Inhalation & Nasal Spray Generic Drugs Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Inhalation & Nasal Spray Generic Drugs Market Analysis
The inhalation and nasal spray generic drugs market is anticipated to register a CAGR of nearly 5.4% during the forecast period.
COVID-19 had a notable impact on the inhalation and nasal spray generic drugs market, as one of the main symptoms associated with COVID-19 is shortness of breath. During the pandemic, the demand for inhalation and nasal spray increased. For instance, as per the article published in 2021 by MedComm journal, nasal sprays showed the ability to be an effective COVID-19 treatment and vaccine option. Spray formulations that may inactivate SARS-CoV-2 or restrict its entry into cells were considered helpful in avoiding viral dissemination to the lungs or surrounding people. In the post-pandemic era, relaxed lockdowns and the resumption of healthcare practices are expected to accelerate market growth. People affected by COVID-19 are still suffering from long-term side effects such as shortness of breath and other breathing difficulties. For instance, as per Mayo Clinic 2022 update, most reported post-covid long-term symptoms are lung (respiratory) symptoms, including difficulty breathing or shortness of breath and cough. The inhalation and nasal spray generic drugs market is anticipated to witness growth in the coming years due to long-term breathing issues.
The increasing prevalence of asthma and COPD and the availability of low-cost generic drugs are also significant factors driving the market growth. The global population is getting old rapidly, owing to reduced birth rates and increasing life expectancy. Rapid urbanization in several countries and a large amount of pollution have contributed to a higher rate of respiratory diseases globally. For instance, as per the article published in 2022 by EGU journal, urbanization influences air pollutants through urban development and emission growth and increases health risks. Rapidly growing economies tend to have more urbanization, thereby high chances of air pollution leading to airway and respiratory issues. In such a scenario, the utilization of inhalation and nasal spray generic drugs is expected to boost market growth.
Additionally, the awareness of these diseases and healthcare facilities has increased, and the government is investing in mitigating respiratory ailments. For instance, CDC celebrates world asthma month in May. Moreover, on World Asthma Day (May 3, 2022) and throughout May, people with asthma and organizations dedicated to asthma control and education join together to increase awareness about asthma.
Thus, considering the above-mentioned factors, the inhalation and nasal spray generic drugs market is likely to witness growth during the forecast period. However, strict government regulations associated with generic respiratory drugs restrain the market growth.
Inhalation & Nasal Spray Generic Drugs Market Trends
This section covers the major market trends shaping the Inhalation & Nasal Spray Generic Drugs Market according to our research experts:
Asthma Holds Significant Share in the Global Inhalation and Nasal Spray Generic Drugs Market
Asthma is a major noncommunicable disease (NCD). It affects both children and adults and is the most common chronic disease among children. In the United States, asthma is more common in adult women than in adult men. According to the CDC 2020 report, approximately 25 million Americans suffer from asthma. Asthma affects around 20 million people in the United States aged 18 and over. Furthermore, according to AAFA, approximately 25 million people had asthma in 2021. Also, around 5 million American youngsters had asthma in 2021.
Factors like increasing collaborations and strategic review of generic drugs by key players and government organizations and NGOs' operations in promoting asthma awareness are expected to drive market growth. For instance, in March 2022, the USFDA approved the first generic of Symbicort (budesonide and formoterol fumarate dihydrate) inhalation aerosol for treating two common pulmonary health conditions, including asthma in patients six years of age and older. Moreover, in July 2020, Novartis received approval for Enerzair Breezhaler, including the first digital companion (sensor and app) that can be prescribed alongside treatment for uncontrolled asthma in Europe. Additionally, Akorn Operating Company LLC, a specialty pharmaceutical company, is commencing a review of strategic alternatives for its consumer health business. This strategic review is a reaction to management's continued focus on its prescription generic and branded drug portfolio.
Hence, as per the aforementioned factors, the asthma segment is likely to witness growth in the market studied during the forecast period.
North America is Expected to Witness a Growth in the Inhalation and Nasal Spray Generic Drugs Market During the Forecast Period
The North American inhalation and nasal spray generic drugs market is anticipated to have a significant share of the global market owing to the increasing burden of asthma and COPD coupled with well-established healthcare infrastructure and rising awareness. According to the Government of Canada report, chronic obstructive pulmonary disease (COPD) affected 453,700 and 488,100 people in 2019 and 2020, accounting for 7.2% and 7.5% of the total population, respectively. Hence increasing number of chronic respiratory diseases in the North American region is a driving factor for the utilization of nasal and inhalational generic drugs, thereby boosting the market growth.
Furthermore, all the fatalities associated with Asthma can be avoided with proper treatment and care. As per the IARC estimations, the number of people likely to be affected with lung cancer is estimated as 347 thousand by 2040 in North America. Additionally, as per the Illinois Department of Central Management Services, 2022, annual direct costs per patient in the United States are more than USD 3,000. Due to the high prevalence of asthma and increasing investment in asthma treatment in the country, the market is expected to show significant growth in the future. Furthermore, the presence of key market players and the advancement of product technologies are fuelling the region's market growth. For instance, in March 2021, in Mexico and the United States, AstraZeneca PLC started a Phase III clinical trial to assess the efficacy and safety of budesonide/glycopyrronium/formoterol inhalers in adults and adolescents with severe asthma inadequately controlled with the standard of care. The trial is expected to be completed in September 2023.
