Global Inhalation And Nasal Spray Generic Drugs Market Opportunities And Strategies 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s inhalation and nasal spray generic drugs market report forecasts the inhalation and nasal spray generic drugs market size to grow to $36.27 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
Learn More On The Inhalation And Nasal Spray Generic Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/inhalation-and-nasal-spray-generic-drugs-global-market-report
Inhalation And Nasal Spray Generic Drugs Market Size Forecast
The global inhalation and nasal spray generic drugs market is expected to grow from $25.87 billion in 2022 to $27.65 billion in 2023 at a compound annual growth rate (CAGR) of 6.87%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The inhalation and nasal spray generic drugs market size is expected to grow to $36.27 billion in 2027 at a CAGR of 7.02%.
North America held the largest inhalation and nasal spray generic drugs market share and was the fastest-growing region in 2022.
Key Inhalation And Nasal Spray Generic Drugs Market Driver – Rise In The Incidence Of Chronic Respiratory Diseases Globally
For instance, in September 2020, according to a study report issued by the American Action Forum, a nonprofit, conservative issue advocacy group, chronic illness is a significant healthcare issue since it costs the US $3.7 trillion annually, or about 19.6% of the GDP, and is rising. Therefore, the rising incidence of chronic respiratory diseases globally will help the market grow.
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Key Inhalation And Nasal Spray Generic Drugs Market Trend – Strategic Partnerships And Collaborations
Major players operating in the inhalation and nasal spray generic drugs market are focused on partnerships and collaborations to reinforce their position. For instance, in February 2022, Glenmark Pharmaceuticals Limited, an Indian-based integrated research-based, global pharmaceutical company, partnered with SaNOtize, a Canada-based biotech company. With this collaboration, they intend to launch the Nitric Oxide Nasal Spray (NONS) in order to treat COVID-19 in adult patients in India. Also, in July 2021, Crystec Pharma, a UK-based crystal and particle engineering company, collaborated with Iconovo to formulate new innovative compounds for dry powder inhalers. Iconovo is a Sweden-based company that offers inhalation solutions for pharmaceutical companies.
Inhalation And Nasal Spray Generic Drugs Market Segment
1) By Drug Class: Corticosteroids, Bronchodilators, Antihistamines, Combinations, Decongestant Sprays
2) By Indication: Asthma, Chronic Obstructive Pulmonary Disease (COPD), Allergic Rhinitis, Other Indications
3) By Patient Demographics: Geriatric Patient, Adult Patient, Pediatric Patient
4) By End-User: Hospitals, Homecare, Other End-Users
Inhalation And Nasal Spray Generic Drugs Market Major Players and Strategies
Major players in the inhalation and nasal spray generic drugs market are Teva Pharmaceuticals Inc., Sandoz International GmbH, Akorn Operating Company LLC, Cipla Inc., Apotex Inc., Hikma Pharmaceuticals PLC., Sun Pharmaceutical Industries Limited, Nephron Pharmaceuticals Corporation, Perrigo Company PLC., Catalent Inc., Acerus Pharmaceuticals Corporation, NIPPON SHINYAKU CO Ltd., SaNOtize Research and Development Corp., and Rokote Laboratories Finland Ltd.
In March 2022, Sandoz International GmbH, a Switzerland-based developer, manufacturer, and distributor of generic pharmaceutical products, acquired Coalesce Product Development for an undisclosed amount. With the acquisition, Sandoz has acquired Coalesce’s assets and capabilities, enabling the Novartis division to expand its current line of respiratory medications and significantly increase patient access to sophisticated therapies. Coalesce Product Development is a UK-based developer of a portfolio of novel inhalation devices.
The Inhalation And Nasal Spray Generic Drugs Global Market Report 2023 covers regional data on inhalation and nasal spray generic drugs market size, inhalation and nasal spray generic drugs market trends and drivers, opportunities, strategies, and inhalation and nasal spray generic drugs market competitor analysis. The countries covered in the inhalation and nasal spray generic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Inhalation and nasal spray generic drugs are used as the main delivery mechanisms for drugs to treat asthma and chronic obstructive pulmonary disease (COPD). Liquid medications that one can spray into the nose are called nasal sprays. They are used to aid in the relief of nasal congestion (stuffiness). An inhaler is a device used to administer medications in the form of a spray breathed in through the mouth or nose.
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