June 2023
15 Aug 2024
The global inhalation and nasal spray generic drugs market surpassed USD 21.16 billion in 2023 and is projected to be worth around USD 49.96 billion by 2033, poised to grow at a CAGR of 8.97% during the forecast period. The increasing cases of efficient and easy-to-adapt medicine for respiratory disease are driving the growth of the market.
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The increasing cases of breathing disease or chronic respiratory disease in the population due to the rising air pollution and the acceptance of smoking and unhealthy lifestyles is causing several health issues such as asthma, COPD, and others, are driving the demand for effective treatment procedures and medication are driving the growth of the inhalation and nasal spray generic drugs market. The inhalation and nasal spray contain the high active ingredients with another exponent; these active ingredients are stored in the non-pressurized spray dispenser in the aqueous form.
The spray dispenses the drug with the metered dosage. This type of medication does not need a specialized physician to implement it for the patients. These drugs are easy to handle, and its dispenser makes it easy to use. The rising awareness about healthcare conditions, the surging investment in personal well-being, and the rising inclination towards home care and self-care for the treatment of diseases like asthma and other breathing conditions are driving the growth of the inhalation and nasal spray generic drugs market.
Rising cases of chronic respiratory disease are accelerating the growth of the inhalation and nasal spray generic drugs market
The increasing cases of chronic respiratory illness in the population are due to several factors like genetics, allergies, and environmental pollution that cause several issues in the human body. The increasing number of COPD cases in the population due to unhealthy lifestyles, the rising acceptance of smoking by the population, and genetics are boosting the growth of the market. COPD has some common symptoms, such as cough, trouble breathing, wheezing, and tightness in the chest.
According to the United Kingdom’s National Health Service (NHS), approximately 9 out of 10 cases are caused by smoking. There are several types of medication used to treat COPD: Short-acting bronchodilators, Corticosteroids, Methylxanthines, Long-acting bronchodilators, Combination drugs, Roflumilast, Mucoactive drugs, Vaccines, Antibiotics, Cancer medications, Biologic drugs. Thus, the rising cases of COPD and diseases like asthma are driving the growth of the inhalation and nasal spray generic drugs market.
However, many people in underdeveloped countries are not aware of such drugs and are not able to use them, which restricts the market’s growth. The lack of developed healthcare infrastructure, education, and medical facilities are the major causes of this.
Recent Development for Apotex Inc.
North America dominated the generic drug market for inhalation and nasal spray in 2023. The growth of the market is expected to increase due to the presence of a well-developed healthcare infrastructure and pharmaceutical industry, which is driving the growth of the market. The continuously increasing cases of chronic respiratory diseases in regional countries like the United States and Canada are driving the demand for inhalation and nasal spray generic drugs for the treatment and medication of patients.
Additionally, the rising government support for the development and adoption of generic medication by a population drives the growth of the market. The increasing investment in research and development activities in the launch of drugs and clinical trials boosts the growth of the inhalation and nasal spray generic drugs market in the region.
The rising investment in clinical trials for drug development
The increasing investment by developed and developing countries in the formulation and launch of respiratory disease drugs or medications is driving the growth of the market. The rising economic development in the healthcare and pharmaceutical industry and the increasing investment by public and private firms in clinical trials are contributing to the growth of the inhalation and nasal spray generic drugs market.
Segments Insights
By Drug Class Insights
By Patient Demographics Insights
By Indication Insights
By End-user Insights
By Distribution Channel Insights
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