Inhalable Drugs Market size is estimated at USD 35.8 billion in 2024 and is predicted to reach USD 88.4 billion by the end of 2037, expanding at a CAGR of 7.2% during the forecast period, i.e., 2025-2037. In 2025, the industry size of inhalable drugs is assessed at USD 38.4 billion.
The inhalable medicines are anticipated to exhibit high demand during the forecasted period owing to their ease of use and quick effectiveness. The rising prevalence of chronic respiratory problems such as asthma, pulmonary hypertension, chronic obstructive pulmonary disease (COPD), and occupational lung diseases are prime factors fuelling the sales of inhalable drugs.
Research and development focused on the production of advanced medications is set to fuel the sales of modern inhalable drugs in the coming years. For instance, according to the World Health Organization analysis, COPD is the leading cause of death, and around 70% of COPD cases in high-income countries occur due to excessive smoking. Also, asthma is the most common chronic respiratory disease among children. The rising awareness of asthma and treatment is augmenting the demand for inhalers such as bronchodilators and steroids.
Excess intake of psychoactive substances such as alcohol and tobacco coupled with air pollution and chemicals and dust are some of the common factors of chronic respiratory diseases. According to the National Institutes of Health (NIH), alcohol is the major cause of several disorders in underdeveloped and developing countries. For instance, the World Health Organization (WHO) estimates that around 7% of the population across the world above 15 years of age are living with alcohol-related disorders.
Growth Drivers:
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.2% |
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Base Year Market Size (2024) |
USD 35.8 billion |
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Forecast Year Market Size (2037) |
USD 88.4 billion |
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Regional Scope |
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Drug Form (Aerosol, Dry Powder Formulation, Spray)
The dry powder formulation segment in the inhalable drugs market is anticipated to hold a revenue share of 34.9% through 2037 owing to their quick effectiveness and patient comfort. Dry powder formulations are targeting solutions that deliver medications directly to the lungs, allowing for rapid absorption into the bloodstream. This direct delivery is crucial for managing respiratory diseases such as asthma and COPD as it quickly and effectively alleviates symptoms such as wheezing and shortness of breath. Dry drug formulations offer several benefits such as improved patient care owing to their easier administration and better stability compared to liquid formulations. Some of the pure powder drug formulations available in the inhalable drugs market are AstraZeneca's Bricanyl Turbuhaler, Pulmicort Turbuhalers, and Teva Pharmaceutical Industries Ltd’s Adasuve.
Application (Respiratory Diseases, Non-respiratory Diseases)
The respiratory diseases segment is forecasted to account for 76.5% of the global inhalable drugs market share through 2037. The increasing cases of respiratory disorders such as occupational lung diseases, COPD, and asthma worldwide are pushing the demand for advanced inhalable medications. High intake of toxic substances such as tobacco and alcohol, air pollution, and allergic chemicals and drugs primarily contribute to respiratory diseases. For instance, according to the Institutes of Health Metrics and Evaluation, in 2019, the prevalence of chronic respiratory diseases was around 454.6 million cases globally. The trend towards combination inhalers such as steroids with long-acting bronchodilators that offer enhanced therapeutic is contributing to the segmental growth.
Our in-depth analysis of the inhalable drugs market includes the following segments:
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Drug Form
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Application |
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Distribution Channel |
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North America Market Forecast
North America inhalable drugs market is projected to capture 41.4% of the revenue share by 2037 owing to the presence of industry giants and next-gen research and treatment organizations. The high investments in research and development activities, rising cases of chronic respiratory disorders, and the emergence of several start-ups are contributing to the market growth. The U.S. is leading the regional sales of inhalable drugs followed by Canada.
The U.S. inhalable drugs market is foreseen to register rapid growth owing to the existence of advanced healthcare infrastructure and rapid advancements in drug formulations. According to the Centers for Disease Control and Prevention, in 2022, around 4.6% of adults were diagnosed with either emphysema, COPD, or chronic bronchitis. The rising awareness campaigns to educate and equip those with chronic respiratory disorders are also positively influencing the U.S. inhalable drugs market growth. For instance, the COPD foundation launched COPD awareness month in November 2023 and invited people to participate in events to spread awareness related to lung health among the public at large.
Similarly in Canada, the presence of advanced research organizations such as the Lung Health Foundation and Canadian Lung Association and advancements in drug formulation are augmenting the inhalable drugs market growth. For instance, in July 2024, the Government of Canada invested around USD 19.3 million to support 9 research teams in the analysis of ongoing, new, and emerging threats to lung health.
Asia Pacific Market Statistics
The Asia Pacific inhalable drugs market is set to increase at a fast pace during the forecasted period owing to rapid investments in healthcare infrastructure development and rising drug manufacturing units. China and India are witnessing the rapid entrance of international pharma companies, which is set to boost the regional market growth. Forefront at innovations, Japan and South Korea are anticipated to offer lucrative opportunities to inhalable drug manufacturers in the coming years.
In India, the rapid expansion of pharmaceutical companies, including the introduction of generic inhalable drugs is making treatments, more affordable and accessible. For instance, according to the India Brand Equity Foundation, India has low pharma manufacturing costs, 30%-35% lower than in the U.S. and Europe, affordable labor, and about 87% less investments in R&D compared to developed markets.
Severe air quality issues in major cities of China are leading to rising incidences of respiratory disease, which is ultimately boosting the demand for advanced inhalable medications. China’s rapidly expanding aging population and government reforms to improve healthcare accessibility and affordability are fuelling the inhalable drugs market growth.
Key players in the inhalable drugs market are adopting several organic and inorganic strategies such as innovation in drug formulations, strategic partnerships & collaborations, regional expansions, digital technologies integration, and more to earn high profits. Leading companies are investing heavily in research and development activities to enhance drug delivery efficiency and patient compliance. They are also entering emerging markets with high unmet medical needs to cater to a larger audience base. Partnerships with other players and collaborations with research organizations are aiding them in co-developing innovative inhalable formulations.
Some of the key players include:
Author Credits: Radhika Pawar
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