Inhalable Drugs Market Regional Analysis:
North America Market Forecast
North America industry is likely to hold largest revenue share of 41.4% by 2035,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.
