Impact of Existing and Emerging Inhalation & Nasal Spray Generic Drugs Market - Trends And Forcast
According to a new
market report published by Transparency Market Research “Inhalation
and Nasal Spray Generic Drugs Market - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2015 - 2023” the global inhalation and nasal
spray generic drugs market was valued at US$21.8 bn in 2014 and is estimated to
reach US$35.5 bn by 2023 at a CAGR of 5.5% from 2015 to 2023.
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The increasing occurrence
of respiratory diseases, including chronic obstructive pulmonary disease (COPD)
and asthma, and the soaring count of generic manufacturers are amongst the
prime factors fuelling the growth inhalation and nasal spray generic drugs market.
In terms of drug class, the market is segmented into corticosteroids,
bronchodilators, antihistamines, combinations, and decongestant sprays.
Transparency Market
Research (TMR), a market intelligence company, throws light on the prime
properties and medical applications of these drugs, thus providing highlights
on their scope in the coming years.
Corticosteroids: These are
a class of steroid hormones and function in a broad range of physiological
processes such as immune response, stress response, carbohydrate metabolism,
blood electrolyte levels, behavior, and protein catabolism. Synthetic
pharmaceutical drugs having effects like corticosteroids are utilized in
various conditions ranging from skin diseases to brain tumors. Dexamethasone
and its derivatives deliver some mineralocorticoid action along with
glucocorticoid impact. On the other hand, hydrocortisone is used in replacement
therapies such as congenital hyperplasia and adrenal insufficiency.
Bronchodilators:
Bronchodilators are substances responsible for dilating the bronchioles and
bronchi and thus decreasing the resistance within the respiratory airway, along
with raising airflow to the lungs. Bronchodilators could be endogenous or could
be medications administered for treating breathing difficulties. These
medications are extremely useful for obstructive lung diseases, amongst which
chronic obstructive pulmonary disease (COPD) and asthma are the most common
ones.
Antihistamines: An
antihistamine is a kind of pharmaceutical drug utilized for opposing the
activity of histamine receptors within the human body. Antihistamines have been
classified according to the histamine receptor they act upon. The 2 biggest
classes of antihistamines are H2-antihistamines and H1-antihistamines. Amongst
these, antihistamines targeting the histamine H1-receptor are utilized for the
treatment of allergic reactions of the nose and for insomnia. On the other hand,
antihistamines targeting the histamine H2-receptor are utilized for the
treatment of gastric acid conditions such as acid reflux and peptic ulcers,
among others.
Combinations: Combination
drugs are formulations comprising 2 or more drugs in variable quantities. These
drugs include Formoterol/budesonide, Salmeterol/fluticasone, Azelastine/benzalkonium
chloride, and others. Amongst these, Salmeterol/fluticasone is a formulation
utilized in the management of COPD and asthma. On the other hand,
Formoterol/budesonide is a combination of 2 medicines utilized for controlling
asthma symptoms as well as improving lung function. The segment of combination
drugs led the market for inhalation and nasal spray generic drugs in 2014 and
constituted a share of 38.8% in the market owing to enhanced efficiency and
better compliance of combination drugs.
Thus, owing to the benefits
of inhalation and nasal spray generic drugs, the market for the same is poised
to rise exponentially in the coming years. However, strict regulatory policies
dealing with the use of generic drugs within emerging countries may inhibit the
growth of the market in forthcoming years.
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