Inhalation and Nasal Spray Market Size to Reach USD 46.79 Billion in 2028 | Industry Trends – Increasing Risks of Respiratory Diseases Among the Geriatric Population and Technological Advances in Inhalation Devices
Emergen Research has published its latest report titled “Inhalation and Nasal Spray Market, By Drug Class (Corticosteroids, Bronchodilators, Antihistamines, Decongestant Sprays, Others), By Application (Asthma, Chronic Obstructive Pulmonary Disease, Allergic Rhinitis, Others), and By Region Forecast to 2028”
According to Emergen Research, the global inhalation and nasal spray market size was USD 30.50 billion in 2020 and is expected to reach USD 46.79 billion in 2028 and register a revenue CAGR of 5.5% during the forecast period, 2021-2028.
Market Dynamics:
Revenue growth of the global inhalation and nasal spray market is majorly attributed to factors such as rising prevalence of chronic respiratory conditions such as asthma, allergic rhinitis, and chronic obstructive pulmonary disease (COPD) worldwide, growing risks of respiratory diseases among the geriatric population, rising air pollution levels due to rapidly changing climate, and increasing healthcare expenditure of people. According to a 2019 report published by the World Health Organization (WHO), around 235 million people around the globe were diagnosed with asthma. Growing demand for generic drugs due to relatively lower costs, rising demand for inhalation and nasal sprays, increasing availability of these products both as prescription and over-the-counter drugs, and rising income levels, mainly in developing countries around the world, are some of the other major factors expected to drive the global market revenue growth over the forecast period.
Nasal spray drugs are medications that provide relief from runny, itchy, or stuffy nose caused by common cold, sneezing, hay infections, and other conditions. While, inhalation devices, also known as inhaler devices, are commonly used by individuals suffering from chronic respiratory diseases such as asthma and COPD that cause breathing difficulties. These devices help deliver medicine into the patient’s respiratory tract to help them breathe better. Commonly used inhaler devices are nebulizers, dry powder inhalers, metered-dose inhalers, and soft mist inhalers. Furthermore, technological advances in nasal sprays and inhalation devices and increasing regulatory approvals for new product launches drive market revenue growth.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Combination Drugs Segment Accounted for Largest Revenue Share in 2020:
Based on drug class, the global inhalation and nasal spray market is segmented into corticosteroids, bronchodilators, antihistamines, combination drugs, decongestant sprays, and others. The combination drugs segment accounted for the largest revenue share in the global market in 2020, owing to favorable factors such as growing use of combination drugs (corticosteroids and bronchodilators) in inhalation and nasal sprays for effective management of respiratory conditions including COPD and asthma.
Asthma Segment to Account for Fastest Revenue CAGR:
Based on application, the global inhalation and nasal spray market is segmented into asthma, COPD, allergic rhinitis, and others. The asthma segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising prevalence of chronic respiratory disorders such as asthma, growing geriatric population, and increasing use of inhalation and nasal sprays to relieve difficulty in breathing are key factors boosting this segment’s growth.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America inhalation and nasal spray market accounted for largest revenue share in the global market in 2020. Growing prevalence of asthma, COPD, and other chronic respiratory conditions among children and older adults, rise in geriatric population, increasing number of respiratory health awareness programs, and growing sales of generic inhalation and nasal spray medications are among the major factors driving the North America market growth.
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Major Companies in the Global Inhalation and Nasal Spray Market Include:
- Allergan plc
- Beximco Pharmaceuticals Ltd.
- Cipla Limited
- Mylan N.V.
- Nephron Pharmaceuticals Corporation
- Sun Pharmaceutical Industries Ltd.
- Hikma Pharmaceuticals PLC
- Sandoz International GmbH
- Perrigo Company plc
- Catalent Pharma Solutions
- Teva Pharmaceutical Industries Ltd.
- Roxane Laboratories, Inc.
- Ranbaxy Laboratories Ltd.
For the purpose of this report, Emergen Research has segmented the global inhalation and nasal spray market based on drug class, application, and region:
Drug Class Outlook (Revenue, USD Billion; 2018-2028)
- Corticosteroids
- Bronchodilators
- Antihistamines
- Combination Drugs
- Decongestant Sprays
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Allergic Rhinitis
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
- This study segments the Inhalation and Nasal Spray market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Inhalation and Nasal Spray sectors.
- This Inhalation and Nasal Spray report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the Inhalation and Nasal Spray market.
Key features of the report:
- To study the key aspects impacting the Inhalation and Nasal Spray market size.
- To identify growth prospects in the Inhalation and Nasal Spray market.
- To analyze the Inhalation and Nasal Spray market segments and deduce the dominant trends observed in the industry.
- To examine the Inhalation and Nasal Spray market by investigating the available products, market share, and value proposition of the products.
- To analyze the industry by assessing the scope and application of the Inhalation and Nasal Spray market and highlight the growth of each application.
Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2030
Chapter 3. Key Insights
Chapter 4. Inhalation and Nasal Spray Market Segmentation & Impact Analysis
4.1. Inhalation and Nasal Spray Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Continued…
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