Inhalation and Nasal Spray Generic Drugs Market Growth Opportunities and Competitive Insights Report 2023-2030

USD Analytics | Inhalation and Nasal Spray Generic Drugs Market
Europe is another prominent region in the inhalation and nasal spray generic drugs market. Countries like Germany, the United Kingdom, France, and Switzerland have a strong pharmaceutical industry and are known for their research and development activities.

Inhalation and Nasal Spray Generic Drugs Market

According to the USD Analytics published latest research report, the global Inhalation and Nasal Spray Generic Drugs Market is expected to grow at a tremendous CAGR of 6.87% during the forecast period 2023-2030.

The inhalation and nasal spray generic drugs market consists of sales of fluticasone, budesonide, beclomethasone, albuterol, epinephrine, phenylephrine hydrochloride, oxymetazoline and hydrochloride. Values in this market are ‘factory gate,’ the prices paid by the manufacturers or producers of the items to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end consumers. In this market, the value of products includes complementary services offered by the makers of the items.

The primary delivery route for medications to treat asthma and chronic obstructive pulmonary disease (COPD) is inhalation and nasal spray generic pharmaceuticals. Nasal sprays are liquid drugs that may be sprayed into the nose. They are used to relieve nasal congestion (stuffiness). An inhaler is a device that delivers drugs in the form of a spray that is inhaled via the mouth or nose.

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Market Drivers:

Asthma is a significant noncommunicable disease (NCD). It is the most frequent chronic illness among children and affects both children and adults. Asthma affects more adult women than adult males in the United States. Asthma affects nearly 25 million Americans, according to the CDC 2020 estimate. Asthma affects around 20 million adults in the United States. Furthermore, the AAFA estimates that almost 25 million individuals will have asthma by 2021. In addition, around 5 million American children will have asthma by 2021.

Factors such as increased cooperation and strategic reviews of generic pharmaceuticals by major companies, government organizations, and non-governmental organizations (NGOs) in spreading asthma awareness are projected to fuel market expansion. For example, the USFDA authorized the first generic Symbicort (budesonide and formoterol fumarate dihydrate) inhalation aerosol in March 2022 for treating two common respiratory health disorders, including asthma, in people six years of age and older.

As a result of the causes above, the asthma category is expected to develop in the market studied throughout the projection period.

Market Restraints:

As more low-cost generic inhalation and nasal spray drugs become accessible globally, many regulatory organizations have adopted rigorous quality-control standards. Brazil, Mexico, and Russia are just a few rising nations whose regulatory authorities have recently amended generic pharmaceutical sales laws.

The global market for generic inhalation and nasal spray medications has been severely delayed due to the new regulatory regulations.

Furthermore, some pharmaceutical companies in Russia are encountering difficulties due to the country’s new regulatory law, which demands clinical studies for generic pharmaceuticals.

Recent Developments:

Lupin got FDA clearance in August 2022 for Formoterol Fumarate Inhalation Solution, intended to treat chronic obstructive pulmonary disease symptoms. The generic version of Mylan Specialty’s Perforomist Inhalation Solution was approved by the US Food and Drug Administration (USFDA).
Breyna (Budesonide and Formoterol Fumarate Dihydrate Inhalation Aerosol), developed by Viatris Inc. in collaboration with Kindeva, received its first FDA approval in March 2022 for the maintenance treatment of asthma and chronic obstructive pulmonary disease (COPD).

Segmentation Analysis:

The global inhalation and nasal spray generic drugs market is segmented by drug class, application, and region

By Drug Class:

Decongestant Sprays
Other Drug Classes

By Application:

Allergic Rhinitis
Other Applications

By Region:

North America
South America
Middle East and Africa

Geographical Analysis:

The global inhalation and nasal spray generic drugs market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.

North America Inhalation and Nasal Spray Generic Drugs Market

The North American inhalation and nasal spray generic drugs market is anticipated to have a significant share of the global market owing to the increasing burden of asthma and COPD coupled with well-established healthcare infrastructure and rising awareness. Chronic obstructive pulmonary disease (COPD) impacted 453,700 and 488,100 persons in 2019 and 2020, accounting for 7.2% and 7.5% of the total population, respectively, according to a Government of Canada study. As a result, the growing prevalence of chronic respiratory disorders in the North American area is pushing the use of nasal and inhalational generic medications, enhancing market growth.

Asia Pacific Inhalation and Nasal Spray Generic Drugs Market

Asia Pacific is expected to register a lucrative CAGR of 11.23% during the forecast period. The area’s growth may be credited to smart agreements to produce generic items in the region. For example, in August 2021, CDMO Bora Pharmaceuticals Laboratories Inc. announced a collaboration with Kyowa Pharmaceuticals Industry Co. Ltd. to produce generic goods in Japan, including nasal sprays. This deal enhances and elevates Taiwan’s pharmaceutical capabilities.

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Competitive Landscape:

The major companies included in the global inhalation and nasal spray generic drugs market are Akorn Incorporated, Apotex, Beximco Pharma, Cipla Inc., Hikma (Roxane), Mylan N.V., Novartis AG (Sandoz), Sun Pharma (Ranbaxy), Teva Pharmaceuticals.

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