According to the global Inhalation And Nasal Spray Generic Drugs market size was estimated at USD 17.51 billion in 2021 and is expected to surpass around USD 38.45 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 8.98% during the forecast period 2022 to 2030.
According to the global Inhalation And Nasal Spray Generic Drugs market size was estimated at USD 17.51 billion in 2021 and is expected to surpass around USD 38.45 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 8.98% during the forecast period 2022 to 2030.
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The market is primarily driven by the rising incidence of chronic respiratory diseases globally. According to the Global Asthma Report, nearly 330 million people have asthma worldwide and this number is expected to reach more than 400 million cases by 2025. Increasing tobacco use, air pollution, and smoking are some of the major causes leading to rising asthma cases globally.
New product launches, mounting prevalence of chronic respiratory diseases, growing demand for cost-effective medicines, and rising geriatric population are some of the major factors boosting the market growth.
Rising demand for cost-effective medicines and government support for the use of generics is expected to drive the demand for inhalation and nasal spray generic drugs over the forecast period. For instance, the Government of Japan has been promoting the usage of inexpensive generic drugs in order to regulate the overall pharmaceutical expenditure. This was accomplished through the execution of regulations to encourage the use of generic drugs in the past decade.
Rising number of M&A, partnerships, and collaborations among leading manufacturers including Teva Pharmaceuticals, Glenmark Specialty S.A., and Hikma Pharmaceuticals PLC is another major factor propelling the growth. For instance, in January 2022, Glenmark Specialty S.A., a Swiss subsidiary of Glenmark Pharmaceuticals Ltd., partnered with Lotus International Pte. Ltd. for marketing Ryaltris nasal spray in Vietnam, Hong Kong, and Singapore. Under this agreement, Glenmark Specialty S.A. will manufacture and supply Ryaltris, and Lotus International Pte. Ltd. will commercialize the product. Similarly, in February 2020, Glenmark Specialty signed a licensing agreement with Hikma Pharmaceuticals PLC to commercialize Ryaltrisin in the U.S.
Extensive research in the respiratory drug discovery and generic product approvals of inhalation and nasal drugs by pharmaceutical companies are projected to fuel growth. For instance, in March 2021, Cipla Inc. received ANDA approval from the U.S. FDA for Sumatriptan Nasal Spray, a generic equivalent of Imitrex Nasal Spray indicated for migraine treatment. In addition, in May 2020, the company received Competitive Generic Therapy designation from FDA along with ANDA approval for Dihydroergotamine Mesylate Nasal Spray, a generic version of Migranal.
Report Scope of the Inhalation And Nasal Spray Generic Drugs Market
| Report Coverage | Details |
| Market Size | US$ 38.45 Billion by 2030 |
| Growth Rate | CAGR of 8.98% from 2022 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Drug class; indication; patient demographics; end-user; distribution channel and Region, |
Key Takeaways:
- By Drug Class, the Japan Inhalation And Nasal Spray Generic Drugs market was valued at USD 1.2 Billion in 2021 and expected to witness growth at a CAGR of 10.9% from 2022 to 2030.
- The chronic obstructive pulmonary disease (COPD) indication segment is expected to witness the fastest growth over the forecast period due to the launch of generic products and increased prevalence of COPD in low- and middle-income countries
- Based on patient demographics, the pediatric patients segment is expected to witness the fastest growth over the forecast period due to an increase in pollution, smoking, and exposure to environmental allergens such as pollens
- The homecare end-user segment dominated the market in 2021 owing to a rise in the prevalence of chronic diseases and rising geriatric population suffering from chronic respiratory diseases
- The online pharmacies distribution channel segment is expected to witness the fastest growth over the forecast period due to consumer needs for low prescription costs, increased internet penetration, and ease of access
- North America dominated the market in 2021 due to strategic initiatives and collaborations among key players for the development and launch of generic products in this region
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Regional Insights
North America dominated the market with a revenue share of over 35.0% in 2021. The launch of new products, acquisitions and partnerships, and increased prevalence of chronic respiratory diseases are the major factors fueling the regional growth. According to the CDC, the prevalence of chronic obstructive pulmonary disease (COPD) in the U.S. is 57 per 100,000 in men and 40.5 per 100,000 among women. The launch of generic versions of nasal sprays is expected to fuel market growth. For instance, in December 2021, Sandoz launched a generic form of Narcan (naloxone HCl) Nasal Spray indicated for opioid overdose reversal in the U.S.
Asia Pacific is expected to register a lucrative CAGR of 11.23% during the forecast period. The growth of the region is attributed to the strategic partnerships to manufacture generic products in the region. For instance, in August 2021, CDMO Bora Pharmaceuticals Laboratories Inc. partnered with Kyowa Pharmaceuticals Industry Co. Ltd. to manufacture generic products, including nasal sprays, in Japan. This contract strengthens and increased visibility of Taiwan’s pharmaceutical capabilities.
Some of the prominent players in the Inhalation And Nasal Spray Generic Drugs Market include:
- Teva Pharmaceuticals Industries Ltd.
- Mylan N.V.
- Akorn, Operating Company LLC
- Cipla Inc.
- Sandoz International GmBH (Novartis AG)
- Apotex Inc.
- Hikma Pharmaceuticals PLC
- Sun Pharmaceuticals Industries Ltd.
- Beximco Pharmaceuticals Ltd.
- Nephron Pharmaceuticals Corporation
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Inhalation And Nasal Spray Generic Drugs market
- Drug Class
- Bronchodilators
- Combination Drugs
- Corticosteroids
- Decongestant Sprays
- Antihistamines
- Others
- Indication
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Allergic Rhinitis
- Others
- Patient Demographics
- Geriatric Patient
- Adult Patient
- Pediatric Patient
- End-user
- Hospitals
- Homecare
- Others
- Distribution Channel
- Hospitals Pharmacy
- Retail Pharmacy
- Online Pharmacies
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Objectives of the Study
- To define, describe, and forecast the Inhalation And Nasal Spray Generic Drugs market based on type, technology, application, end user, and region
- To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
- To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
- To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Inhalation And Nasal Spray Generic Drugs market
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