The global Inhalation And Nasal Spray Generic Drugs Market is projected to have a moderate-paced CAGR of 8.96% during the forecast period.
The current valuation of the inhalation and nasal spray generic drugs market is USD 20.78 Billion in 2023. The value of the inhalation and nasal spray generic drugs market is anticipated to reach a high of USD 49.01 by the year 2033.
This growth in the sales of inhalation and nasal spray generic drugs is supported by the following:
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Due to the rising incidence of asthma attacks in both children and adults, the asthma subsegment is projected to account for over 40.0% of total revenues in 2021.
Approximately 10.3 million US residents, including children and adults under the age of 18, experienced asthma attacks in 2020, accounting for 41% of all incidents, as reported by the CDC's National Health Interview Survey.
Additionally, the number of asthma-related visits to emergency rooms rose by approximately 57% in 2019.
New product introductions and increasing demand for generics in the treatment of chronic obstructive pulmonary disease (COPD) should drive growth in the inhalation and nasal spray generic drugs market sector over the forecast period.
One such example is the generic version of Advair Diskus, WixelaInhub, which was approved by the FDA in January 2019 (manufactured by Mylan N.V.). It is used to treat chronic obstructive pulmonary disease and asthma. The expansion of the demand for inhalation and nasal spray generic drugs is anticipated to be boosted by these kinds of approvals.
| Attributes | Details |
|---|---|
| Market Value (2023) | USD 20.78 Billion |
| Market Value (2033) | USD 49.01 Billion |
| CAGR | 8.96% |
Rising Prevalence of Asthma and Chronic Obstructive Pulmonary Disease
Health issues like asthma and COPD are taken very seriously. A sizable fraction of the world's population is impacted by them. Asthma and chronic obstructive pulmonary disease (COPD) share several risk factors, including smoking, cigarette use, and environmental pollution.
The American Lung Association reports that smoking is the leading cause of COPD and accounts for around 80% of COPD-related fatalities.
Over 360 and 175 million individuals suffered from asthma and COPD in 2015, respectively, according to the Global Burden of Disease Study. Asthma and chronic obstructive pulmonary disease are becoming more common as a result of the improved living standards seen in industrialized nations.
But in poorer nations, where air pollution and smoking are more common, these diseases are more common among the population.
Market growth for generic inhalers and nasal sprays is anticipated to be bolstered by an aging population with chronic respiratory diseases, including COPD and asthma.
Market Growth of Generic Drugs May Be Stifled by Strict Regulations
As more and more low-price generic inhalation and nasal spray medications become available around the world, different regulatory authorities have opted for stringent criteria to focus on quality.
Brazil, Mexico, and Russia are just a few of the emerging countries whose regulatory bodies have recently revised their policies on the sale of generic pharmaceuticals.
The sales of inhalation and nasal spray generic drugs in the global market have been significantly slowed as a result of the new regulatory standards.
Additionally, several pharmaceutical businesses operating in Russia are facing challenges due to the country's new regulatory legislation, which requires clinical trials for generic drugs. Similarly, the Drugs Controller General of India, the country's domestic drug regulatory organization, established several new drug advisory groups to monitor clinical studies, approve new drugs, etc.
Therefore, the demand for inhalation and nasal spray generic drugs is expected to grow slowly as a result of the tough and strict rules imposed by various developing countries.
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With widespread use for the treatment of respiratory illnesses like asthma and COPD, bronchodilators are expected to represent over 25.0% of the market by 2021. Asthma and chronic obstructive pulmonary disease (COPD) are on the rise, which is also fueling.
According to the World Health Organization (WHO), in 2019, there were over 262 million individuals living with asthma worldwide. The Asthma and Allergy Foundation of America estimates that by 2020, over 25 million people in the United States are likely to have asthma.
As a result, the market is likely to be driven by the increasing demand for bronchodilators.
