Inhalable Drugs Market Size to Hit US$ 41.5 Billion by 2026

LOS ANGELES, Jan. 15, 2020 /PRNewswire/ -- The global inhalable drugs market is expected to grow at a CAGR of around 6.4% from 2019 to 2026 and reach the market value of over US$ 41.5 Bn by 2026.

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In 2018, North America held the large number of market share for inhalable drugs market and the region is projected to maintain its dominance over the forecast period. The region is primarily gaining growth owing to the easy availability of advanced products. According to the Centers for Disease Control and Prevention (CDC), more than 25 million Americans have asthma, which includes 7.7 percent adult and 8.4 percent children. The asthma disease is increasing, since the 1980's in all sex and age. In addition, in 2017, an average of 10 Americans have died from asthma which is approximately 3,564 people.

Furthermore, Asia Pacific is expected to be the fastest-growing market over the forecast period. The increasing disposable income along with the rising awareness among individuals about the advance technologies for the treatment of diseases is supporting the regional market growth. In addition, the increasing governmental support for the development of healthcare infrastructure in the region is further propelling the market value. 

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Based on type, the dry powder formulation segment held the major share in the global inhalable drugs market in 2018. The emerging expertise in dry powder formulation of potent drugs is enabling cheap and simple development which is favoring the market growth. For instance, Glenmark Pharmaceuticals signed an agreement in 2018 to commercialize Tiotropium Bromide dry powder inhaler in the Europe region to treat patients with chronic obstructive pulmonary disease (COPD).

Respiratory diseases accounted for the major share in the inhalable drugs market in the year 2018. The segment is primarily gaining growth owing to the rising prevalence of respiratory diseases. According to the WHO, the top 10 causes of death across the globe include lung cancer, COPD, tuberculosis, and lower respiratory infections. The favorable government initiatives, good reimbursement policies, and the increasing cases of tobacco smoking are favoring the segment growth. The increasing awareness program is further supporting the segment growth. For instance, In 2016, Mylan N.V. has organized chronic obstructive pulmonary disease (COPD) Awareness Month to spread awareness about various treatments including inhaled and other bronchodilators along with their different dosage forms.

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Some of the leading competitors are AstraZeneca, Sanofi, Vectura, Mylan, GlaxoSmithKline, Mundipharma, Boehringer Ingelheim International GmbH, Cipla Inc. and Others. Inhalable drug companies have announced mergers and acquisitions to expand their position in the inhalable drug industry. Major players are also moving into new regions or advanced technologies. For instance, MannKind Corporation developed and commercialized FDA approved Afrezza, an inhalation powder for diabetes patients in 2019.

Some of the key observations regarding inhalable drugs industry include:

• GlaxoSmithKline Plc or gsk, a British drugmaker has announced that its three in one drug named Trelegy has met the main goal of asthma, which is expected to boost the lung medicines division of the company that was prior hit by the generic competition.
• In 2019, Breath Therapeutics a private company has announced the initiation of global Phase 3 trials for the treatment of Bronchiolitis Obliterans Syndrome (BOS).
• In 2019, Cipla Limited has launched first extra-fine particle inhaler developed in India named Niveoli. It is India's first extrafine ICS-LABA combination hydrofluoroalkane inhaler.
• In 2019, The European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) has approved the inhaled form of levodopa for the intermittent treatment of episodic motor fluctuations in Parkinson's disease (PD).
• EffRx Pharmaceuticals and Pharmaxis have signed an agreement in 2019 to commercialize Bronchitol (mannitol) in Switzerland for the treatment of cystic fibrosis (CF). In addition, according to the Swiss Society for Cystic Fibrosis (CFCH), around 1,000 people were affected by CF in Switzerland.
• TFF Pharmaceuticals Inc. has announced the initiation of Phase 1 Clinical Trial of inhaled Voriconazole in the year 2019 for the treatment of Invasive Pulmonary Aspergillosis.
• Alaxia joined iABC, a European consortium in 2019 to speed up the development of ALX-009. ALX-009 is an investigational inhaled antibiotic for multi-drug resistant lung infections in cystic fibrosis patients.

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