Global inhalable drugs market is expected to witness a lucrative market growth over the forecast period owing to rising prevalence of chronic diseases such as diabetes mellitus, tuberculosis, cancer and increasing geriatric population base which requires more convenient route of administration. Limitations associated with current therapies includes late onset of action, non-targeted drug delivery and low absorption of drugs through traditional route of administration thereby inducing the need of developing inhalable drugs. Therapy advancements in inhalable drugs include incorporation of micro & nano particles, usage of surfactant carriers and advent of advanced drug delivery systems such as ultrasonic nebulizers, liquid jet nebulizers & dry powder inhalers are anticipated to upsurge the market growth further. These advancements facilitate benefits which include minimization of toxicities, improved drug interactions, convenience over invasive methods, increased systemic availability of drugs and targeted therapy, and are hence anticipated to drive the demand for the market. Moreover, advantages associated with inhalable drugs include localized therapy of respiratory disorders, higher patient safety, minimum dosage requirement and avoidance of gastric irritation are expected to provide growth platform to the inhalable drugs market over the forecast period.
The global inhalable drugs market is segregated on the basis of application into respiratory diseases and non-respiratory diseases. As of 2014, respiratory diseases including asthma, pulmonary vascular disease and tuberculosis held the substantial share of inhalable drugs market. This is resultant of rising prevalence of these diseases and increasing geriatric patient base which are unable to use other routes of drug administration. Drugs used in this segment are glucocorticosteroids and bronchodilators. Therapy advancements such as incorporation of lipid molecule carriers, microspheres, combination therapy and incorporation of mucoadhesive system also played an important role in the growth of this segment. These advancements result in benefits such as negligible side effects, enabling dose variability and avoidance of degradation of drug by liver. Non-respiratory diseases segment which includes diabetes mellitus is expected to be the fastest growing over the next seven years owing to potential advancements in the therapy. These advancements include employing absorption enhancers such as dimethyl-b-cyclodextrin. These advancements result in benefits such as avoidance of intravenous administration of insulin, increased convenience, reduced potential risk of needle injuries, enhanced nasal absorption due to increased membrane penetration are also expected to propel demand for this segment over the next seven years. Furthermore, they replace short-acting insulin as an adjuvant to long-acting insulin thereby driving the demand of the segment over the forecast period.
Geographically, the inhalable drugs market is segmented into North America, Europe, Asia Pacific, Latin America and MEA. As of 2014, North America held the largest share as a consequence of propelling growth factors which includes growing incidences of chronic disorders such as bronchitis, rising geriatric population base and sophisticated healthcare infrastructure. Additionally, high disposable income and drastic lifestyle associated changes such as smoking, obesity, drinking and high work stress levels leads to growth of the inhalable drugs market in this region. Furthermore, government welfare initiatives and rising health awareness in this region are also key contributors for the growth of inhalable drugs market. Asia Pacific region is anticipated to be the fastest growing market over the forecast period owing to contributing factors such as improving healthcare infrastructure, rising patient awareness and increasing disposable income. Moreover, new market entrants lead to strong competition which is expected to play an important role in providing growth platform to the inhalable drugs market in this region over the next seven years.
Key players of inhalable drugs market include NanoDerma, Pfizer, Aradigm Corporation, Alkerme, Dura Pharmaceuticals, AeroGen and Inhale Therapeutic Systems. These companies focus on unmet market needs, geographic expansion objectives, developing of innovative products and mergers & acquisitions in order to capitalize their market share. These companies also provide services to various entities in order to improve quality of the drug delivery systems and better patient compliance. Moreover, need for efficient therapies and competition among new market players are expected to provide growth potential. Furthermore, these players also focus on personnel training and R&D investment in order to capture the market over the forecast period.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.