As a result, the factors mentioned above are likely to drive market demand in the studied region during the forecast period.
Inhalation & Nasal Spray Generic Drugs Industry Overview
The market is fragmented and consists of several major players. The key players are concentrating on innovations and advancements in inhalation and nasal spray generic drugs, which are predicted to enhance competition in the market. Few players now dominate the industry due to adopting new strategies. Many companies are concentrating on mergers, acquisitions, and collaboration to increase their products' regional availability. Companies like Akorn Incorporated, Apotex, Beximco Pharma, Cipla Inc., Hikma (Roxane), Mylan N.V., Novartis AG (Sandoz), Sun Pharma (Ranbaxy), Teva Pharmaceuticals, among others, hold the substantial share in the market.
Inhalation & Nasal Spray Generic Drugs Market Leaders
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Akorn, Inc.
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Cipla Inc.
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Novartis AG (Sandoz )
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Teva Pharmaceuticals Inc
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Apotex Inc.
*Disclaimer: Major Players sorted in no particular order
Inhalation & Nasal Spray Generic Drugs Market News
- August 2022: Lupin received approval from the FDA for Formoterol Fumarate Inhalation Solution, used to treat chronic obstructive pulmonary disease symptoms. The company received approval from the US Food and Drug Administration (USFDA) for the generic version of Mylan Specialty's Perforomist Inhalation Solution.
- March 2022: Viatris Inc., in partnership with Kindeva, received its first FDA approval for the generic version of Symbicort Inhalation Aerosol, Breyna (Budesonide and Formoterol Fumarate Dihydrate Inhalation Aerosol), which is used for the maintenance treatment of asthma and chronic obstructive pulmonary disease (COPD).
Inhalation & Nasal Spray Generic Drugs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Asthma and COPD
4.2.2 Low Cost of Generic Drugs
4.3 Market Restraints
4.3.1 Strict Government Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Drug Class
5.1.1 Corticosteroids
5.1.2 Bronchodilators
5.1.3 Antihistamines
5.1.4 Decongestant Sprays
5.1.5 Other Drug Classes
5.2 By Application
5.2.1 Asthma
5.2.2 COPD
5.2.3 Allergic Rhinitis
5.2.4 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Akorn Incorporated
6.1.2 Apotex
6.1.3 Beximco Pharma
6.1.4 Cipla Inc.
6.1.5 Hikma (Roxane)
6.1.6 Viatris
6.1.7 Novartis AG (Sandoz)
6.1.8 Sun Pharma (Ranbaxy)
6.1.9 Teva Pharmaceuticals Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Inhalation & Nasal Spray Generic Drugs Industry Segmentation
As per the scope of the report, inhalation and nasal spray generic drugs refer to drugs that are intended for inhalation and contain the same chemical substances used for the patented molecule. These products generally include a delivery device. The site of the intended action of the active ingredient may be local or systemic. While inhalation medicines are intended to be deposited in the respiratory tract. Nasal spray medicines are intended to be deposited in the nasal or pharyngeal region.
The inhalation and nasal spray generic drugs market is segmented by Drug Class (Corticosteroids, Bronchodilators, Antihistamines, Decongestant Sprays, Other Drug Classes), Application (Asthma, COPD, Allergic Rhinitis, Other Applications), and Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value in USD million for the above segments.
| By Drug Class | |
| Corticosteroids | |
| Bronchodilators | |
| Antihistamines | |
| Decongestant Sprays | |
| Other Drug Classes |
| By Application | |
| Asthma | |
| COPD | |
| Allergic Rhinitis | |
| Other Applications |
| Geography | ||||||||
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Inhalation & Nasal Spray Generic Drugs Market Research FAQs
What is the current Inhalation and Nasal Spray Generic Drugs Market size?
The Inhalation and Nasal Spray Generic Drugs Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in Inhalation and Nasal Spray Generic Drugs Market?
Akorn, Inc., Cipla Inc., Novartis AG (Sandoz ), Teva Pharmaceuticals Inc and Apotex Inc. are the major companies operating in the Inhalation and Nasal Spray Generic Drugs Market.
Which is the fastest growing region in Inhalation and Nasal Spray Generic Drugs Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Inhalation and Nasal Spray Generic Drugs Market?
In 2024, the North America accounts for the largest market share in Inhalation and Nasal Spray Generic Drugs Market.
What years does this Inhalation and Nasal Spray Generic Drugs Market cover?
The report covers the Inhalation and Nasal Spray Generic Drugs Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Inhalation and Nasal Spray Generic Drugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Inhalation and Nasal Spray Generic Drugs Industry Report
Statistics for the 2024 Inhalation and Nasal Spray Generic Drugs market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Inhalation and Nasal Spray Generic Drugs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
