Inhalable Drugs Market Trends

Growth Drivers:

• Introduction of smart inhalers: The integration of digital technologies such as the Internet of Things and connectivity platforms such as Bluetooth and mobile apps is leading to the development of smart inhalers. These inhaler devices provide a connected solution beyond traditional inhalers owing to their real-time monitoring, alerts, reminders, and feedback mechanisms. Smart inhalers are equipped with sensors that record each use, tracking when and how the inhaler is utilized. Also, smart inhalers are connected to mobile applications that provide insights into usage patterns.
  
  Mobile applications help patients view their adherence levels, receive dosage reminders, and access educational resources about their condition. For instance, in 2018 the world’s first and new digital inhaler ProAir Digihaler was developed by Teva Pharmaceutical Industries Ltd. This smart inhaler with built-in sensors was approved by the U.S. Food and Drug Administration (FDA), which seamlessly connects with mobile applications and shares information related to inhaler use with patients and healthcare providers.
• Development of novel drugs: The ongoing advancements in drug formulation for inhalation are leading to the development of advanced delivery systems and formulations such as dry powder inhalers and nebulizers. These advanced solutions are enhancing the therapeutic effects of inhaled medications leading to better patient comfort. Dry powder inhalers deliver medication in powder form and are portable, making them convenient for daily use by eliminating the need for propellants. According to a ScienceDirect report, GlaxoSmithKline's Advair and AstraZeneca's Symbicort are the most demanded dry powder drugs with annual sales of over USD 1 billion. Also, children with respiratory issues are widely treated using nebulizers as these solutions allow for longer inhalation times and easier delivery of mechanisms.

Challenges

• Strict regulatory challenges: The approval process for inhalable drugs is quite complex due to the involvement of several steps and strict approval procedures, which significantly delay market entry and increase product development costs. Several regions have various regulatory requirements such as the Food and Drugs Administration in the U.S. and the European Medicines Agency in Europe that governs the approval of drugs. The presence of several regulatory bodies makes it complex for manufacturers to launch their products, hampering their market shares.
• High investment costs: The production of advanced inhalable drugs requires significant investments in research and development activities. R&D processes often involve several trials and errors to achieve the right formulation. Extensive laboratory studies required to ensure safety before human trials are both time-consuming and expensive. Small-scale pharma companies often fail to invest in the production of advanced solutions or delivery systems owing to limited budgets.