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Inhalable Drugs Market Size
Inhalable Drugs Market size was valued at around USD 33.4 billion in 2023 and is estimated to grow at 6.8% CAGR from 2024 to 2032. Inhalable drugs are medications delivered directly to the lungs through the respiratory tract via inhalation. This method allows for rapid absorption and action, providing effective treatment for respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and certain infections. Inhalable drugs are typically administered using devices such as inhalers, nebulizers, or dry powder inhalers, ensuring the medication reaches the targeted area in the lungs efficiently.
The rising incidence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), tuberculosis (TB), bronchitis is a significant driver for the market. For instance, according to World Health Organization (WHO), an estimated 10.6 million people worldwide suffered with tuberculosis (TB) in 2022. This includes 5.8 million men, 3.5 million women, and 1.3 million children. Therefore, this underscores the critical need for innovative and effective treatment options and preventive measures to address the growing burden of respiratory diseases.
Furthermore, advancements in inhalation technology, growing awareness and diagnosis, are the promoting factors advancing the growth of the market.
Who are the leading inhalable drugs industry players?
AstraZeneca Plc, C.H. Boehringer Sohn AG & Co. KG., CHIESI Farmaceutici S.p.A., Cipla Limited, GSK plc, MannKind Corporation, Merck & Co., Inc., Mundipharma International., Novartis AG, and Pfizer Inc., among others.
How big is the U.S. inhalable drugs industry?
U.S. inhalable drugs market is projected to reach USD 21.8 billion by 2032 due to increasing pharmaceutical and biotechnological innovation and rising investment in R&D.
Why is the demand for inhalable drugs rising in respiratory diseases?
The respiratory diseases segment in the market recorded USD 24.2 billion in 2023 due to targeted lung delivery, rapid onset, and improving efficacy.
What is the size of the inhalable drugs market?
Global inhalable drugs industry was valued at USD 33.4 billion in 2023 and is anticipated to register 6.8% CAGR between 2024 and 2032 due to the increasing prevalence of respiratory diseases and advancements in inhalation technology.