Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global Inhalation And Nasal Spray Generic Drugs Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global inhalation and nasal spray generic drugs market size was estimated to be USD 20.79 billion in 2023 and is expected to reach at USD 53.59 billion by 2034 with a CAGR of 8.99% during the forecast period 2024-2034.
Rising prevalence of chronic respiratory diseases such as asthma & COPD, the accessibility of affordable generic medications, surge in geriatric population, increase in urbanization & pollution, growing rates of smoking, & tobacco usage, rising awareness regarding the chronic diseases & healthcare facilities, surge in investment by government for reducing respiratory ailments, increasing focus on the new product developments & launches, and growing approval of generic inhalation and nasal spray products for respiratory disease treatment are some of the key factors boosting the market growth. 
Growing approval of generic inhalation and nasal spray products for respiratory disease treatment is predicted to boost the market growth during the forecast period. In the treatment of asthma and chronic obstructive pulmonary disease (COPD), generic inhalation and nasal spray drugs serve as the primary delivery method for medications.
Nasal sprays refer to liquid medications that can be sprayed into the nose, while inhalers are devices designed for administering medication in a spray form, which is then inhaled through either the mouth or nose. For instance, in March 2022, Mylan Pharmaceuticals, a subsidiary of Viatris Inc., has obtained FDA approval for its Abbreviated New Drug Application (ANDA) for the inhalation aerosol Breyna. This product is a generic version of Symbicort, and it is intended for use by asthma and COPD patients.
By drug class, bronchodilators was the highest revenue-grossing segment in the global inhalation and nasal spray generic drugs market in 2023 owing to its increasing adoption for treating respiratory diseases, growing prevalence of asthma & COPD, and rising partnerships within market players. For instance, in February 2022, Glenmark Pharmaceuticals Limited, a global pharmaceutical company with a research focus, based in India, has entered into a partnership with SaNOtize, a biotech company headquartered in Canada.
This collaboration aims to introduce the Nitric Oxide Nasal Spray (NONS) for the treatment of COVID-19 in adult patients in India. Additionally, combination drugs is predicted to grow at fastest CAGR during the forecast period owing to rising introduction of combination drugs by key market players, growing research & development activities.
By indication, asthma was the highest revenue-grossing segment in the global inhalation and nasal spray generic drugs market in 2023 owing to the rising occurrence of asthma attacks among children & adults, growing collaborations within market players, surge in the efforts of government organizations and non-governmental organizations (NGOs) in promoting awareness about asthma, and increasing approvals by regulatory bodies.
Additionally, chronic obstructive pulmonary disease (COPD) is predicted to grow at fastest CAGR during the forecast period owing to the surge in launch of new products, increasing demand for generic medications for COPD treatment, and growing regulatory approvals.
By patient demographics, adult patient was the highest revenue-grossing segment in the global inhalation and nasal spray generic drugs market in 2023 owing to the rising number of adult patients suffering from asthma & COPD, and increasing focus on development of novel treatment options by market players. Additionally, pediatric patient is predicted to grow at fastest CAGR during the forecast period owing to the growing utilization of inhalers for the treatment of cystic fibrosis, asthma, & chronic lung disease in children, increased government initiatives in support of childhood asthma awareness programs, and rising launch of new products.
By end-user, homecare was the highest revenue-grossing segment in the global inhalation and nasal spray generic drugs market in 2023 owing to the surge in favorable reimbursement policies, expanding elderly population, increasing healthcare awareness, rising advancement of products enables patients to use inhalers & nasal sprays at home independently, eliminating the need for medical professional assistance.
Additionally, hospitals is predicted to grow at fastest CAGR during the forecast period owing to the growing awareness regarding the management & prevention of asthma attacks in children & adult patients, increasing adoption for managing conditions such as asthma, COPD, & various other respiratory diseases, surge in healthcare spending, and rising approvals by regulatory bodies.
By distribution channel, retail pharmacies was the highest revenue-grossing segment in the global inhalation and nasal spray generic drugs market in 2023 owing to the high healthcare expenditure, surge in sales of generic drugs, increasing regulatory approvals. For instance, in August 2022, Lupin has obtained approval from the US Food and Drug Administration (USFDA) for their Formoterol Fumarate Inhalation Solution.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing launch of new products, surge in acquisitions & partnerships, rising prevalence of chronic respiratory diseases, growing investment in asthma treatment, increasing advancement of product technologies, and surge in approval of new products by regulatory authorities.
Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing partnerships & collaborations within market players to manufacture generic products, increasing prevalence of chronic diseases, and surge in regulatory approvals.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $20.79 Billion |
| Forecasted Market Value (USD) by 2034 | $53.59 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Company Profiles
- Sandoz International GmBH (Novartis AG)
- Cipla Inc.
- Teva Pharmaceuticals Industries Ltd.
- Akorn
- Operating Company LLC
- Hikma Pharmaceuticals PLC
- Apotex Inc.
- Nephron Pharmaceuticals Corporation
- Sun Pharmaceuticals Industries Ltd.
- Mylan N.V.
- Beximco Pharmaceuticals Ltd.
Segmentation: Inhalation And Nasal Spray Generic Drugs Market Report 2023 - 2034
Inhalation And Nasal Spray Generic Drugs Market Analysis & Forecast by Drug Class 2023 - 2034 (Revenue USD Bn)
- Decongestant Sprays
- Combination Drugs
- Antihistamines
- Corticosteroids
- Bronchodilators
- Others
Inhalation And Nasal Spray Generic Drugs Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)
- Chronic Obstructive Pulmonary Disease (COPD)
- Allergic Rhinitis
- Asthma
- Others
Inhalation And Nasal Spray Generic Drugs Market Analysis & Forecast by Patient Demographics 2023 - 2034 (Revenue USD Bn)
- Pediatric Patient
- Adult Patient
- Geriatric Patient
Inhalation And Nasal Spray Generic Drugs Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Homecare
- Hospitals
- Others
Inhalation And Nasal Spray Generic Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Online Pharmacies
- Hospitals Pharmacy
- Retail Pharmacy
Inhalation And Nasal Spray Generic 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
For more information about this report visit https://www.researchandmarkets.com/r/5zyxkx
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
