Published Date: 23-Sep-2022
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According to a new report, published by KBV research, The Global Inhalation and Nasal Spray Generic Drugs Market size is expected to reach $29.9 billion by 2028, rising at a market growth of 8.5% CAGR during the forecast period.
The Hospitals market would exhibit a CAGR of 8.7% during (2022 - 2028). Growing public awareness of the treatment and prevention of asthma attacks in patients, both adult and pediatric, is driving the segment's expansion. Asthma, COPD, as well as other respiratory disorders, are now more often managed at hospitals due to the presence of advanced equipment along with expert staff owing to government backing and education campaigns.
The Bronchodilators market is leading the Global Inhalation And Nasal Spray Generic Drugs Market by Drugs Class in 2021; thereby, achieving a market value of $9.2 billion by 2028. The growth of the segment is rapidly rising due to its widespread use in the treatment of respiratory illnesses, including asthma and COPD around the world. According to the WHO, over 262 million people worldwide had asthma in 2019. Moreover, the ease of use of this kind of drug.
The Chronic Obstructive Pulmonary Disease (COPD) market is poised to grow at a CAGR of 8.8% during (2022 - 2028). The growth of the segment is rising due to an increasing number of efforts and initiatives by major market players in the market. The demand for COPD medication is increasing as a result of the introduction of new products and the increased need for generic medications to treat COPD.
The Retail Pharmacy market has the highest market in Global Inhalation And Nasal Spray Generic Drugs Market by Distribution Channel in 2021, thereby, achieving a market value of $16.8 billion by 2028. Due to rising healthcare costs and increased sales of generic drugs, the growth of the segment is booming. Doctors are also more often prescribing generic drugs. Additionally, generics at pharmacies often have a higher gross margin, which indicates considerable revenue. These factors are driving the growth of the segment.
The Pediatric Patient market would exhibit a CAGR of 9% during (2022 - 2028). Due to the increased use of inhalers to treat asthma, cystic fibrosis, and chronic lung disease in children, the pediatric patient segment is anticipated to expand significantly during the forecast period. The use of inhalers is being boosted by growing government initiatives for programs to raise awareness of childhood asthma. For instance, to raise awareness about the prevention and treatment of asthma, the National Childhood Asthma Media Campaign was created in collaboration with the Ad Council.
The North America market has acquired maximum revenue share in Global Inhalation And Nasal Spray Generic Drugs Market by Region in 2021, thereby, achieving a market value of $10.55 billion by 2028, growing at a CAGR of 8 % during the forecast period. The Europe market is exhibiting a CAGR of 8.1% during (2022 - 2028). Additionally, The Asia Pacific market is estimated to witness a CAGR of 8.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Viatris, Inc., Akorn, Operating Company LLC, Cipla Limited, Teva Pharmaceuticals Industries Ltd., Novartis AG (Sandoz International GmBH), Apotex, Inc., Hikma Pharmaceuticals PLC, Sun Pharmaceuticals Industries Ltd., Beximco Pharmaceuticals Ltd.
By Drugs Class
By Distribution Channel
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