diseases.

Inhalable Drugs Market: Report Scope

Inhalable Drugs Market: Regional Analysis

North America dominated the global inhalable drugs market in 2023. Presence of developed healthcare infrastructure, increasing prevalence of respiratory diseases, presence of major players, increasing R&D investments for novel therapy development are factors driving the market in this region. Europe was second largest regional market. Increasing awareness, favorable reimbursement policies and increasing prevalence of respiratory disorders are major factors that boost market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region will exhibit highest growth for inhalable drugs market during the forecast period. Increasing geriatric population with high susceptibility to chronic respiratory disorders and other non-respiratory diseases, increasing healthcare expenditure, growing prevalence of asthma, COPD are factors promoting inhalable drugs market growth in Asia Pacific. Middle East and Africa region is projected to show considerable growth in coming years.

Inhalable Drugs Market: Competitive Players

Major players included in the report are:

• Cipla Inc.
• Boehringer Ingelheim International GmbH
• Mundipharma
• GlaxoSmithKline
• Mylan
• Vectura
• Sanofi
• AstraZeneca

The Global Inhalable Drugs Market is segmented as follows:

Global Inhalable Drugs Market: By Product

• Dry Powder Formulation
• Aerosol
• Spray

Global Inhalable Drugs Market: By Application

• Respiratory Diseases
  • Chronic Obstructive Pulmonary Disease (COPD)
  • Asthma
  • Other Respiratory Diseases
• Non-Respiratory Diseases

Global Inhalable Drugs Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa