Global Inhalable Drugs Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Inhalable Drugs Market”, which is a report produced by MarketResearch.biz, provides deep in-depth into the global inhalable drugs market in a confident manner. Presentation of revenue details, both historical and projected, provide a deep understanding of the potential in the market currently as well as over the next 10 years. Trends, opportunities, drivers, threats, and restraints are also explained. The report offers insightful and detailed profiles of the top players in the market and has been segmented based on product, application, and region.
Inhalable drugs are widely used for treating chronic diseases such as bronchospasm, COPD, and asthma and non-respiratory diseases such as Parkinson's disease and diabetes. Medicines that one breath directly into lungs are a very important part of treatment for lungs. A variety of combinations of inhaled medicines are used for the treatment of many lung diseases including asthma and COPD. Medicines that are designed for inhalation have significant benefits such as rapid onset of action, direct delivery to the disease target site, reduced risk of systemic side effects, and high and long-term pulmonary efficacy. One dose of inhalable medicine contains only 40 times less medication than a tablet but delivers the same result if taken properly. Practicing correct inhaler technique will save people from getting admitted to hospitals. If taken correctly, inhalable medication is very beneficial and useful for patients with diseases such as bronchospasm, COPD, and asthma and non-respiratory diseases such as Parkinson's disease and diabetes than wallowing tablets with high dosage. Inhalable drugs contain corticosteroids such as ciclesonide, flunisolide, beclomethasone, budesonide, fluticasone, or mometasone.
Growing prevalence of various respiratory diseases such as asthma, Chronic Obstructive Pulmonary Diseases (COPD), and cystic fibrosis are expected to drive growth of the inhalable drugs market in the global inhalable drugs market during the forecast period. 25 million people in the US were suffering from asthma in 2017, according to the Centres for Disease Control and Prevention (CDC). This amounts to approximately 8.4% of children and 7.7% of the adult population. In addition, rising prevalence of various non-respiratory diseases including Parkinson’s disease and diabetes are key factors expected to drive growth of the inhalable drugs market in the global inhalable drugs market during the forecast period. Parkinson’s disease is common in people aged 60 and above. Rate of prevalence of this disease increases in people with age. According to the reports from WHO, the percentage of people aged 60 and above is expected to increase 22% by 2050. Therefore, key players in the market are developing their inhalable drugs to cater to the increasing needs of the geriatric population for the drugs. Another factor driving growth of the market is advancements in inhalable drugs. Advanced inhalation therapy use nanocrystals surfactant carriers, and micro and various nanoparticles. Therefore, innovative researches are being done on small molecules for developing more innovative inhalable drugs. These innovations in inhalation therapies offer convenience over invasive methods, increased systemic availability of drugs, minimal toxicities, and improved drug interactions. All these innovations related to inhalable medication are expected to fuel demand for inhalable drugs in the global inhalable drugs market during the forecast period.
Global Inhalable Drugs Market Segment Analysis:
By product: Among the product segments, the dry powder formulation segment accounted for the major part of the revenue share, and this is expected to continue over the forecast period. This is attributed to better results and high efficiency compared to other segments such as aerosol and spray.
By Application: Among the application segments, the respiratory diseases segment accounts for highest revenue share in the global inhalable drugs market and this dominance is expected to continue over the forecast period. this growth of the segment is attributed to increasing use of inhalable drugs for the treatment of chronic respiratory diseases such as asthma, bronchospasm, and COPD.
Global Inhalable Drugs Market Regional Analysis:
The market in North America is projected to maintain its dominance in terms of revenue share, which is attributed to various awareness programs conducted by governments in the regions. This awareness program helped consumers to understand various benefits of using inhalable drugs in the treatments for respiratory and non-respiratory diseases. This caused increasing adoption of inhaler drugs in the region by consumers as part of various related diseases.
Global Inhalable Drugs Market Segmentation:
- Dry Powder Formulation
- Respiratory Diseases
- Non-Respiratory Disease
- North America
- Asia Pacific
- South America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Apple Inc.
- Google LLC
- Fitbit, Inc.
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