New York, April 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Inhalation And Nasal Spray Generic Drugs Global Market Report 2023" - https://www.reportlinker.com/p06451080/?utm_source=GNW
, 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.
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 is expected to grow to $36.27 billion in 2027 at a CAGR of 7.02%.
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’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The inhalation and nasal spray generic drugs are used as the main delivery mechanism 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.
North America was the largest region in the inhalation and nasal spray generic drugs market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the inhalation and nasal spray generic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The various drug classes of inhalation and nasal spray generic drugs are corticosteroids, bronchodilators, antihistamines, combinations, and decongestant sprays.Corticosteroids, which include glucocorticoids and mineralocorticoids, are a group of steroid hormones produced by the adrenal cortex and are used to provide relief for inflamed areas or severe allergies, skin problems, asthma, or arthritis.
These drugs are used for different indications, including asthma, chronic obstructive pulmonary disease (COPD), allergic rhinitis, and other indications.The patients using these drugs are geriatric, adult, and pediatric patients.
The end-users are hospitals, home care, and other end-users.
The rising incidence of chronic respiratory diseases globally is expected to propel the growth of inhalation and nasal spray generic drugs.Chronic respiratory conditions affect the lungs’ airways and other structures.
For instance, in September 2020, according to a study report issued by 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.
Strategic partnerships and collaborations have emerged as the key trends in the market.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.
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 countries covered in the Inhalation And Nasal Spray Generic Drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The inhalation and nasal spray generic drugs market research report is one of a series of new reports that provides inhalation and nasal spray generic drugs market statistics, including inhalation and nasal spray generic drugs industry global market size, regional shares, competitors with a inhalation and nasal spray generic drugs market share, detailed inhalation and nasal spray generic drugs market segments, market trends and opportunities, and any further data you may need to thrive in the inhalation and nasal spray generic drugs industry. This inhalation and nasal spray generic drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06451080/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
