The US inhalable drug market is anticipated to grow at a CAGR of 2.3% over the forecast period. The key factors that drive the growth of the industry include the increased prevalence of respiratory diseases such as asthma, COPD among others. The rising level of air pollution is one of the major factors responsible for the increasing prevalence of lungs and cardiovascular diseases. With the rising prevalence of such diseases, the demand for inhalable drugs increases, especially among the geriatric population pool, and hence drives the growth of the inhalable drugs industry.
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Besides, urbanization is another prime contributor to asthma as it significantly increases outdoor air pollution. According to the World Health Organization (WHO), around 9 out of every 10 people breathe polluted air, owing to which, nearly seven million deaths occurs every year across the globe. Thus, such aforementioned factors are likely to create a wide scope for the growth of the inhalable drug market in the US over the forecast period.
Besides, the presence of several key players such as AstraZeneca Plc, Bausch Health Companies Inc., Boehringer Ingelheim International GmbH, GlaxoSmithKline Plc, Johnson & Johnson Services Inc., and Merck & Co., Inc. is also contributing to the growth of the market. These key players adopt several growth strategies to strengthen their product portfolios. For instance, in November 2019, TTF Pharmaceuticals Inc. started the Phase 1 clinical trial of Voriconazole Inhalation Powder to treat Invasive Pulmonary Aspergillosis (IPA). This initiation of the new drug trial is likely to broaden the company’s product portfolio, as well as better, serve a wide customer base in the near future.
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Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Application and By Route of Administration
- Regions Covered- US
- Competitive Landscape- Novartis International AG, GlaxoSmithKline Plc, Johnson & Johnson Services Inc., Bausch Health Companies Inc., and TFF Pharmaceuticals, Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
US Inhalable Drugs Market – Segmentation
By Application
- Respiratory Diseases
- Non- Respiratory Diseases
By Route of Administration
- Nasal
- Mouth
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