As per Future Market Insights (FMI)’ latest industry analysis, the Inhalation Formulation Market is expected to grow from US$ 41,831.2 million in 2024 to US$ 60,157.2 million by 2034. By 2034, the market is projected to surge at 3.7% CAGR.
The inhalation formulation market is expanding due to the rise in respiratory diseases like asthma, COPD, and cystic fibrosis worldwide. Advancements in inhalation technology and drug delivery systems are further enhancing the market’s expansion.
The market provides efficient and patient-friendly solutions for managing respiratory disorders, enhancing patient outcomes and quality of life by providing targeted relief for various respiratory ailments. The market is further ripe for growth due to rising healthcare awareness, an aging population, and ongoing research & development activities worldwide.
Pharmaceutical companies are collaborating on novel inhalation therapies, while advancements in personalized medicine and digital health technologies offer tailored treatments. Emerging markets offer untapped potential for market players to expand their presence due to rising prevalence of respiratory disease and awareness of inhalation therapy.
Key Takeaways from the Inhalation Formulation Market Study
- The market is expected to reach US$ 60,157.2 million by 2034.
- The United States is expected to exhibit a CAGR of 1.7% throughout the forecast period.
- By disease indication, the asthma segment is set to hold a 49.0% market value share in 2024.
- Germany is expected to grow with a CAGR of 1.6% from 2024 to 2034.
- North America held a substantial value share of 37.3% in 2023.
“The growing number of respiratory diseases necessitates the development of effective, targeted therapies, with inhalation formulations playing a crucial role in providing innovative solutions for managing respiratory conditions and enhancing patient outcomes.” says a lead analyst at Future Market Insights (FMI).
Inhalation Formulation Market Competitive Landscape
Collaborations and acquisitions are the key growth strategies employed by leading companies in the market to enhance their capabilities, expand their service offerings, and stay competitive in the landscape.
For instance,
- In October 2020, Teva Canada, a Teva Pharmaceutical Industries Ltd. branch, announced the launch of Aermony RespiClick in Canada. This inhaler is prescribed for the ongoing management of steroid-responsive bronchial asthma as a preventive therapy in patients aged 12 and above.
Get More Valuable Insights
Future Market Insights (FMI) brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global inhalation formulation market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the inhalation formulation market segment based on drug class (Short-acting Beta2 Agonist (SABAs), Short Acting Muscarinic Antagonist (SAMA), Long-Acting Beta2 Agonist Inhalers (LABAs), Long Acting Muscarinic Antagonist (LAMA), corticosteroids, combination LABA/LAMA and combination ICS/LABA), disease indication (asthma, chronic obstructive pulmonary disease (COPD) and pulmonary arterial hypertension, acute respiratory distress syndrome, pulmonary fibrosis, and hypereosinophilic syndrome), sales channel (hospitals, specialty clinics, retail pharmacy chains and online pharmacies/mail order pharmacies ), and regions.
Inhalation Formulation Market Key Companies Profiled
- Recipharm AB
- GSK plc.
- AstraZeneca
- Novartis AG
- Teva Respiratory, LLC
- Boehringer Ingelheim International GmbH
- Cipla LTD
- Merck & Co., Inc.
- Lupin Ltd.
- Perrigo Company plc.
- Viatris Inc. (Mylan N.V)
- Organon Group of Companies
- Beximco Pharmaceuticals Ltd.
Inhalation Formulation Market Segmentation by Category
By Drug Class:
- Short-acting Beta2 Agonist (SABAs)
- Short Acting Muscarinic Antagonist (SAMA)
- Long-acting Beta2 Agonist Inhalers (LABAs)
- Long Acting Muscarinic Antagonist (LAMA)
- Corticosteroids
- Combination LABA/LAMA
- Combination ICS/LABA
By Disease Indication:
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Pulmonary Arterial Hypertension
- Acute Respiratory Distress Syndrome
- Pulmonary Fibrosis
- Hypereosinophilic Syndrome
By Sales Channel:
- Hospitals
- Specialty Clinics
- Retail Pharmacy Chains
- Online Pharmacies/Mail Order Pharmacies
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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