Inhalable Drugs Market Report 2025

The inhalable drugs market size has grown strongly in recent years. It will grow from $35.06 billion in 2024 to $37.27 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increased geriatric population, patient preference for non-invasive treatments, increased focus on respiratory health, emerging markets growth.

The inhalable drugs market size is expected to see strong growth in the next few years. It will grow to $50 billion in 2029 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growing healthcare spending, growing demand for biologics, increasing focus on personalized medicine, regulatory support for orphan drugs. Major trends in the forecast period include advanced respiratory drugs in veterinary medicine, technological innovation, and improved reimbursement policies.

The rising prevalence of respiratory diseases is expected to drive the growth of the inhalable drug market in the coming years. Respiratory diseases affect the respiratory system, which includes the lungs, bronchi, trachea, larynx, pharynx, and nasal passages. Inhalable drugs are a vital and effective treatment option for various respiratory disorders, as they deliver medication directly to the lungs. For example, in December 2023, the Australian Bureau of Statistics reported that in 2022, 2.5% of the population (638,100 individuals) had chronic obstructive pulmonary disease (COPD), with similar rates among males (2.4%) and females (2.6%). Current daily smokers were significantly more likely to have COPD (8.1%) compared to ex-smokers (4.4%) and non-smokers (1.6%). Therefore, the growing prevalence of respiratory diseases will likely propel the inhalable drug market in the future.

The increasing emphasis on personalized medicine is poised to propel the growth of the inhalable drug market in the foreseeable future. Personalized medicine, also known as precision medicine, represents a novel treatment approach that considers individual variations in patients' genes, environments, and lifestyles. In the context of inhalable pharmaceuticals, personalized medicine involves tailoring therapies based on individual genetic, biomarker, and clinical factors. This approach has the potential to enhance the effectiveness of inhalable medication therapy and overall patient satisfaction in respiratory care. For example, data from the Personalized Medicine Coalition in February 2023 revealed that personalized medications constituted 34% of new pharmaceuticals approved by the US Food and Drug Administration in 2022. Moreover, they had accounted for at least 25% of licenses in each of the previous eight years. Hence, the growing emphasis on personalized medicine serves as a driving factor for the inhalable drug market.

Product innovations have emerged as a significant trend gaining traction in the inhalable drug market, with major companies strategically focusing on advancing inhalable drugs to maintain their market standing. A notable example is DMV-Fonterra Excipients GmbH & Co. KG, a Germany-based pharmaceutical company, which, in July 2022, expanded its dry powder inhalation (DPI) portfolio by introducing Lactohale 400. This new grade, customizable to meet specific pharmaceutical company requirements, was developed collaboratively with formulators to ensure optimal patient outcomes. Lactohale 400, a crushed, dry lactose type, caters to DPI applications requiring high flow and cohesiveness, offering different aerosolization performance than commonly used lactose carriers of the same particle size due to its anhydrous nature.

Major companies are increasingly adopting a strategic partnership approach to develop inhaled medications, particularly for treating lung infections. This collaborative strategy involves leveraging each other's strengths and resources for mutual benefits. A noteworthy partnership was announced in November 2023 between Qnovia, Inc., a US-based pharmaceutical and medtech company, and the University of Virginia (UVA), a US-based public research university. This collaboration aims to advance novel inhaled medication alternatives for the treatment of bacterial infections in the lungs by combining Qnovia's expertise in inhaled medicine delivery with UVA's exclusive array of antimicrobial peptides. The joint effort targets antibiotic-resistant and biodefense germs that can cause life-threatening illnesses, introducing two new assets - QN-05 for pneumonia and QN-06 for lung infections caused by Bacillus anthracis, the organism triggering anthrax - into Qnovia's development pipeline.

In June 2022, Kindeva Drug Delivery L.P., a U.S.-based company specializing in drug-device combination products, acquired iPharma Labs, Inc. This acquisition allows Kindeva Drug Delivery to enhance its expertise in inhalation therapies, streamline the drug development process, and accelerate market access for innovative respiratory solutions. iPharma Labs, Inc. is also a U.S.-based manufacturing company that focuses on the production of inhaled drugs and formulations.

Major companies operating in the inhalable drugs market include Pfizer Inc., Merck & Co. Inc., Novartis AG, Sanofi SA, AstraZeneca plc, GlaxoSmithKline Plc, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Catalent Inc., Sumitomo Pharma Co. Ltd., Intertek Group plc, AptarGroup Inc., Cipla Inc., Glenmark Pharmaceuticals Inc., Piramal Pharma Ltd., Zambon S.p.A., Sunovion Pharmaceuticals Inc., Nelson Laboratories LLC, Vectura Group Limited, Abiogen Pharma, Quotient Sciences, AeroGen Pharma, Alaxia S.A.S., Pharmaxis Ltd., Avalyn Pharma Inc., TFF Pharmaceuticals Inc.

North America was the largest region in the inhalable drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the inhalable drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the inhalable drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Inhalable drugs are medications delivered through the lungs via inhalation, typically using devices such as inhalers or nebulizers. These drugs are primarily used to treat respiratory conditions like asthma, chronic obstructive pulmonary disease (COPD), and other lung disorders. This method facilitates direct delivery of the medication to the respiratory system, providing quick and effective relief.

The primary forms of inhalable drugs include aerosols, dry powder formulations, and sprays. An aerosol is a suspension of particles or droplets in the air, encompassing airborne dust, fog, odors, or smoke. These products are distributed through various channels, including hospital pharmacies, pharmacy stores, and others. They find applications in treating both respiratory and non-respiratory diseases, catering to diverse end-users such as adults, pediatrics, and geriatrics.

The inhalable drug market research report is one of a series of new reports that provides inhalable drug market statistics, including the inhalable drug industry's global market size, regional shares, competitors with an inhalable drug market share, detailed inhalable drug market segments, market trends, and opportunities, and any further data you may need to thrive in the inhalable drug industry. This inhalable drug market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The inhalable drugs market consists of sales of orally inhaled drug products, corticosteroids, and ribavirin. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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