For the duration of the forecast, the market for combination pharmaceuticals is anticipated to grow at a compound annual rate of 9.85%. Combination medicine launched by major companies like Apotex Inc. and Teva Pharmaceutical Industries Ltd. is responsible for most of this expansion.
When it comes to treating allergic rhinitis, for instance, Apotex Inc. introduced a generic version of Dymista (azelastine and fluticasone) nasal spray, originally developed by Meda Pharmaceuticals, in March 2020.
In 2021, retail pharmacies' share of total revenue was over 55.0% due to rising healthcare costs and robust sales of generic drugs. In the United States, for instance, generic medications accounted for almost 90% of prescriptions filled in 2019.
Further, the average profit margin of generics in pharmacies is around 43%, indicating high income. The cost of pharmaceuticals has also risen steadily over time. Examples include a 4.9% increase in pharmaceutical spending in the United States between 2019 and 2020.
The sales of inhalation and nasal spray generic drugs by online pharmacies are projected to expand over the coming years. Patients can benefit greatly from the availability and convenience of online pharmacies.
The number of people who buy drugs from online pharmacies is rising quickly alongside the expansion of internet access. For example, in 2020, there was a 45 percent rise from the year before in the number of products sold through internet pharmacies in Great Britain.
In terms of revenue, North America accounted for more than 35.0% of the demand for inhalation and nasal spray generic drugs in 2021. The key elements fueling the regional expansion are the introduction of new goods, acquisitions, collaborations, and the rising incidence of chronic respiratory disorders.
Statistics from the Centers for Disease Control and Prevention (CDC) show that 57 males per 100,000 and 40.5 women per 100,000 had COPD in the United States.
The introduction of low-cost generic nasal sprays is anticipated to boost the industry. In the United States, for instance, Sandoz introduced a generic version of Narcan (naloxone HCl) Nasal Spray in December 2021. This spray is used to reverse the effects of an opioid overdose.
Over the course of the forecast period, the Europe inhalation and nasal spray generic drugs market is expected to expand at a CAGR of 8.1%.
In the countries of the region, cigarette consumption is incredibly high. Tobacco consumption is highest in the WHO European Region, with an estimated 209 million individuals smoking (or 29%).
Furthermore, Europe has the highest smoking rate among women, with 74 million of them lighting up every day. The prevalence of smoking varies considerably between geographic regions. Tobacco use is a major contributor to health inequalities and a leading cause of preventable death and disability in the area.
In 2021, Germany market-led Europe's inhalation and nasal spray generic drugs market by country, and it's expected to maintain its dominance through 2028 when it's expected to be worth USD 1,998.9 million. A compound annual growth rate (CAGR) of 7.2% was predicted for the UK market. In addition, the market in France is growing at a CAGR of 8.9%.
Non-communicable diseases (NCDs) are rapidly becoming more of a problem in India than communicable diseases, including tuberculosis (TB), HIV, and water- and vector-borne illnesses. Cancer, chronic respiratory problems, and cardiovascular disease are just a few of the non-communicable diseases that account for nearly 60% of deaths in the country, as reported by the Ministry of Health and Family Welfare.
The years of potential productivity lost due to NCDs are substantial. Deaths from preventable causes, such as heart disease, stroke, and respiratory illness, are also projected to increase over time, leading to greater financial losses.
In 2022, Japan was the largest country inhalation and nasal spray generic drugs market in the Asia Pacific region, and this trend is projected to continue through 2033. A compound annual growth rate (CAGR) of 8.3% is expected in the Japanese market. The market in India, meanwhile, is growing at a CAGR of 9.6 percent throughout 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 increases the visibility of the country's pharmaceutical capabilities.
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New Entrants to Foster Innovation in the Global Market
The startups in the inhalation and nasal spray generic drugs market are adding a new edge to the properties of excavators by curating innovations beyond the imagination.
