The global inhalable drugs market size is expected to reach
over USD 40.6 billion by 2026, according to a new report by Grand View
Research, Inc., registering a CAGR of 6.3% over the forecast period. Rising
prevalence of respiratory diseases and increasing geriatric population are some
of the key factors expected to drive the market. Chronic obstructive pulmonary
disease (COPD) is a life-threatening respiratory ailments, which is projected
to become the third leading cause of death globally. This will increase the demand
for inhalable drugs.
According to the Global Burden of Disease
study, in 2016, 251 million cases of COPD were reported worldwide. Hence, the
need for developing new inhalable drugs has increased. For instance, in January
2019, Verona Pharma received WHO approval for developing Ensifentrine indicated
for COPD, which has completed Phase II of clinical trials.
Advancements in inhalable drugs is anticipated
to propel the inhalable drugsmarket. Nanoparticles are studied for the
development of advanced inhalation drugs. For instance, in April 2019, a
scientist from Queensland University of Technology conducted a research using
chitosan nanoparticles loaded with inhalation powder for lung cancer. These
nanoparticles can easily penetrate the lower respiratory tract and can diffuse
into the bloodstream.
Rising prevalence of non-respiratory diseases
such as diabetes and Parkinson’s diseases is also expected to drive the market.
Therefore, manufacturers are developing cost-effective and innovative inhalable
drugs. For instance, in January 2019, MannKind Corporation developed and
commercialized Afrezza for diabetic patients.
Presence of strong pipeline drugs is
considered to be one of the major factors estimated to boost the market growth.
There are more than 220 ongoing projects under clinical trials globally. For
instance, GlaxoSmithKline’s triple combination therapy of Fluticasone
Furoate/Vilanterol/Umeclidinium Bromide to treat asthma is in Phase III and is
likely to be launched during the forecast period.
Companies are undergoing strategic initiatives
such as collaborations, mergers and acquisitions, partnerships, and awareness
programs to widen their product portfolio and gain a stronger foothold in the
market. For instance, in July 2019, Cipla, Inc. entered into a joint venture
with Shanghai-based Jiangsu Acebright Pharmaceuticals to establish a company in
the People’s Republic of China to manufacture respiratory products.
Browse full research report on Inhalable
Drugs Market:
https://www.grandviewresearch.com/industry-analysis/inhalable-drugs-market
Further key
findings from the study suggest:
- By product, the dry powder formulation segment
dominated the market for inhalable drugs in 2018 owing to benefits such as
low density and ability to disperse easily through inhalers
- Based on application, respiratory diseases
held the largest market share in terms of revenue in 2018, due to high
prevalence of asthma and COPD. The non-respiratory diseases segment is
growing at a rapid pace owing to the high opportunity in management of various
neurological disorders
- North America held the leading position in the
global inhalable drugsmarket for inhalable drugs in 2018, driven by
established pharmaceutical industry and healthcare facilities and growing
awareness about the use of inhalers. The Asia Pacific market is projected
to exhibit the fastest growth during the forecast period.
- Key players in this industry include
AstraZeneca; Vectura, Cipla Inc.; GlaxoSmithKline; Novartis; Mundipharma;
Boehringer Ingelheim International GmbH; and Mylan.
Browse request sample of this report by
Grand View Research: https://www.grandviewresearch.com/industry-analysis/inhalable-drugs-market/request/rs1
Grand
View Research has segmented the global inhalable drugs market on the basis of
product, application, and region:
Inhalable
Drugs Product Outlook (Revenue, USD Million, 2014 - 2026)
- Aerosol
- Dry Powder
Formulation
- Spray
Inhalable
Drugs Application Outlook (Revenue, USD Million, 2014 - 2026)
- Respiratory Diseases
- Non-Respiratory
Diseases
Inhalable
Drugs Regional Outlook (Revenue, USD Million, 2014 - 2026)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East &
Africa
- Saudi Arabia
- South Africa
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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