Inhalation and Nasal Spray Generic Drugs Market Size, Share, Growth, Trends, Consumption, Production, Revenue and Forecast 2020 - 2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

The global Inhalation & Nasal Sprays Generic Drugs market size is expected to hit around US$ 42.30 billion by 2027 and is anticipated to expand at a CAGR of 4.95% from 2020 to 2027.

The increasing prevalence of asthma and COPD disorders, and burgeoning demand for cost-effective generic drugs are projected to drive the global inhalation and nasal spray generic drugs market during the forecast period.

Overview

  • Inhalation and nasal spray drugs are the kind of medications employed for relieving runny, stuffy, itchy nose, sneezing, and watery eyes caused by hay infections, among others.
  • The sale of nasal sprays and generic inhalers in expected to increase in the forecast period owing to the rise in the number of patients suffering from chronic obstructive pulmonary disease (COPD), and asthma. In addition, the high healthcare costs, mainly in the developed countries are driving the people towards generic drugs, contributing to the growth of the inhalation and nasal spray generic drugs market.
  •  North America dominated the global inhalation and nasal sprays generic drugs market in 2018 and the trend is anticipated to continue during the forecast period. This was due to increase in the incidence of COPD and asthma and rising number of awareness programs initiated by governments regarding the availability of generic inhalation drugs
  • Asia Pacific is likely to be a highly lucrative market for inhalation and nasal spray generic drugs and it is expected to expand at a high CAGR during the forecast period. Key factors driving the market in the region are presence of large population base, increasing government support, and rising incidence of respiratory disorders.
  • Moreover, growing preferences of the population for generic drugs in order to curtail health care costs is likely to boost the growth of the inhalation and nasal spray generic drugs market in Asia Pacific

Low cost involved with generic prescription drugs to Drive Market

  • All generic drugs approved by the U.S. Food and Drug Administration have met the same rigid standards as the branded innovator drug and are available at extremely affordable prices. Patent expiration of a branded drug leads to competition among generic manufacturers to produce generic versions at lower prices.
  • The rationale behind such low prices of inhalation and nasal spray generic drugs is that no R&D investments, advertising, marketing, and promotion are involved in the manufacture of generic drugs. Additionally, a number of generic companies have approvals to market a single product. This creates competition in the market place, resulting in lower price of generics.
  • Hence, generic drug utilization rate is only expected to increase in the next years as few inhalation drugs will go off patent through 2020. This is likely to drive the inhalation and nasal spray generic drugs market.

Combination Drugs Segment to Dominate Market

  • Based on drug class, the global inhalation and nasal sprays generic drugs market has been divided into corticosteroids, bronchodilators, antihistamines, combination drugs, and decongestant sprays. One of the most popular options for management of COPD and asthma available currently is the combination of inhaled corticosteroids and bronchodilators. Formulation containing azelastine and benzalkonium chloride is used as an antihistamine-corticosteroid combination available as a metered spray formulation for nasal or intranasal administration.
  • The salmeterol and fluticasone segment is anticipated to expand at the fastest CAGR as the combination medication is reported to have the least side effects associated with management of asthma.

Asthma Indication to be Highly Lucrative Segment

  • In terms of medical indication, the global inhalation and nasal sprays generic drugs market has been classified into asthma, COPD, allergic rhinitis, and others.
  • Asthma segment dominated the global inhalation and nasal sprays generic drugs market in 2018 and is likely to remain dominant in the forecast period. The growing prevalence of the people suffering from asthma contributes to the rise in the demand for the drugs employed for its treatment. According to Centers for Disease Control and Prevention (CDC), over 1 in 13 people suffer from asthma. Further, over 25 million people suffer from asthma in the U.S.

North America to Dominate Global Market

  • In terms of region, the global inhalation and nasal sprays generic drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Inhalation and Nasal Sprays Generic Drugs market in 2018, followed by Europe.
  • North America accounted for major share of the global inhalation and nasal sprays generic drugs market in 2018, owing to the rising awareness about availability of generic inhalation drugs for the treatment of various chronic respiratory diseases, increasing prevalence of COPD and asthma, and government initiatives for improving the respiratory care in the region.
  • The inhalation and nasal sprays generic drugs market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Emerging markets in Asia Pacific hold immense growth potential due to factors such as rise in the geriatric population, increase in the prevalence of COPD and asthma, growing health care expenditure, and standard regulatory requirements.  

Competitive Landscape

  • The global Inhalation and Nasal Sprays Generic Drugs market is fragmented in terms of number of players. Key players in the global market include Allergan plc,  Beximco Pharmaceuticals Ltd, Cipla Limited, Mylan N.V., Nephron Pharmaceuticals Corporation, Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Sandoz International GmbH (a Novartis Division), Perrigo Company plc, Catalent Pharma Solutions, and Teva Pharmaceutical Industries Ltd., among others.

The market has been segmented as follows:

By Drug Class

    • Corticosteroids
      • Fluticasone
      • Budesonide
      • Beclomethasone
      • Flunisolide
      • Others
    • Bronchodilators
      • Albuterol
      • Epinephrine
      • Others
    • Antihistamines
    • Combinations
      • Salmeterol/Fluticasone
      • Formoterol/Budesonide
      • Azelastine/Benzalkonium Chloride
      • Others
    • Decongestant Sprays
      • Phenylephrine Hydrochloride
      • Oxymetazoline Hydrochloride

By Indication

    • Asthma
    • Chronic Obstructive Pulmonary Disease (COPD)
    • Allergic Rhinitis
    • Others

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

A new study on the global inhalation and nasal spray generic drugs market has been published by Vision Research Reports. It presents a wealth of information on key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global inhalation and nasal spray generic drugs market. The study offers valuable information about the global inhalation and nasal spray generic drugs market to illustrate how the market would grow during the forecast period 2020-2027. The report provides the value and volume of the global inhalation and nasal spray generic drugs market for the period 2020–2027, considering 2020 as the base year and 2027 as the forecast year. The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study.

Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in the study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global inhalation and nasal spray generic drugs market during the forecast period.

An extensive analysis on business strategies of leading market players is also featured in study on the global inhalation and nasal spray generic drugs market. This can help readers understand principal factors to foresee growth in the global inhalation and nasal spray generic drugs market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global market, which is expected to guide market players in making apt decisions in the future.

The report also delves into the competition landscape of the global inhalation and nasal spray generic drugs market. Key players operating in the global market have been identified, and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global market report.

Key Questions Answered in Inhalation and nasal spray generic drugs Market Study

- What are the key factors influencing the inhalation and nasal spray generic drugs market in each region?

- What will be the CAGR of the global inhalation and nasal spray generic drugs market between 2016 and 2027?

- What is the future scope and changing trends in technologies in the global inhalation and nasal spray generic drugs market?

- Which factors will impede the growth of the global inhalation and nasal spray generic drugs market during the forecast period?

- Which are the leading companies in the global inhalation and nasal spray generic drugs market?

- Which region is set to expand at the fastest CAGR during the forecast period?

- What is the volume (Units) of different inhalation and nasal spray generic drugs across all regions during the forecast period?

- Which segment will have the highest revenue globally in 2027 and which segment will expand at the fastest CAGR during the forecast period?

Research Methodology

A unique research methodology has been utilized by Vision Research Reports to conduct a comprehensive research on the growth of the global inhalation and nasal spray generic drugs market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global inhalation and nasal spray generic drugs market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from inhalation and nasal spray generic drugs industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making Vision Research Reports estimates on the future prospects of the global market more reliable and accurate.


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