GLOBAL INHALABLE DRUGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market Challenges And Opportunities

Global Inhalable Drugs Market- Drivers

• Growing prevalence of respiratory diseases: The key driver contributing to the growth of the global inhalable drugs market is the increasing prevalence of respiratory diseases across the world. Respiratory diseases have emerged as a major public health concern, thereby affecting people of all age groups. Some of the most common respiratory diseases include chronic obstructive pulmonary disease (COPD), asthma, lung cancer, pneumonia, and others. On the other hand, approximately 339 million people suffer from asthma every year globally. The prevalence of asthma has increased significantly over the past few decades, especially in developing nations.
• A number of factors have led to the growth in respiratory diseases. Rising levels of air pollution in cities and industrial areas have negatively impacted lung health. Long-term exposure to pollutants releases inflammatory particles and chemicals in the lungs thus causing inflammation and breathing difficulties over time. Growing aging population also contributes as elderly people are more vulnerable to respiratory illnesses. Changing lifestyle and dietary patterns have increased obesity rates which is a risk factor for asthma and COPD. With growing environmental degradation and toxic emissions in the atmosphere, the cases of respiratory diseases are expected to spike further.
• The rising disease burden has augmented the demand for drugs that can be effectively delivered to the lungs. Inhalable medication allows direct delivery of drugs to the primary disease site and helps achieve better therapeutic outcomes. Pulmonary route of drug administration leads to fewer systemic side effects as compared to oral drugs. This has prompted drug manufacturers to expand their inhalable drugs portfolio with advanced formulations for effective management of respiratory disorders.

• Advancement in delivery technologies: Constant innovation and advancement in drug delivery technologies have significantly contributed to the growth of the inhalable drugs market. The field of pulmonary drug delivery has evolved over the years with continuing research on new methodologies and formulations for achieving optimal drug deposition in the lungs. Novel technologies have enabled development of easy-to-use, portable inhalers along with sophisticated drug containment and release mechanisms for achieving improved safety, efficacy, and patient compliance.
• Traditional pressurized metered dose inhalers (pMDIs) are being replaced with more user-friendly dry powder inhalers (DPIs) which are breath-actuated and do not require coordination between actuation and inhalation. Further, smart inhalers integrated with sensors and connectivity features provide automated dose counting and tracking along with remote monitoring capabilities. This has benefits like ensuring adherence and timely refills. Injection molding technology is being used for manufacturing inhalable capsules and miniaturized formulations. Also, advanced pulmonary drug delivery systems utilizing micro and nanotechnologies can potentially deliver drugs for local as well as systemic treatments.
• Biopharmaceutical companies are continually introducing novel propellant-free inhalers, breath-controlled reservoirs, and other cutting-edge technologies tailored for specific drug molecules and disease conditions. Such innovations not only improve lung deposition but also enhance patient experience and compliance to drive the demand for inhalable drugs. With ongoing R&D focusing on next-gen technologies, the delivery systems are expected to become more efficient and customized in the future.

• Ease of drug delivery via inhalation: Global inhalable drugs market is witnessing significant growth due to increasing ease of drug delivery through the pulmonary route of administration. Inhalable drugs offer convenience of self-administration to patients and help avoid complications that are associated with other delivery methods like injections. This makes inhalation a preferred choice for treatment of various chronic diseases.
• Asthma and COPD are among the major disease areas driving the demand for inhalable drugs. in 2020, According to the report published by the World Health Organization (WHO), asthma affected over 339 Mn people worldwide. The prevalence of COPD is also on the rise and is projected to be the third leading cause of death globally by 2030. Inhaled medications have proved to be more effective in treating symptoms and controlling these respiratory diseases as compared to oral drugs. The effectiveness and ease of use that are associated with inhalable formulations is resulting in higher patient compliance for asthma and COPD treatments.
• The market is expected to experience increased growth led by innovations to develop more user-friendly and compact drug-device combination products. Companies are investing in connected digital inhalers that can record medication usage data to improve therapy management. This futuristic approach will enhance patient engagement and therapy outcomes. For example, the Tesseract predictive inhaler developed by GSK plc. Collects usage data to notify healthcare providers in case of incorrect inhalation and non-adherence. Moreover, many pipeline drugs for respiratory and non-respiratory diseases are being evaluated in inhalable formulations which will further augment market expansion, if approved.

Global Inhalable Drugs Market- Opportunities

• Emergence of new drug delivery technologies: Emergence of innovative drug delivery technologies can unlock tremendous opportunities in the global inhalable drugs market in the near future. Traditional delivery methods through pressurized metered dose inhalers and dry powder inhalers have certain limitations in terms of drug potency, precision of dosing, and patient adherence. However, newer technologies like soft mist inhalers and innovative capsule-based systems are helping to overcome many of these challenges.
• Soft mist inhalers utilize hydrofluoroalkane propellants which allow creation of a very fine mist of medication that deposit deeply into the lungs. This ensures maximum absorption of the active drug. Capsule-based devices ensure precise filling of the right dosage and also help avoid inconsistencies that can arise from loose powder formulation. The capsule shells dissolve instantaneously on contact with the moisture in lungs, thereby releasing the drugs for efficient absorption.

• Rising healthcare expenditure: The significant factor influencing the growth rate of the global inhalable drugs market is the growing healthcare expenditure, which helps in improving its infrastructure. For instance, according to the International Health Care System of the U.S., in June 2020, U.S. government organizations aim to improve the healthcare infrastructure by increasing funding, setting legislation, and national strategies, and cofounding and setting basic requirements and regulations for the Medicaid program. Similarly, in November 2022, according to reports provided by the Canadian Institute for Health Information, the total health expenditure in Canada was US$ 331 billion in 2022, or US$ 8,563 per Canadian, while health expenditure represented 12.2% of Canada’s gross domestic product (GDP) in 2022, following a high of 13.8% in 2020.
• Potential for biologics delivery through inhalation: Potential for biologics delivery through inhalation in global inhalable drugs market brings an immense opportunity for growth in the near future. Biologics have revolutionized treatment across several therapeutic areas like oncology, immunology, and others. However, delivery of biologics still remains a challenge due to their large molecular structure and instability. Inhalation offers non-invasive and direct delivery of biologics to lungs which has potential to revolutionize treatment of respiratory diseases.
• Inhalation allows for deep lung deposition of biologics. Many respiratory diseases manifest in lungs, thereby making inhalation an attractive route for targeting drug delivery. For example, on May 16, 2023, according to the report published by the World Health Organization (WHO), , chronic obstructive pulmonary disease (COPD) affected over 3 Mn people and caused over 3 lakh deaths worldwide in 2019. Inhalation allows biologics to reach infection sites in lungs to treat underlying causes of diseases like COPD. This reduces systemic side effects and improves treatment efficacy with lower doses.