The global market for Inhalation and Nasal Spray Generic Drugs is predicted to experience a moderate growth rate of 8.96% during the forecast period. As of 2023, the market is valued at US$ 20.78 billion, and it is projected to reach US$ 49.01 billion by 2033.
The sales of inhalation and nasal spray generic drugs are rising due to the increasing prevalence of chronic respiratory diseases worldwide. According to the Global Asthma Report, over 330 million people suffer from asthma globally, and this number is predicted to exceed 400 million by 2025, primarily due to air pollution, smoking, and tobacco use.
The market is expected to be fueled by the growing elderly population, who are more prone to persistent respiratory illnesses. The World Health Organization predicts that by 2030, one in every six people worldwide will be 60 years or older, with the global number reaching 2.1 billion by 2050. In the United States, the Asthma and Allergy Foundation of America predicts that by 2020, 7.8% of the population over 65 years old will have asthma.
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However, stringent regulations in some countries, such as Mexico and Russia, may hinder the demand for inhalation and nasal spray generic treatments. For instance, COFEPRIS, Mexico’s regulatory authority, has issued new rules for the registration of generic drugs, which may exclude patents for new therapeutic uses. Moreover, COFEPRIS has a unique approval process for generic drugs in Mexico.
Key Takeaways
- The Asia-Pacific region is estimated to grow at a profitable CAGR of 11.23% throughout the forecast period. The formation of strategic alliances in the region to facilitate the development of generic products is largely responsible for the region’s expansion.
- With a revenue share greater than 35.0% in 2021, North America maintained its market leadership. In addition to the increasing frequency of chronic respiratory issues, the launch of new goods, the completion of acquisitions, and the formation of partnerships are major factors contributing to the expansion of this region.
- Due to rising healthcare costs and increased demand for generic pharmaceuticals, retail pharmacies had the biggest revenue share in 2021, accounting for more than 55.0% of total revenue.
- Homecare will account for more than 50.0% of total money earned in 2021 due to favourable reimbursement legislation and an ageing population.
- In 2021, the adult patient segment was responsible for more than 40.0% of the revenue generated. The primary driver of the segment’s expansion is an increase in the number of adult patients suffering from asthma and COPD.
- Because bronchodilators are widely used to treat respiratory illnesses such as asthma and COPD all over the world, the bronchodilators market category accounted for the greatest revenue share in 2021, accounting for more than 25.0%.
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Competitive Landscape
Growth initiatives, such as product innovation, regulatory approval of new products, and mergers and acquisitions, are a primary emphasis of the inhalation and nasal spray generic drugs market leaders. For instance, Cipla Inc. submitted an ANDA for a generic version of Advair Diskus, fluticasone propionate, and salmeterol inhalation powder in May 2020. Phase three trials of the product were successfully completed by the company in April 2020. The following companies are leaders in the global market for generic inhalers and nasal sprays:
- Mylan N.V.
- Akorn, Operating Company LLC
- Cipla Inc.
- Sandoz International GmBH (Novartis AG)
- Apotex Inc.
- Hikma Pharmaceuticals PLC
- Sun Pharmaceuticals Industries Ltd.
- Beximco Pharmaceuticals Ltd
More insights available
North America is the largest inhalation and nasal spray generic market, driven by the high prevalence of respiratory diseases, a large aging population, and a well-established healthcare system. The United States is the dominant player in the region, with a significant share of the market.
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Key Segments in the Inhalation and Nasal Spray Generic Drugs Market
Drug Class:
- Bronchodilators
- Combination Drugs
- Corticosteroids
- Decongestant Sprays
- Antihistamines
- Others
Indication:
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Allergic Rhinitis
- Others
Patient Demographics:
- Geriatric Patient
- Adult Patient
- Paediatric Patient
End-user:
- Hospitals
- Homecare
- Others
Distribution Channel:
- Hospitals Pharmacy
- Retail Pharmacy
- Online Pharmacies
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