What Will The Inhaled Antibiotics Market Look Like In 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 inhaled antibiotics market report forecasts the inhaled antibiotics market size to grow to $1.92 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
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Inhaled Antibiotics Market Size Forecast
The global inhaled antibiotics market is expected to grow from $1.34 billion in 2022 to $1.45 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. 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 inhaled antibiotics market is expected to grow to $1.92 billion in 2027 at a CAGR of 7.2%.
North America held the largest inhaled antibiotics market share.
Key Inhaled Antibiotics Market Driver – Increase In The Incidence Of Respiratory Diseases
According to data published by the US Bureau of Labor Statistics, a US-based government agency, there was a 428,700 increase in employer-reported respiratory illness cases in 2020, up from 10,800 in 2019. The number of respiratory illness incidents per 10,000 full-time equivalent workers rose from 1.1 in 2019 to 44.0 in 2020. As a result, the market for inhaled antibiotics is being driven by the rising prevalence of respiratory diseases.
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Key Inhaled Antibiotics Market Trend – Investments In The Development Of Inhaled Antibiotics
To maintain their market position, major pharmaceutical companies are investing in the development of inhaled antibiotics. For example, Enbiotix, a US-based drug development company, invested $11 million in the development of antibiotics for lung infections in December 2021. This funding would aid in the clinical testing of murepavadin and ColiFin (inhaled colistimethate sodium), both of which are used to treat cystic fibrosis patients (CF).
Inhaled Antibiotics Market Segment
1) By Product Type: Aerosol or Metered Dose Inhaler, Dry Powder Formulation, Spray, Other Types
2) By Application: Pneumonia, Asthma, Bronchitis, Other Applications
3) By End-User: Hospitals, Other End Users
Inhaled Antibiotics Market Major Players and Strategies
Major players in the inhaled antibiotics market are Gilead Sciences Inc., Lupin Limited, Insmed, Inc., Savara Inc., Joincare Pharmaceutical Group Industry Co., Ltd., Pharmaxis Ltd., Teva Pharmaceutical Industries Ltd., Raptor Pharmaceutical Corporation, Altan Pharma Limited, Cipla Limited, Maya Biotech Pvt. Ltd., Medisol Lifescience Pvt. Ltd., Nivon Specialties, Sentiss Pharma Pvt. Ltd., Ultratech India Limited, Midas Care Pharmaceuticals Pvt Ltd., Precept Pharma Ltd., and Luckys Pharma.
Philip Morris International Inc., a tobacco company based in the United States, acquired OtiTopic for an undisclosed sum in August 2021. Apart from nicotine, this acquisition is part of PMI’s strategic goal of expanding its pipeline of inhaled therapies and respiratory medication delivery by leveraging its expertise, scientific know-how, and inhalation capabilities. OtiTopic is a respiratory drug development company based in the United States that specialises in inhaled antibiotics.
The Inhaled Antibiotics Global Market Report 2023 covers regional data on inhaled antibiotics market size, inhaled antibiotics market trends and drivers, opportunities, strategies, and inhaled antibiotics market competitor analysis. The countries covered in the inhaled antibiotics 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.
Inhaled antibiotics are drugs that are used to treat respiratory problems. Inhaled antibiotics have improved survival and have been used to improve lung function, delay lung function deterioration, extend time between exacerbations, and improve quality of life.
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