They are continually upgrading the Inhalation and Nasal Spray Generic Drugs with advanced technology, and manufacturers and sellers are continuously attempting to reduce costs for greater accessibility to the market share. Startup firms are triggering the expansion of the inhalation and nasal spray generic drugs market with their unique attempts.
Top startups operating in the inhalation and nasal spray generic drugs market are:
| Name | Description |
|---|---|
| QNASL | For those suffering from seasonal allergies, QNASL has created a nasal spray to help. A waterless mist (nasal aerosol), QNASL (beclomethasone dipropionate) is used once daily to treat nasal allergy symptoms such as congestion, sneezing, and an itchy, runny nose. |
| Trillium Health Care Products | Drug creator with a wide range of therapeutic targets. Over-the-counter (OTC) and prescription (RX) gastrointestinal treatments, cough, cold, and flu medication, antiseptic ointments, suppositories, nasal sprays, and allergy relief, analgesics, sleep aids, and other life science products are developed by the company. |
Major companies like Cipla Inc., Teva Pharmaceuticals, and Viatris Inc. are investing heavily in research and development, as well as product launches of brand-new products.
There has been a rise in the number of generic inhalers and nasal sprays approved for the treatment of respiratory illnesses such as asthma, COPD, and allergic rhinitis, and this is expected to continue driving demand in the market. To give just one example, in March 2022, the FDA approved the ANDA for inhalation aerosol Breyna, a generic form of Symbicort intended for patients with asthma and COPD.
This product is manufactured by Mylan Pharmaceuticals, a subsidiary of Viatris Inc. With this green light, the business can move on with plans to introduce Breyna in 2022.
Market leaders in Inhalation and Nasal Spray Generic Drugs worldwide include:
The growth outlook for the inhalation and nasal spray generic drugs market is predicted to advance at a CAGR of 8.96% from 2022 to 2032.
The North American region is anticipated to lead the inhalation and nasal spray generic drugs market during the forecast period.
The market valuation of the inhalation and nasal spray generic drugs market stands at USD 20.78 Billion in 2023.
The inhalation and nasal spray generic drugs market are likely to hold a valuation of USD 49.01 Billion by 2033.
1. Executive Summary | Inhalation And Nasal Spray Generic Drugs Market 2. Market Overview 3. Market Background 4. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Class 5.1. Bronchodilators 5.2. Combination Drugs 5.3. Corticosteroids 5.4. Decongestant Sprays 5.5. Antihistamines 5.6. Others 6. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Indication 6.1. Asthma 6.2. Chronic Obstructive Pulmonary Disease (COPD) 6.3. Allergic Rhinitis 6.4. Others 7. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Patient Demographics 7.1. Adult Patient 7.2. Pediatric Patient 7.3. Geriatric Patient 8. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-user 8.1. Homecare 8.2. Hospitals 8.3. Others 9. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Distribution Channel 9.1. Retail Pharmacies 9.2. Hospitals Pharmacies 9.3. Online Pharmacies 10. Global Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. Middle East & Africa (MEA) 11. North America Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Latin America Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Europe Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. South Asia Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. East Asia Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Oceania Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 17. MEA Inhalation And Nasal Spray Generic Drugs Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 18. Key Countries Inhalation And Nasal Spray Generic Drugs Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1.1. Teva Pharmaceuticals Industries Ltd. 20.1.2. Mylan N.V. 20.1.3. Akorn, Operating Company LLC 20.1.4. Cipla Inc. 20.1.5. Sandoz International GmBH (Novartis AG) 20.1.6. Apotex Inc. 20.1.7. Hikma Pharmaceuticals PLC 20.1.8. Sun Pharmaceuticals Industries Ltd. 20.1.9. Beximco Pharmaceuticals Ltd. 20.1.10. Nephron Pharmaceuticals Corporation 21. Assumptions & Acronyms Used 22. Research Methodology
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Inhalation And Nasal Spray Generic Drugs Market
